In today’s briefing:
- NIFTY50 Index Outlook Amid Ongoing Rebalance Review
- Waaree Energies (WAAREEEN IN): Increased Float & Global Index Inclusion
- Sona Comstar’s China JV: Tapping into the World’s Largest EV Market
- Prestige Hospitality Ventures Pre-IPO-Marriott-Heavy Portfolio with Other Operating Revenue Concerns
- UCO Bank (UCO IN) Vs. IOB (IOB IN): Catch-Up Potential
- Veritas Finance Pre-IPO: Fast Growing Lender to the Un/Under-Banked
- Pine Labs Pre-IPO – The Negatives – …some Segments Slowing, Lots Unexplained
NIFTY50 Index Outlook Amid Ongoing Rebalance Review
- As outlined by Brian Freitas , the NIFTY Index ‘s September rebalance ends July 31st, the announcement of the changes will take place end August and implemented on September 29th.
- The index has been pulling back for 3 weeks, it’s oversold according to our model, 75% probability of reversing up this week.
- Lower support limit would be 24319, while a rally could take the index to 25642 across a couple of weeks. The rally won’t last more than 2 weeks probably.
Waaree Energies (WAAREEEN IN): Increased Float & Global Index Inclusion
- An increase in the stock price and free float should result in Waaree Energies (WAAREEEN IN) being included in a global index in August.
- Estimated passive buying is 8.2m shares (US$295m; 3x ADV; 10.8x delivery volume) at the close of trading on 26 August.
- Waaree Energies (WAAREEEN IN) has outperformed Premier Energies (PREMIERE IN) over the last 3 months but still trades at a lower forward PE.
Sona Comstar’s China JV: Tapping into the World’s Largest EV Market
- On July 20, 2025, Sona Blw Precision Forgings Lt (SONACOMS IN) announced a $20 million joint venture with China’s JNT to enter the world’s largest EV market.
- The move aims to capture growth in China’s dominant EV market, aligning with the company’s new strategy to expand into eastern markets
- An EV slowdown is expected in FY26 while the China JV and railway business, despite driving future growth from FY27 onwards, are expected to lower margins.
Prestige Hospitality Ventures Pre-IPO-Marriott-Heavy Portfolio with Other Operating Revenue Concerns
- Prestige Hospitality Ventures Ltd (1831338D IN) is looking to raise about US$317m in its upcoming India IPO.
- Prestige Hospitality Ventures Ltd (PHVL) is part of the Prestige Group. It is a hospitality asset owner and developer focused on luxury, upper upscale, and upper midscale properties in India.
- In this note, we talk about the company’s historical performance.
UCO Bank (UCO IN) Vs. IOB (IOB IN): Catch-Up Potential
- Context: The Indian Overseas Bank (IOB IN) vs. UCO Bank (UCO IN) Price-Ratio has deviated more than two standard deviations from its one-year average, presenting a potential relative value opportunity.
- Highlights: Statistical mean reversion suggests short-term outperformance of UCO Bank (UCO IN), also supported by more attractive valuations.
- Why Read: Essential for quantitative traders seeking mean-reversion opportunities, with detailed execution framework, risk management protocols, and historical simulation showing the statistical basis for this relative value play.
Veritas Finance Pre-IPO: Fast Growing Lender to the Un/Under-Banked
- Veritas Finance Ltd (1392490D IN) is looking to raise up to US$323m in its upcoming Indian IPO.
- It was established in 2015, and is a non-deposit taking non-banking financial company (NBFC) registered with the Reserve Bank of India (RBI), classified as an ‘NBFC-Middle Layer’.
- In this note, we look at the firm’s past performance.
Pine Labs Pre-IPO – The Negatives – …some Segments Slowing, Lots Unexplained
- Pine Labs is looking to raise up to US$1bn in its upcoming India IPO.
- Pine Labs (PL) is a fintech firm focused on digitizing commerce through digital payments and issuing solutions for merchants, consumer brands and enterprises, and financial institutions.
- In this note, we talk about the not-so-positive aspects of the deal.
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