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>As things stand, <a href="https://www.smartkarma.com/entities/trent-ltd" target="_blank" data-smartkarma-citation="entities:8410:1" rel="noopener">Trent Ltd (TRENT IN)</a> could replace <a href="https://www.smartkarma.com/entities/bajaj-finserv-ltd" target="_blank" data-smartkarma-citation="entities:5669:1" rel="noopener">Bajaj Finserv (BJFIN IN)</a> in the <a href="https://www.smartkarma.com/entities/s-p-bse-sensex-index" target="_blank" data-smartkarma-citation="entities:31494:1" rel="noopener">S&amp;P BSE SENSEX Index (SENSEX INDEX)</a> at the close on 20 December.</li>
<li>Addition to the F&amp;O list could see <a href="https://www.smartkarma.com/entities/zomato-ltd" target="_blank" data-smartkarma-citation="entities:28820:1" rel="noopener">Zomato (ZOMATO IN)</a> added to the index instead. That could then result in two changes to the <a href="https://www.smartkarma.com/entities/s-p-bse-sensex-index" target="_blank" data-smartkarma-citation="entities:31494:1" rel="noopener">S&amp;P BSE SENSEX Index</a> in December.</li>
<li>
<a href="https://www.smartkarma.com/entities/trent-ltd" target="_blank" data-smartkarma-citation="entities:8410:1" rel="noopener">Trent Ltd (TRENT IN)</a> is also an inclusion to the <a href="https://www.smartkarma.com/entities/nifty-index" target="_blank" data-smartkarma-citation="entities:23617:1" rel="noopener">NIFTY Index (NIFTY INDEX)</a> later this month and the pool of shares available for active investors is getting smaller.</li>
</ul>


As things stand, Trent Ltd (TRENT IN) could replace Bajaj Finserv (BJFIN IN) in the S&amp;P BSE SENSEX Index (SENSEX INDEX) at the close on 20 December.
Addition to the F&amp;O list could see Zomato (ZOMATO IN) added to the index instead. That could then result in two changes to the S&amp;P BSE SENSEX Index in December.

Trent Ltd (TRENT IN) is also an inclusion to the NIFTY Index (NIFTY INDEX) later this month and the pool of shares available for active investors is getting smaller.


SENSEX Index Rebalance Preview: Trent Could Replace Bajaj Finserv; BUT F&O Adds Could Change That

Market & Forensics Analyst, Beat the Street

Nimish Maheshwari

Market & Forensics Analyst

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

Thematic (Sector/Industry)

<ul>
<li>Supreme Court ruled that States can levy cesses on mining activities, distinguishing it from Union's authority over royalty.</li>
<li>Retrospective tax collection from 2005 could impose 1.5-2 lakh crore on the mining sector, heavily impacting co. like <a href="https://www.smartkarma.com/entities/tata-steel-ltd" target="_blank" data-smartkarma-citation="entities:20934:1" rel="noopener">Tata Steel Ltd (TATA IN)</a> and <a href="https://www.smartkarma.com/entities/coal-india-ltd" target="_blank" data-smartkarma-citation="entities:9117:1" rel="noopener">Coal India Ltd (COAL IN)</a>.</li>
<li>The ruling may exacerbate financial pressures on the mining industry, especially in high-tax states like Odisha and Jharkhand.</li>
</ul>


Supreme Court ruled that States can levy cesses on mining activities, distinguishing it from Union's authority over royalty.
Retrospective tax collection from 2005 could impose 1.5-2 lakh crore on the mining sector, heavily impacting co. like Tata Steel Ltd (TATA IN) and Coal India Ltd (COAL IN).
The ruling may exacerbate financial pressures on the mining industry, especially in high-tax states like Odisha and Jharkhand.


60-Year Mining Tax Battle: Supreme Court’s Final Word

India Equity Analyst - Fundamental & Thematic, Beat the Street

Sudarshan Bhandari

India Equity Analyst - Fundamental & Thematic

<ul>
<li>ONGC, Oil India to Price New Gas at 20% Premium over the APM price.</li>
<li>JSW Steel buys a 66.67% stake in M Res NSW for $120 million.</li>
<li>Adani Green Energy aims for a 30% CAGR in renewable capacity.</li>
</ul>


ONGC, Oil India to Price New Gas at 20% Premium over the APM price.
JSW Steel buys a 66.67% stake in M Res NSW for $120 million.
Adani Green Energy aims for a 30% CAGR in renewable capacity.


# 45 India Insight: ONGC, Oil India Price Premium, JSW Steel Acquisition, Adani Green RE Target

Senior Credit Analyst, Lucror Analytics

Leonard Law, CFA

Senior Credit Analyst

High Yield Experts

Lucror Analytics

Lucror Analytics is a leading credit and ESG research specialist and a provider of technology solutions for differentiated fixed income strategies. Our roots are in bottom-up fundamental credit analysis with a specialization in high yield corporate credits from Europe, Asia and Latin America. We are one of few research specialists integrating ESG considerations with fundamental credit research through a dedicated ESG platform. Our ESG assessment covers five key criteria: Disclosure, E,S, & G Pillars, Controversies, ESG Impact on Credit and ESG Momentum.

Recognizing the importance and value-add of Factor Investing in fixed income, Lucror developed the Smart Quant Navigator (SQN), an intuitive platform that helps clients devise and implement factor-based strategies ranging from pure quant to active fundamental, with integrated ESG.

