In today’s briefing:
- Hindenburg Research Vs SEBI Chief: Allegations and Responses
- Brainbees (FirstCry) IPO Trading – Decent Subscription and Valuation
- Ola Electric (OLAELEC IN) : Soaring High – How Much Higher Can It Go?
- Narrative and Numbers | Electronics Retail | FY24
- EQD / NSE Vol Update / Controlled Detonation in Vols – Initial Jump Followed by Calmer Levels
Hindenburg Research Vs SEBI Chief: Allegations and Responses
- Hindenburg Research released a report on SEBI Chief Madhabi Puri Buch, accusing her of conflicts of interest, particularly about the Adani Group.
- Analysis of Responses given by Madhabi & Dhaval Buch, SEBI, 360 One and Adani.
- Analysis of events and allegations made by Hindenburg on Madhabi and critical assessment on that.
Brainbees (FirstCry) IPO Trading – Decent Subscription and Valuation
- BrainBees Solutions (FirstCry) raised around US$500m in its India IPO.
- FirstCry is India’s largest multi-channel retailing platform for Mothers’, Babies’ and Kids’ products in terms of GMV, for the year ending Dec 2022 (9M23), according to RedSeer.
- In our previous notes, we looked at the company’s past performance and valuations. In this note, we talk about the trading dynamics.
Ola Electric (OLAELEC IN) : Soaring High – How Much Higher Can It Go?
- Ola Electric’s stock has surged since its Friday listing, despite a lukewarm IPO response. We look at a possible base-to-bullish case valuation range for Ola Electric’s stock price.
- With the e2W market up 96% YoY in July and Ola Electric’s sales soaring 114%, the momentum is strong. Likely catalyst on the horizon adds to investor optimism.
- Currently, on FY2026E EV/Revenue, Ola Electric trades on par with its closest Indian e2W peer.
Narrative and Numbers | Electronics Retail | FY24
- We focus on two electronics retailers Electronics Mart India (EMIL IN) & Aditya Vision (AVL IN) in this Narrative & Numbers for FY24.
- EMIL is a leading player in the consumer electronics industry in India, with a strong presence in South India.
- AVL is a leading player in the consumer electronics industry in India, with a strong presence in Bihar, Jharkhand, and Uttar Pradesh.
EQD / NSE Vol Update / Controlled Detonation in Vols – Initial Jump Followed by Calmer Levels
- IVs move higher in a controlled manner relative to U.S. markets. Combination of technical factors put a dampener on the Options Markets & IV turn lower by Week’s end.
- Many determining factors underwent changes in Vol-Regime Model – but threshold to switch out of “High & Down” state not achieved.
- Smile & Skew characteristics blow out significantly on the open but settle at lower levels by week’s close.
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