Derivatives and Quantitative Strategist

Gaudenz Schneider

Equity Derivatives

<ul>
<li>This strategy exploits relative value in implied volatilities and combines it with a long Nifty 50 vs. short Nikkei 225 directional view over a period of two months.</li>
<li>The strategy performs well if the Nifty 50 rises <em>and</em> outperforms the Nikkei 225. If both indices decline, neither profit nor loss is incurred.</li>
<li>Leverage increases both the strategy's payoff and probability of success.</li>
</ul>


This strategy exploits relative value in implied volatilities and combines it with a long Nifty 50 vs. short Nikkei 225 directional view over a period of two months.
The strategy performs well if the Nifty 50 rises and outperforms the Nikkei 225. If both indices decline, neither profit nor loss is incurred.
Leverage increases both the strategy's payoff and probability of success.


EQD | Long Nifty 50 Vs. Short Nikkei 225 - A Relative Value Option Strategy with a Kicker

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

<ul>
<li>
<a href="https://www.smartkarma.com/entities/meesho-inc" target="_blank" data-smartkarma-citation="entities:35872:1" rel="noopener">Meesho (1546271D IN) </a>is looking to raise around US$607m in its upcoming India IPO.</li>
<li>Meesho is an e-commerce marketplace, offering a wide assortment of products ranging from low cost unbranded products, regional and national brands at affordable prices to consumers.</li>
<li>In our earlier notes, we have looked at the company’s past performance earlier. In this note, we talk about the implied valuations in the price range.</li>
</ul>



Meesho (1546271D IN) is looking to raise around US$607m in its upcoming India IPO.
Meesho is an e-commerce marketplace, offering a wide assortment of products ranging from low cost unbranded products, regional and national brands at affordable prices to consumers.
In our earlier notes, we have looked at the company’s past performance earlier. In this note, we talk about the implied valuations in the price range.


Meesho Ltd IPO - Value-Led Play, Moderately Priced

Global Materials | Industrials | Commodities

Rahul Jain

Equity Bottom-Up

<ul>
<li>Reliance plans to invest Rs40,000–45,000 crore (30% of total capex) into its New Energy business over FY25–FY28.</li>
<li>Solar PV manufacturing (10 GW), Green Hydrogen (electrolyzers + hydrogen production), Energy Storage (30 GWh batteries), Biogas (CBG plants), and Carbon Capture initiatives.</li>
<li>New Energy could contribute 8–10% of Reliance’s total EBITDA over the next 10 years as projects mature and commercial operations ramp up.</li>
</ul>


Reliance plans to invest Rs40,000–45,000 crore (30% of total capex) into its New Energy business over FY25–FY28.
Solar PV manufacturing (10 GW), Green Hydrogen (electrolyzers + hydrogen production), Energy Storage (30 GWh batteries), Biogas (CBG plants), and Carbon Capture initiatives.
New Energy could contribute 8–10% of Reliance’s total EBITDA over the next 10 years as projects mature and commercial operations ramp up.


Head of Research, IPOs & Placements, Aequitas Research

Sumeet Singh

Head of Research, IPOs & Placements

<ul>
<li>
<a href="https://www.smartkarma.com/entities/swiggy-limited" target="_blank" data-smartkarma-citation="entities:35630:1" rel="noopener">Swiggy (SWIGGY IN)</a> raised around US$1.35bn in its India IPO in Nov 2024. The company now plans to raise another US$1bn worth of fresh funds.</li>
<li>Swiggy is a business to commerce marketplace company offering users a platform for ordering grocery and household items and food delivery, through its on-demand delivery network</li>
<li>In this note, we will talk about the deal dynamics and possible placement.</li>
</ul>



Swiggy (SWIGGY IN) raised around US$1.35bn in its India IPO in Nov 2024. The company now plans to raise another US$1bn worth of fresh funds.
Swiggy is a business to commerce marketplace company offering users a platform for ordering grocery and household items and food delivery, through its on-demand delivery network
In this note, we will talk about the deal dynamics and possible placement.


Swiggy Possible Placement - US$1bn Raising, Will Be Well Flagged, Might Not Be Well Liked

Market & Forensics Analyst, Beat the Street

Nimish Maheshwari

Market & Forensics Analyst

Beat the Street

Beat The Street was founded by Nimish Maheshwari and Sudarshan Bhandari, both of whom are Chartered Accountants by Profession, known for their expert analysis in the fields of Business, Sectoral analysis, and Corporate governance.

With a strong social media presence of 45,000+ Subscribers across various platforms, they are considered trusted voices in the industry. Their insights and analysis have been featured in some of India’s most prominent publications, including the Economic Times, Dalal Street Investment Journal, The Morning Context, and The Ken.