Our company has been at the forefront of developments in the fixed income markets, identifying opportunities and consistently delivering new products and value-adding solutions to clients. Lucror has close relationships with the largest and most reputable asset managers, family offices, hedge funds, investment and wealth managers globally.

Credit

<p>Lucror Analytics Morning Views comprise our fundamental credit analysis, opinions and trade recommendations on high yield issuers in the region, based on key company-specific developments in the past 24 hours. Our Morning Views include a section with a brief market commentary, key market indicators and a macroeconomic and corporate event calendar.</p><ul><li><a href='#lucror-entity-227'>Guangzhou R&F Properties</a></li><li><a href='#lucror-entity-18561'>JSW Steel Ltd</a></li><li><a href='#lucror-entity-18097'>Yuexiu Property </a></li></ul>

Lucror Analytics Morning Views comprise our fundamental credit analysis, opinions and trade recommendations on high yield issuers in the region, based on key company-specific developments in the past 24 hours. Our Morning Views include a section with a brief market commentary, key market indicators and a macroeconomic and corporate event calendar.Guangzhou R&F PropertiesJSW Steel LtdYuexiu Property 

Morning Views Asia: Guangzhou R&F Properties, JSW Steel Ltd, Yuexiu Property  

<p>Lucror Analytics Morning Views comprise our fundamental credit analysis, opinions and trade recommendations on high yield issuers in the region, based on key company-specific developments in the past 24 hours. Our Morning Views include a section with a brief market commentary, key market indicators and a macroeconomic and corporate event calendar.</p><ul><li><a href='#lucror-entity-18561'>JSW Steel Ltd</a></li><li><a href='#lucror-entity-18262'>Vista Land & Lifescapes</a></li></ul>

Lucror Analytics Morning Views comprise our fundamental credit analysis, opinions and trade recommendations on high yield issuers in the region, based on key company-specific developments in the past 24 hours. Our Morning Views include a section with a brief market commentary, key market indicators and a macroeconomic and corporate event calendar.JSW Steel LtdVista Land & Lifescapes

Morning Views Asia: JSW Steel Ltd, Vista Land & Lifescapes

India

JSW Steel Limited is an integrated steel producer with manufacturing facilities in Karnataka, Tamil Nadu and the western state of Maharashtra. The Company produces products including hot rolled coils, cold rolled coils, wire rods, galvanized coils and sheets.

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JSW Steel Ltd (JSTL IN)

SENSEX Index Rebalance Preview: Trent Could Replace Bajaj Finserv; BUT F&O Adds Could Change That

Trent could replace Bajaj Finserv in the Sensex in December. Inclusion in the F&O list could see Zomato added instead; Trent could also be added....

Brian Freitas

60-Year Mining Tax Battle: Supreme Court’s Final Word

Supreme Court ruling allows States to levy cess on mining, potentially imposing hefty retrospective taxes on sector, impacting companies like Tata...

Nimish Maheshwari

# 45 India Insight: ONGC, Oil India Price Premium, JSW Steel Acquisition, Adani Green RE Target

ONGC and Oil India set new gas prices at 20% premium, JSW Steel acquires majority stake in M Res NSW for $120 million, Adani Green Energy targets...

Sudarshan Bhandari

Morning Views Asia: Guangzhou R&F Properties, JSW Steel Ltd, Yuexiu Property

Lucror Analytics Morning Views comprise our fundamental credit analysis, opinions and trade recommendations on high yield issuers in the region,...

Lucror Analytics

Morning Views Asia: JSW Steel Ltd, Vista Land & Lifescapes

Lucror Analytics Morning Views comprise our fundamental credit analysis, opinions and trade recommendations on high yield issuers in the region,...

Lucror Analytics

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

SENSEX Index Rebalance Preview: Trent Could Replace Bajaj Finserv; BUT F&O Adds Could Change That

Trent could replace Bajaj Finserv in the Sensex in December. Inclusion in the F&O list could see Zomato added instead; Trent could also be added....

Brian Freitas

60-Year Mining Tax Battle: Supreme Court’s Final Word

​Supreme Court ruling allows States to levy cess on mining, potentially imposing hefty retrospective taxes on sector, impacting companies like Tata...

Nimish Maheshwari

# 45 India Insight: ONGC, Oil India Price Premium, JSW Steel Acquisition, Adani Green RE Target

​ONGC and Oil India set new gas prices at 20% premium, JSW Steel acquires majority stake in M Res NSW for $120 million, Adani Green Energy targets...

Sudarshan Bhandari

Morning Views Asia: Guangzhou R&F Properties, JSW Steel Ltd, Yuexiu Property

Lucror Analytics Morning Views comprise our fundamental credit analysis, opinions and trade recommendations on high yield issuers in the region,...

Lucror Analytics

Morning Views Asia: JSW Steel Ltd, Vista Land & Lifescapes

Lucror Analytics Morning Views comprise our fundamental credit analysis, opinions and trade recommendations on high yield issuers in the region,...

Lucror Analytics

Supreme Court ruling allows States to levy cess on mining, potentially imposing hefty retrospective taxes on sector, impacting companies like Tata...

ONGC and Oil India set new gas prices at 20% premium, JSW Steel acquires majority stake in M Res NSW for $120 million, Adani Green Energy targets...