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Smartkarma Daily Briefs

Dec 10
0

Daily Brief ECM: Mao Geping Cosmetics IPO Trading – Highest Demand for This Year and more

By | Daily Briefs, ECM

In today’s briefing:

  • Mao Geping Cosmetics IPO Trading – Highest Demand for This Year
  • Vishal Mega Mart IPO – Showcasing the Wrong Peers, Somewhat Limited Upside
  • LG Electronics India IPO Preview
  • LG Electronics India Pre-IPO Tearsheet
  • ServiceTitan Valuation Analysis: Attractive First-Day Return, Initial Price Range: $52.00-$57.00

Mao Geping Cosmetics IPO Trading – Highest Demand for This Year

By Sumeet Singh

  • Mao Geping Cosmetics raised around US$345m in its Hong Kong IPO.
  • Mao Geping Cosmetics (MGC) operates in the premium beauty segment. Operating via its two brands, MAOGEPING and Love Keeps, MGC offers a wide range of color cosmetics and skincare products.
  • We have looked at the company’s past performance in our previous notes. In this note, we will talk about the trading dynamics.

Vishal Mega Mart IPO – Showcasing the Wrong Peers, Somewhat Limited Upside

By Sumeet Singh

  • Vishal Mega Mart is planning to raise around US$950m through its upcoming IPO in India.
  • Vishal Mega Mart Limited (VMM), is a one-stop retail destination. As per the company it targets middle and lower-middle income consumers across India
  • We have looked at the company’s past performance in our previous notes. In this note, we will talk about the IPO valuations.

LG Electronics India IPO Preview

By Douglas Kim

  • LG Electronics India is getting ready to complete an IPO in India in the next several months. The IPO offering size is expected to be about US$1.8 billion.
  • LG Electronics (066570 KS) plans to sell 101.8 million shares, accounting for about 15% of the post-offer paid up equity capital shares of LG Electronics India.
  • If LGEI is valued at US$13 billion, then an 85% of this stake would be worth US$11.1 billion, which would be worth more than LG Electronics’s own market cap. 

LG Electronics India Pre-IPO Tearsheet

By Sumeet Singh

  • LG Electronics (066570 KS) is looking to raise US$1.5bn+ via part-selling its stake in LG Electronics India IPO. The deal will be run by MS, JPM, Axis, BofA and Citi.
  • LG Electronics India (LGEI) was the market leader in India in major home appliances and consumer electronics (excluding mobile phones) in terms of volume in 1Q25, as per Redseer Report.
  • LGEI has been the number one player in this industry for 13 consecutive years (CY11-CY23) as per the value market share in the offline channel in India, as per Redseer.

ServiceTitan Valuation Analysis: Attractive First-Day Return, Initial Price Range: $52.00-$57.00

By Andrei Zakharov

  • ServiceTitan, a founder-led market leader for trades businesses in the United States and Canada, is expected to IPO this week.
  • The company’s amended S-1 puts the initial price range per share at $52.00 to $57.00, implying a market cap of roughly $5B at the midpoint.  
  • I have a positive view of upcoming ServiceTitan IPO and expect an attractive first trading-day return. The stock will begin trading on the Nasdaq on Thursday.  

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Dec 10
0

Daily Brief Credit: Lucror Analytics – Morning Views Asia and more

By | Credit, Daily Briefs

In today’s briefing:

  • Lucror Analytics – Morning Views Asia

Lucror Analytics – Morning Views Asia

By Leonard Law, CFA

  • In the US, the November nonfarm payrolls came in marginally above expectations at 227 k (220 k e), and were up significantly from the upwardly revised 36 k figure for October (which was impacted by two hurricanes and a strike at Boeing).
  • Still, the three-month average payroll growth slowed from earlier in the year to 173 k.
  • Meanwhile, the unemployment rate inched up to 4.2% (4.1% e / 4.1% p). Average hourly earnings growth remained steady at 0.4% m-o-m (0.3% e / 0.4% p) and 4.0% y-o-y (3.9% e / 4.0% p).

