External broker reports(aggregated public sources), Axis Direct

Axis Direct

External broker reports(aggregated public sources)

Axis Direct is the flagship brand under Axis Securities Limited, a subsidiary of Axis Bank 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.

Equity Bottom-Up

<ul><li>Juniper reported a 27.3% YoY growth, with ARR increasing to Rs 9,879 (+3.8% YoY) and occupancy reaching 71% during the quarter.</li><li>However, due to certain key rooms being out of service, the like-to-like occupancy rate was 77%.</li><li>The upper upscale and upper segment reported RevPAR growth rates of 3% and 10% and 6% YoY, respectively. </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.

Juniper reported a 27.3% YoY growth, with ARR increasing to Rs 9,879 (+3.8% YoY) and occupancy reaching 71% during the quarter.However, due to certain key rooms being out of service, the like-to-like occupancy rate was 77%.The upper upscale and upper segment reported RevPAR growth rates of 3% and 10% and 6% YoY, respectively. 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.

Juniper Hotel Ltd - Riding the Upcycle; Maintain Buy

<ul><li>Value-unlocking Initiatives: Juniper Hotel Ltd. recently announced a strategic acquisition of a five-star hotel near Bangalore Airport from M/s. Twenty Fourteen Hotels India Private Limited, as per its August 30, 2024 press release.</li><li>The property, formerly branded by Marriott, offers 220 keys on a 6.5-acre site.</li><li>The transaction, estimated to range between Rs 250-300 Cr, will be financed through a combination of debt and internal accruals. </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.

Value-unlocking Initiatives: Juniper Hotel Ltd. recently announced a strategic acquisition of a five-star hotel near Bangalore Airport from M/s. Twenty Fourteen Hotels India Private Limited, as per its August 30, 2024 press release.The property, formerly branded by Marriott, offers 220 keys on a 6.5-acre site.The transaction, estimated to range between Rs 250-300 Cr, will be financed through a combination of debt and internal accruals. 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.

Juniper Hotels Ltd - Expansion of Portfolio Through Brownfield Acquisitions

Head of Research, IPOs & Placements, Aequitas Research

Sumeet Singh

Head of Research, IPOs & Placements

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.

Equity Capital Markets

<ul>
<li>
<a href="https://www.smartkarma.com/entities/juniper-hotels" target="_blank" data-smartkarma-citation="entities:40186:1" rel="noopener">Juniper Hotels</a> is looking to raise up to US$217m in its upcoming India IPO.</li>
<li>Juniper Hotels is the largest owner by no. of keys of Hyatt affiliated hotels in India as of 2Q23 (30th Jun 23), according to Horwath.</li>
<li>We have looked at the company’s past performance in our previous note. In this note, we provide our thoughts on valuations.</li>
</ul>



Juniper Hotels is looking to raise up to US$217m in its upcoming India IPO.
Juniper Hotels is the largest owner by no. of keys of Hyatt affiliated hotels in India as of 2Q23 (30th Jun 23), according to Horwath.
We have looked at the company’s past performance in our previous note. In this note, we provide our thoughts on valuations.


Juniper Hotels IPO - Looks Somewhat Fairly Valued

Thematic (Sector/Industry)

<ul><li>The total hospitality industry in India currently comprises 212,000 rooms, translating to an industry size of ~Rs 82,000 Cr.</li><li>The industry is projected to experience a CAGR of 10.5% over the next three financial years.</li><li>This growth is expected to generate an annual incremental demand of Rs 8,200 Cr.</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.

The total hospitality industry in India currently comprises 212,000 rooms, translating to an industry size of ~Rs 82,000 Cr.The industry is projected to experience a CAGR of 10.5% over the next three financial years.This growth is expected to generate an annual incremental demand of Rs 8,200 Cr.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.

Hotel Sector - Structural Tailwinds Intact; Up-Cycle Expected to Continue

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

Housing and Urban Development Corporation Limited / Event-Driven

Housing and Urban Development Corporation Limited

<ul>
<li>We see 7 stocks moving from MidCap to LargeCap and vice versa, 17 stocks from SmallCap to MidCap, 19 stocks from MidCap to SmallCap and 2 new additions to MidCap.</li>
<li>The expected migrations from SmallCap to MidCap have outperformed the other potential migrations with all stocks moving higher over the last six months.</li>
<li>Momentum on the upward migrations could sustain as active managers reposition their portfolios. Some stocks will have passive flows over the next few months.</li>
</ul>


We see 7 stocks moving from MidCap to LargeCap and vice versa, 17 stocks from SmallCap to MidCap, 19 stocks from MidCap to SmallCap and 2 new additions to MidCap.
The expected migrations from SmallCap to MidCap have outperformed the other potential migrations with all stocks moving higher over the last six months.
Momentum on the upward migrations could sustain as active managers reposition their portfolios. Some stocks will have passive flows over the next few months.


AMFI Stock Reclassification Preview (June 2024): Potential Changes as Momentum Recovers

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Juniper Hotels (6593708Z IN)

Juniper Hotel Ltd - Riding the Upcycle; Maintain Buy

Juniper reported a 27.3% YoY growth, with ARR increasing to Rs 9,879 (+3.8% YoY) and occupancy reaching 71% during the quarter.

Axis Direct

Juniper Hotels Ltd - Expansion of Portfolio Through Brownfield Acquisitions

Juniper Hotel Ltd. recently announced a strategic acquisition of a five-star hotel near Bangalore Airport from M/s. Twenty Fourteen Hotels India...

Axis Direct

Juniper Hotels IPO - Looks Somewhat Fairly Valued

Juniper Hotels is looking to raise up to US$217m in its upcoming India IPO. We have looked at the past performance earlier. In this note, we talk...

Sumeet Singh

Hotel Sector - Structural Tailwinds Intact; Up-Cycle Expected to Continue

Given the limited supply of luxury rooms in the market, this growth cycle has the potential to extend further, ensuring robust demand and expansion...

Axis Direct

AMFI Stock Reclassification Preview (June 2024): Potential Changes as Momentum Recovers

We see 7 stocks moving from MidCap to LargeCap and vice versa, 17 stocks from SmallCap to MidCap, 19 stocks from MidCap to SmallCap and 2 new adds...

Brian Freitas

Price Gauge

52-week Range

Market Cap (USDm)

P/E

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