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

Event-Driven

<ul>
<li>Companies in India have disclosed their shareholding pattern as of end-March in April. There are companies with significant float changes from end-September and/or end-December.</li>
<li>The changes in free float could be reflected in domestic and global indices over the next few weeks and months resulting in action from passive trackers.</li>
<li>Depending on the date that the shareholding was published, there could be 14 stocks with passive inflows from global trackers while 7 could see passive outflows in May.</li>
</ul>


Companies in India have disclosed their shareholding pattern as of end-March in April. There are companies with significant float changes from end-September and/or end-December.
The changes in free float could be reflected in domestic and global indices over the next few weeks and months resulting in action from passive trackers.
Depending on the date that the shareholding was published, there could be 14 stocks with passive inflows from global trackers while 7 could see passive outflows in May.


India: Potential Free Float Changes & Passive Flows in May

Consumer Analyst / Channel Surveillance Specialist, Trudence Capital Advisors

Pranav Bhavsar

Consumer Analyst / Channel Surveillance Specialist

Trudence Capital Advisors

Trudence Capital Advisors Private Limited is a SEBI-registered Research Analyst, holding SEBI registration number INH000015747. Our firm is dedicated to providing independent and unbiased research on Indian mid to large-cap companies. Trudence Capital is known for its counter-consensus views, with a focus on forensic research and on-ground primary investigations. Our research approach is thorough, involving detailed analysis of accounting practices and governance, alongside extensive channel checks.

Independent & Unbiased Research

Equity Bottom-Up

<ul>
<li>Our flash checks across a couple of dealers indicate pressure on margins across the industry. <a href="https://www.smartkarma.com/entities/voltas-ltd" target="_blank" data-smartkarma-citation="entities:19924:1" rel="noopener">Voltas Ltd (VOLT IN)</a> is trying hard to gain market share.</li>
<li>Other names discussed include <a href="https://www.smartkarma.com/entities/pnb-housing-finance-ltd" target="_blank" data-smartkarma-citation="entities:23613:1" rel="noopener">PNB Housing Finance Ltd (PNBHOUSI IN)</a>, <a href="https://www.smartkarma.com/entities/vedant-fashions-limited" target="_blank" data-smartkarma-citation="entities:34260:1" rel="noopener">Vedant Fashions (MANYAVAR IN)</a> and <a href="https://www.smartkarma.com/entities/bandhan-bank-ltd" target="_blank" data-smartkarma-citation="entities:26705:1" rel="noopener">Bandhan Bank Ltd (BANDHAN IN)</a>. </li>
<li>
<a href="https://www.smartkarma.com/entities/varun-beverages-ltd" target="_blank" data-smartkarma-citation="entities:23653:1" rel="noopener">Varun Beverages (VBL IN)</a> and <a href="https://www.smartkarma.com/entities/schaeffler-india-ltd" target="_blank" data-smartkarma-citation="entities:6434:1" rel="noopener">Schaeffler India (SCHFL IN)</a> show up as interesting ARs to read. </li>
</ul>


Our flash checks across a couple of dealers indicate pressure on margins across the industry. Voltas Ltd (VOLT IN) is trying hard to gain market share.
Other names discussed include PNB Housing Finance Ltd (PNBHOUSI IN), Vedant Fashions (MANYAVAR IN) and Bandhan Bank Ltd (BANDHAN IN). 

Varun Beverages (VBL IN) and Schaeffler India (SCHFL IN) show up as interesting ARs to read. 


[#22] Namaste India 🙏 | Voltas Ltd (VOLT IN) | Margin Pressure to Continue

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>Pick of the Week (PoW): POW calls delivered an astounding monthly strike rate of 92% in Mar’24.</li><li>Calls that successfully achieved their target were P I Industries Ltd (11%)</li><li>Axis Top Picks: We are proud to share that our Axis Top Picks basket delivered impressive returns of 46% in FY24, beating the benchmark Nifty 50 index (28.6% return over the same period) by a wide margin. </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.

Pick of the Week (PoW): POW calls delivered an astounding monthly strike rate of 92% in Mar’24.Calls that successfully achieved their target were P I Industries Ltd (11%)Axis Top Picks: We are proud to share that our Axis Top Picks basket delivered impressive returns of 46% in FY24, beating the benchmark Nifty 50 index (28.6% return over the same period) by a wide margin. 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 Research Scorecard Report for March 2024

<ul><li>AxisTop Picks basket delivered impressive returns of 46% in FY24, against the 28.6% return posted by the benchmark Nifty 50, implying a commendable outperformance of 17.5% over the benchmark.</li><li>On a YTD basis, this basket advanced by 6% vs. the Nifty returns of 2.7% for the same period.</li><li>We are extremely happy to share that our Top Picks Basket has delivered an astounding return of 263% since its inception (May’20), which stands well above the 141% return 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.

