Index Rebal Trades & Special Situations, Quiddity Advisors

Janaghan Jeyakumar, CFA

Index Rebal Trades & Special Situations

Quiddity Advisors

Pan-Asia Catalysts/Events

Index Rebalance

<ul>
<li>The September 2024 Rebalance results for the NIFTY broad market Indices were announced after the close on Friday 23rd August 2024.</li>
<li>There will be two changes for NIFTY 50 and five changes for NIFTY 100 during the September 2024 index rebal event. All of these changes were as predicted. </li>
<li>All NIFTY 50 and NIFTY 100 changes will also be reflected in the NIFTY Next 50 index which could see US$647mn one-way capping flows.</li>
</ul>


The September 2024 Rebalance results for the NIFTY broad market Indices were announced after the close on Friday 23rd August 2024.
There will be two changes for NIFTY 50 and five changes for NIFTY 100 during the September 2024 index rebal event. All of these changes were as predicted. 
All NIFTY 50 and NIFTY 100 changes will also be reflected in the NIFTY Next 50 index which could see US$647mn one-way capping flows.


Quiddity NIFTY Sep 24 Rebal: US$647mn One-Way Capping for NIFTY Next 50; All Changes Were Predicted

External broker reports(aggregated public sources), Axis Direct

Axis Direct

External broker reports(aggregated public sources)

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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>PI Industries Ltd. (PI) delivered a strong performance in FY24, marked by consistent growth in revenue and margins.</li><li>The company reported an 18% increase in revenue from operations and a 37% YoY growth in PAT, despite facing global challenges.</li><li>Agchem exports rose by 19%, primarily driven by higher volumes and the introduction of new products for export, which helped offset a 5% decline in domestic revenue due to a 6% drop in volumes, attributed to delayed and unpredictable monsoon patterns.</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.

PI Industries Ltd. (PI) delivered a strong performance in FY24, marked by consistent growth in revenue and margins.The company reported an 18% increase in revenue from operations and a 37% YoY growth in PAT, despite facing global challenges.Agchem exports rose by 19%, primarily driven by higher volumes and the introduction of new products for export, which helped offset a 5% decline in domestic revenue due to a 6% drop in volumes, attributed to delayed and unpredictable monsoon patterns.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.

PI Industries Ltd. - Another Year of Robust Performance

Dr. Reddy's Laboratories / Index Rebalance

<ul>
<li>NIFTY 50 represents the 50 largest stocks listed in the National Stock Exchange (NSE) of India and the NIFTY Next 50 index tracks the next 50 largest names.</li>
<li>With three more trading days left in the reference period, we are presenting our final  expectations for ADDs and DELs for the September 2024 index rebal event.</li>
<li>We see five changes for the NIFTY 100 index which will also affect the NIFTY Next 50 index. There could also be multiple changes for the NIFTY 50 index.</li>
</ul>


NIFTY 50 represents the 50 largest stocks listed in the National Stock Exchange (NSE) of India and the NIFTY Next 50 index tracks the next 50 largest names.
With three more trading days left in the reference period, we are presenting our final  expectations for ADDs and DELs for the September 2024 index rebal event.
We see five changes for the NIFTY 100 index which will also affect the NIFTY Next 50 index. There could also be multiple changes for the NIFTY 50 index.


Quiddity Leaderboard NIFTY Sep 24: Final Expectations; Trades Perform Positively; New Ideas

<ul><li>The company delivered a 14% growth in Agchem exports, driven by higher volumes and a 24% YoY increase in new products.</li><li>In Q1, the company commercialized two new products and plans to aggressively launch 8-10 new CSM products in FY25.</li><li>Management noted that capacity expansion is on track, with continued momentum in new enquiries and conversions.</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 company delivered a 14% growth in Agchem exports, driven by higher volumes and a 24% YoY increase in new products.In Q1, the company commercialized two new products and plans to aggressively launch 8-10 new CSM products in FY25.Management noted that capacity expansion is on track, with continued momentum in new enquiries and conversions.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.

PI Industries Ltd - New Products and CSM Boost Export Growth and Margins

Thematic (Sector/Industry)

<ul><li>Q1FY25 earnings season was marked by a) Robust PMI manufacturing and Services, b) Stronger E-way bill and GST collection, d) Heat waves and electricity demand, and e) Election campaigns and rallies. Domestic-facing sectors largely enjoyed the economic recovery backed by these factors and hence, margins may surprise positively.</li><li>On the other hand, export-oriented themes are likely to showcase relatively weaker performance.</li><li>Most of the domestic high-frequency indicators have trended higher during the quarter which is likely to translate into good demand momentum for the domestic corporate segment. </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.

Q1FY25 earnings season was marked by a) Robust PMI manufacturing and Services, b) Stronger E-way bill and GST collection, d) Heat waves and electricity demand, and e) Election campaigns and rallies. Domestic-facing sectors largely enjoyed the economic recovery backed by these factors and hence, margins may surprise positively.On the other hand, export-oriented themes are likely to showcase relatively weaker performance.Most of the domestic high-frequency indicators have trended higher during the quarter which is likely to translate into good demand momentum for the domestic corporate segment. 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

PI Industries Limited manufactures agricultural and fine chemicals, and polymers. The Company produces fine chemicals; crop protection, plant nutrients, and seeds; and engineering plastics for use in the automobile, electrical, and home appliances industries.

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Pi Industries (PI IN)

Quiddity NIFTY Sep 24 Rebal: US$647mn One-Way Capping for NIFTY Next 50; All Changes Were Predicted

The NIFTY50/NIFTY Next 50 Inclusion/Exclusion events will take place at the close of 27th September 2024. The final capping flows will be decided...

Janaghan Jeyakumar, CFA

PI Industries Ltd. - Another Year of Robust Performance

The company reported an 18% increase in revenue from operations and a 37% YoY growth in PAT, despite facing global challenges.

Axis Direct

Quiddity Leaderboard NIFTY Sep 24: Final Expectations; Trades Perform Positively; New Ideas

The official index changes for the NIFTY September 2024 index rebal event will be confirmed after market close on Friday 23rd August 2024. In this...

Janaghan Jeyakumar, CFA

PI Industries Ltd - New Products and CSM Boost Export Growth and Margins

The company delivered a 14% growth in Agchem exports, driven by higher volumes and a 24% YoY increase in new products. In Q1, the company...

Axis Direct

Q1FY25 - Consolidated Earnings Preview

Based on our and consensus estimates, we forecast Nifty to deliver Revenue/EBITDA/PAT growth of 7.8%/3%/1.2% respectively for the quarter.

Axis Direct

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