Refine by sector
Latest articles in India

IN : Industrial - Overall - Long steel plants never enjoyed an upcycle

For Indian long steel players, it was not a bull cycle as high raw material prices never led their profits to touch supernormal levels, like that of flat steel. Port congestion in key areas like China and USA provided export opportunity to Indian co....
Shaily Ruparelia @ CGS-CIMB 16 September 2021


Cryptocurrencies have reached a market capitalisation of > $150bn. Backtesting quantitative strategies is difficult given a limited trading history & universe. Short-term Momentum works very well, classic factor investing strategies less so.
FactorResearch Nicolas
Nicolas Rabener @ FactorResearch 16 September 2021

IN : Oil & Gas - Overall - Focusing on marketing

Oil demand recovery remains tepid with auto fuel volumes at 4.5% below pre-Covid levels in Aug 2021. We expect strong recovery from 2HFY22F. Auto fuel marketing margins remain very high and could provide upside to our forecasts if they do not declin....
CGS-CIMB Avadhoot
Avadhoot Sabnis @ CGS-CIMB 16 September 2021

Contrarian sells in emerging market equities

The markets and sectors we consider are, in Large EM, India, Russia, Saudi Arabia and Taiwan Tech (where TSMC on its own almost counts a country, given its near 7% weight in MSCI EM), and, in small EM, Abu Dhabi, Bangladesh (large caps only), Hungary...
Tellimer Research Hasnain
Hasnain Malik @ Tellimer Research 16 September 2021
Contrarian sells in emerging market equities
Contrarian sells in emerging market equities

IN : Strategy - Exports continue to shine in August

Exports momentum continues to be strong in August, growing by 46% and 28% over Aug 2020 and Aug 2019, after the highest-ever quarterly value in 1QFY22. For the period Apr-Aug, exports are already at 41% of the US$400bn target for FY22. Exports can s....
Jay Shankar @ CGS-CIMB 16 September 2021


Value & Size generate abnormally large positive returns in January, Momentum negative returns. Abnormal returns are limited to the last week of December and first week of January. Difficult to harvest these returns efficiently due to illiquidity of m...
FactorResearch Nicolas
Nicolas Rabener @ FactorResearch 15 September 2021