Technical Analyst, Vermilion Research

Joe Jasper

Technical Analyst

Technical and Quantitative Research

Vermilion Research

Vermilion’s objective is to deliver timely, actionable, and unique technical research to professional investors through the application of our various technical indicators.

Our research strategists seek to highlight securities which we believe are at major inflection points, based on our various technical and quantitative indicators, and offer asymmetric risk/return profiles. Our unique research methodology, centered on relative strength, enables our strategists to deliver superior investment recommendations.

Our process begins by organizing the universe of actively traded stocks into discrete sectors, then into industry groups. We then apply our technical and quantitative tools to identify developing price trends. Once attractive trends are identified within a selected sector or group, we screen for individual stocks which we believe offer the best risk/reward profile. We provide a historical perspective that often reveals, through our long-term charts, how price patterns often repeat themselves over time.

Technical Analysis

<ul>
<li>We are starting to see early signs of a potential bottom on MSCI EM (EEM-US).</li>
<li>Specifically, the EEM-US has reversed topside its 6-month downtrend. If MSCI EM has indeed bottomed, we want to be buying the leaders; that is where this report comes in.</li>
<li>Specific themes include attractive opportunities in India and Thailand, and also many in Taiwan and South Korea. Attractive Sectors include Energy, Financials, Materials, and Industrials.</li>
</ul>


We are starting to see early signs of a potential bottom on MSCI EM (EEM-US).
Specifically, the EEM-US has reversed topside its 6-month downtrend. If MSCI EM has indeed bottomed, we want to be buying the leaders; that is where this report comes in.
Specific themes include attractive opportunities in India and Thailand, and also many in Taiwan and South Korea. Attractive Sectors include Energy, Financials, Materials, and Industrials.


Finding Leadership Within Emerging Markets

External broker reports(aggregated public sources), ICICI Securities Ltd

ICICI Securities Limited

External broker reports(aggregated public sources)

ICICI Securities Ltd

ICICI Securities Limited provides investment services. The Company provides corporate and investment banking, securities, wealth management, retail brokerage, initial public offerings, and advisory services. 

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

IDFC First Bank Limited / Equity Bottom-Up

<ul><li>IDFC First Bank was formed by the merger of the erstwhile IDFC Bank and Capital First in 2018. Retailisation of its business has been key focus.</li><li>Retail funded assets form 62% of gross funded assets</li><li>Branch network is at 599 with 727 ATMs as on December 2021</li></ul><div class="content-highlight"><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></div>

IDFC First Bank was formed by the merger of the erstwhile IDFC Bank and Capital First in 2018. Retailisation of its business has been key focus.Retail funded assets form 62% of gross funded assetsBranch network is at 599 with 727 ATMs as on December 2021Content 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.

<p>What should investors do? The IDFC First stock has given ~30% return in the past three years while the stock price has jumped ~2x in the past one year. Rise in stress remains a near term overhang but a gradual improvement in margin and operational...</p><div class="content-highlight"><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></div>

What should investors do? The IDFC First stock has given ~30% return in the past three years while the stock price has jumped ~2x in the past one year. Rise in stress remains a near term overhang but a gradual improvement in margin and operational...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.

IDFC First Bank: Retail Slippage Impacts PAT; Maintains Guidance

India Financials

Saumya Agarwal

<p>IDFC first Bank, one of the youngest Banks in India, has been making steady progress on its strategic goals - that of de-risking the balance sheet and augmenting its retail liabilities. However it continues to trade at a marked discount vis-à-vis peers. What can close this valuation gap for IDFC First Bank?</p>

IDFC first Bank, one of the youngest Banks in India, has been making steady progress on its strategic goals - that of de-risking the balance sheet and augmenting its retail liabilities. However it continues to trade at a marked discount vis-à-vis peers. What can close this valuation gap for IDFC First Bank?

IDFC First Bank- What Can Close the Valuation Gap of IDFC Bank Vis-A-Vis Its Peers?

Head of Research, IPOs & Placements, Aequitas Research

Sumeet Singh

Head of Research, IPOs & Placements

IPOs and Placements coverage across Asia Pacific

Aequitas Research

We cover all listing across the Asia Pacific along with follow-up placements. As of Dec 2020, our team had covered 539 IPOs with a hit rate of 73.5% and 685 placements with a hit rate of 66.8%.

We combine fundamental bottom-up views with our proprietary quantitative framework to provide a holistic coverage across new listings and placements. Our coverage includes pre-IPO notes before the deal is launched, follow-up analysis once the deal is live and post-listing trading analysis as well.

Equity Capital Markets

<p><a href="https://www.smartkarma.com/entities/yes-bank-ltd" target="_blank" data-smartkarma-citation="entities:767:1" rel="noopener">Yes Bank (YES IN)</a> aims to raise around US$2bn via a follow-on public offering. </p>
<p>The deal is a follow-on public offering but has been priced more like a rights issues, with the discount being 41-46% to its undisturbed price and the company looking to double its share count. </p>
<p>In this insight, I'll talk about the deal dynamics and run it through our ECM framework.</p>

Yes Bank (YES IN) aims to raise around US$2bn via a follow-on public offering. 
The deal is a follow-on public offering but has been priced more like a rights issues, with the discount being 41-46% to its undisturbed price and the company looking to double its share count. 
In this insight, I'll talk about the deal dynamics and run it through our ECM framework.

Yes Bank Placement/FPO - Anchor Book Participants Are the Key

India

IDFC First Bank Limited provides a full range of commercial banking services for retail and institutional customers. The Bank offers fixed deposits, debit cards, savings account, cash management, and other services. IDFC Bank serves its customers in India.

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IDFC First Bank Limited (IDFCBK IN)

Finding Leadership Within Emerging Markets

We are starting to see early signs of a potential bottom on $EEM. Specifically, the EEM has reversed topside its 6-month downtrend. If EEM has...

Vermilion Research

IDFC First Bank

IDFC First Bank was formed by the merger of the erstwhile IDFC Bank and Capital First in 2018. Retailisation of its business has been key focus.

ICICI Securities Limited

IDFC First Bank: Retail Slippage Impacts PAT; Maintains Guidance

What should investors do? The IDFC First stock has given ~30% return in the past three years while the stock price has jumped ~2x in the past one...

ICICI Securities Limited

IDFC First Bank- What Can Close the Valuation Gap of IDFC Bank Vis-A-Vis Its Peers?

IDFC first Bank has been making steady progress on its strategic goals but continues to trade at a marked discount vis-à-vis peers. What can close...

Saumya Agarwal

Yes Bank Placement/FPO - Anchor Book Participants Are the Key

Yes Bank (YES IN) aims to raise around US$2bn via a follow-on public offering. The deal is a follow-on public offering but has been priced more...

Sumeet Singh

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