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>The S&amp;P BSE family of indices represents the performance of stocks listed on the Bombay Stock Exchange (BSE) across various sizes, themes, industries, and strategies.</li>
<li>This series will mainly focus on the following indices of the S&amp;P BSE family: S&amp;P BSE 500, S&amp;P BSE 200, S&amp;P BSE 100, and S&amp;P BSE SENSEX.</li>
<li>In this insight, we take a look at the leading candidates who could become Adds/Deletes during the June 2022 Semi-annual Rebalance.</li>
</ul>


The S&amp;P BSE family of indices represents the performance of stocks listed on the Bombay Stock Exchange (BSE) across various sizes, themes, industries, and strategies.
This series will mainly focus on the following indices of the S&amp;P BSE family: S&amp;P BSE 500, S&amp;P BSE 200, S&amp;P BSE 100, and S&amp;P BSE SENSEX.
In this insight, we take a look at the leading candidates who could become Adds/Deletes during the June 2022 Semi-annual Rebalance.


S&P BSE Indices (SENSEX Family): Quiddity Leaderboard for June 2022 Rebalance

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

Shanghai Stock Exchange Composite Index / Technical Analysis

<p>While there are always exceptions at the individual stock level, MSCI Emerging Markets (EEM-US) and Japan (TOPIX, TOPIX Small) have been some of the weaker areas to invest throughout 2021. We now see early signs of positive change and we recommend adding exposure to emerging markets and Japan.</p>

While there are always exceptions at the individual stock level, MSCI Emerging Markets (EEM-US) and Japan (TOPIX, TOPIX Small) have been some of the weaker areas to invest throughout 2021. We now see early signs of positive change and we recommend adding exposure to emerging markets and Japan.

Buying Opportunities Within Emerging Markets and Japan; US Dollar Failing At 93.50

Consumer Analyst / Channel Surveillance Specialist, Trudence Capital Advisors

Pranav Bhavsar

Consumer Analyst / Channel Surveillance Specialist

Trudence Capital Advisors

Trudence Capital Advisors Private Limited is a SEBI-registered Research Analyst, holding SEBI registration number INH000015747. Our firm is dedicated to providing independent and unbiased research on Indian mid to large-cap companies. Trudence Capital is known for its counter-consensus views, with a focus on forensic research and on-ground primary investigations. Our research approach is thorough, involving detailed analysis of accounting practices and governance, alongside extensive channel checks.

Independent & Unbiased Research

Equity Bottom-Up

<div>
<h2>About India Channel Insight</h2>
</div>
<div>
<p>Our objective with India Channel Insight is to share snippets from our channel interactions that are part of our research process. These snippets can potentially be signals for larger themes/ideas emerging out of these interactions.  </p>
</div>
<div>
<p>For this insight, we focus on <a href="https://www.smartkarma.com/entities/easemytrip" target="_blank" data-smartkarma-citation="entities:28897:1" rel="noopener">EaseMyTrip (0896537D IN)</a> with an objective to understand it's on-ground competitiveness; <a href="https://www.smartkarma.com/entities/matrimony-com" target="_blank" data-smartkarma-citation="entities:22922:1" rel="noopener">Matrimony.com (MATRIM IN)</a> where Q3 is hinting at a change in stance compared to our earlier view and a sourcing channel of <a href="https://www.smartkarma.com/entities/trent-ltd" target="_blank" data-smartkarma-citation="entities:8410:1" rel="noopener">Trent Ltd (TRENT IN) </a>to understand the growth prospects ahead. </p>
</div>


About India Channel Insight


Our objective with India Channel Insight is to share snippets from our channel interactions that are part of our research process. These snippets can potentially be signals for larger themes/ideas emerging out of these interactions.  


For this insight, we focus on EaseMyTrip (0896537D IN) with an objective to understand it's on-ground competitiveness; Matrimony.com (MATRIM IN) where Q3 is hinting at a change in stance compared to our earlier view and a sourcing channel of Trent Ltd (TRENT IN) to understand the growth prospects ahead. 


