Equity L/S Analyst | Forensic Accounting | India, Yellowstone Equity

Ankit Agrawal, CFA

I possess investment research experience across asset classes and geographies, acquired at Investcorp (New York) and Howe & Rusling (Rochester). At Investcorp, an alternative asset manager, I was part of an investment team managing >$1bn in discretionary client assets. I was also a member of investment recommendation, monitoring, cross-asset strategy and macro outlook committees that met periodically for investment decisions and top-down views. At Howe & Rusling, a long-only asset manager, I helped cover US large-cap equity investments across sectors for growth and income focused portfolios as well as assisted in managing a US small-cap growth focused equity portfolio. I possess an MBA in finance and corporate accounting from University of Rochester in US, a CFA Charter, and an Engineering degree from Indian Institute of Technology Bombay in India.  

My current focus is L/S equity fundamental research across market cap and sectors with an eye on corporate governance and forensic accounting. I am currently based in India and my current coverage universe is biased towards India.

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Regulatory Disclosure: Note that Ankit Agrawal (Proprietor of Yellowstone Equity) is a SEBI registered Research Analyst (Registration No.: INH000007216). Registration granted by SEBI and certification from NISM in no way guarantee performance of the intermediary or provide any assurance of returns to investors. Investment in securities market are subject to market risks. Read all the related documents carefully before investing.

Research Analyst Contact Details -
Address: A-602, Titanium Business Park, Makarba, Ahmedabad - 380051 |
Email: services@yellowstoneequity.com |
Mobile: +91-7575817289

Compliance/Grievance Officer -
Name: Ankit Agrawal |
Email: services@yellowstoneequity.com |
Mobile: +91-7575817289
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Equity L/S Analyst | Forensic Accounting | India

Edelweiss Financial Services – Not Making Any Friends With This Release

Value Trumps Price | Edelweiss: Deal & Earnings Update

Edelweiss: The Blossoming Is About to Happen!

Edelweiss: Stock Under Pressure from Overhangs, but Medium-Term Fundamentals Remain Robust

Equity Bottom-Up

Edelweiss Financial Services / Equity Bottom-Up

As per <a href="https://economictimes.indiatimes.com/markets/stocks/news/bank-of-singapore-pes-bid-for-stake-in-edelweiss-wealth/articleshow/76564998.cms" target="_blank" rel="noopener">an Economic Times (ET) article</a> on Jun 24, <a href="https://www.smartkarma.com/entities/edelweiss-financial-services-ltd" target="_blank" data-smartkarma-citation="entities:15015:1" rel="noopener">Edelweiss Financial Services (EDEL IN)</a> has already received first stage bidding from various PE investors and Bank of Singapore for acquiring a minority stake in Edelweiss' advisory business. Second round bidding is likely to happen by mid-July. With SEBI extending the quarterly earnings announcement deadline, we now extend our anticipated timeline for a deal and earnings announcement to 2H of Jul from end of Jun earlier. Edelweiss' stock has already moved up significantly (about 40% up move over the last 7-8 trading sessions) in anticipation of a deal announcement. We believe that the current valuations remain attractive, despite the up move.
Insight Flow:
<ul>
<li>Earnings Deadline Extended by SEBI</li>
<li>Favorable Shareholder Voting</li>
<li>Deal Progress &amp; Outlook</li>
<li>Valuation</li>
</ul>

As per an Economic Times (ET) article on Jun 24, Edelweiss Financial Services (EDEL IN) has already received first stage bidding from various PE investors and Bank of Singapore for acquiring a minority stake in Edelweiss' advisory business. Second round bidding is likely to happen by mid-July. With SEBI extending the quarterly earnings announcement deadline, we now extend our anticipated timeline for a deal and earnings announcement to 2H of Jul from end of Jun earlier. Edelweiss' stock has already moved up significantly (about 40% up move over the last 7-8 trading sessions) in anticipation of a deal announcement. We believe that the current valuations remain attractive, despite the up move.
Insight Flow:

Earnings Deadline Extended by SEBI
Favorable Shareholder Voting
Deal Progress &amp; Outlook
Valuation


Edelweiss: A Deal Is Likely by 2H of July