Global Healthcare Analyst

Tina Banerjee

Equity Bottom-Up

<ul>
<li>
<a href="https://www.smartkarma.com/entities/biocon-ltd" target="_blank" data-smartkarma-citation="entities:398:1" rel="noopener">Biocon Ltd (BIOS IN)</a> divested 5.4% stake in <a href="https://www.smartkarma.com/entities/syngene-international-ltd" target="_blank" data-smartkarma-citation="entities:26923:1" rel="noopener">Syngene International Ltd (SYNG IN)</a> and raised INR12.2B. The proceed will be used to finance Biocon’s acquisition of biologics business of Viatris.</li>
<li>Biocon is still working on the equity-debt split of Viatris deal, and a final decision on the same will be announced soon.</li>
<li>The strategic deal with Viatris will transform Biocon Biologics into a leading vertically integrated global biologics company, with one of the broadest and deepest commercialized biosimilars portfolio in the industry.</li>
</ul>



Biocon Ltd (BIOS IN) divested 5.4% stake in Syngene International Ltd (SYNG IN) and raised INR12.2B. The proceed will be used to finance Biocon’s acquisition of biologics business of Viatris.
Biocon is still working on the equity-debt split of Viatris deal, and a final decision on the same will be announced soon.
The strategic deal with Viatris will transform Biocon Biologics into a leading vertically integrated global biologics company, with one of the broadest and deepest commercialized biosimilars portfolio in the industry.


Biocon Ltd (BIOS IN): Stake Sale in Subsidiary Is a Step in Right Direction

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 puts out a weekly update on the deals that were covered by the team recently along with updates for upcoming IPOs.</li>
<li>On the IPO front, a few large Hong Kong IPOs are lining up to launch soon.</li>
<li>Placements picked up this week in Japan and India with most being secondary deals.</li>
</ul>


Aequitas Research puts out a weekly update on the deals that were covered by the team recently along with updates for upcoming IPOs.
On the IPO front, a few large Hong Kong IPOs are lining up to launch soon.
Placements picked up this week in Japan and India with most being secondary deals.


ECM Weekly (12th Sep 2022) - Onewo, CALB, YSB, Medanta, Beneunder, JMDC, SH Holdings, Indigo

External broker reports(aggregated public sources), ICICI Securities Ltd

ICICI Securities Limited

External broker reports(aggregated public sources)

ICICI Securities Ltd

ICICI Securities Limited provides investment services. The Company provides corporate and investment banking, securities, wealth management, retail brokerage, initial public offerings, and advisory services. 

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.

Syngene International Ltd / Equity Bottom-Up

<ul><li>Syngene is a contract research, development and manufacturing organisation catering mainly to global innovator pharma\chemical companies </li><li>Syngene serves these players, which outsource some or substantial part of their business in the product development life cycle</li><li>Target Price &amp; Valuation: We value Syngene at Rs 710 i.e. 40x FY24E EPS of |17.8</li></ul><div class="content-highlight"><em>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.</em></div>

Syngene is a contract research, development and manufacturing organisation catering mainly to global innovator pharma\chemical companies Syngene serves these players, which outsource some or substantial part of their business in the product development life cycleTarget Price &amp; Valuation: We value Syngene at Rs 710 i.e. 40x FY24E EPS of |17.8Content 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.

Syngene International Ltd: Guidance Raised on Upbeat Numbers, Outlook

<p>Revenue breakup: Discovery services (35%): FTE engagements with high renewability; Dedicated services (32%): Long-term strategic alliances that last usually five years or more, Development and manufacturing (33%): FFS...</p><div class="content-highlight"><em>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.</em></div>

Revenue breakup: Discovery services (35%): FTE engagements with high renewability; Dedicated services (32%): Long-term strategic alliances that last usually five years or more, Development and manufacturing (33%): FFS...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.

Syngene International: Decent Numbers Despite Some Margin Pressure

Technical Analyst, Vermilion Research

Joe Jasper

Technical Analyst

Technical and Quantitative Research

Vermilion Research

Vermilion’s objective is to deliver timely, actionable, and unique technical research to professional investors through the application of our various technical indicators.

Our research strategists seek to highlight securities which we believe are at major inflection points, based on our various technical and quantitative indicators, and offer asymmetric risk/return profiles. Our unique research methodology, centered on relative strength, enables our strategists to deliver superior investment recommendations.

Our process begins by organizing the universe of actively traded stocks into discrete sectors, then into industry groups. We then apply our technical and quantitative tools to identify developing price trends. Once attractive trends are identified within a selected sector or group, we screen for individual stocks which we believe offer the best risk/reward profile. We provide a historical perspective that often reveals, through our long-term charts, how price patterns often repeat themselves over time.

Technical Analysis

<p>Crude oil prices display bullish short-term reversals, resulting in bullish price and RS reversals for global Energy stocks -- add exposure. From a macro perspective, despite some mild price deterioration recently on major indexes around the globe, our outlook remains unchanged and we remain neutral yet constructive overall. Market dynamics remain largely constructive and we continue to see attractive opportunities in many countries/regions such as Japan, China (Shanghai Composite), Europe, India, and Canada, to name a few.</p>

Crude oil prices display bullish short-term reversals, resulting in bullish price and RS reversals for global Energy stocks -- add exposure. From a macro perspective, despite some mild price deterioration recently on major indexes around the globe, our outlook remains unchanged and we remain neutral yet constructive overall. Market dynamics remain largely constructive and we continue to see attractive opportunities in many countries/regions such as Japan, China (Shanghai Composite), Europe, India, and Canada, to name a few.

Global Energy Sector Improving -- Buying Reliance Industries Ltd, Several Others

India

Syngene International Limited provides contract research and manufacturing services to the pharmaceutical industry. The Company offers chemical and formulation development, polymer research, large molecule and clinical development, and stability services. Syngene International serves customers worldwide.

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Syngene International Ltd (SYNG IN)

Biocon Ltd (BIOS IN): Stake Sale in Subsidiary Is a Step in Right Direction

Biocon divested 5.4% stake in Syngene for INR12.2B to partly fund Viatris acquisition. Stake sell in Biocon Biologics and final decision on Viatris...

Tina Banerjee

ECM Weekly (12th Sep 2022) - Onewo, CALB, YSB, Medanta, Beneunder, JMDC, SH Holdings, Indigo

Aequitas Research puts out a weekly update on the deals that were covered by the team recently along with updates for upcoming IPOs.

Sumeet Singh

Syngene International Ltd: Guidance Raised on Upbeat Numbers, Outlook

Revenue breakup: Discovery services (35%): FTE engagements with high renewability; Dedicated services (32%): Long-term strategic alliances that...

ICICI Securities Limited

Syngene International: Decent Numbers Despite Some Margin Pressure

Revenue breakup: Discovery services (35%): FTE engagements with high renewability; Dedicated services (32%): Long-term strategic alliances that...

ICICI Securities Limited

Global Energy Sector Improving -- Buying Reliance Industries Ltd, Several Others

Crude oil prices display bullish short-term reversals, resulting in bullish price and RS reversals for global Energy stocks -- add exposure.

Vermilion Research

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