Information Technology Consultant

Ishita Jain

Thematic (Sector/Industry)

Airbus and Boeing, the powerhouses of the aircraft manufacturing industry and the largest duopoly in the world, shared revenues of $407.5 billion in 2014. As the fight for market share trudges along, it is a battle of nerves and steel (or carbon fiber in this matter). The airlines industry today is dynamic and competitive, investing in cost-saving measures rapidly. How are these two manufacturing giants coping up? Let us take a look.

Airbus and Boeing, the powerhouses of the aircraft manufacturing industry and the largest duopoly in the world, shared revenues of $407.5 billion in 2014. As the fight for market share trudges along, it is a battle of nerves and steel (or carbon fiber in this matter). The airlines industry today is dynamic and competitive, investing in cost-saving measures rapidly. How are these two manufacturing giants coping up? Let us take a look.

Flying through turbulent or clear skies: An analysis on Airbus & Boeing

Pan-Asia Catalysts/Events, Quiddity Advisors

Travis Lundy

Pan-Asia Catalysts/Events

Quiddity Advisors

Index Rebalance

NextVision Stabilized Systems / Index Rebalance

<ul>
<li>The MV Global Defense Industry Index represents the performance of companies in national defense industries.</li>
<li>There will be four ADDs for the MV Global Defense Index for the December 2025 rebal. </li>
<li>We expect one-way flow of US$391mn for December 2025, which translates to a turnover of 5.4%.</li>
</ul>


The MV Global Defense Industry Index represents the performance of companies in national defense industries.
There will be four ADDs for the MV Global Defense Index for the December 2025 rebal. 
We expect one-way flow of US$391mn for December 2025, which translates to a turnover of 5.4%.


[Quiddity Index] MV Global Defense Dec25 Rebalance Results: Flow Expectations

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

<ul>
<li>
<a href="https://www.smartkarma.com/entities/bigbear-ai-holdings-inc" target="_blank" data-smartkarma-citation="entities:36863:1" rel="noopener">BigBear.ai Holdings</a>, <a href="https://www.smartkarma.com/entities/next-vision-stabilized-systems-ltd-nextvision" target="_blank" data-smartkarma-citation="entities:44223:1" rel="noopener">NextVision Stabilized Systems</a>, <a href="https://www.smartkarma.com/entities/ondas-holdings-inc" target="_blank" data-smartkarma-citation="entities:33321:1" rel="noopener">Ondas Holdings Inc</a> and <a href="https://www.smartkarma.com/entities/planet-labs-pbc" target="_blank" data-smartkarma-citation="entities:35253:1" rel="noopener">Planet Labs</a> will be added to the MarketVector Global Defense Industry Index at the close on 19 December.</li>
<li>The 4 adds, float changes and capping changes will result in an estimated one-way turnover of 5.8% resulting in a round-trip trade of US$846m.</li>
<li>The adds have all run up over the last year and the passive buying could give the stocks another leg up in the short-term.</li>
</ul>



BigBear.ai Holdings, NextVision Stabilized Systems, Ondas Holdings Inc and Planet Labs will be added to the MarketVector Global Defense Industry Index at the close on 19 December.
The 4 adds, float changes and capping changes will result in an estimated one-way turnover of 5.8% resulting in a round-trip trade of US$846m.
The adds have all run up over the last year and the passive buying could give the stocks another leg up in the short-term.


MV Global Defense Industry Index Rebalance: 4 Adds; 5.8% Turnover; US$850m Trade

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

Raytheon Technologies  / Equity Bottom-Up

<ul><li>Raytheon Technologies Corporation (RTX) delivered robust second-quarter results in 2025, demonstrating strength across its diverse business segments amid a challenging operating environment.</li><li>The company reported a 9% year-over-year organic sales increase, propelled by significant gains in its commercial aerospace and defense sectors.</li><li>Notably, the commercial aftermarket segment experienced a 16% growth, continuing the positive momentum from the first quarter.</li></ul>

Raytheon Technologies Corporation (RTX) delivered robust second-quarter results in 2025, demonstrating strength across its diverse business segments amid a challenging operating environment.The company reported a 9% year-over-year organic sales increase, propelled by significant gains in its commercial aerospace and defense sectors.Notably, the commercial aftermarket segment experienced a 16% growth, continuing the positive momentum from the first quarter.

RTX On Fire: What Is The Strategy That Is Driving Its Global Growth & Margin Expansion?

Managing Director, Zero One, Zero One

Vincent Fernando, CFA

Managing Director, Zero One

Zero One

Founded in 2015, Zero One produces independent investment research and provides corporate finance advisory services with a focus on both listed and private technology companies. Founder Vincent Fernando has over 20 years of experience in US and Asia capital markets.

