Category

Daily Briefs

Jun 09
0

Daily Brief TMT/Internet: Taiwan Semiconductor (TSMC) – ADR and more

By | Daily Briefs, TMT/Internet

In today’s briefing:

  • Taiwan Dual-Listings Monitor: TSMC Premium Break Out Is at Historically High End of Range

Taiwan Dual-Listings Monitor: TSMC Premium Break Out Is at Historically High End of Range

By Vincent Fernando, CFA

  • TSMC: +23.4% Premium; Consider Shorting ADR Spread at Current Level
  • UMC: 1.5% Premium; Wait for More Extreme Premium Before Going Short the Spread
  • ASE: +4.4% Premium; Wait for Higher Premium Before Going Short

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Jun 09
0

Daily Brief Energy/Materials: Ecopro Co Ltd, Shyam Metalics and Energy and more

By | Daily Briefs, Energy & Materials Sector

In today’s briefing:

  • Clarifying the KOSDAQ Global Index and SSF Reshuffle
  • Shyam Metalics & Energy Ltd (NSE: SHYAMMETL) – A Capital-Efficient Growth Play in Indian Metals

Clarifying the KOSDAQ Global Index and SSF Reshuffle

By Sanghyun Park

  • KOSDAQ Global rebalances annually in June with unique, fundamentals-based screening, unlike cap-weighted peers. Its results are now a key lead indicator for upcoming SSF inclusion.
  • New SSF listings often trigger short-term volume spikes, especially in KOSDAQ names, leading to consistent spot outperformance from listing to expiry—most pronounced near the midpoint.
  • With more traders now tuned into the SSF pattern and fewer names rotating, early positioning and amplified price action are more likely this time around.

Shyam Metalics & Energy Ltd (NSE: SHYAMMETL) – A Capital-Efficient Growth Play in Indian Metals

By Rahul Jain

  • Shyam Metalics reported robust FY25 results with 15% revenue growth and 21% EBITDA rise, driven by higher volumes and a shift toward value-added products.
  • The company is executing a ₹10,025 Cr capex plan to double capacity by FY27, targeting high-margin segments like stainless steel and aluminium foil with backward integration.
  • With zero net debt, strong cash flows, and a forward P/E of ~14×, Shyam Metalics offers a rare blend of growth, capital discipline, and low leverage in the steel sector.

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Jun 09
0

Daily Brief Consumer: Aurora World, Fuji Corp, Toyota Industries, Tam Jai International, TSE Tokyo Price Index TOPIX, Bajaj Auto Ltd, Zhou Liu Fu Jewellery Co., Ltd. and more

By | Consumer, Daily Briefs

In today’s briefing:

  • Curator’s Cut: The Next Labubu, Crypto Equities and Tracking APAC Buybacks
  • [Japan M&A] Private Co Takeout of Fuji Corp (7605 JP) – A Done Deal
  • Fuji Corp (7605 JP): Usami Koyu’s JPY2,830 Tender Offer Is Light but Done
  • Weekly Deals Digest (08 Jun) – Toyota Industries, Makino, Fuji Corp, Tam Jai, PointsBet, Mayne
  • Tam Jai Intl (2217 HK): Privatisation Stays Appealing Despite…
  • A Reluctance to Confront Shareholders Is at the Root of Many Problems
  • KTM Saga, Short Bajaj Auto – There’s a Lot to Chew On
  • Zhou Liu Fu Pre-IPO: Business Is Deteriorating Despite Rosy Gold Prices

Curator’s Cut: The Next Labubu, Crypto Equities and Tracking APAC Buybacks

By Pranav Rao

  • Welcome to Curator’s Cut, a fortnightly roundup of standout themes from the 1,200+ insights published over the past two weeks on Smartkarma
  • In this cut, we look at an Asian toy manufacturer not named Pop Mart or Dream Int’l, the mashup between crypto and equity markets and the takeaways from tracking buybacks
  • Want to dig deeper? Comment or message on the themes you think should be highlighted next

[Japan M&A] Private Co Takeout of Fuji Corp (7605 JP) – A Done Deal

By Travis Lundy

  • The long-term major owner now chairman is getting out. The company was shopped. And bought. And this is the deal. ¥2,830 which is about 5.7x this year’s EBITDA.
  • It could have been done a bit better, but irrevocables are 48.5% out of the 50.01% minimum and other directors get this past the minimum hurdle. 
  • Transparency is lacking but it is an all-time high and you can’t do much about it.

