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 Bottom-Up

<ul><li>Diageo is reportedly exploring strategic options for its China assets — including its controlling ~63% stake in Sichuan Swellfun — with Goldman Sachs and UBS engaged as advisors to seek preliminary interest from potential buyers.</li><li>This review comes as demand in China softens and global beverage alcohol firms reassess portfolio focus amid uneven consumer trends, making the potential divestment a significant strategic pivot.</li><li>The initiative is at an early stage, with no decisions made and Swellfun itself stating it has not been formally contacted about a sale.</li></ul>

Diageo is reportedly exploring strategic options for its China assets — including its controlling ~63% stake in Sichuan Swellfun — with Goldman Sachs and UBS engaged as advisors to seek preliminary interest from potential buyers.This review comes as demand in China softens and global beverage alcohol firms reassess portfolio focus amid uneven consumer trends, making the potential divestment a significant strategic pivot.The initiative is at an early stage, with no decisions made and Swellfun itself stating it has not been formally contacted about a sale.

Diageo’s China Unwind: Goldman & UBS Called In As Exit Looms!

<ul><li>Diageo's earnings call provides a mixed landscape with regards to its fiscal 2025 results and outlook for fiscal 2026.</li><li>The key areas of focus revolve mainly around dealing with the current market dynamics in the U.S., reinvigorating growth in Europe, and optimizing global brand performance amid a challenging economic environment.</li><li>In the U.S., Diageo worked towards normalizing inventory levels during fiscal 2025, which has been largely achieved.</li></ul>

Diageo's earnings call provides a mixed landscape with regards to its fiscal 2025 results and outlook for fiscal 2026.The key areas of focus revolve mainly around dealing with the current market dynamics in the U.S., reinvigorating growth in Europe, and optimizing global brand performance amid a challenging economic environment.In the U.S., Diageo worked towards normalizing inventory levels during fiscal 2025, which has been largely achieved.

Diageo: How Will Its Power Moves in No- and Low-Alcohol Change the Market?

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

Financial Select Sector SPDR F / Technical Analysis

<ul>
<li>We will stay near-term bullish as long as crucial support levels of 6780-6824 on SPX and $255-$257 on IWM continue to hold. With that said, we continue to see deterioration...</li>
<li>...in market dynamics that has us concerned of a deeper pullback, potentially to 6720-6776, 6690, or 6480-6520 on SPX, but 6780-6824 support would need to break first</li>
<li>Financials (XLF) and Discretionary (XLY) are violating crucial price and RS supports, and we are downgrading both Sectors to underweight</li>
</ul>


We will stay near-term bullish as long as crucial support levels of 6780-6824 on SPX and $255-$257 on IWM continue to hold. With that said, we continue to see deterioration...
...in market dynamics that has us concerned of a deeper pullback, potentially to 6720-6776, 6690, or 6480-6520 on SPX, but 6780-6824 support would need to break first
Financials (XLF) and Discretionary (XLY) are violating crucial price and RS supports, and we are downgrading both Sectors to underweight


Defensives Still Leading; Deeper Pullback?; Downgrading Financials and Discretionary to Underweight

India Equity Analyst - Fundamental & Thematic, Beat the Street

Sudarshan Bhandari

India Equity Analyst - Fundamental & Thematic

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>HDFC Bank raises fixed deposit rates to 7.35% and 7.40% for specific tenors.</li>
<li>Adani Green Energy starts 250 MW wind project, boosting total capacity to 2,250 MW.</li>
<li>EQT exits RBL Bank with Rs 1,100 crore stake sale; shares drop 3%.</li>
</ul>


HDFC Bank raises fixed deposit rates to 7.35% and 7.40% for specific tenors.
Adani Green Energy starts 250 MW wind project, boosting total capacity to 2,250 MW.
EQT exits RBL Bank with Rs 1,100 crore stake sale; shares drop 3%.


