Global Commodities, Mint Finance

Srinidhi Raghavendra

Global Commodities

Deep Fundamental Analysis

Mint Finance

Mint Finance's investment research blends deep fundamental analysis with technical & quant insights. Investment strategies straddle across multiple asset classes with risk management embedded into every trade to deliver an outsized reward-to-risk ratio.

Mint Finance's research is centered around three key themes. First, energy transition and climate change. Second, artificial intelligence. Third, shifting world order with its impact across politics and monetary economics.

Cross Asset Strategy

<ul>
<li>SMRs enable decarbonization of electricity through low carbon heat and hydrogen production. Small Modular Reactors (SMRs) are advanced nuclear reactors.</li>
<li>SMRs are not new. They have been in design phase for long and not deployed at scale with cost being the primary hurdle.</li>
<li>By 2026 data centres are expected to hog &gt;1,000 TWh of electricity which is equivalent to the electricity consumption of Japan.</li>
</ul>


SMRs enable decarbonization of electricity through low carbon heat and hydrogen production. Small Modular Reactors (SMRs) are advanced nuclear reactors.
SMRs are not new. They have been in design phase for long and not deployed at scale with cost being the primary hurdle.
By 2026 data centres are expected to hog &gt;1,000 TWh of electricity which is equivalent to the electricity consumption of Japan.


Energy Transition Requires Betting Big on Nuclear Starting Small with SMRs

Independent research on the U.S. markets, Baptista Research

Baptista Research

Independent research on the U.S. markets

Baptista Research is an independent financial research house focused on the U.S. markets. We provide equity research as well as credit research reports on the top-listed U.S. companies with most of our focus on technology, consumer goods and services, automobiles, industrials, oil and gas, pharma, and healthcare. Our research has served more than 3000 institutional investors including mutual funds, hedge funds, banks, family offices, and various buy-side firms. We operate a research subscription service where institutions, as well as retail investors, can have priority access to all our research. We also have a wide distribution of our research reports across some of the top global financial platforms. Apart from equity research and credit research, we also provide advisory services with respect to mergers & acquisitions (M&A), private equity/ venture capital fundraising, valuation reports, and investment management services for corporates.
Baptista Research is owned and managed by Ishan Majumdar, an ex-Venture Capitalist/ Investment Banker, a Chartered Accountant, and a Masters’ degree holder in Management from HEC Paris. Ishan has nearly a decade of experience in Mergers and Acquisitions, Leveraged Buyouts (LBOs), Venture Capital Investing, Corporate Strategy, and Valuation in front-office roles at the likes of BNP Paribas CIB, Credit Agricole CIB, Groupe Danone, and TIW Private Equity. He has worked on and closed multiple acquisition deals, leveraged buyouts, and start-up investment transactions.

Equity Bottom-Up

<ul><li>Microsoft Corporation recently reported strong first-quarter results for Fiscal Year 2025, showcasing notable growth driven by its cloud and AI initiatives.</li><li>The company’s cloud revenue reached $38.9 billion, marking a 22% year-over-year increase, while its AI business is projected to surpass a $10 billion annual revenue run rate next quarter.</li><li>Despite these positive figures, Microsoft’s stock dropped 4% in after-hours trading due to guidance suggesting slower-than-expected growth.</li></ul>

Microsoft Corporation recently reported strong first-quarter results for Fiscal Year 2025, showcasing notable growth driven by its cloud and AI initiatives.The company’s cloud revenue reached $38.9 billion, marking a 22% year-over-year increase, while its AI business is projected to surpass a $10 billion annual revenue run rate next quarter.Despite these positive figures, Microsoft’s stock dropped 4% in after-hours trading due to guidance suggesting slower-than-expected growth.

Microsoft’s Game-Changing Moves: 6 Powerful Forces Set to Drive Its Stock Higher!

Blue Lotus Non US Internet research, Blue Lotus Research Institute

Ying Pan

Blue Lotus Non US Internet research

China growth and global non-US Internet equities

Blue Lotus Research Institute

Blue Lotus Research is a Hong Kong Type 4 Licensed investment advisory firm focusing on Chinese growth equities and global non-US Internet equities

Thematic (Sector/Industry)

<ul>
<li>JD US/3690 HK/BABA US:JD.com’s 7FRESH Supermarket lowers prices to gain traffic, challenging Meituan and Freshippo (+/+/+)</li>
<li>1024 HK:Kuaishou's Overseas Short-video Platform Kwai Officially Launches E-commerce in Brazil (+)</li>
<li>1024 HK:Kuaishou Game &lt;Endless Dream&gt; Surpasses 10 Million Pre-Registered Players, Announces Collaboration with &lt;Soul Knight&gt; (+)</li>
</ul>


JD US/3690 HK/BABA US:JD.com’s 7FRESH Supermarket lowers prices to gain traffic, challenging Meituan and Freshippo (+/+/+)
1024 HK:Kuaishou's Overseas Short-video Platform Kwai Officially Launches E-commerce in Brazil (+)
1024 HK:Kuaishou Game &lt;Endless Dream&gt; Surpasses 10 Million Pre-Registered Players, Announces Collaboration with &lt;Soul Knight&gt; (+)


[Blue Lotus Daily-TMT Update]:JD/3690HK/BABA/1024HK/700HK/BIDU/3092JP/4385JP/PDD/1810HK/NTES /MSFT