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Dec 10
0

Daily Brief Event-Driven: Select Sector Indices and S&P Equal Weight Rebalance: US$16bn Trade; More Buying for APO and WDAY and more

By | Daily Briefs, Event-Driven

In today’s briefing:

  • Select Sector Indices and S&P Equal Weight Rebalance: US$16bn Trade; More Buying for APO and WDAY
  • CPMC Holdings (906 HK): Steady Nerves Required
  • S&P500/400/600 Index Rebalance: Apollo Global, Workday Added to SPX; AppLovin Misses Out
  • Flow Dynamics from NPS Exercising Appraisal Rights on Doosan Merger
  • Sanrio (8136 JP) Placement: Price Likely Determined Today; What Next?
  • CNBM (3323 HK)’s Buyback Ups Parent’s Stake >50%
  • S&P500 Dec24 Rebalance: APO and WDAY IN; QRVO and AMTM Demoted
  • EQD | Nikkei Index Options Weekly – Dec 02 – 06
  • Shanghai Fosun Pharmaceutical (2196.HK) – Performance Pain Points and Henlius’ Privatization Outlook
  • EQD | Hong Kong Single Stock Options Weekly Dec 02 – 06

Select Sector Indices and S&P Equal Weight Rebalance: US$16bn Trade; More Buying for APO and WDAY

By Brian Freitas

  • Constituent changes to the S&P 500 INDEX and capping changes will result in a round-trip trade of US$15.9bn across the Select Sector indices and the S&P500 Equal Weight Index.
  • The Select Sector index trackers and S&P 500 Equal Weight trackers will need to buy Apollo Global Management and Workday, adding to the buying from S&P 500 INDEX trackers.
  • The flows will change over the next week as stock prices move around and final capping is done after the close on 13 December.

CPMC Holdings (906 HK): Steady Nerves Required

By Arun George

  • ORG Technology Co., Ltd. A (002701 CH)’s offer for CPMC Holdings (906 HK) has one remaining precondition: SAFE approval.
  • Mr Wei’s irrevocable was terminated. Nevertheless, as a seller, he will accept the offer, as the shares trade below the offer price, and there is no competing offer. 
  • The precondition long stop date is 6 January, sufficient time to satisfy the precondition. It would be highly unusual to secure MOFCOM and NDRC approval but not SAFE approval.

S&P500/400/600 Index Rebalance: Apollo Global, Workday Added to SPX; AppLovin Misses Out

By Brian Freitas

  • There are 2 changes for the S&P 500 INDEX, 2 changes for the S&P Midcap400 Index and 6 changes for the S&P SmallCap600 Index at the December rebalance.
  • Apollo Global and Workday will have large flows from S&P 500 INDEX trackers while AppLovin misses out. The SPX adds will have large inflows from the Select Sector index trackers too.
  • The outright adds are up a lot in the after-hours and there could be further upside over the next couple of weeks as positioning ramps up.

Flow Dynamics from NPS Exercising Appraisal Rights on Doosan Merger

By Sanghyun Park

  • If stocks close above the appraisal prices on the 10th, NPS will support the merger; otherwise, they’ll abstain to secure their appraisal rights.
  • Due to cancellation risk hitting the ceiling, NPS will likely exercise half its position and start buybacks after the results.
  • With both stocks heavily weighted in KOSPI 200, NPS is likely to opt for a tight buyback window, boosting chances for upward price action on Doosan’s shares in that period.

Sanrio (8136 JP) Placement: Price Likely Determined Today; What Next?

By Brian Freitas

  • The Sanrio (8136 JP) placement is likely to be priced today. With the stock 8.8% lower from undisturbed, expect a small discount to today’s close.
  • The stock has traded as expected over the last 9 trading days – a sharp drop followed by a strong upward move and then profit taking.
  • We expect there will be strong interest in the placement and oversubscription could lead to upside from here. Shorts have increased and will look to cover into the placement.

CNBM (3323 HK)’s Buyback Ups Parent’s Stake >50%

By David Blennerhassett

S&P500 Dec24 Rebalance: APO and WDAY IN; QRVO and AMTM Demoted

By Travis Lundy

EQD | Nikkei Index Options Weekly – Dec 02 – 06

By John Ley

  • Price action has been mired in a sideways range since hitting these levels in Feb 2024.  Implied’s have come full circle and are at the same levels they were in Feb.
  • Option volumes over the past week look to be playing for a break above the sideways range of the last two months or a break below it.
  • Skew is very steep with heavy Put volumes and open interest at levels under the current range.

