External broker reports(aggregated public sources), Axis Direct

Axis Direct

External broker reports(aggregated public sources)

Axis Direct is the flagship brand under Axis Securities Limited, a subsidiary of Axis Bank in India. 

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

Equity Bottom-Up

InterGlobe Aviation Ltd / Equity Bottom-Up

InterGlobe Aviation Limited provides passenger airlines services. The Company offers ground management, air transportation, terminal maintenance, and other services. InterGlobe Aviation conducts its business globally.

<ul><li>Interglobe Aviation Limited (IndiGo) is an India-based company, engaged in the airline business.</li><li>IndiGo is engaged in air transportation and pre-flight and post-flight ground handling operations, including passenger and cargo services and providing related allied services, such as in-flight sales, ground handling business, and other allied services at the airports.</li><li>With over 3 Lc customers a day for FY24, Indigo is increasing its foothold on not just the Indian but also the global aviation stage.</li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Interglobe Aviation Limited (IndiGo) is an India-based company, engaged in the airline business.IndiGo is engaged in air transportation and pre-flight and post-flight ground handling operations, including passenger and cargo services and providing related allied services, such as in-flight sales, ground handling business, and other allied services at the airports.With over 3 Lc customers a day for FY24, Indigo is increasing its foothold on not just the Indian but also the global aviation stage.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Axis Punch: Interglobe Aviations Ltd - 16th April, 2025

Pan-Asia Index Flows & Special Situations, Quiddity Advisors

Janaghan Jeyakumar, CFA

Pan-Asia Index Flows & Special Situations

Quiddity Advisors

Pan-Asia Catalysts/Events

Index Rebalance

Air China Limited provides passenger, cargo, and airline-related services in China.  The Company is primarily based in Beijing and a major hub for domestic and international air transportation.  Air China's airline-related services include aircraft maintenance, repair, overhaul service, ground services, and in-flight catering services.

<ul>
<li>CSI 300 represents the 300 largest stocks by market cap and liquidity from the Shanghai and Shenzhen Exchanges. CSI 500 is the next 500 names.</li>
<li>In this insight, we take a look at the potential ADDs and DELs leading the race for the semiannual index rebal event in June 2025.</li>
<li>Currently, we see 6 ADDs/DELs for the CSI 300 index and 50 ADDs/DELs for the CSI 500 index.</li>
</ul>


CSI 300 represents the 300 largest stocks by market cap and liquidity from the Shanghai and Shenzhen Exchanges. CSI 500 is the next 500 names.
In this insight, we take a look at the potential ADDs and DELs leading the race for the semiannual index rebal event in June 2025.
Currently, we see 6 ADDs/DELs for the CSI 300 index and 50 ADDs/DELs for the CSI 500 index.


Quiddity Leaderboard CSI 300/​​500 Jun25: End of Reference Period Soon; ~US$6bn Total One-Way

External broker reports(aggregated public sources), Rong Viet Securities

Rong Viet Securities

RongViet is proud to have a research team of experienced and trustworthy people whose works are at all time governed by the codes of objectivity, integrity and client's best interest.

Looking at relevant, up-to-date information from multiple perspectives with the support of intensive data and analyses, RongViet's research is effective, practical and widely used for investing purposes.

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

Airports Corporation Of Viet Nam / Equity Bottom-Up

Airports Corporation of Vietnam JSC provides airport operations. The Company is involved in investment, construction, management, and maintenance of airports. Airports Corporation of Vietnam operates in Vietnam.

Airports Corporation Of Viet Nam (ACV VN)

<ul>
<li>Net revenue grew by 13% YoY, reaching VND 4.9 trillion, while NPAT increased by 26% YoY, recording VND 2,898 bn after excluding airport infrastructure.</li>
<li>Total passenger volume reached 27 mn (-7% YoY), with international passenger volume increasing by 31% YoY to 9.8 mn, while domestic passenger volume dropped by 21% YoY to 17.2 mn.</li>
<li>The strong growth in international passengers was driven by Vietnam's ability to attract tourists from South Korea and China due to low travel costs. </li>
</ul>
Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.


Net revenue grew by 13% YoY, reaching VND 4.9 trillion, while NPAT increased by 26% YoY, recording VND 2,898 bn after excluding airport infrastructure.
Total passenger volume reached 27 mn (-7% YoY), with international passenger volume increasing by 31% YoY to 9.8 mn, while domestic passenger volume dropped by 21% YoY to 17.2 mn.
The strong growth in international passengers was driven by Vietnam's ability to attract tourists from South Korea and China due to low travel costs. 

Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

AIRPORTS CORPORATION OF VIETNAM - Bad Debt Risks Overshadow Many Growth Opportunities

Independent research on the U.S. markets, Baptista Research

Baptista Research

Independent research on the U.S. markets

Baptista Research is an independent financial research house focused on the U.S. markets. We provide equity research as well as credit research reports on the top-listed U.S. companies with most of our focus on technology, consumer goods and services, automobiles, industrials, oil and gas, pharma, and healthcare. Our research has served more than 3000 institutional investors including mutual funds, hedge funds, banks, family offices, and various buy-side firms. We operate a research subscription service where institutions, as well as retail investors, can have priority access to all our research. We also have a wide distribution of our research reports across some of the top global financial platforms. Apart from equity research and credit research, we also provide advisory services with respect to mergers & acquisitions (M&A), private equity/ venture capital fundraising, valuation reports, and investment management services for corporates.
Baptista Research is owned and managed by Ishan Majumdar, an ex-Venture Capitalist/ Investment Banker, a Chartered Accountant, and a Masters’ degree holder in Management from HEC Paris. Ishan has nearly a decade of experience in Mergers and Acquisitions, Leveraged Buyouts (LBOs), Venture Capital Investing, Corporate Strategy, and Valuation in front-office roles at the likes of BNP Paribas CIB, Credit Agricole CIB, Groupe Danone, and TIW Private Equity. He has worked on and closed multiple acquisition deals, leveraged buyouts, and start-up investment transactions.

