Derivatives and Quantitative Strategist

Gaudenz Schneider

Equity Bottom-Up

<ul>
<li>
Context: This Insight follows up on previously highlighted relative value opportunities, using a statistical methodology based on mean-reversion to identify opportunities in paired securities.</li>
<li>
Highlights: Currently 14 pair trade opportunities across four markets and five sectors persist.</li>
<li>
Why read: Statistical analysis offers a unique perspective on relative value. Gain insights into actionable statistical pair trade opportunities and monitor performance of previously highlighted pairs.</li>
</ul>



Context: This Insight follows up on previously highlighted relative value opportunities, using a statistical methodology based on mean-reversion to identify opportunities in paired securities.

Highlights: Currently 14 pair trade opportunities across four markets and five sectors persist.

Why read: Statistical analysis offers a unique perspective on relative value. Gain insights into actionable statistical pair trade opportunities and monitor performance of previously highlighted pairs.


Relative Value Opportunities in Asia-Pac, Pair Trade Roundup (10 Nov)

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

Physicswallah Limited / Equity Capital Markets

<ul>
<li>
<a href="https://www.smartkarma.com/entities/physicswallah-limited" target="_blank" data-smartkarma-citation="entities:45792:1" rel="noopener">Physicswallah</a> Is looking to raise about US$434m in its upcoming India IPO.</li>
<li>Physicswallah Ltd (PWL) offers test preparation courses for competitive examinations, and other courses such as for upskilling, across 13 education categories, including JEE, NEET, and UPSC, among others.</li>
<li>In this note, we talk about the not-so-positive aspects of the deal.</li>
</ul>



Physicswallah Is looking to raise about US$434m in its upcoming India IPO.
Physicswallah Ltd (PWL) offers test preparation courses for competitive examinations, and other courses such as for upskilling, across 13 education categories, including JEE, NEET, and UPSC, among others.
In this note, we talk about the not-so-positive aspects of the deal.


Physicswallah Pre-IPO - The Negatives - Underlying Growth Rate Remains Unclear

Asia Pac ECM and Index Rebal, Shenton Research

Ke Yan, CFA, FRM

Asia Pac ECM and Index Rebal

Asia Pac IPO & Placement Research, China Biotech

DZT Research

DZT Research is an independent Asia Pacific equity specialist. Our quantitative research covers index rebalancing flows, alongside exchange data analytics accross Asia Pacific. On the equity capital markets side, we focus on Asia Pacific ECM, especially biotech and TMT. Our lead analyst is frequently cited by international media.

Quantitative Analysis

<ul>
<li>We analysed the earning revision of component stocks of NIFTY in the past month.</li>
<li>We tabulated stocks with the top impact on index's EPS, stocks' EPS revision, and revenue revision.</li>
<li>We highlighted EPS revision on Adani Enterprises, JSW Steel, ICICI Bank, Infosys, Tata Motors, HDFC Bank, Coal India, Eternal, Hdfc Bank, Icici Bank, Infosys, Tata Motors, Coal India, Jsw Steel.</li>
</ul>


We analysed the earning revision of component stocks of NIFTY in the past month.
We tabulated stocks with the top impact on index's EPS, stocks' EPS revision, and revenue revision.
We highlighted EPS revision on Adani Enterprises, JSW Steel, ICICI Bank, Infosys, Tata Motors, HDFC Bank, Coal India, Eternal, Hdfc Bank, Icici Bank, Infosys, Tata Motors, Coal India, Jsw Steel.


NIFTY Index Earning Revision (Oct): Adani Enterprises, JSW Steel, ICICI Bank, Infosys, Tata Motors

<ul>
<li>
Context: This Insight follows up on previously highlighted relative value opportunities, using a statistical methodology based on mean-reversion to identify opportunities in paired securities.</li>
<li>
Highlights: Currently ten pair trade opportunities across three markets and three sectors persist.</li>
<li>
Why read: Statistical analysis offers a unique perspective on relative value. Gain insights into actionable statistical pair trade opportunities and monitor performance of previously highlighted pairs.</li>
</ul>



Context: This Insight follows up on previously highlighted relative value opportunities, using a statistical methodology based on mean-reversion to identify opportunities in paired securities.

Highlights: Currently ten pair trade opportunities across three markets and three sectors persist.

