In today’s briefing:
- Juniper Hotels IPO – Looks Somewhat Fairly Valued
- [#19] Namaste India 🙏 | Eureka Forbes, Manyavar, L&T Finance, SG Mart, Cello
- Morning Views Asia: Alam Sutera Realty, Citicore Renewable Energy
- EQD | NIFTY’s Rally Resistance Targets Approaching: Reversal?
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Juniper Hotels IPO – Looks Somewhat Fairly Valued
- Juniper Hotels is looking to raise up to US$217m in its upcoming India IPO.
- Juniper Hotels is the largest owner by no. of keys of Hyatt affiliated hotels in India as of 2Q23 (30th Jun 23), according to Horwath.
- We have looked at the company’s past performance in our previous note. In this note, we provide our thoughts on valuations.
[#19] Namaste India 🙏 | Eureka Forbes, Manyavar, L&T Finance, SG Mart, Cello
- The market seems to be dancing to its own tune and is likely to continue.
- EUREKAFO’s distributors are dissatisfied, MANYAVAR’s reported numbers failed to match up to the on-ground optimism.
- LTFH’s “strong” retail playbook keeps performing, and SGMART’s website raises concerns about its operations.
Morning Views Asia: Alam Sutera Realty, Citicore Renewable Energy
Lucror Analytics Morning Views comprise our fundamental credit analysis, opinions and trade recommendations on high yield issuers in the region, based on key company-specific developments in the past 24 hours. Our Morning Views include a section with a brief market commentary, key market indicators and a macroeconomic and corporate event calendar.
EQD | NIFTY’s Rally Resistance Targets Approaching: Reversal?
- The NIFTY Index has been rising for 5 days in a row, this is the second week up (CC=+2), there is a good chance it will pullback soon.
- The index is going towards the Q3 resistance level at 22354, that would be a good area from where to start to prepare for a pullback.
- Going SHORT may not be worth it, the right trade is to wait for the pullback and go LONG again at better prices.