Daily Brief Equity Bottom-Up: Shortlist Of High Conviction Ideas Across China and more

• We compile our selection of companies across Japan, China and India based on bottom-up triggers in each company. 
• Top-Picks in China are Haier Smart Home (6690 HK),Midea Group (300 HK) & Yadea Group Holdings (1585 HK). In Japan its Suzuki Motor (7269 JP),ROHM Co Ltd (6963 JP)&Aisin (7259 JP).
• In Indian auto it is Mahindra & Mahindra (MM IN) & Ashok Leyland (AL IN).We also like the recently listed ICICI Prudential AMC (570643Z IN).

• Largest PepsiCo bottler outside North America with an India-led but fast-diversifying footprint.
• Balance sheet reset completed via Rs. 75 bn QIP; company declared net-debt-free at Dec-24.
• CSD-Heavy mix remains, but portfolio is skewing “ better-for-you. ”

• India led volume stability, improving deliveries, and captive raw materials position Tata Steel to convert the 2026 steel upcycle into earnings leverage.
• EU policy tightening and CBAM-linked barriers improve Netherlands pricing power, supporting a European turnaround despite continued structural drag from the UK.
• Attractive valuation metrics, low PEG, manageable leverage, and sector outperformance make Tata Steel a high-conviction risk-adjusted play for 2026.

• FactSet Research Systems Inc. reported its first-quarter results for fiscal 2026, highlighting some key financial and operational metrics.
• The company demonstrated positive momentum with strong growth in Annual Subscription Value (ASV), along with healthy operating margins.
• However, there were some notable challenges across regions and firm types which provide a comprehensive view of the company’s current situation.

• Sterling Anderson’s journey from clashing with Elon Musk to reshaping General Motors may be one of the most unexpected executive arcs in recent auto industry history.
• Once a Tesla Autopilot leader and co-founder of the autonomous trucking company Aurora, Anderson joined GM in June 2025 as Chief Product Officer.
• What seemed like a puzzling career move at the time has since evolved into one of the most intriguing leadership shifts in the industry.

• We update the expansion plans of all listed companies under our coverage one by one to capture the extent of the copper supply shortages the world will experience. 
• These listed companies account for ~40% of the global supply, providing a robust sample for analyzing current supply issues, as copper is set to exceed USD 12,000/ton. 
• We like copper names with a solid supply story and low on the cost curve, like Southern Copper (SCCO US) and Antofagasta PLC (ANTO LN) 

• Nameson Holdings is a leading Hong Kong-based knitwear manufacturer with a primary focus on producing sweaters and other knitted apparel for major international brands, most notably Uniqlo.
• The company presents a compelling investment case for income-oriented investors due to its consistently high dividend yield and a commitment to a high payout ratio, supported by resilient profitability and an improving balance sheet.
• Key risks and limitations to growth include a high dependency on its largest customers, exposure to the cyclicality of the apparel industry, flat top-line revenue growth, and volatility in raw material prices.

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• Accenture’s recent earnings call for the first fiscal quarter of 2026 highlights a mix of growth opportunities and challenges.
• The company reported revenues of $18.7 billion, representing a 5% increase in local currency, which aligns with the top of its guided range.
• This growth was broad-based across geographic markets and types of work, with consulting revenues at $9.4 billion and managed services revenues at $9.3 billion.

• LICHF’s asset quality has improved considerably with Stage 3 assets now at 2.51% vs 2.62% QoQ and 3.06% YoY. Recoveries have been also meaningful and are likely to contribute further. 
• NIM declined to 2.62% vs 2.68% QoQ due to repricing of back book per the 25bp PLR cut. NIM is set to expand as borrowing costs come down.
• While growth has been below par due to intense competition from PSU banks; adjusted for balance transfer, it has been decent. Furthermore, H2FY26 tends to be seasonally better.

• Micron Technology’s recent earnings call for the fiscal first quarter of 2026 highlighted several key points that investors should consider.
• The company’s performance showcases both opportunities and challenges across various segments of their business.
• A neutral analysis of their results offers insights into their strategic positioning and future outlook.