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

<ul>
<li>NSE Indices have started a market consultation on dropping stocks that are not a part of the Futures &amp; Options segment from the <a href="https://www.smartkarma.com/entities/nifty-next-50-index" target="_blank" data-smartkarma-citation="entities:36053:1" rel="noopener">Nifty Next 50 Index (NIFTYJR INDEX)</a>. </li>
<li>This will be done in two phases with a weight reduction for non-F&amp;O stocks in June and deletion from the index in September.</li>
<li>That will result in 11 inclusions to the <a href="https://www.smartkarma.com/entities/nifty-next-50-index" target="_blank" data-smartkarma-citation="entities:36053:1" rel="noopener">Nifty Next 50 Index (NIFTYJR INDEX)</a> in September and bring in a lot of flow to the stocks.</li>
</ul>


NSE Indices have started a market consultation on dropping stocks that are not a part of the Futures &amp; Options segment from the Nifty Next 50 Index (NIFTYJR INDEX). 
This will be done in two phases with a weight reduction for non-F&amp;O stocks in June and deletion from the index in September.
That will result in 11 inclusions to the Nifty Next 50 Index (NIFTYJR INDEX) in September and bring in a lot of flow to the stocks.


NIFTY NEXT 50 Index Market Consultation: Non-F&O Stocks Could Be Dropped

Independent research on the U.S. markets, Baptista Research

Baptista Research

Independent research on the U.S. markets

Baptista Research is an independent financial research house focused on the U.S. markets. We provide equity research as well as credit research reports on the top-listed U.S. companies with most of our focus on technology, consumer goods and services, automobiles, industrials, oil and gas, pharma, and healthcare. Our research has served more than 3000 institutional investors including mutual funds, hedge funds, banks, family offices, and various buy-side firms. We operate a research subscription service where institutions, as well as retail investors, can have priority access to all our research. We also have a wide distribution of our research reports across some of the top global financial platforms. Apart from equity research and credit research, we also provide advisory services with respect to mergers & acquisitions (M&A), private equity/ venture capital fundraising, valuation reports, and investment management services for corporates.
Baptista Research is owned and managed by Ishan Majumdar, an ex-Venture Capitalist/ Investment Banker, a Chartered Accountant, and a Masters’ degree holder in Management from HEC Paris. Ishan has nearly a decade of experience in Mergers and Acquisitions, Leveraged Buyouts (LBOs), Venture Capital Investing, Corporate Strategy, and Valuation in front-office roles at the likes of BNP Paribas CIB, Credit Agricole CIB, Groupe Danone, and TIW Private Equity. He has worked on and closed multiple acquisition deals, leveraged buyouts, and start-up investment transactions.

Equity Capital Markets

<ul><li>Cummins had a successful first quarter, marked by a 12% increase in organic revenue growth, as well as higher-than-anticipated quarterly earnings before interest, taxes, depreciation, and amortization, net income, and earnings per share.</li><li>The higher EBITDA percentage was mainly driven by higher volumes and improved pricing, despite increased investment in new products and capabilities.</li><li>Operating cash flow was an inflow of $495 million, $331 million higher than the first quarter of last year, essentially due to higher earnings.</li></ul>

Cummins had a successful first quarter, marked by a 12% increase in organic revenue growth, as well as higher-than-anticipated quarterly earnings before interest, taxes, depreciation, and amortization, net income, and earnings per share.The higher EBITDA percentage was mainly driven by higher volumes and improved pricing, despite increased investment in new products and capabilities.Operating cash flow was an inflow of $495 million, $331 million higher than the first quarter of last year, essentially due to higher earnings.