Why read: Statistical analysis offers a unique perspective on relative value. Gain insights into actionable statistical pair trade opportunities and monitor performance of previously highlighted pairs.


Relative Value Opportunities in Asia-Pac, Pair Trade Roundup (3 Nov)

<ul>
<li>
<a href="https://www.smartkarma.com/entities/lenskart-solutions" target="_blank" data-smartkarma-citation="entities:45634:1" rel="noopener">Lenskart Solutions</a> is looking to raise about US$825m in its upcoming India IPO.</li>
<li>Lenskart Solutions Limited (LSL) is a technology-driven eyewear company with integrated operations spanning designing, manufacturing, branding and retailing of eyewear products.</li>
<li>We have looked at the past performance in our previous note. In this note, we talk about the RHP updates and valuations.</li>
</ul>



Lenskart Solutions is looking to raise about US$825m in its upcoming India IPO.
Lenskart Solutions Limited (LSL) is a technology-driven eyewear company with integrated operations spanning designing, manufacturing, branding and retailing of eyewear products.
We have looked at the past performance in our previous note. In this note, we talk about the RHP updates and valuations.


Lenskart Solutions IPO - Is Pricey but Has a Strong Market Position

India

HDFC Life Insurance Company Limited, doing business as HDFC Life, is an Indian life insurance company offering individual and group insurance solutions including protection, pension, savings, investment, annuity, and health plans. It operates through a multi-channel distribution network across India. The company is headquartered in Mumbai, India, and was incorporated in 2000.

Price Gauge
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HDFC Life (HDFCLIFE IN)

Relative Value Opportunities in Asia-Pac, Pair Trade Roundup (10 Nov)

Statistical methodology identifies 15 pair trade opportunities across four markets and five sectors, offering unique insights into relative value.

Gaudenz Schneider

Physicswallah Pre-IPO - The Negatives - Underlying Growth Rate Remains Unclear

Physicswallah Is looking to raise about US$434m in its upcoming India IPO. In this note, we talk about the not-so-positive aspects of the deal.

Sumeet Singh

NIFTY Index Earning Revision (Oct): Adani Enterprises, JSW Steel, ICICI Bank, Infosys, Tata Motors

We analyzed NIFTY's consensus for Oct 2025 and highlighted changes of EPS in Adani Enterprises (ADE/S IN), JSW Steel (JSTL IN), ICICI Bank (ICICIBC...

Ke Yan, CFA, FRM

Relative Value Opportunities in Asia-Pac, Pair Trade Roundup (3 Nov)

Statistical methodology identifies ten pair trade opportunities across three markets and three sectors, offering unique insights into relative value.

Gaudenz Schneider

Lenskart Solutions IPO - Is Pricey but Has a Strong Market Position

Lenskart Solutions is looking to raise about US$825m in its upcoming India IPO. In this note, we talk about the RHP updates and valautions.

Sumeet Singh

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Relative Value Opportunities in Asia-Pac, Pair Trade Roundup (10 Nov)

​Statistical methodology identifies 15 pair trade opportunities across four markets and five sectors, offering unique insights into relative value.

Gaudenz Schneider

Physicswallah Pre-IPO - The Negatives - Underlying Growth Rate Remains Unclear

Physicswallah Is looking to raise about US$434m in its upcoming India IPO. In this note, we talk about the not-so-positive aspects of the deal.

Sumeet Singh

NIFTY Index Earning Revision (Oct): Adani Enterprises, JSW Steel, ICICI Bank, Infosys, Tata Motors

We analyzed NIFTY's consensus for Oct 2025 and highlighted changes of EPS in Adani Enterprises (ADE/S IN), JSW Steel (JSTL IN), ICICI Bank (ICICIBC...

Ke Yan, CFA, FRM

Relative Value Opportunities in Asia-Pac, Pair Trade Roundup (3 Nov)

​Statistical methodology identifies ten pair trade opportunities across three markets and three sectors, offering unique insights into relative value.

Gaudenz Schneider

Lenskart Solutions IPO - Is Pricey but Has a Strong Market Position

Lenskart Solutions is looking to raise about US$825m in its upcoming India IPO. In this note, we talk about the RHP updates and valautions.

Sumeet Singh

Statistical methodology identifies 15 pair trade opportunities across four markets and five sectors, offering unique insights into relative value.

Statistical methodology identifies ten pair trade opportunities across three markets and three sectors, offering unique insights into relative value.