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>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 during the September 2024 index rebal event.</li>
<li>Since my last insight, we have observed a couple of important changes to candidate rankings and that has resulted in some changes to our index change expectations.</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 during the September 2024 index rebal event.
Since my last insight, we have observed a couple of important changes to candidate rankings and that has resulted in some changes to our index change expectations.


Quiddity Leaderboard NIFTY Sep 24: Multiple Changes Possible for NIFTY 50; Some New Trade Ideas

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.

<ul>
<li>Antfin will come out of its placement linked lockup for its remaining stake in Zomato soon.</li>
<li>Ant Group had earlier sold some of its stake in Nov 2023 and Mar 2024. It still has over US$800m worth of shares left to sell.</li>
<li>In this note, we talk about the deal dynamics and run the deal through our ECM framework.</li>
</ul>


Antfin will come out of its placement linked lockup for its remaining stake in Zomato soon.
Ant Group had earlier sold some of its stake in Nov 2023 and Mar 2024. It still has over US$800m worth of shares left to sell.
In this note, we talk about the deal dynamics and run the deal through our ECM framework.


Zomato Placement Lockup Expiry - US$800m Overhang

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

Taiwan Semiconductor (TSMC) / Technical Analysis

<ul>
<li>New multi-year highs on the MSCI ACWI, ACWI ex-US, EAFE, and EM indexes -- combined with overwhelmingly healthy market dynamics -- validates our bullish outlook on global equities.</li>
<li>We continue to view the latest 5-6% pullback on $ACWI as healthy and normal within the ongoing bull market, and we expect higher prices ahead.</li>
<li>Global Energy Sector appears to be topping, and Materials could be next. We highlight buys in Technology (quickly becoming leadership again) and Consumer Discretionary/Retail </li>
</ul>


New multi-year highs on the MSCI ACWI, ACWI ex-US, EAFE, and EM indexes -- combined with overwhelmingly healthy market dynamics -- validates our bullish outlook on global equities.
We continue to view the latest 5-6% pullback on $ACWI as healthy and normal within the ongoing bull market, and we expect higher prices ahead.
Global Energy Sector appears to be topping, and Materials could be next. We highlight buys in Technology (quickly becoming leadership again) and Consumer Discretionary/Retail 


Global MSCI Indexes at Multi-Year Highs; Global Energy Sector Deteriorating, Is Materials Next?

SBI Cards & Payment Services / Event-Driven

<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 during the September 2024 index rebal event.</li>
<li>More than 50% of the 6-month reference period is now complete. There are a couple of changes to the expected ADDs/DELs list since my last insight.</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 during the September 2024 index rebal event.
More than 50% of the 6-month reference period is now complete. There are a couple of changes to the expected ADDs/DELs list since my last insight.


Quiddity Leaderboard NIFTY Sep 24: Strong Flow Rationale for LONG Jio Financial - SHORT SBI Cards

Equity Capital Markets

<ul>
<li>
<a href="https://www.smartkarma.com/entities/bundl-technologies-private-limited-swiggy" target="_blank" data-smartkarma-citation="entities:35630:1" rel="noopener">Swiggy</a> aims to raise US$1.25bn in its upcoming India IPO. The company has filed confidentially for its IPO, which is likely to be launched towards the end of the year.</li>
<li>Swiggy, along with Zomato, operates a duopoly that has come to dominate the food delivery market in India. In 1H24, Swiggy serviced over 274,000 restaurants via its 370,000 delivery partners.</li>
<li>In this note, we will take an early look at the company based on the publicly available financials. </li>
</ul>



Swiggy aims to raise US$1.25bn in its upcoming India IPO. The company has filed confidentially for its IPO, which is likely to be launched towards the end of the year.
Swiggy, along with Zomato, operates a duopoly that has come to dominate the food delivery market in India. In 1H24, Swiggy serviced over 274,000 restaurants via its 370,000 delivery partners.
In this note, we will take an early look at the company based on the publicly available financials. 


Swiggy Pre-IPO Early Look - Innovation Leader, Profitability Laggard

India

Info Edge (India) Limited operates an online job posting website. The website offers services for recruiters, job seekers, and employers. The Company also operates  an online matrimonial website for prospective brides, grooms, and relatives.

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Info Edge India (INFOE IN)

Quiddity Leaderboard NIFTY Sep 24: Multiple Changes Possible for NIFTY 50; Some New Trade Ideas

There are at least four names eligible for NIFTY 50 addition in September 2024. However, the final count ADDs and DELs will be a discretionary...

Janaghan Jeyakumar, CFA

Zomato Placement Lockup Expiry - US$800m Overhang

Antfin will come out of its placement linked lockup for its remaining stake in Zomato soon. In this note, we talk about the lockup dynamics.

Sumeet Singh

Global MSCI Indexes at Multi-Year Highs; Global Energy Sector Deteriorating, Is Materials Next?

There are few things more bullish than Global MSCI Indexes at Multi-Year Highs $ACWI $ACWX $EFA $EEM; Buys in Tech $TSM; Global Energy Sector...

Vermilion Research

Quiddity Leaderboard NIFTY Sep 24: Strong Flow Rationale for LONG Jio Financial - SHORT SBI Cards

SBI Cards is an expected DEL for NIFTY Next 50 in Sep 24 and BSE 100 in Jun 24. Jio Financial is an expected ADD for both BSE 100 and BSE 200 in...

Janaghan Jeyakumar, CFA

Swiggy Pre-IPO Early Look - Innovation Leader, Profitability Laggard

Swiggy aims to raise US$1.25bn in its upcoming India IPO. The company has filed confidentially for its IPO, which is likely to be launched towards...

Sumeet Singh

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