AxisTop Picks basket delivered impressive returns of 46% in FY24, against the 28.6% return posted by the benchmark Nifty 50, implying a commendable outperformance of 17.5% over the benchmark.On a YTD basis, this basket advanced by 6% vs. the Nifty returns of 2.7% for the same period.We are extremely happy to share that our Top Picks Basket has delivered an astounding return of 263% since its inception (May’20), which stands well above the 141% return 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.

Axis Top Picks for the Month of April 2024

<ul><li>Pick of the Week (PoW): POW calls delivered an astounding monthly strike rate of 92% in Feb’24.</li><li>Calls that successfully achieved their target were Coal India (10%) and ACC (10%) Axis Top Picks: We are proud to share that our Axis Top Picks basket delivered impressive returns of 46% in the last one year, beating the benchmark Nifty 50 index (27% return over the same period) by a wide margin.</li><li>In Feb’24, the basket inched up further by 1.8%. A few picks that reported excellent returns included SBI (15.5%), Varun Beverage (9.7%), Coal India (7.4%), TVS Motor (7.2%), and Lupin (7.1%). </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.

Pick of the Week (PoW): POW calls delivered an astounding monthly strike rate of 92% in Feb’24.Calls that successfully achieved their target were Coal India (10%) and ACC (10%) Axis Top Picks: We are proud to share that our Axis Top Picks basket delivered impressive returns of 46% in the last one year, beating the benchmark Nifty 50 index (27% return over the same period) by a wide margin.In Feb’24, the basket inched up further by 1.8%. A few picks that reported excellent returns included SBI (15.5%), Varun Beverage (9.7%), Coal India (7.4%), TVS Motor (7.2%), and Lupin (7.1%). 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 Research Scorecard Report for Feb 2024

India

Varun Beverages Limited produces and distributes beverages. The Company offers carbonated soft drinks and non-alcoholic beverages, as well as provides packaged drinking water. Varun Beverages serves customers worldwide.

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Varun Beverages (VBL IN)

India: Potential Free Float Changes & Passive Flows in May

Changes to shareholding patterns could lead to changes in float for some stocks in local/global indices. Passive trackers will need to trade over 3...

Brian Freitas

[#22] Namaste India 🙏 | Voltas Ltd (VOLT IN) | Margin Pressure to Continue

Industry margins under pressure, Voltas Ltd striving for market share. Other companies discussed include PNB Housing Finance Ltd, Vedant Fashions,...

Pranav Bhavsar

Axis Research Scorecard Report for March 2024

Pick of the Week (PoW): POW calls delivered an astounding monthly strike rate of 92% in Mar’24. Calls that successfully achieved their target were...

Axis Direct

Axis Top Picks for the Month of April 2024

AxisTop Picks basket delivered impressive returns of 46% in FY24, against the 28.6% return posted by the benchmark Nifty 50, implying a commendable...

Axis Direct

Axis Research Scorecard Report for Feb 2024

In Feb’24, the basket inched up further by 1.8%. A few picks that reported excellent returns included SBI (15.5%), Varun Beverage (9.7%), Coal...

Axis Direct

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

India: Potential Free Float Changes & Passive Flows in May

Changes to shareholding patterns could lead to changes in float for some stocks in local/global indices. Passive trackers will need to trade over 3...

Brian Freitas

[#22] Namaste India 🙏 | Voltas Ltd (VOLT IN) | Margin Pressure to Continue

​Industry margins under pressure, Voltas Ltd striving for market share. Other companies discussed include PNB Housing Finance Ltd, Vedant Fashions,...

Pranav Bhavsar

Axis Research Scorecard Report for March 2024

Pick of the Week (PoW): POW calls delivered an astounding monthly strike rate of 92% in Mar’24. Calls that successfully achieved their target were...

Axis Direct

Axis Top Picks for the Month of April 2024

AxisTop Picks basket delivered impressive returns of 46% in FY24, against the 28.6% return posted by the benchmark Nifty 50, implying a commendable...

Axis Direct

Axis Research Scorecard Report for Feb 2024

In Feb’24, the basket inched up further by 1.8%. A few picks that reported excellent returns included SBI (15.5%), Varun Beverage (9.7%), Coal...

Axis Direct

Industry margins under pressure, Voltas Ltd striving for market share. Other companies discussed include PNB Housing Finance Ltd, Vedant Fashions,...