ALOKINDS.NSE

Alok Industries Ltd.

In this briefing: Fractal Analytics Pre-IPO: AI Play With Strong Fundamentals ICICI Pru AMC Pre-IPO - Ticking All the Right Boxes Emmvee IPO: Issue Fairly Priced, Capacity Addition & Future Integration Holds Energy For Future Punjab National Bank (PNB IN) Vs. Bank of India (BOI IN): Quant-Driven Pair Trade in Indian Banks Primer: Alok Industries (ALOK IN) - Nov 2025 1. Fractal Analytics Pre-IPO: AI Play With Strong Fundamentals Fractal Analytics Ltd (2453623D IN) is looking to raise US$560m in its upcoming India IPO. Fractal Analytics Limited (FAL) is an enterprise AI company which supports large global enterprises with data-driven insights and assists them in their decision making through its end-to-end AI solutions. In this note, we look at the company’s past performance. 2. ICICI Pru AMC Pre-IPO - Ticking All the Right Boxes ICICI Prudential AMC is looking to raise about US$1bn in its upcoming India IPO. IPru AMC is an asset management company involved in managing mutual funds, providing portfolio management services, managing alternative investment funds, and providing advisory services to offshore clients.

In this briefing: Emmvee IPO: Issue Fairly Priced, Capacity Addition & Future Integration Holds Energy For Future Punjab National Bank (PNB IN) Vs. Bank of India (BOI IN): Quant-Driven Pair Trade in Indian Banks Primer: Alok Industries (ALOK IN) - Nov 2025 Bajaj Finance: From Credit Tightening to Digital Acceleration – A Transition Year in Motion Tenneco Clean Air India Ltd IPO - No Adrenaline Rush Here 1. Emmvee IPO: Issue Fairly Priced, Capacity Addition & Future Integration Holds Energy For Future Emmvee Photovoltaic has filed RHP for IPO with a total offer size of up to INR 29B, offering 133.6M shares at a price band of INR 206-INR 221 per share. This includes a fresh issue of INR 21.4B (~ 98.8M shares). The company intends to use the proceeds for debt repayment and general corporate purpose. Our recommendation would be that investors can buy into this issue as the valuation range looks relatively cheap when compared to peers. 2. Punjab National Bank (PNB IN) Vs. Bank of India (BOI IN): Quant-Driven Pair Trade in Indian Banks Context: The Punjab National Bank (PNB IN) vs.

In this briefing: Punjab National Bank (PNB IN) Vs. Bank of India (BOI IN): Quant-Driven Pair Trade in Indian Banks Primer: Alok Industries (ALOK IN) - Nov 2025 Bajaj Finance: From Credit Tightening to Digital Acceleration – A Transition Year in Motion Tenneco Clean Air India Ltd IPO - No Adrenaline Rush Here Astrotalk: A 'Belief-Tech' Unicorn Ahead of a 2027 IPO? 1. Punjab National Bank (PNB IN) Vs. Bank of India (BOI IN): Quant-Driven Pair Trade in Indian Banks Context: The Punjab National Bank (PNB IN) vs. Bank of India (BOI IN) price-ratio has deviated more than two standard deviations from its one-year average, presenting a potential relative value opportunity. Highlights: Going long Punjab National Bank (PNB IN) and short Bank of India (BOI IN) targets a 4% return. Why Read: Essential for quantitative traders seeking mean-reversion opportunities, with detailed execution framework, risk management protocols, and historical simulation showing the statistical basis for this relative value play. 2.

In this briefing: Primer: Westlake Chemical (WLK US) - Nov 2025 Primer: Celanese Corp Series A (CE US) - Nov 2025 LONG GDS: A High-Beta Asia Digital Infrastructure DC Operator Primer: Alok Industries (ALOK IN) - Nov 2025 Bajaj Finance: From Credit Tightening to Digital Acceleration – A Transition Year in Motion 1. Primer: Westlake Chemical (WLK US) - Nov 2025 Westlake Chemical is navigating a challenging period in the cyclical commodity chemicals market, evidenced by recent financial performance, including net losses in the first three quarters of 2025. Margin compression from volatile global markets and inflationary pressures has significantly impacted profitability. Strategically, the company is expanding its value-added offerings through acquisitions, such as the planned purchase of ACI/Perplastic Group. This move aims to bolster its specialty materials portfolio within the Housing and Infrastructure Products (HIP) segment, providing a potential buffer against the volatility of its Performance and Essential Materials (PEM) segment.

