In today’s briefing:
- Quiddity TDIV/50/100 Jun 24 Rebal: 15/18 Hits; Updated Flow Expectations and Trade Ideas
- SF Holding Pre-IPO: FY23, Q124 Results Reviewed | Sales Mix Impacts | Recent Monthly Revenue Trend
- Rohm (6963 JP): Negative Scenario Discounted
- NIFTY200 Momentum30 Index Rebalance: 13 Changes, 42% Turnover, Momentum Recovers After Selloff
Quiddity TDIV/50/100 Jun 24 Rebal: 15/18 Hits; Updated Flow Expectations and Trade Ideas
- The index changes for the T50/100 index family and the TDIV index were confirmed after market close on Friday 7th June 2024.
- While the T50 and T100 index changes were perfectly in line with our expectations there were some surprises among the TDIV index changes.
- In this insight, we take a look at Quiddity’s final flow expectations for the June 2024 index rebal event and potential trade ideas based on the flow dynamics.
SF Holding Pre-IPO: FY23, Q124 Results Reviewed | Sales Mix Impacts | Recent Monthly Revenue Trend
- In this insight we cover recent earnings results, revenue mix, YTD trends
- Fluctuating performance of its international segment impacted FY23 and Q124
- Improving international segment could boost overall momentum in Q2-Q4 2024
Rohm (6963 JP): Negative Scenario Discounted
- Japanese semiconductor equipment stocks have started to drop back, but device maker Rohm is already down 25% year-to-date and down 43% from its 52-week high.
- Rohm’s operating profit fell 53% last fiscal year and management is guiding for a 68% decline in in FY Mar-25. Investment in power devices remains strong despite weak sales.
- 1H guidance is for an 80% year-on-year decline in operating profit on a 6% decline in sales. Buy into this weakness. Recovery should start in 2H.
NIFTY200 Momentum30 Index Rebalance: 13 Changes, 42% Turnover, Momentum Recovers After Selloff
- There are 13 changes for the Nifty200 Momentum 30 Index that will be implemented at the close on 27 June.
- Estimated one-way turnover is 42.3% resulting in a one-way trade of INR 32bn (US$384m). There are 13 stocks with over 0.5x ADV to trade, mostly on the deletes.
- After steady outperformance over the last few months, there was a selloff in momentum names following the announcement of the election results. There has been a recovery since then.
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