Co-founder & Managing Director, Marketnomix 

Rajan Govil

Co-founder & Managing Director

Marketnomix 

Macroeconomics

Index of Industrial Production (IIP) grew 0.1% y-o-y in March 2016 compared to a growth of 2% y-o-y in February 2016 as per official figures. After adjusting for one additional working day in February (there were 21 working days in February 2016 compared to 20 working days in February 2015), IIP in February had seen a decline of 2.9% y-o-y in February 2016. The latest reading for March thus continues to reflect weakness in industrial output. For the quarter ended March 2016, production grew by…

Index of Industrial Production (IIP) grew 0.1% y-o-y in March 2016 compared to a growth of 2% y-o-y in February 2016 as per official figures. After adjusting for one additional working day in February (there were 21 working days in February 2016 compared to 20 working days in February 2015), IIP in February had seen a decline of 2.9% y-o-y in February 2016. The latest reading for March thus continues to reflect weakness in industrial output. For the quarter ended March 2016, production grew by…

India: Manufacturing Output Remains Weak, Declining for Fifth Straight Month

Consumer Price Index (CPI) inflation increased to 5.4% y-o-y in April 2016 compared to a 4.8% y-o-y rise in March 2016. Inflation was driven higher mainly by price increases in food and transportation.Food prices increased 6.3% y-o-y in April 2016, compared to a 5.2% y-o-y rise in March 2016. The contribution of food prices to overall inflation increased from 2.4% in March 2016 to 2.9% in April 2016. This was largely due to a sharp jump in vegetable prices that increased 5.0% y-o-y in April…

Consumer Price Index (CPI) inflation increased to 5.4% y-o-y in April 2016 compared to a 4.8% y-o-y rise in March 2016. Inflation was driven higher mainly by price increases in food and transportation.Food prices increased 6.3% y-o-y in April 2016, compared to a 5.2% y-o-y rise in March 2016. The contribution of food prices to overall inflation increased from 2.4% in March 2016 to 2.9% in April 2016. This was largely due to a sharp jump in vegetable prices that increased 5.0% y-o-y in April…

India: Consumer Price Index Inflation Back Above 5.0%

<ul><li>Growth outlook remains tilted to the downside.</li><li>Vulnerability to fiscal shortfalls and external financing is rising.</li><li>Policy rates are likely to remain under downward pressure as also the overvalued rupee</li></ul>

Growth outlook remains tilted to the downside.Vulnerability to fiscal shortfalls and external financing is rising.Policy rates are likely to remain under downward pressure as also the overvalued rupee

Information Technology Consultant

Ishita Jain

Thematic (Sector/Industry)

On Feb 13th, 2016, "Make in India" week was flagged off in Mumbai. 5000 delegates from 190 companies based in 60 countries participated in the event and it was nothing short of a carnival celebrating the prospects of a brighter future for India’s manufacturing industry. This was the first of many events planned for Narendra Modi's flagship Make in India campaign launched in 2014. The initiative hopes to attract capital and technological investment to India and make it the top destination globally for foreign direct investment. Make in India is an exciting venture. In the following insight, I have given an overview of the initiative and stated some of the good things and some of the gaps around it. I am going to present more analysis as I discover more in the coming few days. Look out for the forks!

On Feb 13th, 2016, "Make in India" week was flagged off in Mumbai. 5000 delegates from 190 companies based in 60 countries participated in the event and it was nothing short of a carnival celebrating the prospects of a brighter future for India’s manufacturing industry. This was the first of many events planned for Narendra Modi's flagship Make in India campaign launched in 2014. The initiative hopes to attract capital and technological investment to India and make it the top destination globally for foreign direct investment. Make in India is an exciting venture. In the following insight, I have given an overview of the initiative and stated some of the good things and some of the gaps around it. I am going to present more analysis as I discover more in the coming few days. Look out for the forks!

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>There are 6 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>, 16 changes for the NIFTY Midcap 150 Index, and 33 changes for the NIFTY Smallcap 250 Index.</li>
<li>The largest passive flows are in 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</a> changes but there are a lot of active assets tracking the NIFTY Midcap 150 Index.</li>
<li>The outright adds to 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</a> and the Nifty Midcap 150 Index have outperformed the outright deletes over the last few months.</li>
</ul>


There are 6 changes for the NSE Nifty Next 50 Index (NIFTYJR INDEX), 16 changes for the NIFTY Midcap 150 Index, and 33 changes for the NIFTY Smallcap 250 Index.
The largest passive flows are in the NSE Nifty Next 50 Index changes but there are a lot of active assets tracking the NIFTY Midcap 150 Index.
The outright adds to the NSE Nifty Next 50 Index and the Nifty Midcap 150 Index have outperformed the outright deletes over the last few months.


NIFTY Family Index Rebalance: Over US$1.7bn to Trade Across Indices

India

Havells India is a multinational fast-moving electrical goods (FMEG) company that manufactures and distributes a diverse range of industrial and consumer electrical products. Their offerings include circuit protection devices, cables and wires, motors, fans, modular switches, lighting, home appliances, and air conditioners. The company is headquartered in Noida, Uttar Pradesh, India, and was founded in 1958.

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Havells India (HAVL IN)

India: Manufacturing Output Remains Weak, Declining for Fifth Straight Month

Index of Industrial Production (IIP) grew 0.1% y-o-y in March 2016 compared to a growth of 2% y-o-y in February 2016 as per official figures. After...

Rajan Govil

India: Consumer Price Index Inflation Back Above 5.0%

Consumer Price Index (CPI) inflation increased to 5.4% y-o-y in April 2016 compared to a 4.8% y-o-y rise in March 2016. Inflation was driven higher...

Rajan Govil

Marketnomix Country Insights - INDIA

Growth outlook remains tilted to the downside. Vulnerability to fiscal shortfalls and external financing is rising. Policy rates are likely to...

Rajan Govil

Make in India – A Leap of Faith

On Feb 13th, 2016, "Make in India" week was flagged off in Mumbai. 5000 delegates from 190 companies based in 60 countries participated in the...

Ishita Jain

NIFTY Family Index Rebalance: Over US$1.7bn to Trade Across Indices

There are plenty of changes to the NIFTY family of indices in March. The net round-trip trade across all indices is estimated at INR 157.7bn...

Brian Freitas

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