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

<ul>
<li>
<a href="https://www.smartkarma.com/entities/jubilant-foodworks-ltd" target="_blank" data-smartkarma-citation="entities:986:1" rel="noopener">Jubilant Foodworks (JUBI IN)</a> announced the departure of its CEO Mr Pratik Pota. </li>
<li>The timing of departure coupled with recent disappointment around disclosures is making the market nervous. </li>
<li>As the "sea" gets stormy thanks to high food inflation and pressured "Dine-Ins", who would be JUBI's new captain is the key. </li>
</ul>



Jubilant Foodworks (JUBI IN) announced the departure of its CEO Mr Pratik Pota. 
The timing of departure coupled with recent disappointment around disclosures is making the market nervous. 
As the "sea" gets stormy thanks to high food inflation and pressured "Dine-Ins", who would be JUBI's new captain is the key. 


Jubilant Foodworks (JUBI IN) | Anyone Can Hold the Helm when the Sea Is CALM

Market & Forensics Analyst, Beat the Street

Nimish Maheshwari

Market & Forensics Analyst

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

<ul>
<li>The retail landscape in India is witnessing a rapid transformation with the rise of Quick Commerce</li>
<li>These companies are challenging traditional retail models by combining competitive pricing with the convenience of super-fast deliveries.</li>
<li>For Dmart, which has long been the leader in value retailing, this shift presents significant challenges to Same Store Sales Growth (SSSG), store expansion plans, and overall valuation.</li>
</ul>


The retail landscape in India is witnessing a rapid transformation with the rise of Quick Commerce
These companies are challenging traditional retail models by combining competitive pricing with the convenience of super-fast deliveries.
For Dmart, which has long been the leader in value retailing, this shift presents significant challenges to Same Store Sales Growth (SSSG), store expansion plans, and overall valuation.


Impact of Quick Commerce on Dmart's Growth and Valuation

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

Vishal Mega Mart / Equity Capital Markets

<ul>
<li>
<a href="https://www.smartkarma.com/entities/vishal-mega-mart" target="_blank" data-smartkarma-citation="entities:44041:1" rel="noopener">Vishal Mega Mart (VMM)</a> raised around US$950m in its India IPO.</li>
<li>Vishal Mega Mart Limited (VMM), is a one-stop retail destination. As per the company it targets middle and lower-middle income consumers across India</li>
<li>We have looked at the company’s past performance and valuations in our previous notes. In this note, we will talk about the trading dynamics.</li>
</ul>



Vishal Mega Mart (VMM) raised around US$950m in its India IPO.
Vishal Mega Mart Limited (VMM), is a one-stop retail destination. As per the company it targets middle and lower-middle income consumers across India
We have looked at the company’s past performance and valuations in our previous notes. In this note, we will talk about the trading dynamics.


Vishal Mega Mart IPO Trading - Strong Demand Despite Not so Strong Anchor

Mao Geping Cosmetics / Equity Capital Markets

<ul>
<li>Aequitas Research's weekly update on the IPOs, placements, lockup expiry and other ECM linked events that were covered by the team over the past week.</li>
<li>On the IPO front, a number of offerings were live in India, in a bid to beat the year-end lull.</li>
<li>On the placements front, there was a large placement for <a href="https://www.smartkarma.com/entities/sensetime-group-inc" target="_blank" data-smartkarma-citation="entities:34319:1" rel="noopener">SenseTime Group (20 HK)</a> and a number of smaller deals in India.</li>
</ul>


Aequitas Research's weekly update on the IPOs, placements, lockup expiry and other ECM linked events that were covered by the team over the past week.
On the IPO front, a number of offerings were live in India, in a bid to beat the year-end lull.
On the placements front, there was a large placement for SenseTime Group (20 HK) and a number of smaller deals in India.


