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 13 changes for the Nifty200 Momentum 30 Index that will be implemented at the close on 27 June.</li>
<li>Estimated one-way turnover is 42.3% resulting in a one-way trade of INR 32bn (US$384m). There are 13 stocks with over 0.5x ADV to trade, mostly on the deletes.</li>
<li>After steady outperformance over the last few months, there was a selloff in momentum names following the announcement of the election results. There has been a recovery since then.</li>
</ul>


There are 13 changes for the Nifty200 Momentum 30 Index that will be implemented at the close on 27 June.
Estimated one-way turnover is 42.3% resulting in a one-way trade of INR 32bn (US$384m). There are 13 stocks with over 0.5x ADV to trade, mostly on the deletes.
After steady outperformance over the last few months, there was a selloff in momentum names following the announcement of the election results. There has been a recovery since then.


NIFTY200 Momentum30 Index Rebalance: 13 Changes, 42% Turnover, Momentum Recovers After Selloff

Tracking developments across tech supply chains, Tech Supply Chain Tracker

Tech Supply Chain Tracker

Tracking developments across tech supply chains

Equity Bottom-Up

Hon Hai Precision Industry / Equity Bottom-Up

<ul><li>SK Hynix leads in next-gen HBM innovation, setting pace with Indian startup FermionIC aiming for market domination.</li><li>AMD releases new processors for data centers and PCs promising improved performance and efficiency with Instinct, Ryzen, and EPYC.</li><li>India partners with Taiwan for semiconductor ecosystem development, while Russia plans to produce 350nm chips with self-developed EUV machines in 2024.</li></ul>

SK Hynix leads in next-gen HBM innovation, setting pace with Indian startup FermionIC aiming for market domination.AMD releases new processors for data centers and PCs promising improved performance and efficiency with Instinct, Ryzen, and EPYC.India partners with Taiwan for semiconductor ecosystem development, while Russia plans to produce 350nm chips with self-developed EUV machines in 2024.

Tech Supply Chain Tracker (04-Jun-2024): Chinese semiconductors & tech.

India Equity Analyst - Fundamental & Thematic, Beat the Street

Sudarshan Bhandari

India Equity Analyst - Fundamental & Thematic

Beat the Street

Beat The Street was founded by Nimish Maheshwari and Sudarshan Bhandari, both of whom are Chartered Accountants by Profession, known for their expert analysis in the fields of Business, Sectoral analysis, and Corporate governance.

With a strong social media presence of 45,000+ Subscribers across various platforms, they are considered trusted voices in the industry. Their insights and analysis have been featured in some of India’s most prominent publications, including the Economic Times, Dalal Street Investment Journal, The Morning Context, and The Ken.

Their analysis on Bankrupt & Insolvent companies has been instrumental in saving investors from significant losses. They have a keen eye for identifying red flags and has identified exclusive redflags earlier in Vedanta, Nykaa, Dhani Services, Adani and many more.

Read Business Not Stock Prices

Thematic (Sector/Industry)

<ul>
<li>JLR to produce cars in India but for the first time</li>
<li>Reliance - Airtel may tussle on the African Markets after Indian Market</li>
<li>FII may show interest to Indian Markets to reap benefits of demographic dividends</li>
</ul>


JLR to produce cars in India but for the first time
Reliance - Airtel may tussle on the African Markets after Indian Market
FII may show interest to Indian Markets to reap benefits of demographic dividends


#1 India Insights : Tata Motors-JLR Strengthens Tie Ups, Reliance-Airtel Tussle and Macro Insights

<ul>
<li>With a week left in the review period, <a href="https://www.smartkarma.com/entities/bharti-airtel-ltd" target="_blank" data-smartkarma-citation="entities:953:1" rel="noopener">Bharti Airtel (BHARTI IN)</a> could replace <a href="https://www.smartkarma.com/entities/power-grid-corporation-of-india-limited" target="_blank" data-smartkarma-citation="entities:12621:1" rel="noopener">Power Grid Corporation Of India (PWGR IN)</a> in the Nifty100 Low Volatility 30 Index in June.</li>
<li>Constituent changes, volatility changes and capping changes will result in one-way turnover of 6.4% resulting in a one-way trade of INR 2.3bn.</li>
<li>The flows on the stocks are not very large but there will be same side and offsetting flows from other index trackers at the same time.</li>
</ul>


With a week left in the review period, Bharti Airtel (BHARTI IN) could replace Power Grid Corporation Of India (PWGR IN) in the Nifty100 Low Volatility 30 Index in June.
Constituent changes, volatility changes and capping changes will result in one-way turnover of 6.4% resulting in a one-way trade of INR 2.3bn.
The flows on the stocks are not very large but there will be same side and offsetting flows from other index trackers at the same time.


