In today’s briefing:
- NIFTY MIDCAP150 Index Rebalance Preview: 15 Potential Changes in March
- Action Construction Equipment Limited: Q3 FY25 Update
- WeWork India Management Ltd Pre-IPO Tearsheet
- Indian Trade Body Greenlights ADD On Halobutyl Rubber Imports
NIFTY MIDCAP150 Index Rebalance Preview: 15 Potential Changes in March
- With the review period now complete, there could be 15 changes for the NIFTY Midcap 150 Index at the March rebalance.
- Estimated one-way turnover is 8.3% resulting in a one-way trade of INR 7.65bn (US$88m). With over US$40bn tracking the index actively, the impact on the stocks will be much larger.
- The outright adds have outperformed the forecast deletes over the last 6 months, but there has been underperformance this calendar year.
Action Construction Equipment Limited: Q3 FY25 Update
- Action Construction Equipment (ACCE IN)’s Q3/9M-FY25 performance shows strong revenue growth (up 16.6% in Q3, 15.2% over nine months), improved EBITDA margins, and robust unit sales in key equipment segments.
- Improved product mix and a focus on high-value equipment drive operational efficiency, boosting profitability amid increasing infrastructure and capital expenditure trends.
- In the next 2 years, company will increase the proportion of exports that will drive the revenue growth.
WeWork India Management Ltd Pre-IPO Tearsheet
- WeWork India Management Ltd (1690124D IN) (WIML) is looking to raise about US$450m in its upcoming India IPO. The bookrunners for the deal are JMFin, ICICI, Jefferies, Kotak, 360 One.
- WIML was established in 2016 under the name, “Halosaur Bengaluru Private Limited” and is backed by Embassy Group. It is one of the leading premium flexible workspace operators.
- WIML has been the largest operator by total revenue in the past three Fiscals, according to the CBRE Report.
Indian Trade Body Greenlights ADD On Halobutyl Rubber Imports
- HIIR from Japan, Russia, Singapore, UK, USA face action
- India producer Reliance Sibur petitions DGTR on dumping
- ADD range from 10% to 70% on the affected imports
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