External broker reports(aggregated public sources), HDFC Securities

HDFC Securities

External broker reports(aggregated public sources)

HDFC securities is the best online trading platform for stocks, IPOs, mutual fund 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.

Thematic (Sector/Industry)

<div><div><div><ul><li>PGCIL: PGCIL’s asset capitalisation/Capex in Q4FY22 declined 75.5%YoY/44.0% YoY to ~INR21.8bn/INR18.1bn, on a high YoY base.</li></ul><div><div><div><ul><li>Hindustan Petroleum Corporation: Our ADD rating on Hindustan Petroleum Corporation (HPCL) with a price target of INR 270 is premised on (1) recovery in domestic demand for petroleum products; (2) improvement in refining margins over the coming 18 months; and (3) gradual improvement in marketing margins for FY23-24 vis-à-vis FY22 levels.</li></ul><div><div><div><ul><li>Q4FY22 EBITDA, at INR 21bn, was 14% below our estimates, mainly due to higher other expenses; however, APAT of INR 18bn was 38% above estimates due to higher-than- expected other income and lower tax expenses.</li></ul></div></div></div></div></div></div></div></div></div><p><em>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.</em></p>

PGCIL: PGCIL’s asset capitalisation/Capex in Q4FY22 declined 75.5%YoY/44.0% YoY to ~INR21.8bn/INR18.1bn, on a high YoY base.Hindustan Petroleum Corporation: Our ADD rating on Hindustan Petroleum Corporation (HPCL) with a price target of INR 270 is premised on (1) recovery in domestic demand for petroleum products; (2) improvement in refining margins over the coming 18 months; and (3) gradual improvement in marketing margins for FY23-24 vis-à-vis FY22 levels.Q4FY22 EBITDA, at INR 21bn, was 14% below our estimates, mainly due to higher other expenses; however, APAT of INR 18bn was 38% above estimates due to higher-than- expected other income and lower tax expenses.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.

HSIE Results Daily: PGCIL, Hindustan Petroleum Corporation

<ul><li>PGCIL: PGCIL’s asset capitalisation/Capex in Q4FY22 declined 75.5%YoY/44.0% YoY to ~INR21.8bn/INR18.1bn, on a high YoY base.</li><li>Hindustan Petroleum Corporation: Our ADD rating on Hindustan Petroleum Corporation (HPCL) with a price target of INR 270 is premised on (1) recovery in domestic demand for petroleum products; (2) improvement in refining margins over the coming 18 months; and (3) gradual improvement in marketing margins for FY23-24 vis-à-vis FY22 levels.</li><li>Q4FY22 EBITDA, at INR 21bn, was 14% below our estimates, mainly due to higher other expenses; however, APAT of INR 18bn was 38% above estimates due to higher-than-expected other income and lower tax expenses</li></ul><p><em>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.</em></p>

PGCIL: PGCIL’s asset capitalisation/Capex in Q4FY22 declined 75.5%YoY/44.0% YoY to ~INR21.8bn/INR18.1bn, on a high YoY base.Hindustan Petroleum Corporation: Our ADD rating on Hindustan Petroleum Corporation (HPCL) with a price target of INR 270 is premised on (1) recovery in domestic demand for petroleum products; (2) improvement in refining margins over the coming 18 months; and (3) gradual improvement in marketing margins for FY23-24 vis-à-vis FY22 levels.Q4FY22 EBITDA, at INR 21bn, was 14% below our estimates, mainly due to higher other expenses; however, APAT of INR 18bn was 38% above estimates due to higher-than-expected other income and lower tax expensesContent 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.

HSIE Results Daily - PGCIL, Hindustan Petroleum Corporation

Pan-Asia Index Flows & Special Situations, Quiddity Advisors

Janaghan Jeyakumar, CFA

Pan-Asia Index Flows & Special Situations

Quiddity Advisors

Pan-Asia Catalysts/Events

Event-Driven

<ul>
<li>After market close on Friday 20th May 2022, the constituency changes for S&amp;P BSE 100, SENSEX 50, and SENSEX Next 50 Indices were announced. </li>
<li>There will be no changes for S&amp;P BSE SENSEX and S&amp;P BSE BANKEX Indices in the June 2022 Rebalance. </li>
<li>These changes will become effective at the open of Monday 20th June 2022. Below is a closer look at each of the names involved in the June 2022 Rebalance.</li>
</ul>


After market close on Friday 20th May 2022, the constituency changes for S&amp;P BSE 100, SENSEX 50, and SENSEX Next 50 Indices were announced. 
There will be no changes for S&amp;P BSE SENSEX and S&amp;P BSE BANKEX Indices in the June 2022 Rebalance. 
These changes will become effective at the open of Monday 20th June 2022. Below is a closer look at each of the names involved in the June 2022 Rebalance.


S&P BSE Indices: No Changes for SENSEX; 7 ADDs/DELs for BSE 100 in June 2022

External broker reports(aggregated public sources), Nirmal Bang

Nirmal Bang

A Relationship Beyond Broking

Nirmal Bang, one of the leading stock broking companies in India, caters to retail and institutional clients by offering them a range of financial products and services, including equities, derivatives, commodities, currency derivatives, mutual funds, IPOs, insurance, depository services and PMS.

