In today’s briefing:
- FII’s High Short Positions on Indian Markets : Crisis or Opportunity
- #1 Forensic Foresight: SEBI Warns ICICI Bank, Suzlon Director Resign, Wardwizard Disguise
- EQD | Is the HSI Correction Going to Continue? (Yes, For 1-2 Weeks)
- Good Com Asset (3475 JP): 1H FY10/24 flash update
- Lincoln National Corporation: Initiation of Coverage – A Tale Of Strategic Repositioning & Improving Cost Management! – Major Drivers
- Old Republic International Corporation: Initiation of Coverage – Can Its Strategic Technological Investments Give It A Competitive Edge? – Major Drivers
- Primerica Inc.: Initiation of Coverage – These Are The 4 Fundamental Factors Driving Their Performance! – Financial Forecasts
- Radian Group Inc.: Initiation of Coverage – Improved Default Management and Cure Rates & Other Major Drivers
- AB&Company Co Ltd (9251 JP): 1H FY10/24 flash update
- Unum Group: Initiation of Coverage – Expansion Of Service Capabilities & 3 Critical Growth Drivers
FII’s High Short Positions on Indian Markets : Crisis or Opportunity
- It is important for investors to not get swayed by popular narratives and instead look at the data and historical patterns to make informed decisions.
- While a large short position by FIIs may seem concerning, it could actually signal a potential opportunity for positive returns in the Nifty 50 index.
- By understanding the reasons behind this contrarian move and the historical trends, investors can navigate bet when FII’s short positions are high.
#1 Forensic Foresight: SEBI Warns ICICI Bank, Suzlon Director Resign, Wardwizard Disguise
- Forensic Forsight will be a bi-monthly report covering Indian companies having corporate governance issues guiding investors on strengthening their ESG investment framework
- The issue covers SEBI warning against ICICI Bank for manipulation in delisting process of its key subsidiary.
- The report also covers how a EV company disguises shareholders while an Indian renewable energy company is under scrutiny owing to Independent Director Resignation
EQD | Is the HSI Correction Going to Continue? (Yes, For 1-2 Weeks)
- The Hang Seng Index correction has restarted this week, after a brief 1-week bounce.
- The index may continue to downtrend for another 1-2 weeks, then a reversal should come and the uptrend should restart.
- Look at the price support area in the 17500-17000 range, because that is where my model indicates the highest chance of LONG reversal.
Good Com Asset (3475 JP): 1H FY10/24 flash update
- Sales increased by 6.0% YoY to JPY11.4bn, but net income attributable to owners decreased by 54.1% YoY to JPY359mn.
- Wholesale Sales and Retail Sales segments saw YoY profit drops, while Real Estate Management posted YoY increases in both sales and profit.
- The company sold 15 condo buildings with 369 units (+11.5% YoY) and purchased nine condo buildings with 675 units (-61.2% YoY).
Lincoln National Corporation: Initiation of Coverage – A Tale Of Strategic Repositioning & Improving Cost Management! – Major Drivers
- Lincoln Financial Group delivered a robust performance in the first quarter of 2024, attributed to strategic repositioning and growth across its various business segments.
- The company reported strong results in its Annuities, Group Protection, Retirement Plan Services, and Life business areas.
- Key highlights include a significant earnings quarter for the Annuities division and strong year-over-year earnings growth in Group Protection.
Old Republic International Corporation: Initiation of Coverage – Can Its Strategic Technological Investments Give It A Competitive Edge? – Major Drivers
- Old Republic International Corporation disclosed its first-quarter 2024 financial results, showcasing a mixed performance with strengths in General Insurance contrasted by challenges in the Title Insurance segment.
- The company reported a consolidated pretax operating income of $231.5 million, which marks an increase from $222.9 million in the corresponding period of the previous year.
- This growth was primarily driven by a robust performance in the General Insurance sector, which offset the subdued results in Title Insurance due to prevailing market conditions.
Primerica Inc.: Initiation of Coverage – These Are The 4 Fundamental Factors Driving Their Performance! – Financial Forecasts
- Primerica’s first quarter of 2024 financial results demonstrated resilience amidst challenging economic conditions, although it faced underperformance in certain segments.
- The company reported an adjusted net operating income of $137 million, which represents a 4% increase compared to the previous year, and adjusted operating income per share rose by 10% to $3.91.
- These figures reflect the robust performance of Primerica’s core businesses, Term Life and Investment and Savings Products (ISP), along with notable growth in the sales force.
Radian Group Inc.: Initiation of Coverage – Improved Default Management and Cure Rates & Other Major Drivers
- Radian Group reported encouraging financial outcomes for the first quarter of 2024, reflecting its strong operational core and effective strategy implementation.
- The company witnessed a year-over year growth in its book value per share by 12%, with revenues increasing by 3% to $319 million.
- The primary mortgage insurance in force rose by 4% to an all-time high of $271 billion, bolstering future earning prospects.
AB&Company Co Ltd (9251 JP): 1H FY10/24 flash update
- Revenue increased by 6.9% YoY to JPY8.7bn, but operating profit decreased by 9.9% YoY to JPY802mn.
- Directly Managed Beauty Salon Operation revenue grew 6.3% YoY to JPY7.2bn, while operating profit dropped significantly to JPY20mn.
- Franchise segment revenue rose 19.0% YoY to JPY1.3bn, with operating profit increasing 27.7% YoY to JPY528mn.
Unum Group: Initiation of Coverage – Expansion Of Service Capabilities & 3 Critical Growth Drivers
- Unum Group has reported a commendable first quarter for 2024, signaling a robust start to the year with mixed outcomes that illustrate both strengths and areas requiring attention.
- The company emphasized its achievement of a 13.6% increase in earnings per share, reaching a record $2.12 per share.
- This growth was supported by a significant $350 million in statutory earnings, alongside a 6.6% rise in core operations premium growth.
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