Shanghai Fosun Pharmaceutical (2196.HK) – Performance Pain Points and Henlius’ Privatization Outlook

By Xinyao (Criss) Wang

  • Fosun Pharma is just “a platform” and its performance mainly relies on the contributions of subsidiaries. However, such investment-driven business model has led to the current performance difficulties.
  • Although the motivation/underlying logic for Fosun Pharma to privatize Henlius are solid, we don’t know how this privatization ranks in terms of strategic significance of capital operations within Fosun’s system.
  • If, for example, Fosun Pharma finds more important acquisitions/capital expenditures, the priority of Henlius’ privatization could fall. So, we think if it takes too long, there may be more uncertainties.

EQD | Hong Kong Single Stock Options Weekly Dec 02 – 06

By John Ley

  • Strong price action across the market this week coupled with implied vols having caught down to historic vols has put a floor on implied vols.
  • Tencent sees strong call buying in December 410 and 420 Calls with month end 400 strike Put buying for December and January.
  • Cathay Pacific, +21% over past 3 weeks, HSBC, at 52-week high plus up 38% on the year and BABA, down 21% from Oct 02 high all active names.

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Dec 10
0

Daily Brief Equity Bottom-Up: China Consumption Weekly (9 Dec 2024): BYD and more

By | Daily Briefs, Equity Bottom-Up

In today’s briefing:

  • China Consumption Weekly (9 Dec 2024): BYD, Geely, Li Auto, Seres, Xiaomi, Arawana
  • Intel Ex-CEO Calls For 24 Hours Of Prayer & Fasting For Intel’s Remaining 100k Employees
  • Trent Ltd (TRENT IN) | LGD Can Be the Next Catalyst
  • Sarimelati Kencana PT (PZZA IJ) – Emerging from the Oven
  • JAKK: Cautiously Optimistic in an Uncertain World; Reiterate Buy, $40 PT
  • ASKA Pharmaceutical (4886) | Healthy Returns
  • Tech Supply Chain Tracker (10-Dec-2024): LGES buys GM’s plant post-Trump win.
  • What’s New(s) in Amsterdam – 9 December (ASM International | ASML Holding | BE Semiconductor Industries | Black Friday/Sinterklaas update)
  • Dream International (1126 HK): Updates Postcard From Hong Kong
  • Quadrise – Pathway to marine revenues and scale-up

China Consumption Weekly (9 Dec 2024): BYD, Geely, Li Auto, Seres, Xiaomi, Arawana

By Ming Lu

  • BYD’s deliveries grew by 68% YoY in November 2024, which provides a positive signal for the whole NEV (New Energy Vehicle) industry.
  • In November, Seres’ sales volume increased by 27% YoY with NEV up by 55% YoY.
  • Arawana, the top cooking oil producer, finished acquiring 11% of Lihua’s stock.

Intel Ex-CEO Calls For 24 Hours Of Prayer & Fasting For Intel’s Remaining 100k Employees

By William Keating

  • Pat Gelsinger took to X to invite us to join him in 24 hours of “praying and fasting” for Intel’s 100k employees to help them navigate “this difficult period”
  • This is an unprecedented move never before seen in the semiconductor world, albeit we suspect that IBM may have dabbled in something similar to resurrect their 2nm process prowess
  • This coming Thursday is the proposed date. Don’t expect miracles, this could take until the following Monday for the full impact to manifest itself in terms of share price appreciation

Trent Ltd (TRENT IN) | LGD Can Be the Next Catalyst

By Pranav Bhavsar

  • Trent Ltd (TRENT IN) is best positioned to capitalize on the growing market for lab-grown diamonds (LGD) and alter its business growth trajectory.
  • LGD disruptions seen in other markets are unlikely to be seen in India due to the positioning of Jewellery in Household asset allocation. 
  • We also believe that Trent Ltd (TRENT IN)  LGD potential is underrated while the impact on Titan Co Ltd (TTAN IN)  is overrated.

Sarimelati Kencana PT (PZZA IJ) – Emerging from the Oven

By Angus Mackintosh

  • Sarimelati Kencana PT (PZZA IJ) has been hard hit over the last year by the impact of the boycott due to a perception of its Israel exposure. 
  • The company has focused on reducing its cost base over the past year and continued to build its higher-end Ristorante format, with the boycott impact lessening since June 2024.
  • PZZA management maintains that it can hit profitability in 4Q2024, with this momentum continuing into 2025, with a target to increase its new formats helping to drive recovery. 

