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>A big rally in <a href="https://www.smartkarma.com/entities/hitachi-energy-india-limited" target="_blank" data-smartkarma-citation="entities:36054:1" rel="noopener">Hitachi Energy India (POWERIND IN)</a> this year could lead to the stock being added to a global index in August.</li>
<li>
<a href="https://www.smartkarma.com/entities/hitachi-energy-india-limited" target="_blank" data-smartkarma-citation="entities:36054:1" rel="noopener">Hitachi Energy India (POWERIND IN)</a> has outperformed its peers and now trades at significantly higher valuations compared to its peer group.</li>
<li>There is positioning in the stock and early entrants could be looking to unwind some of their holdings over the next couple of weeks.</li>
</ul>


A big rally in Hitachi Energy India (POWERIND IN) this year could lead to the stock being added to a global index in August.

Hitachi Energy India (POWERIND IN) has outperformed its peers and now trades at significantly higher valuations compared to its peer group.
There is positioning in the stock and early entrants could be looking to unwind some of their holdings over the next couple of weeks.


Hitachi Energy India (POWERIND IN): Powering into a Global Index in August

Asia Pac IPO & Placement Research, China biotech, Aequitas Research

Ke Yan, CFA, FRM

Asia Pac IPO & Placement Research, China biotech

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.

Quantitative Analysis

<ul>
<li>We analysed the earning revision of component stocks of MSCI India 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, Shriram Finance, Bharat Petroleum, One 97 Communications, State Bank of India, GMR Airports, Fortis Healthcare, Oil India, Shriram Finance, Oil India.</li>
</ul>


We analysed the earning revision of component stocks of MSCI India 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, Shriram Finance, Bharat Petroleum, One 97 Communications, State Bank of India, GMR Airports, Fortis Healthcare, Oil India, Shriram Finance, Oil India.


MSCI India Index Earning Revision (Nov): Adani Enterprises, Shriram Finance, Bharat Petroleum

External broker reports(aggregated public sources), HDFC Securities

HDFC Securities

External broker reports(aggregated public sources)

HDFC securities is the best online trading platform for stocks, IPOs, mutual fund in India. 

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

Thematic (Sector/Industry)

<ul><li>In Q2/H1FY26, we haven’t seen any pick-up in road awards as NHAI ordering remains subpar</li><li>Whilst the award pipeline is pegged at INR 3.5trn, movement on order book conversion has been slow</li><li>Of this, BOT is 20%, EPC 10%, and HAM 70%</li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

In Q2/H1FY26, we haven’t seen any pick-up in road awards as NHAI ordering remains subparWhilst the award pipeline is pegged at INR 3.5trn, movement on order book conversion has been slowOf this, BOT is 20%, EPC 10%, and HAM 70%Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Industrials (Q2FY26 Results Preview): Domestic ordering tepid, export order saviour

Global Materials | Industrials | Commodities

Rahul Jain

<ul>
<li>The exponential rise in AI workloads is triggering a global data center power crunch, with Asia facing the sharpest grid stress due to dense urban clusters and limited transmission infrastructure.</li>
<li>Japanese grid and power equipment firms are stepping in as key enablers, supplying transformers, substations, and energy management systems to support hyperscale AI deployments across Asia.</li>
<li>Top picks include Toshiba Energy, Hitachi Energy, and Fuji Electric, each positioned to capture structural AI-driven grid upgrades in India, Japan, and Southeast Asia.</li>
</ul>


The exponential rise in AI workloads is triggering a global data center power crunch, with Asia facing the sharpest grid stress due to dense urban clusters and limited transmission infrastructure.
Japanese grid and power equipment firms are stepping in as key enablers, supplying transformers, substations, and energy management systems to support hyperscale AI deployments across Asia.
Top picks include Toshiba Energy, Hitachi Energy, and Fuji Electric, each positioned to capture structural AI-driven grid upgrades in India, Japan, and Southeast Asia.


AI’s Power Bottleneck Becomes a Grid Opportunity

<ul><li>We expect a favorable risk-reward with EPC sector at cyclically low valuation.</li><li>One can add strong balance sheet plays as (1) ordering remaining strong in renewables, T&amp;D, buildings, and revival expected in water &amp; railways, while roads will be muted, (2) asset monetization fructifying, (3) strong balance sheets and stable NWC days, and (4) likely improvement in cash flow generation.</li><li>LT, Cummins India, Siemens Energy and Kalpataru are our top picks in the capital goods space. In the infra space, we like HG, PNC and NCC.</li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

We expect a favorable risk-reward with EPC sector at cyclically low valuation.One can add strong balance sheet plays as (1) ordering remaining strong in renewables, T&amp;D, buildings, and revival expected in water &amp; railways, while roads will be muted, (2) asset monetization fructifying, (3) strong balance sheets and stable NWC days, and (4) likely improvement in cash flow generation.LT, Cummins India, Siemens Energy and Kalpataru are our top picks in the capital goods space. In the infra space, we like HG, PNC and NCC.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Industrials (Q1FY26 Results Preview): Ordering pick-up awaited

India

Hitachi Energy India Limited manufactures electrical equipment.

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

Hitachi Energy India (POWERIND IN)