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>We are initiating coverage on Oberoi Realty Ltd. with a BUY recommendation and a target price of Rs 2,560/share, which implies an upside of 21% from the CMP.</li><li>Oberoi Realty is a leading player in Mumbai, specializing in developments across residential, retail, hospitality, and social infrastructure segments.</li><li>It is one of the strongest brands in the Mumbai Metropolitan Region.</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.

We are initiating coverage on Oberoi Realty Ltd. with a BUY recommendation and a target price of Rs 2,560/share, which implies an upside of 21% from the CMP.Oberoi Realty is a leading player in Mumbai, specializing in developments across residential, retail, hospitality, and social infrastructure segments.It is one of the strongest brands in the Mumbai Metropolitan Region.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.

Oberoi Realty Ltd - Luxury, Leverage, and Leadership - Oberoi’s Growth Formula

External broker reports(aggregated public sources), Motilal Oswal Financial Services Limited

Motilal Oswal

Motilal Oswal Financial Services Limited

Motilal Oswal Financial Services Limited is an Indian diversified financial services firm offering a range of financial products and 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.

<ul><li>Oberoi Realty’s (OBER) pre-sales grew 49% YoY to INR14.4b (80% above estimate) in 2QFY25, driven by strong bookings at ‘360-West’ project in Worli, which contributed INR6.6b to pre-sales across bookings of six units.</li><li>Elysian Goregaon’s pre-sales jumped 147% YoY to INR3.2b after the successful launch of the third tower in 4QFY24.</li><li>Sales traction was weak at Borivali (INR1.3b), while at Mulund (INR2.7b), it was higher by 25% YoY and doubled sequentially.</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.

Oberoi Realty’s (OBER) pre-sales grew 49% YoY to INR14.4b (80% above estimate) in 2QFY25, driven by strong bookings at ‘360-West’ project in Worli, which contributed INR6.6b to pre-sales across bookings of six units.Elysian Goregaon’s pre-sales jumped 147% YoY to INR3.2b after the successful launch of the third tower in 4QFY24.Sales traction was weak at Borivali (INR1.3b), while at Mulund (INR2.7b), it was higher by 25% YoY and doubled sequentially.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.

Oberoi Realty - Stellar Sales in 360-West and Elysian Boost Growth

Asset Allocation & Fund Positioning, Copley Fund Research

Steven Holden

Asset Allocation & Fund Positioning

Copley Fund Research

Copley Fund Research provide research and data on asset allocation among Global and Emerging Market equity funds.  The analysis details absolute and relative positioning across countries, sectors and industries together with highly granular data on single stock and single fund allocations.  The data is updated monthly with time series going back to January 2011.

Global Research - Analysis of 165 prominent Global equity funds, combined AUM $335bn
GEM Research - Analysis of 127 prominent global EM equity funds, combined AUM $250bn

Asset Allocation - Global and GEM Equity

Thematic (Sector/Industry)

<ul>
<li>Real Estate exposure among active Emerging Market funds is rebounding after a decade-long bear market from 2012-2022.</li>
<li>Average weights are at their highest levels in 10 years. Despite this recovery, Real Estate remains a "non-essential" sector, with 23% of funds avoiding exposure entirely.</li>
<li>Country-Level trends highlight a rotation from China into the U.A.E, driven by record-high fund ownership in names like <a href="https://www.smartkarma.com/entities/emaar-properties-pjsc-004c637d-b17a-4c9b-849b-0c89d3b1f6b4" target="_blank" data-smartkarma-citation="entities:25955:1" rel="noopener">Emaar Properties Pjsc (EMAAR UH)</a> and <a href="https://www.smartkarma.com/entities/aldar-properties-pjsc" target="_blank" data-smartkarma-citation="entities:27654:1" rel="noopener">Aldar Properties PJSC (ALDAR UH)</a>
</li>
</ul>