Oil and Gas, Mint Finance

Suhas Reddy

Oil and Gas

<ul>
<li>Occidental's revenue is projected to grow 4.8% QoQ but dip 0.1% YoY, while EPS may drop 27.2% QoQ and 36.4% YoY due to lower realised prices.</li>
<li>Occidental's average realised worldwide oil price is expected at USD 75.3/b, down 6.7% YoY and 5.7% QoQ, largely due to an 8.1% YoY and 6.2% QoQ decline in US prices.</li>
<li>Occidental has committed to reducing at least USD 4.5 billion in debt within 12 months of acquiring CrownRock, having already cut nearly USD 3.8 billion, nearing 85% of its target.</li>
</ul>


Occidental's revenue is projected to grow 4.8% QoQ but dip 0.1% YoY, while EPS may drop 27.2% QoQ and 36.4% YoY due to lower realised prices.
Occidental's average realised worldwide oil price is expected at USD 75.3/b, down 6.7% YoY and 5.7% QoQ, largely due to an 8.1% YoY and 6.2% QoQ decline in US prices.
Occidental has committed to reducing at least USD 4.5 billion in debt within 12 months of acquiring CrownRock, having already cut nearly USD 3.8 billion, nearing 85% of its target.


[Earnings Preview] Occidental's Q3 Profitability Expected to Contract Due to Declining Oil Prices

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>Aequitas Research's weekly update on the IPOs, placements, lockup expiry and other ECM linked events that were covered by the team over the past week.</li>
<li>On the IPOs front, Indian deals continue to flow in, even as other markets have taken a breather ahead of US elections this week.</li>
<li>On the placements front, there weren't many large deals but we did look at a number of upcoming lockup expiries.</li>
</ul>


Aequitas Research's weekly update on the IPOs, placements, lockup expiry and other ECM linked events that were covered by the team over the past week.
On the IPOs front, Indian deals continue to flow in, even as other markets have taken a breather ahead of US elections this week.
On the placements front, there weren't many large deals but we did look at a number of upcoming lockup expiries.


ECM Weekly (4th Nov 2024) - Swiggy, Waaree, Afcons, TS Lines, Zeekr, Hyundai Marine, Indegene, TBO

United States

Microsoft Corporation operates as a software company. The Company offers applications, extra cloud storage, and advanced security solutions. Microsoft serves customers worldwide.

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Microsoft Corp (MSFT US)

Energy Transition Requires Betting Big on Nuclear Starting Small with SMRs

SMRs are critical to energy transition. Not new. Just not deployed at scale yet. Keen to secure exposure to nuclear power industry. Tread...

Mint Finance

Microsoft’s Game-Changing Moves: 6 Powerful Forces Set to Drive Its Stock Higher!

Microsoft Corporation recently reported strong first-quarter results for Fiscal Year 2025, showcasing notable growth driven by its cloud and AI...

Baptista Research

[Blue Lotus Daily-TMT Update]:JD/3690HK/BABA/1024HK/700HK/BIDU/3092JP/4385JP/PDD/1810HK/NTES /MSFT

JD.com's 7FRESH Supermarket lowers prices to compete with Meituan and Freshippo, Kuaishou launches e-commerce in Brazil and announces...

Blue Lotus Research Institute

[Earnings Preview] Occidental's Q3 Profitability Expected to Contract Due to Declining Oil Prices

Occidental's Q3 EPS is expected to decline due to a sharp drop in US average realized oil and natural gas prices. The firm’s high debt levels...

Mint Finance

ECM Weekly (4th Nov 2024) - Swiggy, Waaree, Afcons, TS Lines, Zeekr, Hyundai Marine, Indegene, TBO

Aequitas Research's weekly update on the IPOs, placements, lockup expiry and other ECM linked events that were covered by the team over the past week.

Sumeet Singh

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52-week Range

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Energy Transition Requires Betting Big on Nuclear Starting Small with SMRs

SMRs are critical to energy transition. Not new. Just not deployed at scale yet. Keen to secure exposure to nuclear power industry. Tread...

Mint Finance

Microsoft’s Game-Changing Moves: 6 Powerful Forces Set to Drive Its Stock Higher!

Microsoft Corporation recently reported strong first-quarter results for Fiscal Year 2025, showcasing notable growth driven by its cloud and AI...

Baptista Research

[Blue Lotus Daily-TMT Update]:JD/3690HK/BABA/1024HK/700HK/BIDU/3092JP/4385JP/PDD/1810HK/NTES /MSFT

​JD.com's 7FRESH Supermarket lowers prices to compete with Meituan and Freshippo, Kuaishou launches e-commerce in Brazil and announces...

Blue Lotus Research Institute

[Earnings Preview] Occidental's Q3 Profitability Expected to Contract Due to Declining Oil Prices

Occidental's Q3 EPS is expected to decline due to a sharp drop in US average realized oil and natural gas prices. The firm’s high debt levels...

Mint Finance

ECM Weekly (4th Nov 2024) - Swiggy, Waaree, Afcons, TS Lines, Zeekr, Hyundai Marine, Indegene, TBO

Aequitas Research's weekly update on the IPOs, placements, lockup expiry and other ECM linked events that were covered by the team over the past week.

Sumeet Singh

JD.com's 7FRESH Supermarket lowers prices to compete with Meituan and Freshippo, Kuaishou launches e-commerce in Brazil and announces...