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

<ul>
<li>Following their inclusion in the F&amp;O segment in November, <a href="https://www.smartkarma.com/entities/zomato-ltd" target="_blank" data-smartkarma-citation="entities:28820:1" rel="noopener">Zomato (ZOMATO IN)</a> and <a href="https://www.smartkarma.com/entities/jio-financial-services-limited" target="_blank" data-smartkarma-citation="entities:40042:1" rel="noopener">Jio Financial Services (JIOFIN IN)</a> appear to be sure-shot inclusions to the <a href="https://www.smartkarma.com/entities/nifty-index" target="_blank" data-smartkarma-citation="entities:23617:1" rel="noopener">NIFTY Index</a> in March.</li>
<li>
<a href="https://www.smartkarma.com/entities/bharat-petroleum-corp-ltd" target="_blank" data-smartkarma-citation="entities:10222:1" rel="noopener">Bharat Petroleum Corp (BPCL IN)</a> is a certain deletion from the index. <a href="https://www.smartkarma.com/entities/britannia-industries-ltd" target="_blank" data-smartkarma-citation="entities:16495:1" rel="noopener">Britannia Industries</a>' average free-float market cap is less than 0.004% below <a href="https://www.smartkarma.com/entities/hero-motocorp-ltd" target="_blank" data-smartkarma-citation="entities:2391:1" rel="noopener">Hero Motocorp</a>'s. It's very close.</li>
<li>Passive trackers need to trade between 3.7-11.8 days of ADV on the stocks. The impact increases significantly to between 8.4-21.8 days of delivery volume to trade on the stocks.</li>
</ul>


Following their inclusion in the F&amp;O segment in November, Zomato (ZOMATO IN) and Jio Financial Services (JIOFIN IN) appear to be sure-shot inclusions to the NIFTY Index in March.

Bharat Petroleum Corp (BPCL IN) is a certain deletion from the index. Britannia Industries' average free-float market cap is less than 0.004% below Hero Motocorp's. It's very close.
Passive trackers need to trade between 3.7-11.8 days of ADV on the stocks. The impact increases significantly to between 8.4-21.8 days of delivery volume to trade on the stocks.


NIFTY50 Index Rebalance Preview: Adds Secure; Tight Among the Deletes

Index Rebal Trades & Special Situations, Quiddity Advisors

Janaghan Jeyakumar, CFA

Index Rebal Trades & Special Situations

Quiddity Advisors

Pan-Asia Catalysts/Events

<ul>
<li>NIFTY 50 represents the 50 largest stocks listed in the National Stock Exchange (NSE) of India and the NIFTY Next 50 index tracks the next 50 largest names.</li>
<li>In this insight, we are presenting our final expectations for ADDs and DELs for the March 2025 index rebal event.</li>
<li>We see two changes for NIFTY 50 and four changes for NIFTY 100. We expect the results to be announced in the next few days.</li>
</ul>


NIFTY 50 represents the 50 largest stocks listed in the National Stock Exchange (NSE) of India and the NIFTY Next 50 index tracks the next 50 largest names.
In this insight, we are presenting our final expectations for ADDs and DELs for the March 2025 index rebal event.
We see two changes for NIFTY 50 and four changes for NIFTY 100. We expect the results to be announced in the next few days.


Quiddity Leaderboard NIFTY Mar 25: Final Expectations; Expected DELs Could Underperform Index

Head of Research, IPOs & Placements, Aequitas Research

Sumeet Singh

Head of Research, IPOs & Placements

IPOs and Placements coverage across Asia Pacific

Aequitas Research

We cover all listing across the Asia Pacific along with follow-up placements. As of Dec 2020, our team had covered 539 IPOs with a hit rate of 73.5% and 685 placements with a hit rate of 66.8%.

We combine fundamental bottom-up views with our proprietary quantitative framework to provide a holistic coverage across new listings and placements. Our coverage includes pre-IPO notes before the deal is launched, follow-up analysis once the deal is live and post-listing trading analysis as well.

Equity Capital Markets

BrainBees Solutions / Equity Capital Markets

<ul>
<li>
<a href="https://www.smartkarma.com/entities/brainbees-solutions-limited" target="_blank" data-smartkarma-citation="entities:36115:1" rel="noopener">BrainBees Solutions (FIRSTCRY IN)</a> (FirstCry) raised around US$500m in its August 2024 India IPO. The lockup on its pre-IPO investors is set to expire soon.</li>
<li>In India, FirstCry sells Mothers’, Babies’ and Kids’ products through its online platform, company-owned modern stores, franchisee-owned modern stores and general trade retail distribution.</li>
<li>In this note, we will talk about the lockup dynamics and possible placement.</li>
</ul>



BrainBees Solutions (FIRSTCRY IN) (FirstCry) raised around US$500m in its August 2024 India IPO. The lockup on its pre-IPO investors is set to expire soon.
In India, FirstCry sells Mothers’, Babies’ and Kids’ products through its online platform, company-owned modern stores, franchisee-owned modern stores and general trade retail distribution.
In this note, we will talk about the lockup dynamics and possible placement.


