Pan-Asia Index Rebalances/ Events/ Delta One, Periscope Analytics

Brian Freitas

Pan-Asia Index Rebalances/ Events/ Delta One

Periscope Analytics

Periscope Analytics focuses on event-driven trades across Asia Pacific and provides comprehensive, timely and systematic coverage of index changes to major Asia Pacific indices in a structured manner.

The analysis includes forecasted inclusions and exclusions to all major Asian indices that have significant amount of tracking assets, including estimates of passive buy/sell flow on the stocks. The service also provides commentary and impact of market consultations, ground rule changes, and other events (IPOs, spin-offs, M&A) that could lead to index changes and passive flow.

Periscope Analytics works with multi-strategy hedge funds, proprietary trading firms, stat arb trading groups and long-only investors that invest and trade in the Asia Pacific region with the data being used to trade index rebalances, avoid pre-positioning and passive flow, and to time entry into and exit from stocks.

Event-Driven Trades Across Asia Pacific

Index Rebalance

<ul>
<li>Companies in India have disclosed their shareholding pattern as of end-March in April. There are companies with significant float changes from end-December and/or end-September.</li>
<li>The changes in free float could be reflected in domestic and global indices over the next few weeks and months resulting in action from passive trackers.</li>
<li>Depending on the date that the shareholding was published, there could be 6 stocks with passive inflows from global trackers while 4 could see passive outflows in May.</li>
</ul>


Companies in India have disclosed their shareholding pattern as of end-March in April. There are companies with significant float changes from end-December and/or end-September.
The changes in free float could be reflected in domestic and global indices over the next few weeks and months resulting in action from passive trackers.
Depending on the date that the shareholding was published, there could be 6 stocks with passive inflows from global trackers while 4 could see passive outflows in May.


India: Potential Free Float Changes & Passive Flows in 3 Weeks

India Equity Analyst - Fundamental & Thematic, Beat the Street

Sudarshan Bhandari

India Equity Analyst - Fundamental & Thematic

Beat the Street

Beat The Street was founded by Nimish Maheshwari and Sudarshan Bhandari, both of whom are Chartered Accountants by Profession, known for their expert analysis in the fields of Business, Sectoral analysis, and Corporate governance.

With a strong social media presence of 45,000+ Subscribers across various platforms, they are considered trusted voices in the industry. Their insights and analysis have been featured in some of India’s most prominent publications, including the Economic Times, Dalal Street Investment Journal, The Morning Context, and The Ken.

Their analysis on Bankrupt & Insolvent companies has been instrumental in saving investors from significant losses. They have a keen eye for identifying red flags and has identified exclusive redflags earlier in Vedanta, Nykaa, Dhani Services, Adani and many more.

Read Business Not Stock Prices

Thematic (Sector/Industry)

<ul>
<li>MFN policy aims to align US drug prices with the lowest prices paid by other developed nations, potentially resulting in significant price reductions.</li>
<li>Indian pharma players have limited impact, considering only few companies have notable presence in branded markets</li>
<li>Repercussions for pharma are wider in terms of potential lower R&amp;D spend along with squeezed margins. Though implementation of policy key moniterable</li>
</ul>


MFN policy aims to align US drug prices with the lowest prices paid by other developed nations, potentially resulting in significant price reductions.
Indian pharma players have limited impact, considering only few companies have notable presence in branded markets
Repercussions for pharma are wider in terms of potential lower R&amp;D spend along with squeezed margins. Though implementation of policy key moniterable


Thematic Report: Will the US MFN Policy for Pharma Impact Indian Pharmaceuticals?

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

<ul><li>The company’s US revenue stood at $226 Mn, reflecting a 1.7% YoY decrease, although this was affected by lower Lanreotide supply issues. </li><li>India’s branded prescription segment grew by 10% YoY as key therapies like Respirator, Urology, etc.has performed well.</li><li>Chronic products now comprise 61.5% of revenue, continuing to outpace IPM growth. However, the Acute segment remains impacted by seasonal challenges.</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.

The company’s US revenue stood at $226 Mn, reflecting a 1.7% YoY decrease, although this was affected by lower Lanreotide supply issues. India’s branded prescription segment grew by 10% YoY as key therapies like Respirator, Urology, etc.has performed well.Chronic products now comprise 61.5% of revenue, continuing to outpace IPM growth. However, the Acute segment remains impacted by seasonal challenges.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.

CIPLA Ltd - CIPLA Delivers Despite U.S. Struggles

External broker reports(aggregated public sources), Sharekhan

Sharekhan

Sharekhan is India's leading broking house providing services from easy online trading, research to wide array of financial products. 

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.

