Senior Credit Analyst, Lucror Analytics

Leonard Law, CFA

Senior Credit Analyst

High Yield Experts

Lucror Analytics

Lucror Analytics is a leading credit and ESG research specialist and a provider of technology solutions for differentiated fixed income strategies. Our roots are in bottom-up fundamental credit analysis with a specialization in high yield corporate credits from Europe, Asia and Latin America. We are one of few research specialists integrating ESG considerations with fundamental credit research through a dedicated ESG platform. Our ESG assessment covers five key criteria: Disclosure, E,S, & G Pillars, Controversies, ESG Impact on Credit and ESG Momentum.

Recognizing the importance and value-add of Factor Investing in fixed income, Lucror developed the Smart Quant Navigator (SQN), an intuitive platform that helps clients devise and implement factor-based strategies ranging from pure quant to active fundamental, with integrated ESG.

Our company has been at the forefront of developments in the fixed income markets, identifying opportunities and consistently delivering new products and value-adding solutions to clients. Lucror has close relationships with the largest and most reputable asset managers, family offices, hedge funds, investment and wealth managers globally.

Credit

<ul>
<li>In today's Morning Views publication we comment on developments of the following high yield issuers: West China Cement, Adani Ports, Vedanta Resources, Softbank Group, Tata Motors, UPL Limited</li>
<li>In the US, the December personal spending came in above estimates at 0.7% m-o-m (0.5% e / 0.6% revised p), while personal income inched up to 0.4% m-o-m (0.4% e / 0.3% p).</li>
<li>Separately, the PCE price index climbed to 2.6% y-o-y (2.6% e / 2.4% p) and 0.3% m-o-m (0.3% e / 0.1% p). That said, the core PCE price index (the Fed's preferred measure of inflation) was largely stable at 2.8% y-o-y (2.8% e / 2.8% p) and 0.2% m-o-m (0.2% e / 0.1% p).</li>
</ul>


In today's Morning Views publication we comment on developments of the following high yield issuers: West China Cement, Adani Ports, Vedanta Resources, Softbank Group, Tata Motors, UPL Limited
In the US, the December personal spending came in above estimates at 0.7% m-o-m (0.5% e / 0.6% revised p), while personal income inched up to 0.4% m-o-m (0.4% e / 0.3% p).
Separately, the PCE price index climbed to 2.6% y-o-y (2.6% e / 2.4% p) and 0.3% m-o-m (0.3% e / 0.1% p). That said, the core PCE price index (the Fed's preferred measure of inflation) was largely stable at 2.8% y-o-y (2.8% e / 2.8% p) and 0.2% m-o-m (0.2% e / 0.1% p).


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

Event-Driven

<ul>
<li>
<a href="https://www.smartkarma.com/entities/vedanta-ltd" target="_blank" data-smartkarma-citation="entities:514:1" rel="noopener">Vedanta Ltd (VEDL IN)</a> plans a multi-segment demerger to unlock value by separating its aluminum, zinc, oil and gas, steel, and other core operations into standalone entities.</li>
<li>This restructuring aims to eliminate conglomerate discount, foster specialized leadership, and attract fresh capital, potentially enhancing overall valuations and fueling long-term growth across diversified segments.</li>
<li>Despite governance concerns and cyclical commodity risks, pure-play listings could catalyze re-ratings, offering heightened returns but requiring vigilance on execution and corporate transparency.</li>
</ul>



Vedanta Ltd (VEDL IN) plans a multi-segment demerger to unlock value by separating its aluminum, zinc, oil and gas, steel, and other core operations into standalone entities.
This restructuring aims to eliminate conglomerate discount, foster specialized leadership, and attract fresh capital, potentially enhancing overall valuations and fueling long-term growth across diversified segments.
Despite governance concerns and cyclical commodity risks, pure-play listings could catalyze re-ratings, offering heightened returns but requiring vigilance on execution and corporate transparency.


Event Driven: Vedanta Ltd: A Story of Wealth Creation Through Demerger

<ul>
<li>In today's Morning Views publication we comment on developments of the following high yield issuers: New World Development, China Vanke, Vedanta Resources</li>
<li>The US market was closed for the Martin Luther King Jr Day holiday yesterday.</li>
<li>In China, the one-year and five-year loan prime rates (quoted by commercial banks) have been maintained at 3.10% and 3.60%, respectively.</li>
</ul>


In today's Morning Views publication we comment on developments of the following high yield issuers: New World Development, China Vanke, Vedanta Resources
The US market was closed for the Martin Luther King Jr Day holiday yesterday.
In China, the one-year and five-year loan prime rates (quoted by commercial banks) have been maintained at 3.10% and 3.60%, respectively.