Nirmal Bang is drawn from a diversity of professional backgrounds, and blend of experience, skill and dedication is shared with its clients. Nirmal Bang emphasizes adequate, thorough research local and world-wide developments, balancing these with the astute discovery of intrinsic values, synergies and growth. The aim is simply to help the investors to maximize their returns.

<ul><li>GAIL bucks energy storm hitting sector demand and margins. We see GAIL lead the Oil &amp; Gas pack even as the rest of the sector companies are trapped in the crosswinds of a sharp spike in crude oil, natural gas and product prices.</li><li>The surge in the Oil &amp; Gas chain prices sustained through April21 to mid-natural gas, especially LNG.</li><li>This has been fueled further by the Russia-Ukraine conflict, which has led to a scramble for crude oil, gas and diesel, with Russian exports (5mn bpd of oil...(continued).</li></ul><p><em>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.</em></p>

GAIL bucks energy storm hitting sector demand and margins. We see GAIL lead the Oil &amp; Gas pack even as the rest of the sector companies are trapped in the crosswinds of a sharp spike in crude oil, natural gas and product prices.The surge in the Oil &amp; Gas chain prices sustained through April21 to mid-natural gas, especially LNG.This has been fueled further by the Russia-Ukraine conflict, which has led to a scramble for crude oil, gas and diesel, with Russian exports (5mn bpd of oil...(continued).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.

Oil & Gas Sector: GAIL Bucks Energy Storm Hitting Sector Demand and Margins

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

Apollo Hospitals Enterprise / Event-Driven

<ul>
<li>The changes to the <a href="https://www.smartkarma.com/entities/nifty-index" target="_blank" data-smartkarma-citation="entities:23617:1" rel="noopener">NIFTY Index (NIFTY INDEX)</a>, <a href="https://www.smartkarma.com/entities/nifty-bank-index" target="_blank" data-smartkarma-citation="entities:26811:1" rel="noopener">Nifty Bank Index (NSEBANK INDEX)</a> and NIFTY NEXT50 Indices were announced on 24 February and will be implemented at the close today.</li>
<li>There is a fair amount to trade on the <a href="https://www.smartkarma.com/entities/nifty-index" target="_blank" data-smartkarma-citation="entities:23617:1" rel="noopener">NIFTY Index (NIFTY INDEX)</a> and <a href="https://www.smartkarma.com/entities/nifty-bank-index" target="_blank" data-smartkarma-citation="entities:26811:1" rel="noopener">Nifty Bank Index (NSEBANK INDEX)</a> stocks given the sizeable passive assets that track the indices.</li>
<li>There is pre-positioning on some of the names and there could be opportunities to build positions to play for a reversal.</li>
</ul>


The changes to the NIFTY Index (NIFTY INDEX), Nifty Bank Index (NSEBANK INDEX) and NIFTY NEXT50 Indices were announced on 24 February and will be implemented at the close today.
There is a fair amount to trade on the NIFTY Index (NIFTY INDEX) and Nifty Bank Index (NSEBANK INDEX) stocks given the sizeable passive assets that track the indices.
There is pre-positioning on some of the names and there could be opportunities to build positions to play for a reversal.


NIFTY Index Rebalance: Flows at the Close Today

India

Hindustan Petroleum Corporation Limited refines crude oil and manufactures petroleum and petroleum products. The Company's products, which are sold via outlets throughout India, include lube products, lubricating oil, aviation fuel, hydraulic brake fluid, greases, liquefied petroleum gas and insecticides. The Government of India is the majority shareholder in the company.

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Hindustan Petroleum (HPCL IN)

HSIE Results Daily: PGCIL, Hindustan Petroleum Corporation

PGCIL: PGCIL’s asset capitalisation/Capex in Q4FY22 declined 75.5%YoY/44.0% YoY to ~INR21.8bn/INR18.1bn, on a high YoY base.

HDFC Securities

HSIE Results Daily - PGCIL, Hindustan Petroleum Corporation

PGCIL: PGCIL’s asset capitalisation/Capex in Q4FY22 declined 75.5%YoY/44.0% YoY to ~INR21.8bn/INR18.1bn, on a high YoY base.

HDFC Securities

S&P BSE Indices: No Changes for SENSEX; 7 ADDs/DELs for BSE 100 in June 2022

S&P BSE Index changes for June 2022 were announced last week. No changes for SENSEX. 7 Adds/Deletes for BSE 100 including some negative and...

Janaghan Jeyakumar, CFA

Oil & Gas Sector: GAIL Bucks Energy Storm Hitting Sector Demand and Margins

GAIL bucks energy storm hitting sector demand and margins. We see GAIL lead the Oil & Gas pack even as the rest of the sector companies are trapped...

Nirmal Bang

NIFTY Index Rebalance: Flows at the Close Today

The March rebalance for the NIFTY family of indices will be implemented at the close of trading today. There is a fair amount to trade on the adds,...

Brian Freitas

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