Fuji Corp (7605 JP): Usami Koyu’s JPY2,830 Tender Offer Is Light but Done

By Arun George

  • Fuji Corp (7605 JP) has recommended a tender offer from Usami Koyu at JPY2,830, a 32.2% premium to the last close price.
  • Unusually for a Board recommended offer, the lower limit will not achieve a 66.67% ownership ratio. Based on past EGM voting ratios, it is set at a 50.01% ownership ratio.
  • While the offer represents an all-time high, it is below the midpoint of the IFA DCF valuation range. However, due to irrevocables, this is a done deal.

Weekly Deals Digest (08 Jun) – Toyota Industries, Makino, Fuji Corp, Tam Jai, PointsBet, Mayne

By Arun George

Tam Jai Intl (2217 HK): Privatisation Stays Appealing Despite…

By Osbert Tang, CFA

  • Despite some disgruntled investors, the privatisation of Tam Jai International (2217 HK) is appealing. If it is successful, payment will be made on or before 26 Aug. 
  • The proposed price of HK$1.58 equals a 24% premium to the peer CY25F PER. The poor reported peer results and earnings downgrades are the reasons for a narrower premium.
  • Since the announcement of privatisation, the sector has retreated by 7.8%, vs. a 5.2% gain in HSI, reflecting the industry’s tough operating environment. It remains wise to exit. 

A Reluctance to Confront Shareholders Is at the Root of Many Problems

By Aki Matsumoto

  • Until now, listed companies have been reluctant to even lower the minimum shareholder purchase amount for reasons of economic rationality and administrative costs.
  • The same issues underlie reluctance of companies in lowering amount to purchase shares, online AGMs, electronic delivery of text in notice of convocations, and pre-AGM disclosure of annual securities reports.
  • Companies have been focused on controlling AGM rather than facing shareholders to increase their interests. This practice is problem that can lead to slower ROE and excessive cash on hand.

KTM Saga, Short Bajaj Auto – There’s a Lot to Chew On

By Sreemant Dudhoria

  • We cover the multiple factors which led to the operational and financial mess at Pierer Mobility AG, the holding company of KTM.
  • This insight highlights the past not so great track record of Indian companies acquiring European businesses due to cultural, operational integration and higher restructuring costs.
  • Bajaj Auto Ltd (BJAUT IN) remains strong domestically, but KTM’s losses, debt, and integration hurdles risk compressing margins and return ratios at the consolidated level. We recommend Shorting Bajaj Auto.

Zhou Liu Fu Pre-IPO: Business Is Deteriorating Despite Rosy Gold Prices

By Nicholas Tan

  • Zhou Liu Fu Jewellery Co., Ltd. (1716396D CH) is looking to raise $US200m in its upcoming Hong Kong IPO. 
  • It is a leading and fast growing jewellery franchise in China offering a diverse range of products through offline and online sales channels.
  • In this note, we provide updates on the firm’s past performance.

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Jun 09
0

Daily Brief Industrials: Yang Ming Marine Transport, Mazagon Dock Shipbuilders , Zhejiang Sanhua Intellignt Controls Co., Ltd., Berli Jucker, Bharat Dynamics Ltd, HD Hyundai Mipo, Fortive and more

By | Daily Briefs, Industrials

In today’s briefing:

  • Yuanta/​P-Shares Taiwan Div+ ETF Rebalance: Huge Turnover & Flow Overlap
  • NIFTY200 Momentum30 Index Rebalance: HUGE Turnover and Trade as Financials Shine
  • Sanhua Intelligent Controls H Share Listing: The Investment Case
  • Berli Jucker (BJC TB) – Packaged Consumerism
  • BDL IN – Bharat Dynamics: Missile Systems Specialist Strengthening India’s Defence Edge
  • Friday’s Cap Reversion in the SOL Shipbuilding Top 3 ETF Sets up a Clean Flow Trade Opportunity
  • ECM Weekly (9 June 2025) – Haitian, Sanhua, Virgin Aus, Primo, Kitazato, Wistron, Kelun Bio, Mao Gep
  • Weekly Update (MEDXF, IDT, FTV)

Yuanta/​P-Shares Taiwan Div+ ETF Rebalance: Huge Turnover & Flow Overlap

By Brian Freitas

  • There are 5 adds and 5 deletes for the Yuanta/​P-Shares Taiwan Dividend Plus ETF in June with implementation starting on 20 June and ending on 26 June.
  • Estimated one-way turnover is 17.7% resulting in a round-trip trade of TWD 158bn (US$5.3bn). There are 10 stocks with over 5 days of ADV to trade.
  • There are a few stocks that have same-way or opposing flows from other index trackers over the next couple of weeks and those stocks could outperform/underperform their peers.

