Equity Long-Short Analyst

Pyari Menon

Thematic (Sector/Industry)

<ul>
<li>The three companies we write about this week are <strong><a href="https://www.smartkarma.com/entities/tata-consultancy-svcs-ltd" target="_blank" data-smartkarma-citation="entities:18708:1" rel="noopener">Tata Consultancy Svcs (TCS IN)</a> , <a href="https://www.smartkarma.com/entities/lg-chem-ltd" target="_blank" data-smartkarma-citation="entities:3583:1" rel="noopener">LG Chem Ltd (051910 KS)</a> and <a href="https://www.smartkarma.com/entities/cj-cheiljedang-corp" target="_blank" data-smartkarma-citation="entities:1970:1" rel="noopener">CJ Cheiljedang (097950 KS)</a></strong>   </li>
<li>For the nineteen weeks since inception ended 31 March the combined innovation portfolio was +2.4%, versus DJIA -1.4%, S&amp;P500 +3.6%, Nasdaq +9.7%, Russell2000 -2.6%, MSCI-ACWI-ETF +4.9%, all in US$ terms</li>
<li>For the nineteen since inception ended 31 March the small cap portfolio was up 8.0%, the mid cap portfolio was up 3.2% and the large cap portfolio was up 2.1%</li>
</ul>


The three companies we write about this week are Tata Consultancy Svcs (TCS IN) , LG Chem Ltd (051910 KS) and CJ Cheiljedang (097950 KS)   
For the nineteen weeks since inception ended 31 March the combined innovation portfolio was +2.4%, versus DJIA -1.4%, S&amp;P500 +3.6%, Nasdaq +9.7%, Russell2000 -2.6%, MSCI-ACWI-ETF +4.9%, all in US$ terms
For the nineteen since inception ended 31 March the small cap portfolio was up 8.0%, the mid cap portfolio was up 3.2% and the large cap portfolio was up 2.1%


The Innovations Portfolios - Week Nineteen

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>Last week we discussed potential for a 2-5% rally to the 1.5-month downtrend on SPX, or even the 4165-4200 range, which would set up an opportunity to get more defensive.</li>
<li>As long as the S&amp;P 500 is below Wednesdays high of 4040 we continue to believe the bears are in control -- stay defensive.</li>
<li>Even if there is a reversal, we still expect 4165-4200 on SPX to cap upside for 2023. We highlight many buy opportunities within Consumer Staples</li>
</ul>


Last week we discussed potential for a 2-5% rally to the 1.5-month downtrend on SPX, or even the 4165-4200 range, which would set up an opportunity to get more defensive.
As long as the S&amp;P 500 is below Wednesdays high of 4040 we continue to believe the bears are in control -- stay defensive.
Even if there is a reversal, we still expect 4165-4200 on SPX to cap upside for 2023. We highlight many buy opportunities within Consumer Staples


S&P 500, Nasdaq 100, DJIA All Testing Resistance; Downgrading Financials to Underweight; Buy Staples

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

Honasa Consumer  / Equity Capital Markets

<ul>
<li>Honasa Consumer (HC) is looking to raise about US$350m in its upcoming India IPO.</li>
<li>HC’s product portfolio includes products in the baby care, face care, body care, hair care, color cosmetics and fragrances segments.</li>
<li>In this note, we will talk about the not-so-positive aspects of the deal.</li>
</ul>


Honasa Consumer (HC) is looking to raise about US$350m in its upcoming India IPO.
HC’s product portfolio includes products in the baby care, face care, body care, hair care, color cosmetics and fragrances segments.
In this note, we will talk about the not-so-positive aspects of the deal.


Honasa Consumer Pre-IPO - The Negatives - Ad Spending Keeping Profits Low

<ul>
<li>Honasa Consumer (HC) is looking to raise about US$350m in its upcoming India IPO.</li>
<li>HC’s product portfolio includes products in the baby care, face care, body care, hair care, color cosmetics and fragrances segments. </li>
<li>In this note, we will talk about the positive aspects of the deal.</li>
</ul>


Honasa Consumer (HC) is looking to raise about US$350m in its upcoming India IPO.
HC’s product portfolio includes products in the baby care, face care, body care, hair care, color cosmetics and fragrances segments. 
In this note, we will talk about the positive aspects of the deal.