NIFTY100 Low Volatility 30 Index Rebalance Preview: Bharti Could Replace Power Grid

<ul>
<li>
<a href="https://www.smartkarma.com/entities/trent-ltd" target="_blank" data-smartkarma-citation="entities:8410:1" rel="noopener">Trent Ltd (TRENT IN)</a> and <a href="https://www.smartkarma.com/entities/bharat-electronics-ltd" target="_blank" data-smartkarma-citation="entities:6636:1" rel="noopener">Bharat Electronics (BHE IN)</a> should replace <a href="https://www.smartkarma.com/entities/ltimindtree-ltd" target="_blank" data-smartkarma-citation="entities:22778:1" rel="noopener">LTIMindtree (LTIM IN)</a> and <a href="https://www.smartkarma.com/entities/divi-s-laboratories-ltd" target="_blank" data-smartkarma-citation="entities:4871:1" rel="noopener">Divi's Laboratories (DIVI IN)</a> in 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> in September.</li>
<li>
<a href="https://www.smartkarma.com/entities/jio-financial-services-limited" target="_blank" data-smartkarma-citation="entities:40042:1" rel="noopener">Jio Financial Services (JIOFIN IN)</a> and <a href="https://www.smartkarma.com/entities/zomato-ltd" target="_blank" data-smartkarma-citation="entities:28820:1" rel="noopener">Zomato (ZOMATO IN)</a> meet the free float market cap requirements but are not part of the F&amp;O segment.</li>
<li>Passive <a href="https://www.smartkarma.com/entities/nifty-index" target="_blank" data-smartkarma-citation="entities:23617:1" rel="noopener">NIFTY Index (NIFTY INDEX)</a> trackers will need to trade at least 3.8 days of ADV and 9 days of delivery volume on the index changes.</li>
</ul>



Trent Ltd (TRENT IN) and Bharat Electronics (BHE IN) should replace LTIMindtree (LTIM IN) and Divi's Laboratories (DIVI IN) in the NIFTY Index (NIFTY INDEX) in September.

Jio Financial Services (JIOFIN IN) and Zomato (ZOMATO IN) meet the free float market cap requirements but are not part of the F&amp;O segment.
Passive NIFTY Index (NIFTY INDEX) trackers will need to trade at least 3.8 days of ADV and 9 days of delivery volume on the index changes.


NIFTY50 Index Rebalance Preview: Two High Probability Changes in September; Adds Are Flying

India

Adani Transmission Limited provides utility services. The Company offers electricity generation, transmission, and distribution services. Adani Transmission conducts its business globally.

Torrent Power Limited generates, transmits and distributes power. The Company also implements large power projects in India.

SJVN Limited develops, owns, and operates Hydro-electric power projects in India. The Company operates power generating plants in states that include Himachal Pradesh,

CESC Limited generates and supplies electricity in and around Kolkata. The Company also provides consultancy services for setting up power plants and for erecting transformers and electrical equipment.

India Grid Trust operates as an infrastructure investment trust. The Company invests, designs, finances, constructs, and maintains power transmission projects. India Grid Trust serves customers in India.

Reliance Infrastructure Ltd. generates, distributes, and transmits electricity. The Company also builds highways, roads, bridges, rapid transit systems, airports, and other projects. Reliance Infrastructure is a member of the Reliance Anil Dhirubhai Ambani Group.

JSW Energy Limited generates power by using Corex gas and coal. The Company, through its subsidiary, also operates lignite thermal power plant in Rajasthan and has a capacity to produce 3,140 megawatts of electricity. JSW is also present in the power trading and transmission businesses.

GAIL India Limited processes and distributes natural gas and liquefied petroleum gas. The Company is a Government of India undertaking.

NHPC Ltd is a hydro-power development company based in India. The Company has constructed approximately 11 hydro-power projects in India and abroad with a total installed capacity of 2554.35 MW.

Gujarat Gas Limited provides natural gas. The Company supplies piped natural gas to residential, commercial, and industrial customers. Gujarat Gas serves customers in India.

CK Infrastructure Holdings Limited (CKI) operates as a real assets investment company. The Company invests in energy, transportation, water, and electricity generation sectors. CKI serves customers worldwide.

Tenaga Nasional Berhad transmits, distributes, and sells electricity under license issued by the Director General of Electricity Supply. Through its subsidiaries, the Company manufactures, sells and repairs transformers and switchgears. Tenaga Nasional also provides project management and consultancy, engineering works and energy project development services.

Brookfield Infrastructure Partners LP owns and operates infrastructure assets. The Company operates utilities, transport, energy, and communications infrastructure assets in North and South America, Australia, and Europe.

Brookfield Infrastructure Partners L.P. (BIP US)

Alliant Energy Corporation provides public-utility service to customers in the Midwest.  The Company's utility subsidiaries serve electric, natural gas, and water customers in Illinois, Iowa, Minnesota, and Wisconsin.