Their analysis on Bankrupt & Insolvent companies has been instrumental in saving investors from significant losses. They have a keen eye for identifying red flags and has identified exclusive redflags earlier in Vedanta, Nykaa, Dhani Services, Adani and many more.

Read Business Not Stock Prices

Forensic Accounting

Reliance Industries / Forensic Accounting

<ul>
<li>Reliance bought 5,286 acres of prime industrial land in Navi Mumbai, which was sold for a surprisingly low INR 2,200 cr whose economic value is around INR 1 Lakh cr.</li>
<li>This complex transaction done at a steep discount raises corporate governance issues for other shareholders like Jai Corp owing to valuations, disclosure lapses and minority shareholder rights.</li>
<li>We delve into details of the deal structure and what it means for respective companies's shareholders.</li>
</ul>


Reliance bought 5,286 acres of prime industrial land in Navi Mumbai, which was sold for a surprisingly low INR 2,200 cr whose economic value is around INR 1 Lakh cr.
This complex transaction done at a steep discount raises corporate governance issues for other shareholders like Jai Corp owing to valuations, disclosure lapses and minority shareholder rights.
We delve into details of the deal structure and what it means for respective companies's shareholders.


Steep Discount on Land Acquisition by Reliance Sparks Corporate Governance Debate

India

Reliance Industries Ltd. manufactures petrochemicals, synthetic fibers, fiber intermediates, textiles, blended yarn and polyester staple fiber. The Company also owns a petroleum refinery cum petrochemicals complex in Jamnagar, India that produces a wide range of products such as gasoline, superior kerosene oil and liquefied petroleum gas.

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Reliance Industries (RELIANCE IN)

EQD | Long Nifty 50 Vs. Short Nikkei 225 - A Relative Value Option Strategy with a Kicker

Option strategy: exploit relative value in implied volatilities combined with directional positioning for a leveraged payoff in a long Nifty 50 vs....

Gaudenz Schneider

Meesho Ltd IPO - Value-Led Play, Moderately Priced

Meesho Ltd (ML) is looking to raise around US$607m in its upcoming India IPO. In this note, we talk about the company’s implied valuations in the...

Akshat Shah

Reliance: Betting Big on New Energy

Reliance to invest ₹40,000–45,000 crore in New Energy business over FY25–FY28, and expected to contribute 8–10% of total EBITDA in the next decade.

Rahul Jain

Swiggy Possible Placement - US$1bn Raising, Will Be Well Flagged, Might Not Be Well Liked

Swiggy (SWIGGY IN) raised around US$1.35bn in its India IPO in Nov 2024. The company now plans to raise another US$1bn worth of fresh funds.

Sumeet Singh

Steep Discount on Land Acquisition by Reliance Sparks Corporate Governance Debate

Reliance's purchase of industrial land in Navi Mumbai at a steep discount raises corporate governance concerns for shareholders like Jai Corp due...

Nimish Maheshwari

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52-week Range

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EQD | Long Nifty 50 Vs. Short Nikkei 225 - A Relative Value Option Strategy with a Kicker

Option strategy: exploit relative value in implied volatilities combined with directional positioning for a leveraged payoff in a long Nifty 50 vs....

Gaudenz Schneider

Meesho Ltd IPO - Value-Led Play, Moderately Priced

Meesho Ltd (ML) is looking to raise around US$607m in its upcoming India IPO. In this note, we talk about the company’s implied valuations in the...

Akshat Shah

Reliance: Betting Big on New Energy

​Reliance to invest ₹40,000–45,000 crore in New Energy business over FY25–FY28, and expected to contribute 8–10% of total EBITDA in the next decade.

Rahul Jain

Swiggy Possible Placement - US$1bn Raising, Will Be Well Flagged, Might Not Be Well Liked

Swiggy (SWIGGY IN) raised around US$1.35bn in its India IPO in Nov 2024. The company now plans to raise another US$1bn worth of fresh funds.

Sumeet Singh

Steep Discount on Land Acquisition by Reliance Sparks Corporate Governance Debate

​Reliance's purchase of industrial land in Navi Mumbai at a steep discount raises corporate governance concerns for shareholders like Jai Corp due...

Nimish Maheshwari

Reliance to invest ₹40,000–45,000 crore in New Energy business over FY25–FY28, and expected to contribute 8–10% of total EBITDA in the next decade.

Reliance's purchase of industrial land in Navi Mumbai at a steep discount raises corporate governance concerns for shareholders like Jai Corp due...