In today’s briefing:
- The Beat Ideas: LIC Housing Finance- RoA at Decade High, Valuation Near Lows?
- Can Ola Electric Stage a Strong Comeback? Analyzing Its Current Performance & Future Potential
- Hexaware Technologies (HEXT IN): Addition to One Global Index, Potential Deletion from the Other
- Lucror Analytics – Morning Views Asia
- Emmvee Photovoltaic Power Ltd Pre-IPO Tearsheet
The Beat Ideas: LIC Housing Finance- RoA at Decade High, Valuation Near Lows?
- India’s largest HF company with a stable loan book, supported by LIC’s parentage and a focus on salaried home loans, shows its fundamental strength.
- The company demonstrates robust operational performance, marked by a decade-high 1.83% Return on Assets (RoA) and a competitive 16% Return on Equity (ROE).
- It targets future growth by efficiently managing borrowing costs and strategically diversifying into higher-margin segments like project finance and LAP/LRD.
Can Ola Electric Stage a Strong Comeback? Analyzing Its Current Performance & Future Potential
- Ola Electric reported a strong 35.5% QoQ increase in revenue, with a significant 32.7% increase in vehicle deliveries
- Overall company showed a rebound and improvement in operational and financial performance, along with strong guidance for FY26.
- Though the company continue to face key headwinds in terms of cost pressures, rare-earth related macro headwinds along with increased competition and regulatory challenges.
Hexaware Technologies (HEXT IN): Addition to One Global Index, Potential Deletion from the Other
- Hexaware Technologies (HEXW IN) went public on the NSE on 19 February 2025. Since then, the price has surged 20%, resulting in a market cap of ~$6.0bn.
- The security is forecasted to be added to Global All-World at the September 2025 review, having surpassed the market cap and float cap thresholds.
- If the price continues to rise, the security may be assigned to Global Standard, which could result in deletion from SmallCap without inclusion in Standard due to insufficient float cap.
Lucror Analytics – Morning Views Asia
- In today’s Morning Views publication we comment on developments of the following high yield issuers: Adani Green Energy, Yanlord Land, China Vanke
- The UST curve bear-steepened marginally yesterday, in line with a steepening in the JGB curve and amid an absence of macro news. The yield on the 2Y UST rose 1 bp to 3.90%, while the yield on the 10Y UST was up 2 bps at 4.44%.
- Equities shrugged off earlier losses to end the day marginally higher, after US President Donald Trump told reporters there could be trade talks, including with Europe. The S&P 500 rose 0.1% to 6,269, while the Nasdaq was up 0.3% at 20,640. The market focus today is on the US CPI for June.
Emmvee Photovoltaic Power Ltd Pre-IPO Tearsheet
- Emmvee Photovoltaic Power Limited (0198068D IN) (EPPL) is looking to raise about US$350m in its upcoming India IPO. The bookrunners for the deal are JM Fin, IIFL, Jefferies, Kotak.
- EPPL is an integrated solar PV module and cell manufacturer offering advanced technologies like TOPCon and Mono PERC.
- According to the CRISIL Report, as on Mar 25, EPPL was the second largest pure-play integrated solar photovoltaic (PV) module and solar cell manufacturer in India by production capacity.
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