In today’s briefing:
- EQD | A Systematic Look at the Post Earnings Announcement Drift Across Asia
- Pioneer Credit Ltd – Strengthening profit outlook
- HDFC Bank (HDFCB IN): Initiating Coverage – Long Term Compounder; But “Short” For Now
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EQD | A Systematic Look at the Post Earnings Announcement Drift Across Asia
- A cross-country study on the post earning announcement drift effect.
- We explore the use of various options-implied analytics to systematically view returns around earnings announcements.
- Options-Implied Analytics can provide empowering information to better inform investment decisions.
Pioneer Credit Ltd – Strengthening profit outlook
- Pioneer Credit Limited (ASX:PNC) is one of the leading acquirers and managers of impaired credit in Australia and has gained its status by maintaining positive customer engagement, an unblemished compliance record with ASIC, and strong relationships with Australia’s largest bank and non-bank lenders.
- PNC purchases debt from numerous Australian vendor partners (18 different vendors in the past 12 months) with long-term partnership purchasing arrangements in place with Commonwealth Bank of Australia (ASX:CBA).
- Pioneer’s success in purchasing large debt portfolios at attractive IRRs since October highlights the strong position the company occupies in the marketplace.
HDFC Bank (HDFCB IN): Initiating Coverage – Long Term Compounder; But “Short” For Now
- HDFC Bank (HDFCB IN) has been the most successful bank in India over the last two decades, delivering best-in-class performance consistently; Things changed drastically with the merger with HDFC Ltd.
- The negatives outweigh the positives in the near-term from the merger; the synergies, which are significant, are long-term in nature and hence would take time to play out.
- We remain long-term believers, but it is a “Short” in the short-term as we expect further -20% correction in valuations