The Kansai Electric Power Company, Incorporated generates electricity from hydroelectric, thermal, geothermal, and nuclear power sources.  The Company distributes electricity to Osaka and the surrounding Kansai area.  Kansai Electric also constructs and maintains electrical power facilities.

Terna - Rete Elettrica Nazionale SpA transmits electricity over the high-voltage and extra-high voltage grid in Italy.  Through subsidiaries, the Company owns a substantial share of the national electricity transmission grid.

Terna - Rete Elettrica Nazionale (TRN IM)

EDP - Energias de Portugal, S.A. generates, supplies and distributes electricity and the supply of gas in Portugal and Spain. Through subsidiaries, the Company is involved with electricity distribution, generation and supply in Brazil, and wind power promotion, construction and operations in Spain, Portugal, France and Belgium.

Fortum Oyj provides a full range of energy related products and services. The Company's activities cover the generation, distribution, and sale of electricity and heat and steam, as well as the operation of power plants and energy-related services. Fortum operates worldwide but mainly in Northern Europe.

Hydro One Limited is an electrical transmission and distribution utility in Ontario. The company delivers electricity safely and reliably to customers across the province, and to large industrial customers and municipal utilities. Hydro One owns and operates Ontario's transmission and low-voltage distribution network.

Centrais Eletricas Brasileiras S.A. (Eletrobras) generates, transmits, and markets electricity through regional companies in Brazil.  The Company plans, finances, coordinates, and supervises expansion projects for its subsidiaries.

Tata Power Company Limited generates and supplies electricity in Mumbai and its suburbs. The Company also constructs and operates independent power plants as well as captive power plants for industrial concerns. Tata Power also provides various services related to electricity distribution, erects and commissions transmission lines, and is diversifying into the telecommunications market.

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Tata Power (TPWR IN)

NIFTY200 Momentum30 Index Rebalance: 13 Changes, 42% Turnover, Momentum Recovers After Selloff

There are 13 changes for the Nifty200 Momentum 30 Index. Estimated one-way turnover is 42.3% resulting in a one-way trade of INR 32bn. The adds...

Brian Freitas

Tech Supply Chain Tracker (04-Jun-2024): Chinese semiconductors & tech.

China's semiconductor industry advances as SK Hynix leads in innovation, AMD releases new processors, Indian startup FermionIC aims for market...

Tech Supply Chain Tracker

#1 India Insights : Tata Motors-JLR Strengthens Tie Ups, Reliance-Airtel Tussle and Macro Insights

Big Insights on India : JLR to begin car production in India, Reliance and Airtel may compete in African markets, and FIIs eye Indian markets for...

Sudarshan Bhandari

NIFTY100 Low Volatility 30 Index Rebalance Preview: Bharti Could Replace Power Grid

Bharti Airtel could replace Power Grid in the Nifty100 Low Volatility 30 Index in June. Constituent, volatility and capping changes result in 1-way...

Brian Freitas

NIFTY50 Index Rebalance Preview: Two High Probability Changes in September; Adds Are Flying

Trent and Bharat Electronics could replace LTIM and Divi in the index in September. JioFin and Zomato are ineligible since not in F&O. Impact on...

Brian Freitas

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

NIFTY200 Momentum30 Index Rebalance: 13 Changes, 42% Turnover, Momentum Recovers After Selloff

There are 13 changes for the Nifty200 Momentum 30 Index. Estimated one-way turnover is 42.3% resulting in a one-way trade of INR 32bn. The adds...

Brian Freitas

Tech Supply Chain Tracker (04-Jun-2024): Chinese semiconductors & tech.

China's semiconductor industry advances as SK Hynix leads in innovation, AMD releases new processors, Indian startup FermionIC aims for market...

Tech Supply Chain Tracker

#1 India Insights : Tata Motors-JLR Strengthens Tie Ups, Reliance-Airtel Tussle and Macro Insights

​Big Insights on India : JLR to begin car production in India, Reliance and Airtel may compete in African markets, and FIIs eye Indian markets for...

Sudarshan Bhandari

NIFTY100 Low Volatility 30 Index Rebalance Preview: Bharti Could Replace Power Grid

Bharti Airtel could replace Power Grid in the Nifty100 Low Volatility 30 Index in June. Constituent, volatility and capping changes result in 1-way...

Brian Freitas

NIFTY50 Index Rebalance Preview: Two High Probability Changes in September; Adds Are Flying

Trent and Bharat Electronics could replace LTIM and Divi in the index in September. JioFin and Zomato are ineligible since not in F&O. Impact on...

Brian Freitas

Big Insights on India : JLR to begin car production in India, Reliance and Airtel may compete in African markets, and FIIs eye Indian markets for...