APAC IPOs & Placements, Aequitas Research

Akshat Shah

APAC 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

P N Gadgil Jewellers / Equity Capital Markets

<ul>
<li>
<a href="https://www.smartkarma.com/entities/p-n-gadgil-jewellers" target="_blank" data-smartkarma-citation="entities:41129:1" rel="noopener">P N Gadgil Jewellers (1742652D IN)</a> raised around US$130m in its India IPO. </li>
<li>It is an Indian organized jewellery player with product offerings which include traditional as well as modern and functional jewellery designs, in gold, diamond, silver and platinum.</li>
<li>In our previous notes, we looked at the company’s past performance and valuation. In this note, we talk about trading dynamics.</li>
</ul>



P N Gadgil Jewellers (1742652D IN) raised around US$130m in its India IPO. 
It is an Indian organized jewellery player with product offerings which include traditional as well as modern and functional jewellery designs, in gold, diamond, silver and platinum.
In our previous notes, we looked at the company’s past performance and valuation. In this note, we talk about trading dynamics.


P N Gadgil Jewellers IPO Trading- Decent Anchor, Strong Insti Demand

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.

Thematic (Sector/Industry)

<ul><li>Topline Growth Driven by Volume Recovery: Most staple companies posted mid to high single-digit revenue growth despite facing challenges such as severe heatwaves in the northern region, heightened competitive intensity, and the general election impact.</li><li>The growth was primarily led by a rural recovery, with rural markets outpacing urban growth.</li><li>Sustained Rural Recovery: Rural demand continues to show steady improvement, with the rural market now surpassing urban areas, largely due to distribution expansion and region-specific launches. </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.

Topline Growth Driven by Volume Recovery: Most staple companies posted mid to high single-digit revenue growth despite facing challenges such as severe heatwaves in the northern region, heightened competitive intensity, and the general election impact.The growth was primarily led by a rural recovery, with rural markets outpacing urban growth.Sustained Rural Recovery: Rural demand continues to show steady improvement, with the rural market now surpassing urban areas, largely due to distribution expansion and region-specific launches. 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>Companies in India have disclosed their shareholding pattern as of end-June in July. There are companies with significant float changes from end-December and/or end-March.</li>
<li>The changes in free float could be reflected in domestic and global indices over the next few weeks and months resulting in action from passive trackers.</li>
<li>Depending on the date that the shareholding was published, there could be 12 stocks with passive inflows from global trackers while 5 could see passive outflows in August.</li>
</ul>


Companies in India have disclosed their shareholding pattern as of end-June in July. There are companies with significant float changes from end-December and/or end-March.
The changes in free float could be reflected in domestic and global indices over the next few weeks and months resulting in action from passive trackers.
Depending on the date that the shareholding was published, there could be 12 stocks with passive inflows from global trackers while 5 could see passive outflows in August.


India: Potential Free Float Changes & Passive Flows in August

<ul><li>Q1FY25 earnings season was marked by a) Robust PMI manufacturing and Services, b) Stronger E-way bill and GST collection, d) Heat waves and electricity demand, and e) Election campaigns and rallies. Domestic-facing sectors largely enjoyed the economic recovery backed by these factors and hence, margins may surprise positively.</li><li>On the other hand, export-oriented themes are likely to showcase relatively weaker performance.</li><li>Most of the domestic high-frequency indicators have trended higher during the quarter which is likely to translate into good demand momentum for the domestic corporate segment. </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.

Q1FY25 earnings season was marked by a) Robust PMI manufacturing and Services, b) Stronger E-way bill and GST collection, d) Heat waves and electricity demand, and e) Election campaigns and rallies. Domestic-facing sectors largely enjoyed the economic recovery backed by these factors and hence, margins may surprise positively.On the other hand, export-oriented themes are likely to showcase relatively weaker performance.Most of the domestic high-frequency indicators have trended higher during the quarter which is likely to translate into good demand momentum for the domestic corporate segment. 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.

<ul><li>Axis Top Picks: We are proud to share that our Axis Top Picks basket delivered impressive returns of 47% over the last one year, beating the benchmark Nifty 50 index (25.1% return over the same period) by a wide margin.</li><li>A few picks that reported excellent returns included Cholamandalam Investment &amp; Finance Company (14.7%), Varun Beverages (14.2%), J.Kumar Infraprojects (9.9%), Federal Bank (9.4%) and TVS Motor Company (8.5%). </li><li>Pick of the Week (PoW): POW calls delivered an astounding monthly strike rate of 85% in Jun’24.</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.

Axis Top Picks: We are proud to share that our Axis Top Picks basket delivered impressive returns of 47% over the last one year, beating the benchmark Nifty 50 index (25.1% return over the same period) by a wide margin.A few picks that reported excellent returns included Cholamandalam Investment &amp; Finance Company (14.7%), Varun Beverages (14.2%), J.Kumar Infraprojects (9.9%), Federal Bank (9.4%) and TVS Motor Company (8.5%). Pick of the Week (PoW): POW calls delivered an astounding monthly strike rate of 85% in Jun’24.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.

Axis Research Scorecard Report for June 2024

India

Varun Beverages Limited produces and distributes beverages. The Company offers carbonated soft drinks and non-alcoholic beverages, as well as provides packaged drinking water. Varun Beverages serves customers worldwide.

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Varun Beverages (VBL IN)

P N Gadgil Jewellers IPO Trading- Decent Anchor, Strong Insti Demand

P N Gadgil Jewellers Ltd (PNGJ) raised around US$130m in its India IPO. In this note, we talk about the trading dynamics.

Akshat Shah

Top Sector Ideas - FMCG (Q1FY25)

Rural demand continues to show steady improvement, with the rural market now surpassing urban areas, largely due to distribution expansion

Axis Direct

India: Potential Free Float Changes & Passive Flows in August

Changes to shareholding patterns could lead to changes in float for some stocks in local/global indices. Passive trackers will need to trade over 4...

Brian Freitas

Q1FY25 - Consolidated Earnings Preview

Based on our and consensus estimates, we forecast Nifty to deliver Revenue/EBITDA/PAT growth of 7.8%/3%/1.2% respectively for the quarter.

Axis Direct

Axis Research Scorecard Report for June 2024

We are proud to share that our Axis Top Picks basket delivered impressive returns of 47% over the last one year, beating the benchmark Nifty 50...

Axis Direct

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