Daily Brief India: Zomato, Yes Bank, Nameson Holdings, Shoppers Stop and more

• In this insight, we take a look at the Potential ADDs/DELs for the BSE SENSEX, 100, and 200 indices in the December 2024 index rebal event.
• At present, 3 changes for the BSE 100 index and 7 changes for the BSE 200 index.
• The BSE 100 handling rules for names without futures and options (F&O) sometimes punish companies that have enjoyed good share price rallies and Zomato could get into such a trap.

• Reconstructed board of Yes Bank implemented an ill-conceived, poorly executed retail strategy to revive the bank
• Structural problem of low net interest margin and high overheads not resolved
• Retail assets strategy characterised by low yield, high operating cost and rising credit cost which the bank has finally acknowledged

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
• Sands China
• Vedanta Resources

• Shoppers Stop (SHOP IN) is a leading retailer in India specializing in fashion and beauty brands with 12 department stores, 7 premium home stores, and 87 specialty beauty outlets,
• SHOP has also launched its value retail format INTUNE in June 2023 generating excitement and interest around the same. 
• It seems SHOP is trying to play all cards of the retail game, i.e., premium, beauty, and value fast fashion, but so far has shown no signs of success.