Trung Nguyen

<ul>
<li>In the US, the PPI for final demand unexpectedly eased to 0.2% m-o-m in December 2024 (0.4% e / 0.4% p) and came in below estimates at 3.3% y-o-y (3.5% e / 3.0% p).</li>
<li>Excluding food and energy, the PPI was flat m-o-m (0.3% e / 0.2% p) and 3.5% y-o-y (3.8% e / 3.5% revised p).</li>
<li>In the US, the PPI for final demand unexpectedly eased to 0.2% m-o-m in December 2024 (0.4% e / 0.4% p) and came in below estimates at 3.3% y-o-y (3.5% e / 3.0% p). </li>
</ul>


In the US, the PPI for final demand unexpectedly eased to 0.2% m-o-m in December 2024 (0.4% e / 0.4% p) and came in below estimates at 3.3% y-o-y (3.5% e / 3.0% p).
Excluding food and energy, the PPI was flat m-o-m (0.3% e / 0.2% p) and 3.5% y-o-y (3.8% e / 3.5% revised p).
In the US, the PPI for final demand unexpectedly eased to 0.2% m-o-m in December 2024 (0.4% e / 0.4% p) and came in below estimates at 3.3% y-o-y (3.5% e / 3.0% p). 


<ul>
<li>In today's Morning Views publication we comment on developments of the following high yield issuers: Yuexiu Property, Seazen Group, Vedanta Resources</li>
<li>In the US, the UST curve bear steepened slightly, amid a rise in oil price and a heavy pipeline of corporate bond issuances. The yield on the 2Y UST was unchanged at 4.38%, while that on the 10Y UST was up 2 bps at 4.78%. Equities were mixed.</li>
<li>The S&amp;P 500 rebounded 0.2% from last Friday’s selloff to close at 5,836. That said, the Nasdaq fell 0.4% to 19,088, driven by a decline in large tech stocks.</li>
</ul>


In today's Morning Views publication we comment on developments of the following high yield issuers: Yuexiu Property, Seazen Group, Vedanta Resources
In the US, the UST curve bear steepened slightly, amid a rise in oil price and a heavy pipeline of corporate bond issuances. The yield on the 2Y UST was unchanged at 4.38%, while that on the 10Y UST was up 2 bps at 4.78%. Equities were mixed.
The S&amp;P 500 rebounded 0.2% from last Friday’s selloff to close at 5,836. That said, the Nasdaq fell 0.4% to 19,088, driven by a decline in large tech stocks.


India

Vedanta Resources Limited operates as a diversified natural resource company. The Company extracts and process zinc, lead, aluminum, iron ore, copper, and silver, as well as focuses on oil and natural gas. Vedanta Resources serves clients worldwide.

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Vedanta Resources (VED LN)

Lucror Analytics - Morning Views Asia

In today's Morning Views publication we comment on developments of the following high yield issuers: West China Cement, Adani Ports, Vedanta...

Lucror Analytics

Event Driven: Vedanta Ltd: A Story of Wealth Creation Through Demerger

Vedanta Ltd plans multi-segment demerger to unlock value by separating core operations into standalone entities, aiming to eliminate conglomerate...

Nimish Maheshwari

Lucror Analytics - Morning Views Asia

In today's Morning Views publication we comment on developments of the following high yield issuers: New World Development, China Vanke, Vedanta...

Lucror Analytics

Lucror Analytics - Morning Views Asia

In the US, the PPI for final demand unexpectedly eased to 0.2% m-o-m in December 2024 (0.4% e / 0.4% p) and came in below estimates at 3.3% y-o-y...

Lucror Analytics

Lucror Analytics - Morning Views Asia

In today's Morning Views publication we comment on developments of the following high yield issuers: Yuexiu Property, Seazen Group, Vedanta Resources

Lucror Analytics

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Lucror Analytics - Morning Views Asia

In today's Morning Views publication we comment on developments of the following high yield issuers: West China Cement, Adani Ports, Vedanta...

Lucror Analytics

Event Driven: Vedanta Ltd: A Story of Wealth Creation Through Demerger

​Vedanta Ltd plans multi-segment demerger to unlock value by separating core operations into standalone entities, aiming to eliminate conglomerate...

Nimish Maheshwari

Lucror Analytics - Morning Views Asia

In today's Morning Views publication we comment on developments of the following high yield issuers: New World Development, China Vanke, Vedanta...

Lucror Analytics

Lucror Analytics - Morning Views Asia

In the US, the PPI for final demand unexpectedly eased to 0.2% m-o-m in December 2024 (0.4% e / 0.4% p) and came in below estimates at 3.3% y-o-y...

Lucror Analytics

Lucror Analytics - Morning Views Asia

In today's Morning Views publication we comment on developments of the following high yield issuers: Yuexiu Property, Seazen Group, Vedanta Resources

Lucror Analytics

Vedanta Ltd plans multi-segment demerger to unlock value by separating core operations into standalone entities, aiming to eliminate conglomerate...