JAKK: Cautiously Optimistic in an Uncertain World; Reiterate Buy, $40 PT

By Small Cap Consumer Research

  • We are reiterating our Buy rating, $40 price target and projections for JAKKS Pacific after meeting with company management.
  • We believe, with easy 1H2025 comparisons, the initial strength of the Moana 2 premiere, a continued focus on key emerging growth drivers (international, ABG collaboration) and basic blocking and tackling, JAKKS is well positioned to continue to drive upside.
  • Further, with the company debt free and registering material free cash flow, there remains opportunities to return capital to investors.

ASKA Pharmaceutical (4886) | Healthy Returns

By Mark Chadwick

  • ASKA Pharmaceutical Holdings represents an attractive investment opportunity with substantial upside potential
  • The company combines solid growth, strong profitability, and clear avenues for shareholder value enhancement.
  • With Nippon Active Value’s increasing involvement and the stock trading at deeply discounted valuations, ASKA is well-positioned for a re-rating.

Tech Supply Chain Tracker (10-Dec-2024): LGES buys GM’s plant post-Trump win.

By Tech Supply Chain Tracker

  • LGES takes over GM battery plant in response to Trump’s win, expanding its presence in the US market.
  • India establishes a sovereign AI ecosystem, driving ambitions forward for technological advancements in the country.
  • Samsung’s One UI 7 Beta introduces AI enhancements and improved security features in anticipation of the Galaxy S25 release.

What’s New(s) in Amsterdam – 9 December (ASM International | ASML Holding | BE Semiconductor Industries | Black Friday/Sinterklaas update)

By The IDEA!

  • In this edition: • ASM International / ASML Holding / BE Semiconductor Industries | brightened outlook for semiconductor equipment sales • Black Friday/Sinterklaas update | fewer debit card payments during Sinterklaas week

Dream International (1126 HK): Updates Postcard From Hong Kong

By Sameer Taneja

  • We met with the management of Dream International (1126 HK) on our trip to Hong Kong and summarize our major takeaways. 
  • The Plush Toy segment continues to experience growth driven by Disney revenues, but the Plastic Toys segment continues to be plagued by destocking. 
  • Despite a 15% YoY earnings decline on our numbers, the stock trades at 5x FY24 PE with an 11.0% dividend yield and 40% of the market cap in net cash. 

Quadrise – Pathway to marine revenues and scale-up

By Edison Investment Research

Quadrise has made a significant step towards commercialisation, through which its innovative emulsion fuel technology will contribute to the decarbonisation of the marine sector. The company announced that it has signed a Collaboration and Operational Trial Agreement (the project agreement) with MSC Shipmanagement and Cargill, paving the way for the highly anticipated vessel trials on board the MSC Leandra. The market recognised the significance of this agreement, with Quadrise’s stock price rallying by approximately 50% on the day of the announcement.

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Dec 10
0

Daily Brief Macro: Here is what we told Hedge Funds this week – and how we’re trading it! and more

By | Daily Briefs, Macro

In today’s briefing:

  • Here is what we told Hedge Funds this week – and how we’re trading it!
  • Steno Signals #175 – 4 asymmetrical cases for Santa Powell
  • Farmers Pull Off A Price Hike In India Amid Favorable External Trend
  • China/US: Trading Blows Part 2
  • The Week That Was in ASEAN@Smartkarma – MrDIY Indonesia Versus ACES, PZZA, and Singapore Post.

Here is what we told Hedge Funds this week – and how we’re trading it!

By Andreas Steno

  • Happy Friday! Every week, we dive deep into macro trends, analyze asset movements, and uncover the best value plays in the world of macro.
  • These insights are shared with hedge funds and institutional clients, and each Friday, we’re bringing them directly to you.
  • While the macro landscape can be complex, we believe it doesn’t have to be intimidating.

Steno Signals #175 – 4 asymmetrical cases for Santa Powell

By Andreas Steno

  • Happy Sunday, everyone, and welcome to my weekly editorial on everything tradable in macro! I was confident heading into last week that the U.S. data releases would bring bond yields lower, and both ISM numbers and NFP aligned with our views.
  • The NFP report was much weaker than it appeared, with the median duration of unemployment ticking up—a clear symptom of a low-hiring, low-firing labor market with little momentum for those who lost jobs in recent quarters to find new opportunities.
  • Monthly job creation of around 225k is obviously decent, but this figure is skewed by employees returning from strikes and a lack of substantial positive revisions to the abysmal job creation in October.

