Pan-Asia Index Rebalances/ Events/ Delta One, Periscope Analytics

Brian Freitas

Pan-Asia Index Rebalances/ Events/ Delta One

Periscope Analytics

Periscope Analytics focuses on event-driven trades across Asia Pacific and provides comprehensive, timely and systematic coverage of index changes to major Asia Pacific indices in a structured manner.

The analysis includes forecasted inclusions and exclusions to all major Asian indices that have significant amount of tracking assets, including estimates of passive buy/sell flow on the stocks. The service also provides commentary and impact of market consultations, ground rule changes, and other events (IPOs, spin-offs, M&A) that could lead to index changes and passive flow.

Periscope Analytics works with multi-strategy hedge funds, proprietary trading firms, stat arb trading groups and long-only investors that invest and trade in the Asia Pacific region with the data being used to trade index rebalances, avoid pre-positioning and passive flow, and to time entry into and exit from stocks.

Event-Driven Trades Across Asia Pacific

Index Rebalance

CG Power and Industrial Solutions / Index Rebalance

<ul>
<li>Companies in India have disclosed their shareholding pattern as of end-June in July. There are companies with significant float changes from end-March and/or end-December.</li>
<li>The changes in free float could be reflected in domestic and global indices over the next few weeks and months resulting in flow from passive trackers.</li>
<li>Depending on the date that the shareholding was published, there could be 11 stocks with passive inflows from global trackers while 5 could have passive outflows in August.</li>
</ul>


Companies in India have disclosed their shareholding pattern as of end-June in July. There are companies with significant float changes from end-March and/or end-December.
The changes in free float could be reflected in domestic and global indices over the next few weeks and months resulting in flow from passive trackers.
Depending on the date that the shareholding was published, there could be 11 stocks with passive inflows from global trackers while 5 could have passive outflows in August.


India: Potential Free Float Changes & Passive Flows in August

Global Materials | Industrials | Commodities

Rahul Jain

Equity Bottom-Up

CG Power and Industrial Solutions / Equity Bottom-Up

<ul>
<li>Consolidated revenue grew 23% YoY to Rs9,999 crore; PBT margin at 13.6%; order backlog rose 66%, supported by broad-based growth across key segments.</li>
<li>Capacity expansions in transformers and semiconductors, export growth initiatives, and investments in consumer products and railway systems are key strategic priorities over FY26–FY28.</li>
<li>Trading at 73–77x FY26E P/E; management targets sustained growth, high ROCE, and diversification, supporting a long-term compounding opportunity.</li>
</ul>


Consolidated revenue grew 23% YoY to Rs9,999 crore; PBT margin at 13.6%; order backlog rose 66%, supported by broad-based growth across key segments.
Capacity expansions in transformers and semiconductors, export growth initiatives, and investments in consumer products and railway systems are key strategic priorities over FY26–FY28.
Trading at 73–77x FY26E P/E; management targets sustained growth, high ROCE, and diversification, supporting a long-term compounding opportunity.


CG Power: Strong Execution, Strategic Expansion, and Long-Term Growth Visibility

Event-Driven

CG Power and Industrial Solutions / Event-Driven

<ul>
<li>We see 7 stocks moving from MidCap to LargeCap, 11 stocks moving from LargeCap to MidCap, 4 stocks from SmallCap to MidCap, and 11 stocks from MidCap to SmallCap.</li>
<li>From the new listings, 4 stocks are expected to be added to Large Cap, 3 stocks to Mid Cap, and multiple stocks to Small Cap.</li>
<li>There are multiple stocks among the AMFI changes that will be changes for the <a href="https://www.smartkarma.com/entities/nse-nifty-next-50-index" target="_blank" data-smartkarma-citation="entities:36053:1" rel="noopener">NSE Nifty Next 50 Index (NIFTYJR INDEX)</a> and/or Nifty Midcap 150 Index in March.</li>
</ul>


We see 7 stocks moving from MidCap to LargeCap, 11 stocks moving from LargeCap to MidCap, 4 stocks from SmallCap to MidCap, and 11 stocks from MidCap to SmallCap.
From the new listings, 4 stocks are expected to be added to Large Cap, 3 stocks to Mid Cap, and multiple stocks to Small Cap.
There are multiple stocks among the AMFI changes that will be changes for the NSE Nifty Next 50 Index (NIFTYJR INDEX) and/or Nifty Midcap 150 Index in March.


AMFI Stock Reclassification Preview (Dec 2024): Recent Large IPOs Lead to Big Downward Shift

Market & Forensics Analyst, Beat the Street

Nimish Maheshwari

Market & Forensics Analyst

Beat the Street

Beat The Street was founded by Nimish Maheshwari and Sudarshan Bhandari, both of whom are Chartered Accountants by Profession, known for their expert analysis in the fields of Business, Sectoral analysis, and Corporate governance.

With a strong social media presence of 45,000+ Subscribers across various platforms, they are considered trusted voices in the industry. Their insights and analysis have been featured in some of India’s most prominent publications, including the Economic Times, Dalal Street Investment Journal, The Morning Context, and The Ken.

Their analysis on Bankrupt & Insolvent companies has been instrumental in saving investors from significant losses. They have a keen eye for identifying red flags and has identified exclusive redflags earlier in Vedanta, Nykaa, Dhani Services, Adani and many more.

