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 22 changes for the Nifty200 Momentum 30 Index and 1 change for the Nifty100 Low Volatility 30 Index that will be implemented at the close on 29 June.</li>
<li>The round-trip trade across both indices is estimated at just over US$2bn and there are 18 stocks that have over 1x ADV to trade from passives.</li>
<li>A number of the inclusions will have inflows from global and local passive trackers over the next few months.</li>
</ul>


There are 22 changes for the Nifty200 Momentum 30 Index and 1 change for the Nifty100 Low Volatility 30 Index that will be implemented at the close on 29 June.
The round-trip trade across both indices is estimated at just over US$2bn and there are 18 stocks that have over 1x ADV to trade from passives.
A number of the inclusions will have inflows from global and local passive trackers over the next few months.


NIFTY200 Momentum30 / Nifty100 LowVol30 Index Rebalance: Over US$2bn to Trade in June

Index Rebal/Special Situations, Quiddity Advisors

Janaghan Jeyakumar, CFA

Index Rebal/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>We continue to see one change for NIFTY 50 and five changes for NIFTY 100 during the September 2026 index rebal event.</li>
<li>The Vedanta demerger has caused a couple of changes in expectations for NIFTY 100.</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.
We continue to see one change for NIFTY 50 and five changes for NIFTY 100 during the September 2026 index rebal event.
The Vedanta demerger has caused a couple of changes in expectations for NIFTY 100.


Quiddity Leaderboard NIFTY Sep26: Changes to Expectations Caused by Vedanta Spin Offs

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

Equity Bottom-Up

<ul>
<li>FY26 net profit more than doubled to INR 1,233 Cr on revenue of INR 6,206 Cr (+45% YoY).</li>
<li>Order backlog hit a record INR 21,456 Cr, up 49% YoY, anchored by a landmark HVDC VSC win from Adani Energy Solutions.</li>
<li>India's Rs 9.15 lakh crore grid modernization plan through 2032 is structural, not cyclical. GE Vernova is one of only 2-3 credible end-to-end HVDC players globally available to India's grid.</li>
</ul>


FY26 net profit more than doubled to INR 1,233 Cr on revenue of INR 6,206 Cr (+45% YoY).
Order backlog hit a record INR 21,456 Cr, up 49% YoY, anchored by a landmark HVDC VSC win from Adani Energy Solutions.
India's Rs 9.15 lakh crore grid modernization plan through 2032 is structural, not cyclical. GE Vernova is one of only 2-3 credible end-to-end HVDC players globally available to India's grid.


GE Vernova T&D India:The Grid Supercycle Has a Listed Proxy with Data Center Export Opportunity

<ul>
<li>There could be 22 changes for the Nifty200 Momentum 30 Index that will be implemented at the close on 29 June.</li>
<li>If all changes are on expected lines, one-way turnover is estimated at 74.6% and that will result in a round-trip trade of INR 180bn (US$1.9bn).</li>
<li>There is a huge sector mismatch with Industrials and Utilities stocks expected to net gain 4 spots each while Financials are expected to lose 9 index spots.</li>
</ul>


There could be 22 changes for the Nifty200 Momentum 30 Index that will be implemented at the close on 29 June.
If all changes are on expected lines, one-way turnover is estimated at 74.6% and that will result in a round-trip trade of INR 180bn (US$1.9bn).
There is a huge sector mismatch with Industrials and Utilities stocks expected to net gain 4 spots each while Financials are expected to lose 9 index spots.


NIFTY200 Momentum30 Index Rebalance Preview: 75% One-Way Turnover & US$1.9bn Trade

<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 take a look at the names leading the race to become ADDs/DELs for these indices during the September 2026 index rebal event.</li>
<li>We see one change for NIFTY 50 and five changes for NIFTY 100.</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 take a look at the names leading the race to become ADDs/DELs for these indices during the September 2026 index rebal event.
We see one change for NIFTY 50 and five changes for NIFTY 100.


Quiddity Leaderboard NIFTY Sep26: Many Changes Likely; ~US$950mn Collective One-Way Flows

India

Hitachi Energy India specializes in advanced power systems and grid solutions, serving utility, industry, and infrastructure customers with products, projects, and services across the energy value chain. The company manufactures and supplies systems, equipment, devices, and accessories such as transformers, high-voltage products, and grid automation solutions, playing a significant role in integrating renewable energy into the national grid and modernizing power transmission. It is headquartered in Bengaluru, India, and was incorporated on February 19, 2019, carrying a legacy of operations in India since 1949 through its predecessor entities.

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)

NIFTY200 Momentum30 / Nifty100 LowVol30 Index Rebalance: Over US$2bn to Trade in June

The deletes have outperformed the adds by 4.7% since the announcement of the changes. The passives trade at the close today and those flows could...

Brian Freitas

Quiddity Leaderboard NIFTY Sep26: Changes to Expectations Caused by Vedanta Spin Offs

Vedanta Ltd (VEDL IN) completed its five-way split on 1st May 2026, with the four new entities listing on 15th June 2026. This event has caused...

Janaghan Jeyakumar, CFA

GE Vernova T&D India:The Grid Supercycle Has a Listed Proxy with Data Center Export Opportunity

FY26 net profit more than doubled to INR 1,233 Cr on revenue of INR 6,206 Cr, with record order backlog and India's grid modernization plan...

Sudarshan Bhandari

NIFTY200 Momentum30 Index Rebalance Preview: 75% One-Way Turnover & US$1.9bn Trade

We forecast 22 changes for the index in Dec. One-way turnover is estimated at 74.6% resulting in a round-trip trade of INR 180bn (US$1.9bn). The...

Brian Freitas

Quiddity Leaderboard NIFTY Sep26: Many Changes Likely; ~US$950mn Collective One-Way Flows

The NIFTY 50 expected ADD/DEL could trigger US$640mn in one-way flows. There could be more changes for NIFTY 100 which could collectively trigger...

Janaghan Jeyakumar, CFA

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

NIFTY200 Momentum30 / Nifty100 LowVol30 Index Rebalance: Over US$2bn to Trade in June

The deletes have outperformed the adds by 4.7% since the announcement of the changes. The passives trade at the close today and those flows could...

Brian Freitas

Quiddity Leaderboard NIFTY Sep26: Changes to Expectations Caused by Vedanta Spin Offs

Vedanta Ltd (VEDL IN) completed its five-way split on 1st May 2026, with the four new entities listing on 15th June 2026. This event has caused...

Janaghan Jeyakumar, CFA

GE Vernova T&D India:The Grid Supercycle Has a Listed Proxy with Data Center Export Opportunity

​FY26 net profit more than doubled to INR 1,233 Cr on revenue of INR 6,206 Cr, with record order backlog and India's grid modernization plan...

Sudarshan Bhandari

NIFTY200 Momentum30 Index Rebalance Preview: 75% One-Way Turnover & US$1.9bn Trade

We forecast 22 changes for the index in Dec. One-way turnover is estimated at 74.6% resulting in a round-trip trade of INR 180bn (US$1.9bn). The...

Brian Freitas

Quiddity Leaderboard NIFTY Sep26: Many Changes Likely; ~US$950mn Collective One-Way Flows

The NIFTY 50 expected ADD/DEL could trigger US$640mn in one-way flows. There could be more changes for NIFTY 100 which could collectively trigger...

Janaghan Jeyakumar, CFA

FY26 net profit more than doubled to INR 1,233 Cr on revenue of INR 6,206 Cr, with record order backlog and India's grid modernization plan...