Cummins Inc.: What Is Their Core Business Strategy? – Key Drivers

<ul><li>Cummins delivered a mixed set of results for the quarter, surpassing the revenue expectations of Wall Street but missing out on earnings.</li><li>Also, through its subsidiary Meritor, Cummins announced the completion of its acquisition of the commercial vehicles business of Siemens.</li><li>Demand for the products of the company remained quite strong across its key regions and markets, which resulted in strong revenue in this quarter.</li></ul>

Cummins delivered a mixed set of results for the quarter, surpassing the revenue expectations of Wall Street but missing out on earnings.Also, through its subsidiary Meritor, Cummins announced the completion of its acquisition of the commercial vehicles business of Siemens.Demand for the products of the company remained quite strong across its key regions and markets, which resulted in strong revenue in this quarter.

Cummins Inc: Acquisition Of Siemens’ Commercial Vehicles Business & Other Drivers

Equity Bottom-Up

<ul><li>Cummins delivered a third consecutive all-around beat in a quarter that was marked by a number of significant developments including many ke partnerships.</li><li>The company announced partnerships with Daimler Truck, Scania, and North America for delivering fuel cell electric powertrains for heavy-duty truck applications, with Komatsu on developing haulage equipment zero-emission which includes hydrogen fuel cell solutions for the large mining haul truck applications.</li><li>It also achieved a significant milestone in the quarter related to two acquisitions, namely Meritor and Jacobs Vehicle Systems.</li></ul>

Cummins delivered a third consecutive all-around beat in a quarter that was marked by a number of significant developments including many ke partnerships.The company announced partnerships with Daimler Truck, Scania, and North America for delivering fuel cell electric powertrains for heavy-duty truck applications, with Komatsu on developing haulage equipment zero-emission which includes hydrogen fuel cell solutions for the large mining haul truck applications.It also achieved a significant milestone in the quarter related to two acquisitions, namely Meritor and Jacobs Vehicle Systems.

Cummins Inc: The Meritor Acquisition & Other Drivers

<ul><li>Cummins continued its steady, mid-single-digit growth trajectory since the start of 2022 and reported a revenue of $6.4 billion, up 5% from the previous year.</li><li>Due to a sharp slowdown in China, the company’s international revenues fell by 3% but sales in North America increased by 12%.</li><li>The company’s international top-line was negatively impacted by 2% due to unfavourable currency movements.</li></ul>

Cummins continued its steady, mid-single-digit growth trajectory since the start of 2022 and reported a revenue of $6.4 billion, up 5% from the previous year.Due to a sharp slowdown in China, the company’s international revenues fell by 3% but sales in North America increased by 12%.The company’s international top-line was negatively impacted by 2% due to unfavourable currency movements.

Cummins Inc.: The Daimler Collaboration & Other Developments

United States

Cummins Inc. designs, manufactures, distributes and services diesel and natural gas engines. The Company also manufactures electric power generation systems and engine-related component products, including filtration and exhaust aftertreatment, fuel systems, controls, and air handling systems.

Price Gauge
52-week Range	0.00 - 0.00
Market Cap (USDm)	0.00
P/E	0.00
Dividend (Yield)	0.00

Cummins Inc (CMI US)

NIFTY NEXT 50 Index Market Consultation: Non-F&O Stocks Could Be Dropped

A market consultation could lead to the deletion of non-F&O stocks from the NIFTY NEXT50 index in September. That means 11 new index members and...

Brian Freitas

Cummins Inc.: What Is Their Core Business Strategy? – Key Drivers

Cummins had a successful first quarter, marked by a 12% increase in organic revenue growth, as well as higher-than-anticipated quarterly earnings...

Baptista Research

Cummins Inc: Acquisition Of Siemens’ Commercial Vehicles Business & Other Drivers

Cummins delivered a mixed set of results for the quarter, surpassing the revenue expectations of Wall Street but missing out on earnings. Also,...

Baptista Research

Cummins Inc: The Meritor Acquisition & Other Drivers

Cummins delivered a third consecutive all-around beat in a quarter that was marked by a number of significant developments including many ke...

Baptista Research

Cummins Inc.: The Daimler Collaboration & Other Developments

Cummins continued its steady, mid-single-digit growth trajectory since the start of 2022 and reported a revenue of $6.4 billion, up 5% from the...

Baptista Research

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)