Read Business Not Stock Prices

Thematic (Sector/Industry)

<ul>
<li>India's decade-old aspiration to build a semiconductor ecosystem has transitioned from policy vision to tangible projects, marked by the recent presentation of the first "Made-in-India" chip, the Vikram 32-bit processor.</li>
<li>The momentum is validated by over INR 1.60 lakh crore in investment commitments across 10 approved projects, including major fabs and advanced packaging facilities.</li>
<li>This strategic push aims to reduce import dependency in a critical sector, create high-value jobs, and position India as a viable alternative in the global supply chain.</li>
</ul>


India's decade-old aspiration to build a semiconductor ecosystem has transitioned from policy vision to tangible projects, marked by the recent presentation of the first "Made-in-India" chip, the Vikram 32-bit processor.
The momentum is validated by over INR 1.60 lakh crore in investment commitments across 10 approved projects, including major fabs and advanced packaging facilities.
This strategic push aims to reduce import dependency in a critical sector, create high-value jobs, and position India as a viable alternative in the global supply chain.


Thematic Report- Unlocking India's Semiconductor Ambition: From Catch-Up to Catalyst

<ul>
<li>A big rally in <a href="https://www.smartkarma.com/entities/hitachi-energy-india-limited" target="_blank" data-smartkarma-citation="entities:36054:1" rel="noopener">Hitachi Energy India (POWERIND IN)</a> this year could lead to the stock being added to a global index in August.</li>
<li>
<a href="https://www.smartkarma.com/entities/hitachi-energy-india-limited" target="_blank" data-smartkarma-citation="entities:36054:1" rel="noopener">Hitachi Energy India (POWERIND IN)</a> has outperformed its peers and now trades at significantly higher valuations compared to its peer group.</li>
<li>There is positioning in the stock and early entrants could be looking to unwind some of their holdings over the next couple of weeks.</li>
</ul>


A big rally in Hitachi Energy India (POWERIND IN) this year could lead to the stock being added to a global index in August.

Hitachi Energy India (POWERIND IN) has outperformed its peers and now trades at significantly higher valuations compared to its peer group.
There is positioning in the stock and early entrants could be looking to unwind some of their holdings over the next couple of weeks.


Hitachi Energy India (POWERIND IN): Powering into a Global Index in August

India

CG Power and Industrial Solutions Limited manufactures, distributes, installs and services electrical and allied equipment. The Company offers transformers, reactors, switchgear control equipment and accessories, industrial motors, pumps, and communication systems. CG Power and Industrial Solutions serves customers globally.

CG Power and Industrial Solutions (CGPOWER IN)

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CG Power and Industrial Solutions (CGPOWER IN)

India: Potential Free Float Changes & Passive Flows in August

Changes to shareholding patterns could lead to changes in float for some stocks in local/global indices. Passive trackers will need to trade over 2...

Brian Freitas

CG Power: Strong Execution, Strategic Expansion, and Long-Term Growth Visibility

Revenue up 23% order backlog increased by 66%, strategic priorities include capacity expansions and export growth initiatives. New semi-conductor...

Rahul Jain

AMFI Stock Reclassification Preview (Dec 2024): Recent Large IPOs Lead to Big Downward Shift

There could be 33 migrations in January, 4 new listings in LargeCap, 3 in MidCap and multiple in SmallCap. Some of the AMFI changes will have...

Brian Freitas

Thematic Report- Unlocking India's Semiconductor Ambition: From Catch-Up to Catalyst

India's semiconductor ecosystem is gaining traction with the launch of the first "Made-in-India" chip, backed by significant investment...

Nimish Maheshwari

Hitachi Energy India (POWERIND IN): Powering into a Global Index in August

Hitachi Energy India could be added to a global index in Aug. The stock has outperformed peers and trades at significantly higher valuations....

Brian Freitas

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

India: Potential Free Float Changes & Passive Flows in August

Changes to shareholding patterns could lead to changes in float for some stocks in local/global indices. Passive trackers will need to trade over 2...

Brian Freitas

CG Power: Strong Execution, Strategic Expansion, and Long-Term Growth Visibility

​Revenue up 23% order backlog increased by 66%, strategic priorities include capacity expansions and export growth initiatives. New semi-conductor...

Rahul Jain

AMFI Stock Reclassification Preview (Dec 2024): Recent Large IPOs Lead to Big Downward Shift

There could be 33 migrations in January, 4 new listings in LargeCap, 3 in MidCap and multiple in SmallCap. Some of the AMFI changes will have...

Brian Freitas

Thematic Report- Unlocking India's Semiconductor Ambition: From Catch-Up to Catalyst

​India's semiconductor ecosystem is gaining traction with the launch of the first "Made-in-India" chip, backed by significant investment...

Nimish Maheshwari

Hitachi Energy India (POWERIND IN): Powering into a Global Index in August

Hitachi Energy India could be added to a global index in Aug. The stock has outperformed peers and trades at significantly higher valuations....

Brian Freitas

Revenue up 23% order backlog increased by 66%, strategic priorities include capacity expansions and export growth initiatives. New semi-conductor...

India's semiconductor ecosystem is gaining traction with the launch of the first "Made-in-India" chip, backed by significant investment...