NIFTY200 Momentum30 Index Rebalance: HUGE Turnover and Trade as Financials Shine

By Brian Freitas

  • There are 20 changes a side for the Nifty200 Momentum30 Index that will be implemented at the close on 27 June. We had correctly forecast 39 of the 40 changes.
  • Estimated one-way turnover is 68.4% resulting in a round-trip trade of INR 160bn (US$1.9bn). There are 22 stocks with over 1x ADV to trade.
  • The Financials sector has 9 net inclusions to the index while the Information Technology and Consumer Discretionary sectors have 2 net deletions each.

Sanhua Intelligent Controls H Share Listing: The Investment Case

By Arun George

  • Zhejiang Sanhua Intellignt Controls Co., Ltd. (002050 CH), the world’s largest refrigeration and air-conditioning control component manufacturer, has filed its PHIP for a H Share listing to raise US$1.0-1.5 billion.     
  • Sanhua’s market share in the global refrigeration and air-conditioning control component market was 45.5% in terms of revenue in 2024, according to Frost & Sullivan.
  • The fundamentals are good, with the positives (refrigeration and aircon rising growth, stable margin, and cash generation) outweighing the negatives (automotive declining growth, US tariffs overhang). 

Berli Jucker (BJC TB) – Packaged Consumerism

By Angus Mackintosh

  • Berli Jucker (BJC TB) remains one of the most interesting consumer plays in Thailand through Big C, glass and aluminium cans, and its consumer supply chain segment. 
  • The company booked a strong start to 2025 across all segments from a profit growth perspective, with package sales being impacted by lower raw material prices, but that improved margins.
  • 2Q has seen a slower start due to poor weather, slower tourism, partly due to the earthquake, but May has seen a turnaround, and management is confident in annual guidance

BDL IN – Bharat Dynamics: Missile Systems Specialist Strengthening India’s Defence Edge

By Rahul Jain

  • BDL reported strong FY25 revenue of ₹3,345 Cr and PAT of ₹550 Cr, though EBITDA margins declined to 24.6% from earlier highs.
  • With a ₹22,700 Cr order book, BDL is expanding via new plants in Jhansi, Amravati, and Ibrahimpatnam backed by ₹600+ Cr capex.
  • At 100x PE and 75xPE FY27e valuations appear stretched, leaving limited margin of safety despite strong execution and order visibility.

Friday’s Cap Reversion in the SOL Shipbuilding Top 3 ETF Sets up a Clean Flow Trade Opportunity

By Sanghyun Park

  • Top 3 stays unchanged — HD KSOE beats HHI on consolidated sales, and index rules push HHI to the Plus side since a group sibling’s already in the Top 3.
  • Plus Universe also looks stable, but HD Hyundai Mipo’s weight drops from 14.12% to 10% Friday — triggering ~₩40B in passive outflows, a key flow trade setup.
  • ₩40B sell vs. ₩60–90B daily turnover, all hitting via one ETF desk (Shinhan SOL) Friday afternoon — flow size could move the tape. Should keep it on our radar.

ECM Weekly (9 June 2025) – Haitian, Sanhua, Virgin Aus, Primo, Kitazato, Wistron, Kelun Bio, Mao Gep

By Sumeet Singh

Weekly Update (MEDXF, IDT, FTV)

By Richard Howe

  • Fortive (FTV) will spin off 100% of Ralliant on June 28, 2025.

  • Ralliant will trade under the ticker RAL. When issued trading will begin on June 25th. Ralliant will host an investor day on June 10, 2025.

  • Ralliant (Precision Technologies) will be a $2.2B revenue company (2024) focused on Test & Measurement and Sensors & Safety Systems.

