Daily Brief India: Voltas Ltd, Ajax Engineering Limited, Medco Energi and more

• There could be 16 changes for the Nifty200 Momentum 30 Index that will be implemented at the close on 30 December.
• If all changes are on expected lines, one-way turnover is estimated at 55.6% and that will result in a one-way trade of INR 62bn (US$736m).
• Since June, the potential adds to the index have outperformed the index and the potential deletes by a big margin. Momentum could keep the outperformance going till implementation date.

• Ajax Engineering Limited (0896529D IN) is looking to raise about US$100m through its upcoming IPO in India. The lead bookrunners for the deal are ICICI , CITI, JM, Nuvama, SBI 
• Ajax Engineering Limited (AEL) is one of the leading concrete equipment manufacturers with a comprehensive range of concrete equipment, services and solutions across the concrete application value chain. 
• It is one of the top three global SLCM manufacturers, holding about 75% market share in India. In FY24, SLCMs contributed to 12% of India’s concrete production.

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.

• Adani Green Energy
• CIFI Holdings
• Medco Energi