Mid-Small Cap specialist | Equities | India, Nurture Capital Advisory

Nurture Capital Advisory

Mid-Small Cap specialist | Equities | India

Equity Bottom-Up

Indian Energy Exchange Ltd / Equity Bottom-Up

<ul>
<li>IEX is a play on digital infrastructure (hedge against inflation), electricity reforms, decarbonisation and energy transition</li>
<li>An opportunity that offers virtuous growth, minimalistic capital needs and presents a scalable business model (addressing INR 8trn electricity market)</li>
<li>India will see an average power consumption growth of 5% over the foreseeable period. Power Exchanges should outgrow this meaningfully</li>
</ul>


IEX is a play on digital infrastructure (hedge against inflation), electricity reforms, decarbonisation and energy transition
An opportunity that offers virtuous growth, minimalistic capital needs and presents a scalable business model (addressing INR 8trn electricity market)
India will see an average power consumption growth of 5% over the foreseeable period. Power Exchanges should outgrow this meaningfully


Indian Energy Exchange (IEX IN): Immense Value at Current Levels

Indian Accounting Research Analyst, Trudence Capital Advisors

Nitin Mangal

Indian Accounting Research Analyst

Trudence Capital Advisors

Trudence Capital Advisors Private Limited is a SEBI-registered Research Analyst, holding SEBI registration number INH000015747. Our firm is dedicated to providing independent and unbiased research on Indian mid to large-cap companies. Trudence Capital is known for its counter-consensus views, with a focus on forensic research and on-ground primary investigations. Our research approach is thorough, involving detailed analysis of accounting practices and governance, alongside extensive channel checks.

Independent & Unbiased Research

Forensic Accounting

Indian Energy Exchange Ltd / Forensic Accounting

<ul>
<li>
<a href="https://www.smartkarma.com/entities/indian-energy-exchange-ltd" target="_blank" data-smartkarma-citation="entities:25946:1" rel="noopener">Indian Energy Exchange Ltd (IEX IN)</a>  is a market leader among power exchanges. However, the company’s market share might be delicate, especially with the developments of market coupling.</li>
<li>The company might be a market leader, however there are some aspects accounting wise that are unique to IEX as compared to other exchanges like MCX and BSE.</li>
<li>This includes settlement guarantee fund, accounting of software license, etc.</li>
</ul>



Indian Energy Exchange Ltd (IEX IN)  is a market leader among power exchanges. However, the company’s market share might be delicate, especially with the developments of market coupling.
The company might be a market leader, however there are some aspects accounting wise that are unique to IEX as compared to other exchanges like MCX and BSE.
This includes settlement guarantee fund, accounting of software license, etc.


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

Event-Driven

<ul>
<li>Near the end of the review period, we see 7 stocks moving from MidCap to LargeCap, 6 from LargeCap to MidCap, 8 from SmallCap to MidCap and vice versa.</li>
<li>One spin-off should be added to the MidCap segment, while a bunch of recent listings will be added to the SmallCap segment.</li>
<li>Stock migrating upwards have outperformed stocks migrating downwards and we expect there could be some mean reversion from the middle of January.</li>
</ul>


Near the end of the review period, we see 7 stocks moving from MidCap to LargeCap, 6 from LargeCap to MidCap, 8 from SmallCap to MidCap and vice versa.
One spin-off should be added to the MidCap segment, while a bunch of recent listings will be added to the SmallCap segment.
Stock migrating upwards have outperformed stocks migrating downwards and we expect there could be some mean reversion from the middle of January.


AMFI Stock Reclassification Preview (Dec 2022): A Bunch of Migrations

Smartkarma Research Team, Smartkarma

Smartkarma Research

Smartkarma Research Team

Smartkarma

Smartkarma unites the fragmented investment industry, connecting institutional investors, independent research providers, and corporates within a single network.