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Jun 09
0

Daily Brief Financials: Bank Of Baroda, Cantor Equity Partners I, Chime Financial and more

By | Daily Briefs, Financials

In today’s briefing:

  • Indian Banks: Adding Canara and UBI to the Buy List, Dropping Bandhan and PNB
  • SSI Newsletter: New Portfolio Ideas, Guest Pitches, and Key Updates
  • Chime Financial (CHYM US): Delayed Inclusion to US & Global Indices

Indian Banks: Adding Canara and UBI to the Buy List, Dropping Bandhan and PNB

By Victor Galliano

  • Our proprietary scorecard applies a series of metrics related to valuation, returns, capital adequacy, funding, liquidity and credit quality to generate rankings in an investment valuation scorecard
  • Driven by the scorecard results, we keep Baroda on the buy list adding Canara and UBI, with the latter two replacing Bandhan and PNB previously on the buy list
  • We remove Kotak Mahindra from the sell list; IndusInd ranks bottom on the scorecard, but we feel that a lot of bad news is now discounted, limiting further downside risk

SSI Newsletter: New Portfolio Ideas, Guest Pitches, and Key Updates

By Special Situation Investments

  • New portfolio ideas include Lutnick’s SPACs CEPO/CEPT with potential multibagger upside and MYX:AX’s merger arb with Cosette Pharmaceuticals.
  • Guest pitches highlight potential takeover of Webjet Group, Naturgy’s odd-lot tender offer, and Assura’s bidding war interest.
  • Updates cover LWAY’s board overhaul, LQDA’s patent lawsuit denial, RTACU’s unit separation, NZM’s strategic review, OCFT’s document delay, and PAC’s short report on ABL.

Chime Financial (CHYM US): Delayed Inclusion to US & Global Indices

By Dimitris Ioannidis

  • Chime Financial (CHYM US) meets public voting rights eligibility only after the 6-month lock-up expiry, leading to its delayed inclusion in Global-F SmallCap and R1000 in 2026.
  • Chime Financial (CHYM US) will be excluded from Global-M for the next 12 months due to the lock-up on undisclosed shareholders, which keeps the free float below the 15% threshold.
  • Chime Financial (CHYM US) is expected to be added to US TMI at the September 2025 review.

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Jun 08
0

Daily Brief Thematic (Sector/Industry): Japan Weekly | Geopolitics Rule as Semis Shine and Autos Stumble and more

By | Daily Briefs, Thematic (Sector/Industry)

In today’s briefing:

  • Japan Weekly | Geopolitics Rule as Semis Shine and Autos Stumble
  • APAC Healthcare Weekly (June 8)- Hansoh Pharma, Daiichi Sankyo, Takeda, Mayne Pharma, Zydus Life

Japan Weekly | Geopolitics Rule as Semis Shine and Autos Stumble

By Mark Chadwick

  • Japanese equities dipped as geopolitical tensions weighed on autos, though semiconductor stocks surged after Nvidia regained its crown as top global firm.
  • Japan’s Q1 capex jumped 6.4% amid pre-tariff investment, but weak household spending and falling real wages signaled persistent domestic demand fragility.
  • Toyota Industries fell 10% after unveiling a privatization plan priced below market expectations, raising investor governance concerns despite likely deal approval.

APAC Healthcare Weekly (June 8)- Hansoh Pharma, Daiichi Sankyo, Takeda, Mayne Pharma, Zydus Life

By Tina Banerjee

  • Hansoh Pharmaceutical stuck outlicense agreement with Regeneron Pharmaceuticals for GLP-1 drug candidate for an upfront payment of $80M. Daiichi Sankyo unveiled positive phase 3 trial result in first-line breast cancer.
  • Takeda received European approval for Adcetris as a chemotherapy regimen in Hodgkin lymphoma. Zydus Lifesciences is acquiring 5.9% stake in Agenus and commercial right for its lead candidate for India.
  • Mayne Pharma has filed a complaint in the U.S. Court against TherapeuticsMD. Cosette Pharmaceuticals indicated an intention to terminate the acquisition over “material adverse clause claims.”