Real Estate exposure among active Emerging Market funds is rebounding after a decade-long bear market from 2012-2022.
Average weights are at their highest levels in 10 years. Despite this recovery, Real Estate remains a "non-essential" sector, with 23% of funds avoiding exposure entirely.
Country-Level trends highlight a rotation from China into the U.A.E, driven by record-high fund ownership in names like Emaar Properties Pjsc (EMAAR UH) and Aldar Properties PJSC (ALDAR UH)



Real Estate:  Recovery Among Active GEM Funds

<ul><li>Motilal Oswal's research report onOberoi Realty Despite strong demand tailwinds, OBER’s pre-sales were stagnant over FY21-23 due to the lack of key launches.</li><li>However, it has launched a new project at Kolshet Road (Thane) and a new tower at Elysian (Goregaon) in 2HFY24, which will drive 23% YoY growth in pre-sales to INR40b in FY24.</li><li>The company is now gearing up for the launch of the initial phase (2msf) of its flagship project at Pokhran Road (Thane), a luxury project at Peddar Road (South Mumbai) and a new tower at Skycity (Borivali) in 2HFY25. </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.

Motilal Oswal's research report onOberoi Realty Despite strong demand tailwinds, OBER’s pre-sales were stagnant over FY21-23 due to the lack of key launches.However, it has launched a new project at Kolshet Road (Thane) and a new tower at Elysian (Goregaon) in 2HFY24, which will drive 23% YoY growth in pre-sales to INR40b in FY24.The company is now gearing up for the launch of the initial phase (2msf) of its flagship project at Pokhran Road (Thane), a luxury project at Peddar Road (South Mumbai) and a new tower at Skycity (Borivali) in 2HFY25. 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.

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

Event-Driven

<ul>
<li>There are 19 changes a side for the Nifty200 Momentum30 Index that will be implemented at the close on 30 December. All names are exactly in line with our forecast.</li>
<li>Estimated one-way turnover is 64.9% resulting in a one-way trade of INR 72.7bn (US$857m). There are 18 stocks with over 1x ADV to trade.</li>
<li>The adds have continued to outperform the deletes even after the end of the review period. There could be further upside heading into year-end and implementation of the changes.</li>
</ul>


There are 19 changes a side for the Nifty200 Momentum30 Index that will be implemented at the close on 30 December. All names are exactly in line with our forecast.
Estimated one-way turnover is 64.9% resulting in a one-way trade of INR 72.7bn (US$857m). There are 18 stocks with over 1x ADV to trade.
The adds have continued to outperform the deletes even after the end of the review period. There could be further upside heading into year-end and implementation of the changes.


NIFTY200 Momentum30 Index Rebalance: 38 Changes; 65% Turnover; US$1.7bn Trade

India

Oberoi Realty LTD., is a real estate development company operating in Mumbai, focused on premium developments. The Company's main focus is residential projects but they also have a diversified portfolio of projects covering segments of the real estate market, which target the upper end of the respective income or market segment.

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Oberoi Realty (OBER IN)

Oberoi Realty Ltd - Luxury, Leverage, and Leadership - Oberoi’s Growth Formula

We are initiating coverage on Oberoi Realty Ltd. with a BUY recommendation and a target price of Rs 2,560/share, which implies an upside of 21%...

Axis Direct

Oberoi Realty - Stellar Sales in 360-West and Elysian Boost Growth

Oberoi Realty’s (OBER) pre-sales grew 49% YoY to INR14.4b (80% above estimate) in 2QFY25, driven by strong bookings at ‘360-West’ project in Worli

Motilal Oswal

Real Estate: Recovery Among Active GEM Funds

Real Estate exposure among active Emerging Market funds is rebounding after a decade-long bear market from 2012-2022, with the U.A.E leading the...

Steven Holden

Neutral Oberoi Realty; target of Rs 1390

Motilal Oswal's research report onOberoi Realty Despite strong demand tailwinds, OBER’s pre-sales were stagnant over FY21-23 due to the lack of key...

Motilal Oswal

NIFTY200 Momentum30 Index Rebalance: 38 Changes; 65% Turnover; US$1.7bn Trade

There are 19 changes a side and all names are in line with our forecast. Estimated one-way turnover is 64.9% resulting in a one-way trade of INR...

Brian Freitas

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