Brainbees Solutions (FirstCry) - US$2bn IPO Lockup Expiry with Most Investors Still in the Money

<ul>
<li>
<a href="https://www.smartkarma.com/entities/ather-energy" target="_blank" data-smartkarma-citation="entities:43903:1" rel="noopener">Ather Energy</a> is looking to raise about US$536m in its upcoming India IPO.</li>
<li>Ather is a pure play electric vehicle company in India designing and developing E2Ws, battery packs, charging infrastructure, associated software and accessories, also manufacturing battery packs and assembling E2Ws in-house.</li>
<li>In this note, we talk about the not-so-positive aspects of the deal.</li>
</ul>



Ather Energy is looking to raise about US$536m in its upcoming India IPO.
Ather is a pure play electric vehicle company in India designing and developing E2Ws, battery packs, charging infrastructure, associated software and accessories, also manufacturing battery packs and assembling E2Ws in-house.
In this note, we talk about the not-so-positive aspects of the deal.


Ather Energy Pre-IPO - The Negatives - Outpaced by Rivals

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>GAIL and BPCL have partnered with Chhattisgarh Biofuel Development Authority to establish compressed biogas plants in six cities, utilizing urban waste for clean energy production, promoting sustainability, and creating jobs.</li>
<li>India’s 2025-26 budget is expected to allocate Rs 30,000 crore to new and renewable energy, with PM Surya Ghar scheme aiming for 50 lakh rooftop solar installations by 2026.</li>
<li>Airtel and Bajaj Finance have partnered to create a digital financial services platform. Initially, Airtel will offer Bajaj Finance’s products via its Airtel Thanks App, expanding to nationwide stores later.</li>
</ul>


GAIL and BPCL have partnered with Chhattisgarh Biofuel Development Authority to establish compressed biogas plants in six cities, utilizing urban waste for clean energy production, promoting sustainability, and creating jobs.
India’s 2025-26 budget is expected to allocate Rs 30,000 crore to new and renewable energy, with PM Surya Ghar scheme aiming for 50 lakh rooftop solar installations by 2026.
Airtel and Bajaj Finance have partnered to create a digital financial services platform. Initially, Airtel will offer Bajaj Finance’s products via its Airtel Thanks App, expanding to nationwide stores later.


#91 India Insight: GAIL, BPCL Biogas Plants; Airtel, Bajaj Launch ; ₹30k Cr for Renewable Energy

India

Eternal Limited is an online restaurant guide and food ordering platform. The Company offers platform connects customers, restaurants, and delivery partners to search and discover restaurants, read and write customer generated reviews, order food delivery, book a table, and make payments while dining-out at restaurants. Eternal serves customers worldwide.

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

Eternal (ETERNAL IN)

NIFTY50 Index Rebalance Preview: Adds Secure; Tight Among the Deletes

Zomato and JioFin should replace BPCL and Britannia in March. Hero Motors just avoids deletion for now. Passives need to trade 3.7-11.8x ADV (8.4...

Brian Freitas

Quiddity Leaderboard NIFTY Mar 25: Final Expectations; Expected DELs Could Underperform Index

The NIFTY 50 and NIFTY 100 expected DELs have been underperforming the NIFTY 50 index over the last few months and that could continue over the...

Janaghan Jeyakumar, CFA

Brainbees Solutions (FirstCry) - US$2bn IPO Lockup Expiry with Most Investors Still in the Money

BrainBees Solutions (FIRSTCRY IN) (FirstCry) raised around US$500m in its August 2024 India IPO. The lockup on its pre-IPO investors is set to...

Sumeet Singh

Ather Energy Pre-IPO - The Negatives - Outpaced by Rivals

Ather Energy is looking to raise about US$536m in its upcoming India IPO. In this note, we talk about the not-so-positive aspects of the deal.

Sumeet Singh

#91 India Insight: GAIL, BPCL Biogas Plants; Airtel, Bajaj Launch ; ₹30k Cr for Renewable Energy

GAIL and BPCL partner with Chhattisgarh for biogas plants, India's budget to allocate Rs 30,000 crore for renewable energy, Airtel and Bajaj...

Sudarshan Bhandari

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

NIFTY50 Index Rebalance Preview: Adds Secure; Tight Among the Deletes

Zomato and JioFin should replace BPCL and Britannia in March. Hero Motors just avoids deletion for now. Passives need to trade 3.7-11.8x ADV (8.4...

Brian Freitas

Quiddity Leaderboard NIFTY Mar 25: Final Expectations; Expected DELs Could Underperform Index

The NIFTY 50 and NIFTY 100 expected DELs have been underperforming the NIFTY 50 index over the last few months and that could continue over the...

Janaghan Jeyakumar, CFA

Brainbees Solutions (FirstCry) - US$2bn IPO Lockup Expiry with Most Investors Still in the Money

BrainBees Solutions (FIRSTCRY IN) (FirstCry) raised around US$500m in its August 2024 India IPO. The lockup on its pre-IPO investors is set to...

Sumeet Singh

Ather Energy Pre-IPO - The Negatives - Outpaced by Rivals

Ather Energy is looking to raise about US$536m in its upcoming India IPO. In this note, we talk about the not-so-positive aspects of the deal.

Sumeet Singh

#91 India Insight: GAIL, BPCL Biogas Plants; Airtel, Bajaj Launch ; ₹30k Cr for Renewable Energy

​GAIL and BPCL partner with Chhattisgarh for biogas plants, India's budget to allocate Rs 30,000 crore for renewable energy, Airtel and Bajaj...

Sudarshan Bhandari

GAIL and BPCL partner with Chhattisgarh for biogas plants, India's budget to allocate Rs 30,000 crore for renewable energy, Airtel and Bajaj...