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Jun 08
0

Daily Brief India: NIFTY Index, ICICI Lombard General Insurance Company, Torrent Pharmaceuticals and more

By | Daily Briefs, India

In today’s briefing:

  • India’s Unexpected 0.5% Rate Cut: Friday’s Market Reaction Breakdown
  • Nifty 50 Tactical Outlook After RBI’s Steep Rate Cut
  • ICICI Lombard (ICICIGI IN) Vs. SBI Life (SBILIFE IN): Mean Reversion Delivers Gains, Trade Exit
  • Torrent Pharmaceuticals (TRP IN): India Business Drives 11% PAT Growth in Q4; Margin Levers at Work

India’s Unexpected 0.5% Rate Cut: Friday’s Market Reaction Breakdown

By Gaudenz Schneider

  • Context: On June 6, 2025, the Reserve Bank of India (RBI) unexpectedly cut interest rates by 50 basis points to 5.5%, double the anticipated 25 basis points.
  • The NIFTY 50 Index fluctuated initially but later stabilized at a 1.0% gain, while the NSE Nifty Bank Index rose 1.5%. At-the-money implied volatility changed little, while the skew rotated.
  • This Insight explains the RBI’s bold policy move, market reactions, and limitations of predictive models in navigating central bank decisions.

Nifty 50 Tactical Outlook After RBI’s Steep Rate Cut

By Nico Rosti

  • The NIFTY Index rallied after RBI cuts key policy rate by 50 bps to 5.50%(but RBI governor said there is limited policy space from here).
  • Inflation forecast was cut to 3.7%; GDP growth forecast retained at 6.5, but Trump’s trade tariffs and the prospect of a global economic slowdown are generating uncertainty.
  • The NIFTY was already moving up in the last 2 days and accelerated sharply on Friday. But our model signals that the index is not overbought, it can go higher.

ICICI Lombard (ICICIGI IN) Vs. SBI Life (SBILIFE IN): Mean Reversion Delivers Gains, Trade Exit

By Gaudenz Schneider

  • Context: This article provides an update on a previously identified pair trading opportunity between ICICI Lombard (ICICIGI IN) and SBI Life (SBILIFE IN), based on statistical mean reversion analysis.
  • Key Insights: The trade has now reached its exit signal as the price ratio reverted to its one-standard deviation band, yielding a +9% return.
  • Why Read It: For investors interested in quantitative trading strategies, this article demonstrates how statistical arbitrage can generate short-term alpha and highlights actionable similar opportunities in the current market.

Torrent Pharmaceuticals (TRP IN): India Business Drives 11% PAT Growth in Q4; Margin Levers at Work

By Tina Banerjee

  • Torrent Pharmaceuticals (TRP IN) reported a 11% YoY increase in net profit to INR5B on an 8% YoY growth in revenue to INR28B in Q4FY25. Domestic business drove overall performance.
  • Revenue from domestic market increased 12% YoY to INR15.5B, led by outperformance in focus therapies, aided by strong new launch performance. Torrent continued to outperform IPM.
  • The company is expanding margins by 75–100bps historically. With improving traction in U.S., double-digit growth in Brazil, and continued strong performance in India, the trend is expected to continue.

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Jun 08
0

Daily Brief ECM: China Healthcare Weekly (Jun.8)-Summit/Akeso and more

By | Daily Briefs, ECM

In today’s briefing:

  • China Healthcare Weekly (Jun.8)-Summit/Akeso, Giant Biogene’s Trouble, Views on Newtrend IPO Pricing
  • Didi Global Q125 Results | Company Should Move to List Shares While Earnings & Conditions Favorable

China Healthcare Weekly (Jun.8)-Summit/Akeso, Giant Biogene’s Trouble, Views on Newtrend IPO Pricing

By Xinyao (Criss) Wang

  • Summit’s chances of being sold have decreased significantly. Since Summit does not have enough funds to promote multiple large-scale Phase III trials, the outlook of Summit/Akeso will become increasingly passive.
  • The public statements of Zhao Yan from Bloomage have raised doubts in the market about the prospects of collagen and Giant Biogene. Below, we shared some differentiated views on this.
  • The IPO pricing of Newtrend is HK$18.9-20.9/share. We think Newtrend is overvalued considering the “price war” and oversupply issue. Reasonable valuation should be lower than Anhui Jinhe Industrial (002597 CH).

