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

Event-Driven

Housing and Urban Development Corporation Limited / Event-Driven

Housing and Urban Development Corporation Limited

<ul>
<li>We see 7 stocks moving from MidCap to LargeCap and vice versa, 17 stocks from SmallCap to MidCap, 19 stocks from MidCap to SmallCap and 2 new additions to MidCap.</li>
<li>The expected migrations from SmallCap to MidCap have outperformed the other potential migrations with all stocks moving higher over the last six months.</li>
<li>Momentum on the upward migrations could sustain as active managers reposition their portfolios. Some stocks will have passive flows over the next few months.</li>
</ul>


We see 7 stocks moving from MidCap to LargeCap and vice versa, 17 stocks from SmallCap to MidCap, 19 stocks from MidCap to SmallCap and 2 new additions to MidCap.
The expected migrations from SmallCap to MidCap have outperformed the other potential migrations with all stocks moving higher over the last six months.
Momentum on the upward migrations could sustain as active managers reposition their portfolios. Some stocks will have passive flows over the next few months.


AMFI Stock Reclassification Preview (June 2024): Potential Changes as Momentum Recovers

External broker reports(aggregated public sources), Axis Direct

Axis Direct

External broker reports(aggregated public sources)

Axis Direct is the flagship brand under Axis Securities Limited, a subsidiary of Axis Bank in India. 

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

Thematic (Sector/Industry)

<ul><li>The Axis Top Picks Basket delivered an excellent return of 5.4% in the last three months against the 2.5% return posted by Nifty 50, thereby beating the benchmark by a wide margin of 2.9%.</li><li>Over the last one year, the basket has gained 43.2%.</li><li>Moreover, it gives us immense joy to inform you that our Top Picks Basket has delivered an impressive return of 284% since its inception (May’20), which stands well above the 143% return delivered by the NIFTY 50 index over the same period. </li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

The Axis Top Picks Basket delivered an excellent return of 5.4% in the last three months against the 2.5% return posted by Nifty 50, thereby beating the benchmark by a wide margin of 2.9%.Over the last one year, the basket has gained 43.2%.Moreover, it gives us immense joy to inform you that our Top Picks Basket has delivered an impressive return of 284% since its inception (May’20), which stands well above the 143% return delivered by the NIFTY 50 index over the same period. Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Axis Top Picks for the Month of June 2024

External broker reports(aggregated public sources), Motilal Oswal Financial Services Limited

Motilal Oswal

Motilal Oswal Financial Services Limited

Motilal Oswal Financial Services Limited is an Indian diversified financial services firm offering a range of financial products and services. 

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

Equity Bottom-Up

CreditAccess Grameen Ltd / Equity Bottom-Up

<ul><li>Motilal Oswal's research report onCreditAccess Grameen CreditAccess Grameen (CREDAG) delivered a healthy operational performance in 4QFY24, with 34% YoY growth in PAT to INR3.97b (inline).</li><li>4QFY24 NII grew 42% YoY to INR8.8b and PPoP grew 36% YoY to INR6.8b.</li><li>FY24 PAT grew 31% YoY to INR5.1b.</li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Motilal Oswal's research report onCreditAccess Grameen CreditAccess Grameen (CREDAG) delivered a healthy operational performance in 4QFY24, with 34% YoY growth in PAT to INR3.97b (inline).4QFY24 NII grew 42% YoY to INR8.8b and PPoP grew 36% YoY to INR6.8b.FY24 PAT grew 31% YoY to INR5.1b.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

CreditAccess Grameen - Healthy Quarter with In-Line Earnings and Stable NIM

External broker reports(aggregated public sources), HDFC Securities

HDFC Securities

HDFC securities is the best online trading platform for stocks, IPOs, mutual fund in India. 

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

<ul><li>CreditAccess Grameen’s (CREDAG) Q4FY24 earnings were ahead of estimates, driven by steady NIMs (13.1%) and healthy loan growth (+27% YoY), partly offset by higher credit costs (240bps)</li><li>Profitability (RoA/RoE of 5.7%/25%) remained strong on the back of healthy risk-adjusted NIMs and continued efficiency gains</li><li>Borrower addition continued to gain traction (+15.3% YoY) and is likely to drive loan growth during FY25-FY26E</li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

CreditAccess Grameen’s (CREDAG) Q4FY24 earnings were ahead of estimates, driven by steady NIMs (13.1%) and healthy loan growth (+27% YoY), partly offset by higher credit costs (240bps)Profitability (RoA/RoE of 5.7%/25%) remained strong on the back of healthy risk-adjusted NIMs and continued efficiency gainsBorrower addition continued to gain traction (+15.3% YoY) and is likely to drive loan growth during FY25-FY26EContent is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

CreditAccess Grameen: Value Emerging, Upgrade to BUY

CreditAccess Grameen - Value Emerging; Upgrade to BUY

India

CreditAccess Grameen Limited provides consumer finance services. The Company offers income generation, home improvement, emergency, and family welfare loans, as well as retail finance, insurance, and healthcare programs. CreditAccess Grameen serves clients in India.

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CreditAccess Grameen Ltd (CREDAG IN)

AMFI Stock Reclassification Preview (June 2024): Potential Changes as Momentum Recovers

We see 7 stocks moving from MidCap to LargeCap and vice versa, 17 stocks from SmallCap to MidCap, 19 stocks from MidCap to SmallCap and 2 new adds...

Brian Freitas

Axis Top Picks for the Month of June 2024

The Axis Top Picks Basket delivered an excellent return of 5.4% in the last three months against the 2.5% return posted by Nifty 50, thereby...

Axis Direct

CreditAccess Grameen - Healthy Quarter with In-Line Earnings and Stable NIM

Motilal Oswal's research report onCreditAccess Grameen CreditAccess Grameen (CREDAG) delivered a healthy operational performance in 4QFY24, with...

Motilal Oswal

CreditAccess Grameen: Value Emerging, Upgrade to BUY

CreditAccess Grameen’s (CREDAG) Q4FY24 earnings were ahead of estimates, driven by steady NIMs (13.1%) and healthy loan growth (+27% YoY), partly...

HDFC Securities

CreditAccess Grameen - Value Emerging; Upgrade to BUY

CreditAccess Grameen’s (CREDAG) Q4FY24 earnings were ahead of estimates, driven by steady NIMs (13.1%) and healthy loan growth (+27% YoY), partly...

HDFC Securities

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