ECM Weekly (16th Dec 2024) - LG CNS, Mao Geping, Digico, Kioxia, Vishal Mega, IGI, Sai Life, Quantum

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>Our bullish outlook on global equities (MSCI ACWI) remains intact with ACWI-US and the S&amp;P 500 firmly trending higher. Our recommendation since mid-October to use any pre-election pullback in..</li>
<li>... the ACWI or the SPX as an opportunity to add exposure continues to pay off, and there is not much left to do except ride the trend higher.</li>
<li>Additionally, we still see a high probability of significant upside going into year-end and the early part of 2025 -- and likely beyond</li>
</ul>


Our bullish outlook on global equities (MSCI ACWI) remains intact with ACWI-US and the S&amp;P 500 firmly trending higher. Our recommendation since mid-October to use any pre-election pullback in..
... the ACWI or the SPX as an opportunity to add exposure continues to pay off, and there is not much left to do except ride the trend higher.
Additionally, we still see a high probability of significant upside going into year-end and the early part of 2025 -- and likely beyond


Ride the Trend Higher in MSCI ACWI and S&P 500; Buy/Stay Long Global Discretionary, Services, Tech

India

Zomato Limited is an online restaurant guide and food ordering platform. The Company offers platform connects customers, restaurant partners and delivery partners to search and discover restaurants, read and write customer generated reviews, order food delivery, book a table, and make payments while dining-out at restaurants. Zomato serves customers worldwide.

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Zomato (ZOMATO IN)

Jubilant Foodworks (JUBI IN) | Anyone Can Hold the Helm when the Sea Is CALM

Jubilant Foodworks (JUBI IN) announced the departure of its CEO Mr Pratik Pota at a time when the company needs him the most. The Market is...

Pranav Bhavsar

Impact of Quick Commerce on Dmart's Growth and Valuation

Quick Commerce is revolutionizing retail in India with fast deliveries and competitive pricing, posing challenges for traditional leaders like Dmart.

Nimish Maheshwari

Vishal Mega Mart IPO Trading - Strong Demand Despite Not so Strong Anchor

Vishal Mega Mart (VMM) raised around US$950m in its India IPO. We have looked at the past performance in our earlier notes. In this note, we talk...

Sumeet Singh

ECM Weekly (16th Dec 2024) - LG CNS, Mao Geping, Digico, Kioxia, Vishal Mega, IGI, Sai Life, Quantum

Aequitas Research's weekly update on the IPOs, placements, lockup expiry and other ECM linked events that were covered by the team over the past week.

Sumeet Singh

Ride the Trend Higher in MSCI ACWI and S&P 500; Buy/Stay Long Global Discretionary, Services, Tech

Ride the Trend Higher in MSCI $ACWI and $SPX; We are still bullish as Risk-On Signals Dominate. Ideas to buy/stay long in global Discretionary,...

Vermilion Research

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52-week Range

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P/E

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Jubilant Foodworks (JUBI IN) | Anyone Can Hold the Helm when the Sea Is CALM

Jubilant Foodworks (JUBI IN) announced the departure of its CEO Mr Pratik Pota at a time when the company needs him the most. The Market is...

Pranav Bhavsar

Impact of Quick Commerce on Dmart's Growth and Valuation

​Quick Commerce is revolutionizing retail in India with fast deliveries and competitive pricing, posing challenges for traditional leaders like Dmart.

Nimish Maheshwari

Vishal Mega Mart IPO Trading - Strong Demand Despite Not so Strong Anchor

Vishal Mega Mart (VMM) raised around US$950m in its India IPO. We have looked at the past performance in our earlier notes. In this note, we talk...

Sumeet Singh

ECM Weekly (16th Dec 2024) - LG CNS, Mao Geping, Digico, Kioxia, Vishal Mega, IGI, Sai Life, Quantum

Aequitas Research's weekly update on the IPOs, placements, lockup expiry and other ECM linked events that were covered by the team over the past week.

Sumeet Singh

Ride the Trend Higher in MSCI ACWI and S&P 500; Buy/Stay Long Global Discretionary, Services, Tech

Ride the Trend Higher in MSCI $ACWI and $SPX; We are still bullish as Risk-On Signals Dominate. Ideas to buy/stay long in global Discretionary,...

Vermilion Research

Quick Commerce is revolutionizing retail in India with fast deliveries and competitive pricing, posing challenges for traditional leaders like Dmart.