Didi Global Q125 Results | Company Should Move to List Shares While Earnings & Conditions Favorable

By Daniel Hellberg

  • Didi reported solid top-line growth, improving core margins (and OpCF) in Q125
  • Drivers of Q125 top-line growth were broad-based, but note F/X impact on International
  • We believe Didi should move to re-list shares while earnings & conditions are supportive

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Jun 08
0

Daily Brief Equity Bottom-Up: A Visit to Daiso in Seoul – A Retail Giant Crushing the Competition and more

By | Daily Briefs, Equity Bottom-Up

In today’s briefing:

  • A Visit to Daiso in Seoul – A Retail Giant Crushing the Competition
  • Intel (INTC.US): Exploring a Tough Journey. (V)
  • Snowflake’s $250M “Crunchy” Bet: How Two Smart Acquisitions Are Fueling Its AI War With Databricks!
  • Procter & Gamble (P&G)’s 7
  • Torrent Pharmaceuticals (TRP IN): India Business Drives 11% PAT Growth in Q4; Margin Levers at Work
  • Arista Networks’ $1.5B AI Jackpot: How a “Has-Been” Became Wall Street’s Newest Favorite!
  • Viking Holdings Is Quietly Becoming the Hottest Cruise Stock — Why Smart Money Thinks It’s About to Soar!
  • Bristol Myers Just Dropped $11.1 Billion on BioNTech: Is This the Pivot That Transforms Its Oncology Pipeline?
  • ICICI Lombard (ICICIGI IN) Vs. SBI Life (SBILIFE IN): Mean Reversion Delivers Gains, Trade Exit

A Visit to Daiso in Seoul – A Retail Giant Crushing the Competition

By Douglas Kim

  • I recently visited Daiso near Seoul Station. Daiso is one of the few off-line stores that has been crushing the competition in Korea in the past several years.
  • Amid continued weak economy in Korea in the past several years, Daiso has thrived through its detailed execution of focus on low priced products with highest value to consumers.
  • Able C&C (078520 KS) is a prime example a company capitalizing on the strong demand for cosmetic products at Daiso. 

Intel (INTC.US): Exploring a Tough Journey. (V)

By Patrick Liao

  • Intel Corp (INTC US) CEO Lip-Bu Tan was setting two guideline that “build the best products” and “satisfy customers.”
  • Going forward, no new product development project will be approved—nor will engineering resources be allocated—unless it can demonstrate a projected gross margin of at least 50%.
  • In the coming months, an internal tug-of-war is expected to unfold within the company—between engineers and senior executives

Snowflake’s $250M “Crunchy” Bet: How Two Smart Acquisitions Are Fueling Its AI War With Databricks!

By Baptista Research

  • Snowflake has taken a bold strategic leap in its battle for AI supremacy by acquiring Crunchy Data, a leading PostgreSQL-based database company, for approximately $250 million.
  • Coming shortly after Databricks’ $1 billion acquisition of Neon, this move signals an intensifying war for enterprise customers who want to build AI agents using their own data.
  • Crunchy Data’s roughly 100 employees are set to join Snowflake as the company integrates Crunchy into a new product offering called Snowflake Postgres.

Procter & Gamble (P&G)’s 7

By Baptista Research

  • Procter & Gamble, the global powerhouse behind brands like Tide, Pampers, and Gillette, has announced one of its most significant organizational shake-ups in recent years.
  • The company plans to cut 7,000 nonmanufacturing jobs globally—roughly 15% of its non-factory workforce—over the next two years.
  • This move is part of a broader noncore restructuring program estimated to cost between $1 billion and $1.6 billion before tax, with about 25% of that in noncash charges.

Torrent Pharmaceuticals (TRP IN): India Business Drives 11% PAT Growth in Q4; Margin Levers at Work

By Tina Banerjee

  • Torrent Pharmaceuticals (TRP IN) reported a 11% YoY increase in net profit to INR5B on an 8% YoY growth in revenue to INR28B in Q4FY25. Domestic business drove overall performance.
  • Revenue from domestic market increased 12% YoY to INR15.5B, led by outperformance in focus therapies, aided by strong new launch performance. Torrent continued to outperform IPM.
  • The company is expanding margins by 75–100bps historically. With improving traction in U.S., double-digit growth in Brazil, and continued strong performance in India, the trend is expected to continue.

Arista Networks’ $1.5B AI Jackpot: How a “Has-Been” Became Wall Street’s Newest Favorite!

By Baptista Research

  • Once considered vulnerable to competitive pressures and margin erosion, Arista Networks (NYSE: ANET) has staged a remarkable comeback that has turned heads on Wall Street.
  • After seeing its stock plunge nearly 50% earlier this year due to fears around tariffs and intensified white-box competition, Arista has bounced back with vengeance.
  • Now trading near $95, the stock has rallied on the back of a robust Q1 2025 print, confident full-year guidance, and its growing role in powering AI infrastructure for tech giants like Microsoft, Meta, and Oracle.

