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

Mazagon Dock Shipbuilders  / Index Rebalance

<ul>
<li>There are 20 changes a side for the Nifty200 Momentum30 Index that will be implemented at the close on 27 June. We had correctly forecast 39 of the 40 changes.</li>
<li>Estimated one-way turnover is 68.4% resulting in a round-trip trade of INR 160bn (US$1.9bn). There are 22 stocks with over 1x ADV to trade.</li>
<li>The Financials sector has 9 net inclusions to the index while the Information Technology and Consumer Discretionary sectors have 2 net deletions each.</li>
</ul>


There are 20 changes a side for the Nifty200 Momentum30 Index that will be implemented at the close on 27 June. We had correctly forecast 39 of the 40 changes.
Estimated one-way turnover is 68.4% resulting in a round-trip trade of INR 160bn (US$1.9bn). There are 22 stocks with over 1x ADV to trade.
The Financials sector has 9 net inclusions to the index while the Information Technology and Consumer Discretionary sectors have 2 net deletions each.


NIFTY200 Momentum30 Index Rebalance: HUGE Turnover and Trade as Financials Shine

<ul>
<li>There could be 20 changes for the Nifty200 Momentum 30 Index that will be implemented at the close on 27 June.</li>
<li>If all changes are on expected lines, one-way turnover is estimated at 68.7% and that will result in a round-trip trade of INR 159bn (US$1.87bn).</li>
<li>Financials are expected to gain 9 index spots and Materials are expected to gain 3 spots. Consumer Discretionary could lose 5 spots and Information Technology could lose 4 spots.</li>
</ul>


There could be 20 changes for the Nifty200 Momentum 30 Index that will be implemented at the close on 27 June.
If all changes are on expected lines, one-way turnover is estimated at 68.7% and that will result in a round-trip trade of INR 159bn (US$1.87bn).
Financials are expected to gain 9 index spots and Materials are expected to gain 3 spots. Consumer Discretionary could lose 5 spots and Information Technology could lose 4 spots.


NIFTY200 Momentum30 Index Rebalance Preview: 69% One-Way Turnover & US$1.9bn Trade

Equity Analyst - Fundamental & Thematic, Sree Capital

Sreemant Dudhoria

Equity Analyst - Fundamental & Thematic

Fundamental Research on Listed Indian Companies

Sree Capital

Sree Capital is a platform to share fundamental research on listed Indian companies. We do this research for our own investment

Equity Bottom-Up

<ul>
<li>May is a result season, and hence, very few companies that are out of their silent period are eligible to permit insider trading activity</li>
<li>Sectors with notable activity include real estate, financials, media and renewable energy.</li>
<li>Most of these stocks are close to same price levels where the insider purchases happened.</li>
</ul>


May is a result season, and hence, very few companies that are out of their silent period are eligible to permit insider trading activity
Sectors with notable activity include real estate, financials, media and renewable energy.
Most of these stocks are close to same price levels where the insider purchases happened.


Prices Drop, Eyes Pop: Insider Buying Update – May 2025 (Market Cap > USD 1 Billion)

APAC IPOs & Placements, Aequitas Research

Akshat Shah

APAC 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

Belrise Industries / Equity Capital Markets

<ul>
<li>
<a href="https://www.smartkarma.com/entities/belrise-industries" target="_blank" data-smartkarma-citation="entities:44122:1" rel="noopener">Belrise Industries (9156339Z IN)</a> is looking to raise about US$255m in its upcoming India IPO.</li>
<li>Belrise Industries is an automotive component manufacturing company based in India offering a diverse range of safety critical systems and other engineering solutions for two-wheelers, three-wheelers, four-wheelers, commercial and agri-vehicles.</li>
<li>In this note, we talk about the company’s historical performance.</li>
</ul>



Belrise Industries (9156339Z IN) is looking to raise about US$255m in its upcoming India IPO.
Belrise Industries is an automotive component manufacturing company based in India offering a diverse range of safety critical systems and other engineering solutions for two-wheelers, three-wheelers, four-wheelers, commercial and agri-vehicles.
In this note, we talk about the company’s historical performance.