Research Reinvented

<p>In the next webinar, we welcome Smartkarma Insight Provider <a href="https://www.smartkarma.com/profiles/gauri-anand" target="_blank" data-smartkarma-citation="accounts:39288" rel="noopener">Gauri Anand</a> , who will be sharing with us her Top indian Equity Picks and the investment philosophy behind each of her picks. Have any burning questions about companies like Indian Energy Exchange (IEX IN), VA Tech Wabag (VATW IN), or UPL Ltd (UPLL IN)? Get them answered in the live Q&amp;A that will conclude the session.</p>
<h3>The webinar will be hosted on Wednesday, 21 December 2022, 17:00 SGT/HKT.</h3>
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<h2><a href="https://share.hsforms.com/1H9pFZOB-RF2J00kbvMmxcw2c5gj?zoom_webinar_id=87055985031" target="_blank" rel="noopener">Register for the Webinar here</a></h2>
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<p>Gauri Anand is a mid-small cap specialist based in India. With a focus on equities, Gauri combs top down and bottom up approaches to identify themes and value stocks at its inflexion point. Sector agnostic with a value oriented - Inflexion approach, Gauri dives into bottom Up ideas with a biased towards Sustainability and ESG. </p>

In the next webinar, we welcome Smartkarma Insight Provider Gauri Anand , who will be sharing with us her Top indian Equity Picks and the investment philosophy behind each of her picks. Have any burning questions about companies like Indian Energy Exchange (IEX IN), VA Tech Wabag (VATW IN), or UPL Ltd (UPLL IN)? Get them answered in the live Q&amp;A that will conclude the session.
The webinar will be hosted on Wednesday, 21 December 2022, 17:00 SGT/HKT.








Register for the Webinar here








Gauri Anand is a mid-small cap specialist based in India. With a focus on equities, Gauri combs top down and bottom up approaches to identify themes and value stocks at its inflexion point. Sector agnostic with a value oriented - Inflexion approach, Gauri dives into bottom Up ideas with a biased towards Sustainability and ESG. 

Smartkarma Webinar | Top Indian Equity Picks

<ul>
<li>Q2FY23 Results weak on high base, H2FY23 to report single digit growth</li>
<li>FII selling, led to stock's underperformance in H1FY23, stock oversold</li>
<li>Weak base to support growth forward, low sentiment, steep selling, turning valuation attractive, besides long term opportunity is improving</li>
</ul>


Q2FY23 Results weak on high base, H2FY23 to report single digit growth
FII selling, led to stock's underperformance in H1FY23, stock oversold
Weak base to support growth forward, low sentiment, steep selling, turning valuation attractive, besides long term opportunity is improving


Indian Energy Exchange: Weak Base, Low Sentiment, Improving Valns

India

Indian Energy Exchange Limited operates a power trading platform for the physical delivery of electricity. The Company enables price discovery and risk management for participants of the electricity market. Indian Energy Exchange serves metal, food processing, textile, cement, ceramic, chemicals, automobiles, and information technology industries in India.

Indian Energy Exchange Ltd (IEX IN)

Indian Energy Exchange (IEX IN): Immense Value at Current Levels

IEX is a play on electricity reforms, enjoys a monopoly in exchange market, fundamentally strong business model with a long growth run-away

Nurture Capital Advisory

IEX Ltd- Facing the Tide

IEX faces a structural tide, as the developments of market coupling gain prominence. There are some aspects accounting wise that are unique to IEX...

Nitin Mangal

AMFI Stock Reclassification Preview (Dec 2022): A Bunch of Migrations

Near the end of the review period, we see 7 stocks moving from MidCap to LargeCap, 6 from LargeCap to MidCap, 8 from SmallCap to MidCap and vice...

Brian Freitas

Smartkarma Webinar | Top Indian Equity Picks

In this webinar, we have Smartkarma Insight Provider Gauri Anand, who will be sharing with us her Top indian Equity Picks and the investment...

Smartkarma Research

Indian Energy Exchange: Weak Base, Low Sentiment, Improving Valns

IEX - A digital play in energy transition and electricity reforms, suffering from high base, heavy fii selling, despite improving long term...

Nurture Capital Advisory