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.

Thematic (Sector/Industry)

<ul><li>Axis Top Picks basket outperformed the benchmark by a significant margin with its impressive return of 9.7% in FY23 as against the 0.6% decline posted by NIFTY 50 over the same period.</li><li>The basket, however, reported a flattish return (-0.3%) in a highly volatile Mar’23 which witnessed a rather mixed performance across sectoral, market cap, and style indices, indicating an underlying change in the market positioning.</li><li>Nonetheless, the basket has delivered an astounding return of 149% since its inception (May'20) which stands significantly higher than the 87% returns delivered by NIFTY 50 over the same period.</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.

Axis Top Picks basket outperformed the benchmark by a significant margin with its impressive return of 9.7% in FY23 as against the 0.6% decline posted by NIFTY 50 over the same period.The basket, however, reported a flattish return (-0.3%) in a highly volatile Mar’23 which witnessed a rather mixed performance across sectoral, market cap, and style indices, indicating an underlying change in the market positioning.Nonetheless, the basket has delivered an astounding return of 149% since its inception (May'20) which stands significantly higher than the 87% returns delivered by NIFTY 50 over the same period.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.

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>On 17 February, NSE Indices announced the results of the March index review for the <a href="https://www.smartkarma.com/entities/nifty-next-50-index" target="_blank" data-smartkarma-citation="entities:36053:1" rel="noopener">Nifty Next 50 Index (NIFTYJR INDEX)</a>. There are 5 adds and 5 deletes. </li>
<li>Last evening, NSE Indices announced a change in the index methodology where the cumulative weight of non-F&amp;O stocks in the index will be capped at 10% (down from 15% earlier).</li>
<li>This changes the flows at the March rebalance that will be implemented at the close of trading on 29 March.</li>
</ul>


On 17 February, NSE Indices announced the results of the March index review for the Nifty Next 50 Index (NIFTYJR INDEX). There are 5 adds and 5 deletes. 
Last evening, NSE Indices announced a change in the index methodology where the cumulative weight of non-F&amp;O stocks in the index will be capped at 10% (down from 15% earlier).
This changes the flows at the March rebalance that will be implemented at the close of trading on 29 March.


NIFTY NEXT50 /​ NIFTY100 Index Rebalance: Flows Change as Index Capping Methodology Changes

Event-Driven

<ul>
<li>The lock-up on nearly 9.4bn shares of <a href="https://www.smartkarma.com/entities/yes-bank-ltd" target="_blank" data-smartkarma-citation="entities:767:1" rel="noopener">Yes Bank (YES IN)</a> expires on 13 March. Most of that is from the banks that helped in the recapitalisation in March 2020.</li>
<li>There will be forced sellers as soon as the lock-up ends, and there will be other sellers that will want to sell.</li>
<li>The forced and discretionary selling will be offset to a very small extent by inflows from passive trackers in May/June as the free float for the stock increases.</li>
</ul>


The lock-up on nearly 9.4bn shares of Yes Bank (YES IN) expires on 13 March. Most of that is from the banks that helped in the recapitalisation in March 2020.
There will be forced sellers as soon as the lock-up ends, and there will be other sellers that will want to sell.
The forced and discretionary selling will be offset to a very small extent by inflows from passive trackers in May/June as the free float for the stock increases.


YES Bank Lock-Up Expiry: Forced Sellers, Overhang & Index Implications

<ul><li>Axis Top picks basket delivered a positive return of 0.7%, outperforming the Nifty 50 index which declined by 1.7% over the same period (since 1st Feb’23).</li><li>This outperformance was indeed commendable, especially considering the highly volatile month of Feb’23 which witnessed a rather mixed performance across the sectoral, market cap, and style indices.</li><li>Furthermore, our Top Picks basket has delivered an impressive return of 149% since its inception in May’20, which stands significantly higher than the 87% returns reported by Nifty 50 over the same period.</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.