Belrise Industries Pre-IPO - Expansion Plans and Related Party Risks

Index Rebal/Special Situations, Quiddity Advisors

Janaghan Jeyakumar, CFA

Index Rebal/Special Situations

Quiddity Advisors

Pan-Asia Catalysts/Events

<ul>
<li>In this insight, we take a look at the Potential ADDs/DELs for the BSE SENSEX, 100, 200, and 500 Indices in the June 2023 Rebalance.</li>
<li>There are only few more days left in the reference period used for the constituent selection process for the June 2023 Rebalance.</li>
<li>Currently, I see 6 ADDs/DELs for the BSE 100 index and 4 ADDs/DELs for the BSE 200 index.</li>
</ul>


In this insight, we take a look at the Potential ADDs/DELs for the BSE SENSEX, 100, 200, and 500 Indices in the June 2023 Rebalance.
There are only few more days left in the reference period used for the constituent selection process for the June 2023 Rebalance.
Currently, I see 6 ADDs/DELs for the BSE 100 index and 4 ADDs/DELs for the BSE 200 index.


Quiddity Leaderboard for BSE/​​SENSEX Jun 23: Six BSE 100 Changes and Four BSE 200 Changes

India

Max Financial Services Limited operates as a life insurance company. The Company, through its subsidiaries, provides life insurance and health insurance products, as well as healthcare services. Max Financial Services serves insurance and health industry worldwide.

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Max India Ltd (MAXF IN)

NIFTY200 Momentum30 Index Rebalance: HUGE Turnover and Trade as Financials Shine

The Nifty200 Momentum30 Index rebalances at the close tomorrow. Since announcement, the adds have outperformed the deletes (but only marginally)....

Brian Freitas

NIFTY200 Momentum30 Index Rebalance Preview: 69% One-Way Turnover & US$1.9bn Trade

We forecast 20 changes for the index in June. One-way turnover is estimated at 68.7% resulting in a round-trip trade of INR 159bn (US$1.87bn). The...

Brian Freitas

Prices Drop, Eyes Pop: Insider Buying Update – May 2025 (Market Cap > USD 1 Billion)

May is a busy result season for companies, limiting insider trading opportunities, with notable activity in real estate, financials, media, and...

Sreemant Dudhoria

Quiddity Leaderboard for BSE/SENSEX Jun 23: Six BSE 100 Changes and Four BSE 200 Changes

BSE 100 and BSE 200 ADDs have historically outperformed the SENSEX index on average from the end of the reference period to the announcement of...

Janaghan Jeyakumar, CFA

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52-week Range

Market Cap (USDm)

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NIFTY200 Momentum30 Index Rebalance: HUGE Turnover and Trade as Financials Shine

The Nifty200 Momentum30 Index rebalances at the close tomorrow. Since announcement, the adds have outperformed the deletes (but only marginally)....

Brian Freitas

NIFTY200 Momentum30 Index Rebalance Preview: 69% One-Way Turnover & US$1.9bn Trade

We forecast 20 changes for the index in June. One-way turnover is estimated at 68.7% resulting in a round-trip trade of INR 159bn (US$1.87bn). The...

Brian Freitas

Prices Drop, Eyes Pop: Insider Buying Update – May 2025 (Market Cap > USD 1 Billion)

​May is a busy result season for companies, limiting insider trading opportunities, with notable activity in real estate, financials, media, and...

Sreemant Dudhoria

Belrise Industries Pre-IPO - Expansion Plans and Related Party Risks

Belrise Industries Limited is looking to raise about US$255m in its upcoming India IPO. In this note, we talk about the company’s historical...

Akshat Shah

Quiddity Leaderboard for BSE/​​SENSEX Jun 23: Six BSE 100 Changes and Four BSE 200 Changes

BSE 100 and BSE 200 ADDs have historically outperformed the SENSEX index on average from the end of the reference period to the announcement of...

Janaghan Jeyakumar, CFA

May is a busy result season for companies, limiting insider trading opportunities, with notable activity in real estate, financials, media, and...

Quiddity Leaderboard for BSE/SENSEX Jun 23: Six BSE 100 Changes and Four BSE 200 Changes