Independent Investment Research

<ul>
<li>
Submarine Milestone Validates CSBC’s Strategic Role: Taiwan’s June 17 maiden sea trial of the Hai Kun-class submarine highlights CSBC as the sole builder of Taiwan’s Indigenous Defense Submarine (IDS) program.</li>
<li>
Scale of Program Is Significant vs. Market Cap: Seven additional submarines are expected to follow, with a reported program budget of NT$284bn (~US$9.5bn), over 12x CSBC’s current US$760m market cap.</li>
<li>
Emerging Naval, Drones, &amp; Energy Platforms Provide Optionality: Beyond submarines, CSBC is expanding into unmanned surface vessels (USVs) and offshore wind engineering, offering long-term exposure to Taiwan’s asymmetric defense.</li>
</ul>



Submarine Milestone Validates CSBC’s Strategic Role: Taiwan’s June 17 maiden sea trial of the Hai Kun-class submarine highlights CSBC as the sole builder of Taiwan’s Indigenous Defense Submarine (IDS) program.

Scale of Program Is Significant vs. Market Cap: Seven additional submarines are expected to follow, with a reported program budget of NT$284bn (~US$9.5bn), over 12x CSBC’s current US$760m market cap.

Emerging Naval, Drones, &amp; Energy Platforms Provide Optionality: Beyond submarines, CSBC is expanding into unmanned surface vessels (USVs) and offshore wind engineering, offering long-term exposure to Taiwan’s asymmetric defense.


Defense Tech: Taiwan Advanced Submarine Trial & Global Turmoil Puts CSBC in the Investor Spotlight

United States

Raytheon Technologies Corporation operates as an aircraft manufacturing company. The Company focuses on technology offerings and engineering teams to deliver innovative solutions such as aero structures, avionics, interiors, mechanical systems, mission systems, aircraft engines, power and control systems, radars, software, and other products.

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Raytheon Technologies (RTX US)

Flying through turbulent or clear skies: An analysis on Airbus & Boeing

Airbus and Boeing, the powerhouses of the aircraft manufacturing industry and the largest duopoly in the world, shared revenues of $407.5 billion...

Ishita Jain

[Quiddity Index] MV Global Defense Dec25 Rebalance Results: Flow Expectations

Four ADDs and $800mm to trade in the MV Global Defense rebal to be executed on 19 December. There is one name with about 4x ADV to buy. The rest...

Travis Lundy

MV Global Defense Industry Index Rebalance: 4 Adds; 5.8% Turnover; US$850m Trade

There are 4 adds for the index in Dec. Estimated one-way turnover is 5.8% resulting in a round-trip trade of US$846m. The adds have run up a lot...

Brian Freitas

RTX On Fire: What Is The Strategy That Is Driving Its Global Growth & Margin Expansion?

Raytheon Technologies Corporation (RTX) delivered robust second-quarter results in 2025, demonstrating strength across its diverse business...

Baptista Research

Defense Tech: Taiwan Advanced Submarine Trial & Global Turmoil Puts CSBC in the Investor Spotlight

Taiwan's CSBC plays crucial role in submarine program, expanding its naval & drone platforms for defense. Recent successful sea trials of the Hai...

Vincent Fernando, CFA

Price Gauge

52-week Range

Market Cap (USDm)

P/E

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Flying through turbulent or clear skies: An analysis on Airbus & Boeing

Airbus and Boeing, the powerhouses of the aircraft manufacturing industry and the largest duopoly in the world, shared revenues of $407.5 billion...

Ishita Jain

[Quiddity Index] MV Global Defense Dec25 Rebalance Results: Flow Expectations

Four ADDs and $800mm to trade in the MV Global Defense rebal to be executed on 19 December. There is one name with about 4x ADV to buy. The rest...

Travis Lundy

MV Global Defense Industry Index Rebalance: 4 Adds; 5.8% Turnover; US$850m Trade

There are 4 adds for the index in Dec. Estimated one-way turnover is 5.8% resulting in a round-trip trade of US$846m. The adds have run up a lot...

Brian Freitas

RTX On Fire: What Is The Strategy That Is Driving Its Global Growth & Margin Expansion?

Raytheon Technologies Corporation (RTX) delivered robust second-quarter results in 2025, demonstrating strength across its diverse business...

Baptista Research

Defense Tech: Taiwan Advanced Submarine Trial & Global Turmoil Puts CSBC in the Investor Spotlight

​Taiwan's CSBC plays crucial role in submarine program, expanding its naval & drone platforms for defense. Recent successful sea trials of the Hai...

Vincent Fernando, CFA

Taiwan's CSBC plays crucial role in submarine program, expanding its naval & drone platforms for defense. Recent successful sea trials of the Hai...