Ex-Buyside Principal, now doing Independent Secondary Research on Indian Equities

Pawan Sachdeva

Thematic (Sector/Industry)

This work has been done to look at:<ol><li>How finances of state of Karnataka have moved over last decade ?</li><li>Detailed Break Up of Revenue, Expenditure, Capital Expenditure and subsidies  </li><li>Key Budget Comments on Drinking Water, Energy etc.</li></ol>Who will have have interest in reading this presentation<ul><li>Some one who follows Indian Economy</li><li>Some one looking at Karnataka State as “area of operation” in any field.</li></ul>

This work has been done to look at:How finances of state of Karnataka have moved over last decade ?Detailed Break Up of Revenue, Expenditure, Capital Expenditure and subsidies  Key Budget Comments on Drinking Water, Energy etc.Who will have have interest in reading this presentationSome one who follows Indian EconomySome one looking at Karnataka State as “area of operation” in any field.

A close look at the Financials and Budget of Karnataka State

Special Situations, Content Strategist, Smartkarma

Crispin Francis

Special Situations, Content Strategist

Smartkarma

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

Research Reinvented

Event-Driven

In addition to the recommendation to buy ING &nbsp;Vysya Bank Limited ("IVBL")This insights provides deeper analysis to the&nbsp;recommended&nbsp;hedges instead of shorting the&nbsp;Acquirer, Kotak Mahindra Bank ("KMB")&nbsp;<ul><li>We believe that there is much synergies to be enjoyed by shareholders of KMB after the merger with IVBL</li><li>We believe Kotak will outperform its peers as synergies from the deal are realized</li></ul>Hedging against the Indian Banking Sector will allow us to fully capture the rerate of Kotak with minimal sector risk Possible Candidates<ul><li>Central Bank of India ("CBOI") &nbsp;</li><ul><li>There is no single stock futures available for CBOI; cannot be shorted</li></ul><li>Federal Bank Ltd ("FB")&nbsp;</li></ul><blockquote>We feel that CBOI and FB are fully priced at the moment.&nbsp;We suggest that holders sell CBOI and buy IVBL or short FB&nbsp;to protect against downside risk in the Indian Financial Sector</blockquote>

In addition to the recommendation to buy ING &nbsp;Vysya Bank Limited ("IVBL")This insights provides deeper analysis to the&nbsp;recommended&nbsp;hedges instead of shorting the&nbsp;Acquirer, Kotak Mahindra Bank ("KMB")&nbsp;We believe that there is much synergies to be enjoyed by shareholders of KMB after the merger with IVBLWe believe Kotak will outperform its peers as synergies from the deal are realizedHedging against the Indian Banking Sector will allow us to fully capture the rerate of Kotak with minimal sector risk Possible CandidatesCentral Bank of India ("CBOI") &nbsp;There is no single stock futures available for CBOI; cannot be shortedFederal Bank Ltd ("FB")&nbsp;We feel that CBOI and FB are fully priced at the moment.&nbsp;We suggest that holders sell CBOI and buy IVBL or short FB&nbsp;to protect against downside risk in the Indian Financial Sector 

Kotak Mahindra + ING Vysya: How to capture the RERATE with minimal sector risk

India

ING Vysya Bank Limited operates as a bank.

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Ing Vysya Bank (VYSB IN)

A close look at the Financials and Budget of Karnataka State

This work has been done to look at: How finances of state of Karnataka have moved over last decade ? Detailed Break Up of Revenue, Expenditure,...

Pawan Sachdeva

Kotak Mahindra + ING Vysya: How to capture the RERATE with minimal sector risk

In addition to the recommendation to buy ING Vysya Bank Limited ("IVBL")This insights provides deeper analysis to the recommended hedges instead...

Crispin Francis

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)