<ul><li>Sharekhan's research report onCipla Cipla’s revenue reached Rs. 7,051 crore, reflecting a 7% y-o-y increase and a 6% q-o-q rise, meeting our expectations.</li><li>EBITDA stood at Rs. 1,886 crore with 15% y-o-y growth; it slightly missed our estimates by 1% and margins remained steady at 27%.</li><li>Cipla is poised for growth in North America, driven by demand for its generic asthma drug and cancer injectables, along with four new approvals secured during the quarter.</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.

Sharekhan's research report onCipla Cipla’s revenue reached Rs. 7,051 crore, reflecting a 7% y-o-y increase and a 6% q-o-q rise, meeting our expectations.EBITDA stood at Rs. 1,886 crore with 15% y-o-y growth; it slightly missed our estimates by 1% and margins remained steady at 27%.Cipla is poised for growth in North America, driven by demand for its generic asthma drug and cancer injectables, along with four new approvals secured during the quarter.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.

Cipla Ltd - Meaningful New Launches to Drive Growth

<ul><li>The company’s US revenue stood at $237 Mn, reflecting a 3.5% YoY increase, although this was affected by lower Lanreotide sales as the partner’s manufacturing plant underwent capacity expansion.</li><li>India’s branded prescription segment grew by 4.7%, with seasonal impacts on the acute category, which increased by 4.9% compared to 12% in the previous quarter.</li><li>Chronic products now comprise 61% of revenue, continuing to outpace IPM growth.</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.

The company’s US revenue stood at $237 Mn, reflecting a 3.5% YoY increase, although this was affected by lower Lanreotide sales as the partner’s manufacturing plant underwent capacity expansion.India’s branded prescription segment grew by 4.7%, with seasonal impacts on the acute category, which increased by 4.9% compared to 12% in the previous quarter.Chronic products now comprise 61% of revenue, continuing to outpace IPM growth.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.

CIPLA Ltd - Regulatory Hurdles Cloud the Outlook

India

Cipla Limited manufactures and sells pharmaceutical and personal care products. The Company offers active pharmaceutical ingredients, and formulations in therapeutic areas, such as allergy, analgesic, anti malarial, anti-infectives, cardiology, dermatology and cosmeceuticals, diabetology, gastroenterology, steroids, iron chelators, nutritional products.

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Cipla Ltd (CIPLA IN)

India: Potential Free Float Changes & Passive Flows in 3 Weeks

Changes to shareholding patterns could lead to changes in float for some stocks in local/global indices. Passive trackers will need to trade over 3...

Brian Freitas

Thematic Report: Will the US MFN Policy for Pharma Impact Indian Pharmaceuticals?

US MFN drug pricing policy aims to lower prices by aligning with other developed nations, impacting pharma R&D spend and margins, with limited...

Sudarshan Bhandari

CIPLA Ltd - CIPLA Delivers Despite U.S. Struggles

The company’s US revenue stood at $226 Mn, reflecting a 1.7% YoY decrease, although this was affected by lower Lanreotide supply issues.

Axis Direct

Cipla Ltd - Meaningful New Launches to Drive Growth

Sharekhan's research report onCipla Cipla’s revenue reached Rs. 7,051 crore, reflecting a 7% y-o-y increase and a 6% q-o-q rise, meeting our...

Sharekhan

CIPLA Ltd - Regulatory Hurdles Cloud the Outlook

The company’s US revenue stood at $237 Mn, reflecting a 3.5% YoY increase, although this was affected by lower Lanreotide sales

Axis Direct

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

India: Potential Free Float Changes & Passive Flows in 3 Weeks

Changes to shareholding patterns could lead to changes in float for some stocks in local/global indices. Passive trackers will need to trade over 3...

Brian Freitas

Thematic Report: Will the US MFN Policy for Pharma Impact Indian Pharmaceuticals?

​US MFN drug pricing policy aims to lower prices by aligning with other developed nations, impacting pharma R&D spend and margins, with limited...

Sudarshan Bhandari

CIPLA Ltd - CIPLA Delivers Despite U.S. Struggles

The company’s US revenue stood at $226 Mn, reflecting a 1.7% YoY decrease, although this was affected by lower Lanreotide supply issues.

Axis Direct

Cipla Ltd - Meaningful New Launches to Drive Growth

Sharekhan's research report onCipla Cipla’s revenue reached Rs. 7,051 crore, reflecting a 7% y-o-y increase and a 6% q-o-q rise, meeting our...

Sharekhan

CIPLA Ltd - Regulatory Hurdles Cloud the Outlook

The company’s US revenue stood at $237 Mn, reflecting a 3.5% YoY increase, although this was affected by lower Lanreotide sales

Axis Direct

US MFN drug pricing policy aims to lower prices by aligning with other developed nations, impacting pharma R&D spend and margins, with limited...