# 34 India Insight: HDFC Raises FD, Adani Green 250 MW Wind Project, EQT Exits RBL

Selected Quarterly & Annual Newsletters from Funds, Fund Newsletters

Fund Newsletters

Selected Quarterly & Annual Newsletters from Funds

<ul>
<li>Tweedy, Browne Company LLC provides investment advisory services. The Company offers portfolio management, financial planning, and consulting services for individuals, institutions, partnerships, pension and profit-sharing plans, charitable foundations, trusts, and offshore funds. Tweedy, Browne serves investors in the U.S.</li>
<li>In this volatile environment, the Tweedy, Browne Funds trailed their respective primary benchmark indices for the quarter.</li>
<li>Returns for the quarter were led by solid results from a number of our branded consumer product holdings.</li>
<li>As a result of the ongoing volatility, our fundportfolios over the last year havebeen in the process of becoming refreshedwith a significant number of new stocks.</li>
<li>Theopportunity set being presented tous today in non-US equities is one of thebest we have seen in well over adecade.</li>
</ul>


Tweedy, Browne Company LLC provides investment advisory services. The Company offers portfolio management, financial planning, and consulting services for individuals, institutions, partnerships, pension and profit-sharing plans, charitable foundations, trusts, and offshore funds. Tweedy, Browne serves investors in the U.S.
In this volatile environment, the Tweedy, Browne Funds trailed their respective primary benchmark indices for the quarter.
Returns for the quarter were led by solid results from a number of our branded consumer product holdings.
As a result of the ongoing volatility, our fundportfolios over the last year havebeen in the process of becoming refreshedwith a significant number of new stocks.
Theopportunity set being presented tous today in non-US equities is one of thebest we have seen in well over adecade.


United Kingdom

Diageo is a British multinational alcoholic beverage company that produces, distributes, and markets a diverse portfolio of spirits, beer, and wine. Key brands include Johnnie Walker, Guinness, Smirnoff, Tanqueray, Baileys, Captain Morgan, Don Julio, and Casamigos. The company is headquartered in London, England, and was formed in 1997 through the merger of Guinness plc and Grand Metropolitan plc.

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Diageo (DEO US)

Diageo’s China Unwind: Goldman & UBS Called In As Exit Looms!

Diageo is reportedly exploring strategic options for its China assets — including its controlling ~63% stake in Sichuan Swellfun — with Goldman...

Baptista Research

Diageo: How Will Its Power Moves in No- and Low-Alcohol Change the Market?

Diageo's earnings call provides a mixed landscape with regards to its fiscal 2025 results and outlook for fiscal 2026. The key areas of focus...

Baptista Research

Defensives Still Leading; Deeper Pullback?; Downgrading Financials and Discretionary to Underweight

Defensives Still Leading; Deeper Pullback Coming?; Downgrading Financials $XLF and Discretionary $XLY $XRT to Underweight. Crucial support levels...

Vermilion Research

# 34 India Insight: HDFC Raises FD, Adani Green 250 MW Wind Project, EQT Exits RBL

HDFC Bank raises fixed deposit rates, Adani Green Energy expands wind project capacity, EQT exits RBL Bank causing share drop.

Sudarshan Bhandari

Tweedy, Browne Fund Q3 2022 Commentary

Tweedy, Browne Company LLC provides investment advisory services. The Company offers portfolio management, financial planning, and consulting...

Fund Newsletters

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Diageo’s China Unwind: Goldman & UBS Called In As Exit Looms!

Diageo is reportedly exploring strategic options for its China assets — including its controlling ~63% stake in Sichuan Swellfun — with Goldman...

Baptista Research

Diageo: How Will Its Power Moves in No- and Low-Alcohol Change the Market?

Diageo's earnings call provides a mixed landscape with regards to its fiscal 2025 results and outlook for fiscal 2026. The key areas of focus...

Baptista Research

Defensives Still Leading; Deeper Pullback?; Downgrading Financials and Discretionary to Underweight

Defensives Still Leading; Deeper Pullback Coming?; Downgrading Financials $XLF and Discretionary $XLY $XRT to Underweight. Crucial support levels...

Vermilion Research

# 34 India Insight: HDFC Raises FD, Adani Green 250 MW Wind Project, EQT Exits RBL

​HDFC Bank raises fixed deposit rates, Adani Green Energy expands wind project capacity, EQT exits RBL Bank causing share drop.

Sudarshan Bhandari

Tweedy, Browne Fund Q3 2022 Commentary

Tweedy, Browne Company LLC provides investment advisory services. The Company offers portfolio management, financial planning, and consulting...

Fund Newsletters

HDFC Bank raises fixed deposit rates, Adani Green Energy expands wind project capacity, EQT exits RBL Bank causing share drop.