Technical Analyst, Vermilion Research

Joe Jasper

Technical Analyst

Technical and Quantitative Research

Vermilion Research

Vermilion’s objective is to deliver timely, actionable, and unique technical research to professional investors through the application of our various technical indicators.

Our research strategists seek to highlight securities which we believe are at major inflection points, based on our various technical and quantitative indicators, and offer asymmetric risk/return profiles. Our unique research methodology, centered on relative strength, enables our strategists to deliver superior investment recommendations.

Our process begins by organizing the universe of actively traded stocks into discrete sectors, then into industry groups. We then apply our technical and quantitative tools to identify developing price trends. Once attractive trends are identified within a selected sector or group, we screen for individual stocks which we believe offer the best risk/reward profile. We provide a historical perspective that often reveals, through our long-term charts, how price patterns often repeat themselves over time.

Technical Analysis

iShares MSCI ACWI ETF / Technical Analysis

<ul>
<li>Global equities are under some pressure after Fitch downgraded the United States' credit rating to AA+ from AAA.</li>
<li>We expect that this is a normal 3%-6% pullback to the 50-day MA or major $93 support level on the MSCI ACWI <a href="https://www.smartkarma.com/entities/ishares-msci-acwi-etf" target="_blank" data-smartkarma-citation="entities:24402:1" rel="noopener">iShares MSCI ACWI ETF (ACWI US)</a> .</li>
<li>$TNX is below 4.1%-4.3% and DXY remains in an 8-month downtrend; as long as this remains true, we'd buy on a pullback to the 50-day MA and/or $93 on ACWI-US</li>
</ul>


Global equities are under some pressure after Fitch downgraded the United States' credit rating to AA+ from AAA.
We expect that this is a normal 3%-6% pullback to the 50-day MA or major $93 support level on the MSCI ACWI iShares MSCI ACWI ETF (ACWI US) .
$TNX is below 4.1%-4.3% and DXY remains in an 8-month downtrend; as long as this remains true, we'd buy on a pullback to the 50-day MA and/or $93 on ACWI-US


Normal Pullback, or Something More?; Watching Resistance on DXY and 10-Yr Treasury Yield; Value Buys

Global Healthcare Analyst

Tina Banerjee

Equity Capital Markets

<ul>
<li>INDO-MIM Ltd launched India IPO to raise nearly INR 38.1B. They provide end-to-end solutions for the manufacture of precision engineering components using metal injection molding (MIM) technology.</li>
<li>Company intends to use the proceeds for repayment/ prepayment, in full or part, of all or certain outstanding borrowings and for working capital purpose.</li>
<li>Diversified product portfolio, strong customer base, technological prowess and geographical reach make the INDO-MIM offering attractive.</li>
</ul>


INDO-MIM Ltd launched India IPO to raise nearly INR 38.1B. They provide end-to-end solutions for the manufacture of precision engineering components using metal injection molding (MIM) technology.
Company intends to use the proceeds for repayment/ prepayment, in full or part, of all or certain outstanding borrowings and for working capital purpose.
Diversified product portfolio, strong customer base, technological prowess and geographical reach make the INDO-MIM offering attractive.


INDO-MIM Ltd IPO: Product Portfolio, Customer Base, Market Reach Moulds It Right For Investors

IPOs and Catalysts/Events, Global Equity Research Ltd

Arun George

IPOs and Catalysts/Events

Uncompromised, Independent, Conflict-Free Research

Global Equity Research Ltd

Global Equity Research was started in 2017 by a group of experienced research professionals. It was founded on a passionate belief in the importance and the need for uncompromised, independent, conflict-free research. We aim to provide differentiated and actionable primary and bottom up fundamental research.

Luxshare Precision Industry / Equity Capital Markets

<ul>
<li>
<a href="https://www.smartkarma.com/entities/luxshare-precision-industry-co-ltd-3f59eaa1-da7f-4d9b-add0-c8efccfee0d5" target="_blank" data-smartkarma-citation="entities:50296:1" rel="noopener">Luxshare Precision Industry (2475 HK)</a> priced its H Share at HK$63.28, raising HK$24,266.2 million (US$3.1 billion) in gross proceeds. The H Share will be listed tomorrow.</li>
<li>I discussed the H Share listing in <strong><em><a href="https://www.smartkarma.com/insights/luxshare-h-share-listing-2475-hk-the-investment-case" target="_blank" data-smartkarma-citation="insights:245383" rel="noopener">Luxshare H Share Listing (2475 HK): The Investment Case</a></em></strong>. </li>
<li>The H Share listing price implies a 12.1% AH discount (based on the last close of the A Share price), which is unattractive.</li>
</ul>



Luxshare Precision Industry (2475 HK) priced its H Share at HK$63.28, raising HK$24,266.2 million (US$3.1 billion) in gross proceeds. The H Share will be listed tomorrow.
I discussed the H Share listing in Luxshare H Share Listing (2475 HK): The Investment Case. 
The H Share listing price implies a 12.1% AH discount (based on the last close of the A Share price), which is unattractive.