Farmers Pull Off A Price Hike In India Amid Favorable External Trend

By Vinod Nedumudy

  • NR prices stage a comeback but then undergo correction
  • Rubber Board convenes series of producer meets to tackle challenges
  • Rubber Board proposes a fee to issue NOC to import NR

China/US: Trading Blows Part 2

By Alastair Newton

  • Xi Jinping is likely to respond to escalating trade tensions with the US by accelerating the shift from global globalisation to multi-polarisation.
  • This shift will require investors to adapt their global perspective and strategies.
  • Therefore, the ongoing trade tensions could have significant implications for global investment approaches.

The Week That Was in ASEAN@Smartkarma – MrDIY Indonesia Versus ACES, PZZA, and Singapore Post.

By Angus Mackintosh

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Dec 10
0

Daily Brief Australia: Fluence Corp and more

By | Australia, Daily Briefs

In today’s briefing:

  • Fluence Corp Ltd – Material project gets the green light

Fluence Corp Ltd – Material project gets the green light

By Research as a Service (RaaS)

  • RaaS has published a flash comment on environmental services company Fluence Corporation (ASX:FLC) following its recent announcement it has received the notice to proceed from ONEP, The Ivory Coast National Drinking Water Organisation, in respect to the €48.4m addendum to its contract to construct the 150,000 m3/day Lagube D’Aghien Water Treatment Plant.
  • This is a critical step in the progress of the previously delayed IVC project.
  • The project delay was the main driver behind the recent company downgrade, so its progress is a material positive.

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Dec 10
0

Daily Brief South Korea: Doosan Robotics , Doosan Enerbility and more

By | Daily Briefs, South Korea

In today’s briefing:

  • Flow Dynamics from NPS Exercising Appraisal Rights on Doosan Merger
  • Doosan Group Is Likely To Cancel Its Restructuring Plans

Flow Dynamics from NPS Exercising Appraisal Rights on Doosan Merger

By Sanghyun Park

  • If stocks close above the appraisal prices on the 10th, NPS will support the merger; otherwise, they’ll abstain to secure their appraisal rights.
  • Due to cancellation risk hitting the ceiling, NPS will likely exercise half its position and start buybacks after the results.
  • With both stocks heavily weighted in KOSPI 200, NPS is likely to opt for a tight buyback window, boosting chances for upward price action on Doosan’s shares in that period.

Doosan Group Is Likely To Cancel Its Restructuring Plans

By Douglas Kim

  • In the next several days, it is likely that the Doosan Group is likely to cancel its restructuring plan involving Doosan Enerbility, Doosan Bobcat, and Doosan Robotics.
  • As a result of the sharp decline in share prices of major Doosan Group companies, the cost of appraisal rights may be too much for the Doosan Group.
  • Despite the negative impact of recent political events in Korea, a cancellation of  Doosan Group restructuring plan could have a near-term positive impact on all the major Doosan Group companies.

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Dec 10
0

Daily Brief Singapore: SGX Rubber Future TSR20, Marco Polo Marine and more

By | Daily Briefs, Singapore

In today’s briefing:

  • Farmers Pull Off A Price Hike In India Amid Favorable External Trend
  • Marco Polo Marine Directors Boost Shareholding

Farmers Pull Off A Price Hike In India Amid Favorable External Trend

By Vinod Nedumudy

  • NR prices stage a comeback but then undergo correction
  • Rubber Board convenes series of producer meets to tackle challenges
  • Rubber Board proposes a fee to issue NOC to import NR

Marco Polo Marine Directors Boost Shareholding

By Geoff Howie

  • Over the five trading sessions from Nov 29 to Dec 5, institutions were net buyers of Singapore stocks, leading to a net institutional inflow of S$418 million.
  • Stocks that led the net institutional inflow over the five sessions until Dec 5 inclusive were DBS, Suntec Real Estate Investment Trust (Reit), Yangzijiang Shipbuilding, Sembcorp Industries, Singtel, Keppel, Thai Beverage, Seatrium, Jardine Matheson, and Singapore Airlines.
  • Union Steel ranks among the 250 most-traded stocks this year, and among the 150 stocks that booked the highest net institutional inflow.

