In today’s briefing:
- Bharti Airtel Block – Another Singtel Selldown Worth US$1bn
- Zinka Logistics IPO Lockup – US$530m Lockup Release; PE Investors Might Look to Book Gains
- Tata Motors Q4 & FY25 Update: Strong Financial Performance with Focus on EV Growth
- Can the India’s Largest Motorcycle Manufacturer Maintain Its Dominance?
- Lucror Analytics – Morning Views Asia
- Tata Steel – Earnings Flash – FY 2024-25 Results – Lucror Analytics
Bharti Airtel Block – Another Singtel Selldown Worth US$1bn
- Pastel Ltd, a subsidiary of Singapore Telecommunications (Singtel) is looking to raise up to US$1bn via selling a 0.8% stake in Bharti Airtel Limited.
- Singtel had sold a 0.8% stake (US$950m then) to GQG Partners in Mar 2024. Singtel had a total stake of around 29.3% in the firm, as of the last close.
- In this note, we run the deal through our ECM framework and comment on deal dynamics.
Zinka Logistics IPO Lockup – US$530m Lockup Release; PE Investors Might Look to Book Gains
- Blackbuck (1355652D IN) raised around US$130m in its India IPO in Nov 2024. The lockup on its pre-IPO investors is set to expire soon.
- Zinka Logistics (Blackbuck) is India’s largest digital platform for truck operators (in terms of users), with 27.52% of India’s truck operators transacting on its platform in FY24, as per Redseer.
- In this note, we will talk about the lockup dynamics and possible placement.
Tata Motors Q4 & FY25 Update: Strong Financial Performance with Focus on EV Growth
- Tata Motors posted its highest-ever annual revenue and PBT for FY25, with strong sequential growth in Q4 driven by robust performance in both commercial and passenger vehicle segments.
- The company successfully managed to navigate global trade and tariff challenges, improved its profitability through cost-saving measures, and expanded its leadership in electric mobility.
- The results demonstrate Tata Motors’ resilience and long-term growth strategy, especially with a continued focus on electric vehicles and new product innovations.
Can the India’s Largest Motorcycle Manufacturer Maintain Its Dominance?
- This note examines Hero Motocorp (HMCL IN)’s market share trajectory in the context of broader two-wheeler industry trends.
- It also highlights internal leadership churn and execution issues post split from Honda Motor (7267 JP)
- Finally, this note reviews the strategic outlook and key challenges ahead for the company, despite its discounted valuation compared to peers.
Lucror Analytics – Morning Views Asia
- In today’s Morning Views publication we comment on developments of the following high yield issuers: GMR Hyderabad, China Vanke, Indofood CBP, Pertamina (Persero), Rakuten Group
- Treasuries fell, with yields rising yesterday as the market continued to dial back expectations for Fed rate cuts. Fed-dated OIS were pricing in 49 bps of rate cuts in 2025 as of yesterday (vs. 54 bps as of Tuesday).
- The yield on the 2Y UST rose 5 bps to 4.05%, while the yield on the 10Y UST expanded 7 bps to 4.54%. Equities edged higher, with the S&P 500 and Nasdaq up 0.1% and 0.7%, respectively.
Tata Steel – Earnings Flash – FY 2024-25 Results – Lucror Analytics
- Tata Steel has released its Q4 and FY 2024-25 numbers.
- Earnings recovery was robust, thanks to operational efficiencies, cost reductions and excellent performance in India despite a challenging global steel market environment.
- Profitability improved, while debt decreased and capital investments were maintained amid headwinds in Europe.
💡 Before it’s here, it’s on Smartkarma
Sign Up for Free
The Smartkarma Preview Pass is your entry to the Independent Investment Research Network
- ✓ Unlimited Research Summaries
- ✓ Personalised Alerts
- ✓ Custom Watchlists
- ✓ Company Data and News
- ✓ Events & Webinars
