In today’s briefing:
- EQD / NSE NIFTY50 Vol Update / IVs Jump on HMPV Scare Then Grind Lower as Mkts Hold Support.
- Anthem Biosciences Limited Pre-IPO Tearsheet
- GNA Axles (INE934S01014): Steady Q3FY25 Earnings, Major Expansion and Sustainability Push
EQD / NSE NIFTY50 Vol Update / IVs Jump on HMPV Scare Then Grind Lower as Mkts Hold Support.
- IVs jump early as sentiment soured, but trailed off through the week as underlying markets held support zones. Vol-Regime Model retains “High & Down” state.
- Skew & Smile unchanged over the week in spite of the rollercoaster ride in IVs. Term-structure experienced to-and-fro swings.
- Trading Strategy Implications: Iron Condor/ Butterfly structures to be continued as long as regime model indicates “High & Down” vol state.
Anthem Biosciences Limited Pre-IPO Tearsheet
- Anthem Biosciences (1234D IN) is looking to raise up to US$397m in its upcoming India IPO. The deal will be run by JMF, Citi, JP Morgan and Nomura.
- It is a Contract Research, Development, and Manufacturing Organization (CRDMO) with fully integrated operations spanning drug discovery, development, and manufacturing.
- As a one-stop service provider, ABS serves a range of customers, including innovator-focused emerging biotech companies and large pharmaceutical organizations globally.
GNA Axles (INE934S01014): Steady Q3FY25 Earnings, Major Expansion and Sustainability Push
- GNA Axles Ltd (GNA IN) reported Q3FY25 results with Revenue/EBITDA/PAT growth of 5%, 11%, and 13%, respectively. The improvement in operating margin was driven by lower operating expenses.
- In October 24, the company’s board approved a major capital expenditure program of INR 4 billion for manufacturing facilities and renewable energy.
- The stock trades at an attractive valuation of 16x P/E for FY25 with 15% RoE and RoCE.
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