Daily Brief Financials: Mphb Capital, NIFTY Index, Schloss Bangalore Ltd, Shimao Property Holdings, Bitcoin, Upstart Holdings and more

• On the 28 May, credit service provider MPHB Capital (MPHB MK) announced that controlling shareholder and chairman Tan Sri Surin Upatkoon intended to delist the company via a selective capital reduction.
• Shareholders approved the RM1.70/share (87.21% FOR, 8.34% AGAINST) terms. The Offer required the Court to sign off on the SCR, and that’s when matters unravelled. 
• ISM Sdn Bhd, MPHB’s minority partner in six JVs, filed an intervening application on the grounds that sanctioning the SCR may affect its rights in an ongoing legal dispute. 

• Our last insight predicted quite precisely what happened to the NIFTY Index during the last 3 weeks (our forecast was a 3-5 weeks rally, around +4%/+5% higher).
• After 3 weeks up in a row, last week the NIFTY pulled back – the question obviously now is: would this be a good time to enter/re-enter the trade LONG?
• The answer, as always, lies in our Market Reversal Matrix models, keep reading to find out…

• Schloss Bangalore Ltd (SCHBL IN) plans to raise about US$600m in its India IPO. The deal will be run by BofA, MS, JPM, Kotak, Axis, Citi, IIFL,ICICI, JMF,Motilal and SBICaps.
• It is a luxury hospitality company which owns, operates, manages and develops luxury hotels and resorts under ‘The Leela’ brand, through direct ownership and hotel management agreements with third-party owners.
• According to the HVS Report, SBL is the only institutionally owned and managed pure-play luxury hospitality company in India. Its portfolio comprises 3,382 keys across 12 operational hotels.

Lucror Analytics Weekly Wraps provide an overview of all Morning Views comments and reports published by our analyst team in the past week, and also showcase a list of the most-read reports.

In this Insight:

1. Biocon Ltd
2. Lippo Karawaci
3. Tata Motors Ltd
4. Softbank Group
5. Rakuten

and more…

• For weeks, we have been anticipating October with optimism, given multiple positive factors for the crypto market.
• Among these is the conclusion of the U.S. Dollar liquidity squeeze in September, which we expect to be followed by increasing liquidity from this month onward.
• In Monday’s edition of Crypto Crisp, we outlined additional reasons for our bullish outlook on crypto throughout the fourth quarter.

• Upstart’s second quarter 2024 financial results reflect a period of transformation and recovery under challenging macroeconomic conditions.
• The company, led by CEO Dave Girouard, expressed confidence in the progress Upstart has made in returning to sequential growth and EBITDA profitability, despite the continued absence of significant macroeconomic improvements.
• This optimism is grounded in internal developments, particularly in artificial intelligence (AI) model enhancements, revived funding strategies, and augmented operational efficiency.