Honasa Consumer Pre-IPO - The Positives - New Age DTC Brand

<ul>
<li>The three companies we write about this week are <a href="https://www.smartkarma.com/entities/nike-inc-cl-b" target="_blank" data-smartkarma-citation="entities:6658:1" rel="noopener">Nike (NKE US)</a> , <a href="https://www.smartkarma.com/entities/capital-one-financial-corp" target="_blank" data-smartkarma-citation="entities:255:1" rel="noopener">Capital One Financial (COF US)</a> and <a href="https://www.smartkarma.com/entities/under-armour-inc" target="_blank" data-smartkarma-citation="entities:11401:1" rel="noopener">Under Armour (UAA US)</a> </li>
<li>For the thirteen weeks since inception ended 17 Feb the combined innovation portfolio was +2.4%, versus DJIA +0.2%, S&amp;P500 +2.9%, Nasdaq +5.8%, Russell2000 +5.2%, MSCI-ACWI-ETF +4.3%, all in US$ terms</li>
<li>This week the large-cap portfolio underperformed on a mini <a href="https://www.smartkarma.com/entities/taiwan-semiconductor-sp-adr" target="_blank" data-smartkarma-citation="entities:8587:1" rel="noopener">Taiwan Semiconductor (TSMC) - ADR (TSM US)</a> sell-off while <a href="https://www.smartkarma.com/entities/10x-genomics-inc-class-a" target="_blank" data-smartkarma-citation="entities:35564:1" rel="noopener">10X Genomics (TXG US)</a> was strong in the small caps group. </li>
</ul>


The three companies we write about this week are Nike (NKE US) , Capital One Financial (COF US) and Under Armour (UAA US) 
For the thirteen weeks since inception ended 17 Feb the combined innovation portfolio was +2.4%, versus DJIA +0.2%, S&amp;P500 +2.9%, Nasdaq +5.8%, Russell2000 +5.2%, MSCI-ACWI-ETF +4.3%, all in US$ terms
This week the large-cap portfolio underperformed on a mini Taiwan Semiconductor (TSMC) - ADR (TSM US) sell-off while 10X Genomics (TXG US) was strong in the small caps group. 


The Innovations Portfolio - Week Thirteen

United States

The Procter & Gamble Company manufactures and markets consumer products in countries throughout the world. The Company provides products in the laundry and cleaning, paper, beauty care, food and beverage, and health care segments. Procter & Gamble products are sold primarily through mass merchandisers, grocery stores, membership club stores, drug stores, and neighborhood stores.

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Procter & Gamble Co (PG US)

The Innovations Portfolios - Week Nineteen

For the nineteen since inception ended 31 March the innovation small cap portfolio was up 8.0%, the innovation mid cap portfolio was up 3.2% and...

Pyari Menon

S&P 500, Nasdaq 100, DJIA All Testing Resistance; Downgrading Financials to Underweight; Buy Staples

Last week (3/21) we discussed the potential for a 2-5% rally to the 1.5-month downtrend on the $SPX, or even the 4165-4200 range, which we noted...

Vermilion Research

Honasa Consumer Pre-IPO - The Negatives - Ad Spending Keeping Profits Low

Honasa Consumer (HC) is looking to raise about US$350m in its upcoming India IPO. In this note, we talk about the not-so-positive aspects of the deal.

Sumeet Singh

Honasa Consumer Pre-IPO - The Positives - New Age DTC Brand

Honasa Consumer, a DTC beauty and personal care brand, is looking to raise about US$350m in its upcoming India IPO. In this note, we will talk...

Sumeet Singh

The Innovations Portfolio - Week Thirteen

For the thirteen weeks since inception ended 17 Feb the combined innovation portfolio was +2.4%, versus DJIA +0.2%, S&P500 +2.9%, Nasdaq +5.8%,...

Pyari Menon

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