Axis Top picks basket delivered a positive return of 0.7%, outperforming the Nifty 50 index which declined by 1.7% over the same period (since 1st Feb’23).This outperformance was indeed commendable, especially considering the highly volatile month of Feb’23 which witnessed a rather mixed performance across the sectoral, market cap, and style indices.Furthermore, our Top Picks basket has delivered an impressive return of 149% since its inception in May’20, which stands significantly higher than the 87% returns reported by Nifty 50 over the same period.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.

<ul><li>The Union Budget 2023-24 lived up to all the market expectations, which was driven primarily by capital expenditure while simultaneously providing an adequate thrust to rural welfare and agriculture.</li><li>While the government successfully achieved the fiscal deficit target for FY23, it has now pegged a fiscal deficit target of 5.9% for FY24, which seems achievable.</li><li>This year’s Budget rightly focused more on Capex spending (to the tune of Rs 10 Lc Cr) with the government’s plans to provide a significant thrust to the country’s infrastructure development including impetus to the Roads, Railways, Airways, Ports, Mass Transports, Waterways, and Logistics Infra development.</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 Union Budget 2023-24 lived up to all the market expectations, which was driven primarily by capital expenditure while simultaneously providing an adequate thrust to rural welfare and agriculture.While the government successfully achieved the fiscal deficit target for FY23, it has now pegged a fiscal deficit target of 5.9% for FY24, which seems achievable.This year’s Budget rightly focused more on Capex spending (to the tune of Rs 10 Lc Cr) with the government’s plans to provide a significant thrust to the country’s infrastructure development including impetus to the Roads, Railways, Airways, Ports, Mass Transports, Waterways, and Logistics Infra development.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.

India

The Nifty Junior Index is a free-float capitalization weighted index of the most liquid stocks excluded from the Nifty Index.

NSE Nifty Next 50 Index (NIFTYJR INDEX EQUITY)

Price Gauge
52-week Range	0.00 - 0.00
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NSE Nifty Next 50 Index (NIFTYJR INDEX EQUITY)

Top Picks - Apr 2023

Axis Top Picks basket outperformed the benchmark by a significant margin with its impressive return of 9.7% in FY23 as against the 0.6% decline...

Axis Direct

NIFTY NEXT50 / NIFTY100 Index Rebalance: Flows Change as Index Capping Methodology Changes

NSE Indices announced a change in the index methodology where the cumulative weight of non-F&O stocks in the index will be capped at 10% (down from...

Brian Freitas

YES Bank Lock-Up Expiry: Forced Sellers, Overhang & Index Implications

Over 9bn shares of YES Bank unlock next week. There will be forced selling from local passive trackers, overhang from the banks that helped recap...

Brian Freitas

Axis Top Picks - March 2023

Axis Top picks basket delivered a positive return of 0.7%, outperforming the Nifty 50 index which declined by 1.7% over the same period (since 1st...

Axis Direct

Multi Asset Strategy - February 2023

While the government successfully achieved the fiscal deficit target for FY23, it has now pegged a fiscal deficit target of 5.9% for FY24, which...

Axis Direct

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Top Picks - Apr 2023

Axis Top Picks basket outperformed the benchmark by a significant margin with its impressive return of 9.7% in FY23 as against the 0.6% decline...

Axis Direct

NIFTY NEXT50 /​ NIFTY100 Index Rebalance: Flows Change as Index Capping Methodology Changes

NSE Indices announced a change in the index methodology where the cumulative weight of non-F&O stocks in the index will be capped at 10% (down from...

Brian Freitas

YES Bank Lock-Up Expiry: Forced Sellers, Overhang & Index Implications

Over 9bn shares of YES Bank unlock next week. There will be forced selling from local passive trackers, overhang from the banks that helped recap...

Brian Freitas

Axis Top Picks - March 2023

Axis Top picks basket delivered a positive return of 0.7%, outperforming the Nifty 50 index which declined by 1.7% over the same period (since 1st...

Axis Direct

Multi Asset Strategy - February 2023

While the government successfully achieved the fiscal deficit target for FY23, it has now pegged a fiscal deficit target of 5.9% for FY24, which...

Axis Direct

NIFTY NEXT50 / NIFTY100 Index Rebalance: Flows Change as Index Capping Methodology Changes