Viking Holdings Is Quietly Becoming the Hottest Cruise Stock — Why Smart Money Thinks It’s About to Soar!

By Baptista Research

  • Viking recently reported its first-quarter results for 2025, showcasing a solid financial and operational performance.
  • The company experienced a 7.1% increase in net yields alongside a 14.9% capacity boost compared to the previous year.
  • Total revenue reached nearly $900 million, approximately three times higher than in 2019, reflecting strong demand for Viking’s offerings and the disciplined implementation of its growth strategy.

Bristol Myers Just Dropped $11.1 Billion on BioNTech: Is This the Pivot That Transforms Its Oncology Pipeline?

By Baptista Research

  • Bristol Myers Squibb (BMS) has made headlines with its recent $11.1 billion collaboration deal with German biotech BioNTech, a strategic move that underscores the company’s aggressive pivot toward growth in oncology.
  • The centerpiece of this deal is BNT327, a PD-L1/VEGF-A bispecific antibody, which BMS sees as a next-generation immuno-oncology asset capable of reshaping the cancer treatment landscape.
  • With an upfront payment of $1.5 billion and $2 billion guaranteed through 2028, the agreement also includes a potential $7.6 billion in milestone payments.

ICICI Lombard (ICICIGI IN) Vs. SBI Life (SBILIFE IN): Mean Reversion Delivers Gains, Trade Exit

By Gaudenz Schneider

  • Context: This article provides an update on a previously identified pair trading opportunity between ICICI Lombard (ICICIGI IN) and SBI Life (SBILIFE IN), based on statistical mean reversion analysis.
  • Key Insights: The trade has now reached its exit signal as the price ratio reverted to its one-standard deviation band, yielding a +9% return.
  • Why Read It: For investors interested in quantitative trading strategies, this article demonstrates how statistical arbitrage can generate short-term alpha and highlights actionable similar opportunities in the current market.

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Jun 08
0

Daily Brief Financials: NIFTY Index, Taishin Financial Holding, ICICI Lombard General Insurance Company and more

By | Daily Briefs, Financials

In today’s briefing:

  • India’s Unexpected 0.5% Rate Cut: Friday’s Market Reaction Breakdown
  • Quiddity TDIV/50/100 Jun25 Results: 100% Hit Rate; Positioned for High-Impact Sector-Neutral Trades
  • ICICI Lombard (ICICIGI IN) Vs. SBI Life (SBILIFE IN): Mean Reversion Delivers Gains, Trade Exit

India’s Unexpected 0.5% Rate Cut: Friday’s Market Reaction Breakdown

By Gaudenz Schneider

  • Context: On June 6, 2025, the Reserve Bank of India (RBI) unexpectedly cut interest rates by 50 basis points to 5.5%, double the anticipated 25 basis points.
  • The NIFTY 50 Index fluctuated initially but later stabilized at a 1.0% gain, while the NSE Nifty Bank Index rose 1.5%. At-the-money implied volatility changed little, while the skew rotated.
  • This Insight explains the RBI’s bold policy move, market reactions, and limitations of predictive models in navigating central bank decisions.

Quiddity TDIV/50/100 Jun25 Results: 100% Hit Rate; Positioned for High-Impact Sector-Neutral Trades

By Janaghan Jeyakumar, CFA

  • The index changes for the T50/100 index family and the TDIV index were confirmed after market close on Friday 6th June 2025.
  • There will be one ADD/DEL for T50, two ADDs/DELs for T100, and five ADDs/DELs for TDIV. 
  • All of these are exactly in line with our final expectations.

ICICI Lombard (ICICIGI IN) Vs. SBI Life (SBILIFE IN): Mean Reversion Delivers Gains, Trade Exit

By Gaudenz Schneider

  • Context: This article provides an update on a previously identified pair trading opportunity between ICICI Lombard (ICICIGI IN) and SBI Life (SBILIFE IN), based on statistical mean reversion analysis.
  • Key Insights: The trade has now reached its exit signal as the price ratio reverted to its one-standard deviation band, yielding a +9% return.
  • Why Read It: For investors interested in quantitative trading strategies, this article demonstrates how statistical arbitrage can generate short-term alpha and highlights actionable similar opportunities in the current market.

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