Luxshare H Share Listing (2475 HK): Valuation Insights

<ul>
<li>
<a href="https://www.smartkarma.com/entities/luxshare-precision-industry-co-ltd-3f59eaa1-da7f-4d9b-add0-c8efccfee0d5" target="_blank" data-smartkarma-citation="entities:50296:1" rel="noopener">Luxshare Precision Industry (2475 HK)</a> is a leading manufacturer of electronic components. It is seeking to raise US$3.1 billion.</li>
<li>Luxshare is a global leader in the PIMS industry, holding top positions in the PIMS markets of consumer electronics, automotive electronics, and data centres by revenue in 2025.</li>
<li>The investment case is based on a strong market position, acquisition-driven growth, a relatively stable margin profile, an expected return to cash generation, and a strong balance sheet.  </li>
</ul>



Luxshare Precision Industry (2475 HK) is a leading manufacturer of electronic components. It is seeking to raise US$3.1 billion.
Luxshare is a global leader in the PIMS industry, holding top positions in the PIMS markets of consumer electronics, automotive electronics, and data centres by revenue in 2025.
The investment case is based on a strong market position, acquisition-driven growth, a relatively stable margin profile, an expected return to cash generation, and a strong balance sheet.  


Luxshare H Share Listing (2475 HK): The Investment Case

Director, Head of Research, Smartkarma

Pranav Rao

Director, Head of Research

Smartkarma

Smartkarma unites the fragmented investment industry, connecting institutional investors, independent research providers, and corporates within a single network.

Research Reinvented

Equity Bottom-Up

Jacobio Pharmaceuticals / Equity Bottom-Up

<ul>
<li>Welcome to Curator’s Cut - a fortnightly roundup of standout themes from the 1,100+ insights shared on Smartkarma.</li>
<li>In this cut, we look at optics as a bottleneck in AI infrastructure, the arguments against Indonesia even with low positioning, and some opportunities within Asian healthcare. </li>
<li>Want to dig deeper? Comment or message with the themes you’d like to see highlighted next.</li>
</ul>


Welcome to Curator’s Cut - a fortnightly roundup of standout themes from the 1,100+ insights shared on Smartkarma.
In this cut, we look at optics as a bottleneck in AI infrastructure, the arguments against Indonesia even with low positioning, and some opportunities within Asian healthcare. 
Want to dig deeper? Comment or message with the themes you’d like to see highlighted next.


Curator's Cut: Seeing the Light in AI, Indonesia at Record Lows & Offbeat Ideas in Asia Healthcare

Japan

Sumitomo Electric Industries, Ltd. manufactures electric wires, cables, and their related equipment.  The Company's products include optical fibers, wire harnesses, antennas for broadcasting stations, and electric monitoring systems.  Sumitomo Electric also produces disc brakes and antilock braking systems for automobiles and printed circuit board.

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Sumitomo Electric Industries (5802 JP)

Normal Pullback, or Something More?; Watching Resistance on DXY and 10-Yr Treasury Yield; Value Buys

Normal Pullback, or Something More for global equities?; Watch Resistance on $DXY and 10-Yr Treasury Yield; Value Buys in Consumer Discretionary...

Vermilion Research

INDO-MIM Ltd IPO: Product Portfolio, Customer Base, Market Reach Moulds It Right For Investors

INDO-MIM Ltd launches India IPO to raise INR 38.1B for repayment of borrowings and working capital, showcasing leadership position, diverse...

Tina Banerjee

Curator's Cut: Seeing the Light in AI, Indonesia at Record Lows & Offbeat Ideas in Asia Healthcare

Discover standout themes in AI infrastructure, Indonesia's challenges, and Asian healthcare opportunities in this Curator's Cut issue. Share your...

Pranav Rao

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Normal Pullback, or Something More?; Watching Resistance on DXY and 10-Yr Treasury Yield; Value Buys

Normal Pullback, or Something More for global equities?; Watch Resistance on $DXY and 10-Yr Treasury Yield; Value Buys in Consumer Discretionary...

Vermilion Research

INDO-MIM Ltd IPO: Product Portfolio, Customer Base, Market Reach Moulds It Right For Investors

​INDO-MIM Ltd launches India IPO to raise INR 38.1B for repayment of borrowings and working capital, showcasing leadership position, diverse...

Tina Banerjee

Luxshare H Share Listing (2475 HK): Valuation Insights

Luxshare Precision priced its H Share at HK$63.28, raising US$3.1 billion in gross proceeds. In this note, I discuss valuation.

Arun George

Luxshare H Share Listing (2475 HK): The Investment Case

Luxshare, a leading manufacturer of electronic components, is seeking to raise US$3.1 billion. In this note, I discuss the investment case.

Arun George

Curator's Cut: Seeing the Light in AI, Indonesia at Record Lows & Offbeat Ideas in Asia Healthcare

​Discover standout themes in AI infrastructure, Indonesia's challenges, and Asian healthcare opportunities in this Curator's Cut issue. Share your...

Pranav Rao

INDO-MIM Ltd launches India IPO to raise INR 38.1B for repayment of borrowings and working capital, showcasing leadership position, diverse...

Discover standout themes in AI infrastructure, Indonesia's challenges, and Asian healthcare opportunities in this Curator's Cut issue. Share your...