India Channel Insight | Easemytrip, Matrimony.com, Trent

Asia Consumer Research, Investory

Devi Subhakesan

Asia Consumer Research

ASIA CONSUMER: INSIGHTS AND INVESTMENT IDEAS

Investory

Investory is a Singapore-based boutique independent equity research firm founded in January 2017 with a primary focus on consumption themes across Asia-Pacific.

We aim to generate investible ideas based on consumption trends and outlook. We screen our ideas on several parameters - product potential, long-term growth and management commitment being the most critical.  We follow a fundamental analysis approach in our stock selection process and are not restricted by market cap.

We aspire to grow into a leading source of unbiased research, free of conflict of interest, for investors yearning for independent and disciplined analysis. 

We also undertake bespoke research mandates to support our Institutional clients’ investment needs.

Our team comprises of professionals with extensive experience in the Asian equity markets, in areas ranging from research, servicing institutional clients and investment management.

Private Capital Markets

<p>Tatas, India's leading Conglomerate business group, is <a href="https://www.bloomberg.com/news/articles/2020-12-02/tata-said-near-deal-to-buy-alibaba-backed-indian-online-grocer?sref=SVEekGzB" target="_blank" rel="noopener">reportedly</a> in talks to acquire 80% stake in the country's leading Online grocery vertical <strong>Bigbasket, </strong>where <a href="https://www.smartkarma.com/entities/alibaba-group-holding-ltd" target="_blank" data-smartkarma-citation="entities:787:1" rel="noopener">Alibaba Group (BABA US)</a> holds upto 30% of ownership stake. India's Retail sector has been a hot bed of M&amp;A activity (and litigations) involving  the big and mighty over the recent months. India's nascent online grocery retail nearly doubled in sales this year thanks to COVID-led disruptions in physical retail. Existing online verticals, <a href="https://www.smartkarma.com/entities/alibaba-group-holding-ltd" target="_blank" data-smartkarma-citation="entities:787:1" rel="noopener">Alibaba Group (BABA US)</a> backed Bigbasket and <a href="https://www.smartkarma.com/entities/softbank-group-corp" target="_blank" data-smartkarma-citation="entities:315:1" rel="noopener">Softbank Group (9984 JP)</a> backed Grofers were reportedly planning a fresh round of  fund raising to build up infrastructure to cater to the swelling demand and counter rising competition. However, all's not been well with overseas fund raising in India. </p><p>In the detailed note below, we look at (1) Reported deal specifics and valuation (2) Likely Rationale behind the deal (3) India's nascent online grocery landscape and (4) how COVID and consolidation have been impacting India's e-grocery sector.</p>

Tatas, India's leading Conglomerate business group, is reportedly in talks to acquire 80% stake in the country's leading Online grocery vertical Bigbasket, where Alibaba Group (BABA US) holds upto 30% of ownership stake. India's Retail sector has been a hot bed of M&amp;A activity (and litigations) involving  the big and mighty over the recent months. India's nascent online grocery retail nearly doubled in sales this year thanks to COVID-led disruptions in physical retail. Existing online verticals, Alibaba Group (BABA US) backed Bigbasket and Softbank Group (9984 JP) backed Grofers were reportedly planning a fresh round of  fund raising to build up infrastructure to cater to the swelling demand and counter rising competition. However, all's not been well with overseas fund raising in India. In the detailed note below, we look at (1) Reported deal specifics and valuation (2) Likely Rationale behind the deal (3) India's nascent online grocery landscape and (4) how COVID and consolidation have been impacting India's e-grocery sector.

BABA Backed BigBasket to Go to TATAs: Round 2 of India Retail Sector M&A

ASA Capital Management

ASA Capital Management is a boutique Research and Investment Advisory firm focusing on primary research in India. ASA provides bespoke research services to Institutional Clients with a focus on due diligence backed with primary research, Field Trips & Channel Checks.

