In today’s briefing:
- AMFI Stock Reclassification Preview (June 2023): Outperformance Continues
- Home First Finance (HOMEFIRS IN) | Irrelevant Mission, Fading Moat
- Quiddity Leaderboard NIFTY Sep 23: Non F&O Stocks Dilemma and Replacements for HDFC
- Morning Views Asia: Bharat Petroleum Corp, Meituan, Pertamina Geothermal Energy
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AMFI Stock Reclassification Preview (June 2023): Outperformance Continues
- We see 7 stocks moving from MidCap to LargeCap, 8 stocks moving from LargeCap to MidCap, 9 stocks from SmallCap to MidCap, and 10 stocks from MidCap to SmallCap.
- The expected migrations from SmallCap to MidCap have outperformed the other migrations and some stocks have seen large price moves over the last couple of weeks.
- Active managers would have started realigning their portfolios and that could continue for a couple of weeks. Unwind long positions into strength.
Home First Finance (HOMEFIRS IN) | Irrelevant Mission, Fading Moat
- Home First Finance (HOMEFIRS IN) is a technology-driven affordable housing finance company (HFC) focused on first-time homebuyers in low and middle-income groups.
- We believe access to finance is more relevant rather than quick TAT and hence question the relevance of wanting to be the fastest provider.
- Considering the fading competitive advantage, borrower profile and segment dynamics, HOMEFIRS may be the fastest but not necessarily the safest.
Quiddity Leaderboard NIFTY Sep 23: Non F&O Stocks Dilemma and Replacements for HDFC
- In this insight, we take a look at the names leading the race to become ADDs/DELs for the NIFTY 50 and NIFTY 100 indices in the September 2023 rebalance.
- The NIFTY Next 50 methodology was supposed to change in June 2023 but this has been kept on hold for now. This change could still take place before September 2023.
- The HDFC/HDFC Bank Merger is expected to complete in the next few weeks and that could trigger intra-review index changes.
Morning Views Asia: Bharat Petroleum Corp, Meituan, Pertamina Geothermal 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.