American International Group / Equity Bottom-Up

American International Group, Inc. is an international insurance organization serving commercial, institutional and individual customers. AIG provides property-casualty insurance, life insurance and retirement services.

<ul><li>American Airlines is navigating a complex and turbulent operating environment as macroeconomic pressures, declining consumer confidence, and reduced corporate travel weigh heavily on the airline industry.</li><li>While the broader sector has been battered by a steep drop in airline stock valuations—American Airlines itself has declined 24% in the past month alone—American has nonetheless posted a strong financial performance in recent quarters.</li><li>In Q4, the carrier reported an adjusted pretax profit of $808 million and EPS of $0.86, beating guidance and contributing to a full-year adjusted pretax profit of $1.8 billion.</li></ul>

American Airlines is navigating a complex and turbulent operating environment as macroeconomic pressures, declining consumer confidence, and reduced corporate travel weigh heavily on the airline industry.While the broader sector has been battered by a steep drop in airline stock valuations—American Airlines itself has declined 24% in the past month alone—American has nonetheless posted a strong financial performance in recent quarters.In Q4, the carrier reported an adjusted pretax profit of $808 million and EPS of $0.86, beating guidance and contributing to a full-year adjusted pretax profit of $1.8 billion.

American Airlines Braces for Turbulence: Are Tariffs and Corporate Cuts Threatening Its 2025 Takeoff?

InterGlobe Aviation Ltd / Index Rebalance

<ul>
<li>NIFTY 50 represents the 50 largest stocks listed in the National Stock Exchange (NSE) of India and the NIFTY Next 50 index tracks the next 50 largest names.</li>
<li>In this insight, we take a look at the names leading the race to become ADDs/DELs for these indices in the September 2025 index rebal event.</li>
<li>We see two changes for NIFTY 50 and five changes for NIFTY 100. </li>
</ul>


NIFTY 50 represents the 50 largest stocks listed in the National Stock Exchange (NSE) of India and the NIFTY Next 50 index tracks the next 50 largest names.
In this insight, we take a look at the names leading the race to become ADDs/DELs for these indices in the September 2025 index rebal event.
We see two changes for NIFTY 50 and five changes for NIFTY 100. 


Quiddity Leaderboard NIFTY Sep25: US$1bn+ Total One-Way Flows; ADDs Strongly Outperforming DELs

Aviation and Airlines
Aviation and Airlines Industry

Axis Punch: Interglobe Aviations Ltd - 16th April, 2025

IndiGo is engaged in air transportation and pre-flight and post-flight ground handling operations, including passenger and cargo services and...

Axis Direct

Quiddity Leaderboard CSI 300/500 Jun25: End of Reference Period Soon; ~US$6bn Total One-Way

Collectively, for CSI 300 and CSI 500 there could be one-way flows of US$6bn during the June 2025 index rebal event. The reference period for final...

Janaghan Jeyakumar, CFA

AIRPORTS CORPORATION OF VIETNAM - Bad Debt Risks Overshadow Many Growth Opportunities

Net revenue grew by 13% YoY, reaching VND 4.9 trillion, while NPAT increased by 26% YoY, recording VND 2,898 bn after excluding airport...

Rong Viet Securities

American Airlines Braces for Turbulence: Are Tariffs and Corporate Cuts Threatening Its 2025 Takeoff?

American Airlines is navigating a complex and turbulent operating environment as macroeconomic pressures, declining consumer confidence, and...

Baptista Research

Quiddity Leaderboard NIFTY Sep25: US$1bn+ Total One-Way Flows; ADDs Strongly Outperforming DELs

Collectively, we see total one-way flows of more than US$1bn for NIFTY 50 and NIFTY Next 50 in September 2025. The NIFTY 50 expected changes have...

Janaghan Jeyakumar, CFA

Axis Punch: Interglobe Aviations Ltd - 16th April, 2025

IndiGo is engaged in air transportation and pre-flight and post-flight ground handling operations, including passenger and cargo services and...

Axis Direct

Quiddity Leaderboard CSI 300/​​500 Jun25: End of Reference Period Soon; ~US$6bn Total One-Way

Collectively, for CSI 300 and CSI 500 there could be one-way flows of US$6bn during the June 2025 index rebal event. The reference period for final...

Janaghan Jeyakumar, CFA

AIRPORTS CORPORATION OF VIETNAM - Bad Debt Risks Overshadow Many Growth Opportunities

Net revenue grew by 13% YoY, reaching VND 4.9 trillion, while NPAT increased by 26% YoY, recording VND 2,898 bn after excluding airport...

Rong Viet Securities

American Airlines Braces for Turbulence: Are Tariffs and Corporate Cuts Threatening Its 2025 Takeoff?

American Airlines is navigating a complex and turbulent operating environment as macroeconomic pressures, declining consumer confidence, and...

Baptista Research

Quiddity Leaderboard NIFTY Sep25: US$1bn+ Total One-Way Flows; ADDs Strongly Outperforming DELs

Collectively, we see total one-way flows of more than US$1bn for NIFTY 50 and NIFTY Next 50 in September 2025. The NIFTY 50 expected changes have...

Janaghan Jeyakumar, CFA

Quiddity Leaderboard CSI 300/500 Jun25: End of Reference Period Soon; ~US$6bn Total One-Way