<p>This monthly insight aims to provide the narrative behind the monthly data points we have previously published. The monthly data points published are described in the following insights:</p>
<ul>
<li>
<a href="https://www.smartkarma.com/insights/alternative-data-india-consumer-tracker-recovery-continues" target="_blank" data-smartkarma-citation="insights:42245" rel="noopener">Alternative Data | India Consumer Tracker - Recovery Continues</a> </li>
<li>
<a href="https://www.smartkarma.com/insights/alternative-data-india-consumer-tracker-rural-india-is-firing-recovery" target="_blank" data-smartkarma-citation="insights:41423" rel="noopener">Alternative Data | India Consumer Tracker - Rural India Is Firing Recovery</a> </li>
</ul>
<p>Other postcards written by us include the following:</p>
<ul>
<li>
<a href="https://www.smartkarma.com/insights/postcard-from-lucknow-india-the-road-to-usd-5-trillion" target="_blank" data-smartkarma-citation="insights:34882" rel="noopener">Postcard from Lucknow (India) | The Road to USD 5 Trillion</a> </li>
<li>
<a href="https://www.smartkarma.com/insights/postcard-from-surat-india-studded-jewellery-unlikely-to-aid-in-margin-expansion-for-titan" target="_blank" data-smartkarma-citation="insights:28437" rel="noopener">Postcard from Surat (India) | Studded Jewellery Unlikely to Aid in Margin Expansion for Titan</a> </li>
</ul>

This monthly insight aims to provide the narrative behind the monthly data points we have previously published. The monthly data points published are described in the following insights:


Alternative Data | India Consumer Tracker - Recovery Continues 

Alternative Data | India Consumer Tracker - Rural India Is Firing Recovery 

Other postcards written by us include the following:


Postcard from Lucknow (India) | The Road to USD 5 Trillion 

Postcard from Surat (India) | Studded Jewellery Unlikely to Aid in Margin Expansion for Titan 


Postcard from the North East | Savings Now Running Out; Market Share Gains for Organised Players

India

Trent Limited operates a chain of retail stores that sell fashion apparel, cosmetics, perfumery products and toiletry items. The Company sells apparel for men, women and children. Trent sells its cosmetics products under the "Westside" and "Trent" brand names.

Price Gauge
52-week Range	0.00 - 0.00
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Trent Ltd (TRENT IN)

S&P BSE Indices (SENSEX Family): Quiddity Leaderboard for June 2022 Rebalance

In this insight, we take a look at the leading candidates who could become Adds/Deletes during the June 2022 Semi-annual Rebalance for S&P BSE 500,...

Janaghan Jeyakumar, CFA

Buying Opportunities Within Emerging Markets and Japan; US Dollar Failing At 93.50

MSCI Emerging Markets (EEM-US) and Japan (TOPIX, TOPIX Small) have been some of the weaker areas to invest throughout 2021. We now see early signs...

Vermilion Research

India Channel Insight | Easemytrip, Matrimony.com, Trent

Our objective with India Channel Insight is to share snippets from our channel interactions that are part of our research process. For this insight...

Pranav Bhavsar

BABA Backed BigBasket to Go to TATAs: Round 2 of India Retail Sector M&A

Alibaba backed India eGrocer, BigBasket, to be sold to Tatas. Reported valuation multiples imply a discount vs last round of funding. Despite...

Devi Subhakesan

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

S&P BSE Indices (SENSEX Family): Quiddity Leaderboard for June 2022 Rebalance

In this insight, we take a look at the leading candidates who could become Adds/Deletes during the June 2022 Semi-annual Rebalance for S&P BSE 500,...

Janaghan Jeyakumar, CFA

Buying Opportunities Within Emerging Markets and Japan; US Dollar Failing At 93.50

MSCI Emerging Markets (EEM-US) and Japan (TOPIX, TOPIX Small) have been some of the weaker areas to invest throughout 2021. We now see early signs...

Vermilion Research

India Channel Insight | Easemytrip, Matrimony.com, Trent

Our objective with India Channel Insight is to share snippets from our channel interactions that are part of our research process. For this insight...

Pranav Bhavsar

BABA Backed BigBasket to Go to TATAs: Round 2 of India Retail Sector M&A

Alibaba backed India eGrocer, BigBasket, to be sold to Tatas. Reported valuation multiples imply a discount vs last round of funding. Despite...

Devi Subhakesan

Postcard from the North East | Savings Now Running Out; Market Share Gains for Organised Players

Thie Monthly Insight ai

Pranav Bhavsar