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Dec 10
0

Daily Brief Indonesia: Sarimelati Kencana PT and more

By | Daily Briefs, Indonesia

In today’s briefing:

  • Sarimelati Kencana PT (PZZA IJ) – Emerging from the Oven

Sarimelati Kencana PT (PZZA IJ) – Emerging from the Oven

By Angus Mackintosh

  • Sarimelati Kencana PT (PZZA IJ) has been hard hit over the last year by the impact of the boycott due to a perception of its Israel exposure. 
  • The company has focused on reducing its cost base over the past year and continued to build its higher-end Ristorante format, with the boycott impact lessening since June 2024.
  • PZZA management maintains that it can hit profitability in 4Q2024, with this momentum continuing into 2025, with a target to increase its new formats helping to drive recovery. 

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Dec 10
0

Daily Brief India: Vishal Mega Mart, LG Electronics India, Trent Ltd, SGX Rubber Future TSR20, Crompton Greaves and more

By | Daily Briefs, India

In today’s briefing:

  • Vishal Mega Mart IPO – Showcasing the Wrong Peers, Somewhat Limited Upside
  • LG Electronics India IPO Preview
  • Trent Ltd (TRENT IN) | LGD Can Be the Next Catalyst
  • Farmers Pull Off A Price Hike In India Amid Favorable External Trend
  • LG Electronics India Pre-IPO Tearsheet
  • AMFI Stock Reclassification Preview (Dec 2024): Recent Large IPOs Lead to Big Downward Shift

Vishal Mega Mart IPO – Showcasing the Wrong Peers, Somewhat Limited Upside

By Sumeet Singh

  • Vishal Mega Mart is planning to raise around US$950m through its upcoming IPO in India.
  • Vishal Mega Mart Limited (VMM), is a one-stop retail destination. As per the company it targets middle and lower-middle income consumers across India
  • We have looked at the company’s past performance in our previous notes. In this note, we will talk about the IPO valuations.

LG Electronics India IPO Preview

By Douglas Kim

  • LG Electronics India is getting ready to complete an IPO in India in the next several months. The IPO offering size is expected to be about US$1.8 billion.
  • LG Electronics (066570 KS) plans to sell 101.8 million shares, accounting for about 15% of the post-offer paid up equity capital shares of LG Electronics India.
  • If LGEI is valued at US$13 billion, then an 85% of this stake would be worth US$11.1 billion, which would be worth more than LG Electronics’s own market cap. 

Trent Ltd (TRENT IN) | LGD Can Be the Next Catalyst

By Pranav Bhavsar

  • Trent Ltd (TRENT IN) is best positioned to capitalize on the growing market for lab-grown diamonds (LGD) and alter its business growth trajectory.
  • LGD disruptions seen in other markets are unlikely to be seen in India due to the positioning of Jewellery in Household asset allocation. 
  • We also believe that Trent Ltd (TRENT IN)  LGD potential is underrated while the impact on Titan Co Ltd (TTAN IN)  is overrated.

Farmers Pull Off A Price Hike In India Amid Favorable External Trend

By Vinod Nedumudy

  • NR prices stage a comeback but then undergo correction
  • Rubber Board convenes series of producer meets to tackle challenges
  • Rubber Board proposes a fee to issue NOC to import NR

LG Electronics India Pre-IPO Tearsheet

By Sumeet Singh

  • LG Electronics (066570 KS) is looking to raise US$1.5bn+ via part-selling its stake in LG Electronics India IPO. The deal will be run by MS, JPM, Axis, BofA and Citi.
  • LG Electronics India (LGEI) was the market leader in India in major home appliances and consumer electronics (excluding mobile phones) in terms of volume in 1Q25, as per Redseer Report.
  • LGEI has been the number one player in this industry for 13 consecutive years (CY11-CY23) as per the value market share in the offline channel in India, as per Redseer.

AMFI Stock Reclassification Preview (Dec 2024): Recent Large IPOs Lead to Big Downward Shift

By Brian Freitas

  • We see 7 stocks moving from MidCap to LargeCap, 11 stocks moving from LargeCap to MidCap, 4 stocks from SmallCap to MidCap, and 11 stocks from MidCap to SmallCap.
  • From the new listings, 4 stocks are expected to be added to Large Cap, 3 stocks to Mid Cap, and multiple stocks to Small Cap.
  • There are multiple stocks among the AMFI changes that will be changes for the NSE Nifty Next 50 Index (NIFTYJR INDEX) and/or Nifty Midcap 150 Index in March.

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