In this briefing: LONG GDS: A High-Beta Asia Digital Infrastructure DC Operator Primer: Alok Industries (ALOK IN) - Nov 2025 Bajaj Finance: From Credit Tightening to Digital Acceleration – A Transition Year in Motion Softbank Group: Performance Powered by OpenAI. Exits NVIDIA, Bets Big on AI Primer: Ce Holdings (4320 JP) - Nov 2025 1. LONG GDS: A High-Beta Asia Digital Infrastructure DC Operator We like GDS holdings, a high-beta play on Asia data center market, on the back of strong AI and hyperscale cloud infra growth across Asia GDS is a high beta play through 3 ways: flexible capital deployment, high velocity AI growth, as well as diversification We think AI growth and utilization may surprise on the upside. Also, establishment of a C-REIT platform will enable asset recycling at a high multiple 2. Primer: Alok Industries (ALOK IN) - Nov 2025 Alok Industries is a company in transition, navigating a post-insolvency period under the ownership of Reliance Industries Ltd (RIL) and JM Financial ARC.

In this briefing: LONG GDS: A High-Beta Asia Digital Infrastructure DC Operator Primer: Alok Industries (ALOK IN) - Nov 2025 Clear Recent Outperformance of Korean Preferred Vs. Common Shares Bajaj Finance: From Credit Tightening to Digital Acceleration – A Transition Year in Motion Softbank Group: Performance Powered by OpenAI. Exits NVIDIA, Bets Big on AI 1. LONG GDS: A High-Beta Asia Digital Infrastructure DC Operator We like GDS holdings, a high-beta play on Asia data center market, on the back of strong AI and hyperscale cloud infra growth across Asia GDS is a high beta play through 3 ways: flexible capital deployment, high velocity AI growth, as well as diversification We think AI growth and utilization may surprise on the upside. Also, establishment of a C-REIT platform will enable asset recycling at a high multiple 2. Primer: Alok Industries (ALOK IN) - Nov 2025 Alok Industries is a company in transition, navigating a post-insolvency period under the ownership of Reliance Industries Ltd (RIL) and JM Financial ARC.

In this briefing: Primer: Alok Industries (ALOK IN) - Nov 2025 Bajaj Finance: From Credit Tightening to Digital Acceleration – A Transition Year in Motion Tenneco Clean Air India Ltd IPO - No Adrenaline Rush Here Astrotalk: A 'Belief-Tech' Unicorn Ahead of a 2027 IPO? Transformers & Rectifiers (India) Ltd: Governance Jolt, Operational Pause—but Fundamentals Intact 1. Primer: Alok Industries (ALOK IN) - Nov 2025 Alok Industries is a company in transition, navigating a post-insolvency period under the ownership of Reliance Industries Ltd (RIL) and JM Financial ARC. The focus is on a strategic turnaround after a history of significant financial distress. Financial performance remains under severe pressure, characterized by persistent net losses, negative margins, and declining revenues. The path to profitability is uncertain and hinges on the successful implementation of the new management's business plan. The company's future is intrinsically linked to its integration within the RIL ecosystem.

In this briefing: Primer: Alok Industries (ALOK IN) - Nov 2025 Clear Recent Outperformance of Korean Preferred Vs. Common Shares Bajaj Finance: From Credit Tightening to Digital Acceleration – A Transition Year in Motion Softbank Group: Performance Powered by OpenAI. Exits NVIDIA, Bets Big on AI Primer: Ce Holdings (4320 JP) - Nov 2025 1. Primer: Alok Industries (ALOK IN) - Nov 2025 Alok Industries is a company in transition, navigating a post-insolvency period under the ownership of Reliance Industries Ltd (RIL) and JM Financial ARC. The focus is on a strategic turnaround after a history of significant financial distress. Financial performance remains under severe pressure, characterized by persistent net losses, negative margins, and declining revenues. The path to profitability is uncertain and hinges on the successful implementation of the new management's business plan. The company's future is intrinsically linked to its integration within the RIL ecosystem. Potential synergies in raw material sourcing and access to RIL's retail channels are key opportunities, but execution risks and intense industry competition are significant headwinds.

In this briefing: Primer: Alok Industries (ALOK IN) - Nov 2025 Bajaj Finance: From Credit Tightening to Digital Acceleration – A Transition Year in Motion Softbank Group: Performance Powered by OpenAI. Exits NVIDIA, Bets Big on AI Primer: Ce Holdings (4320 JP) - Nov 2025 Topline Flash Note: Kohat Cement (KOHC) - Corporate Briefing Key Takeaways 1. Primer: Alok Industries (ALOK IN) - Nov 2025 Alok Industries is a company in transition, navigating a post-insolvency period under the ownership of Reliance Industries Ltd (RIL) and JM Financial ARC. The focus is on a strategic turnaround after a history of significant financial distress. Financial performance remains under severe pressure, characterized by persistent net losses, negative margins, and declining revenues. The path to profitability is uncertain and hinges on the successful implementation of the new management's business plan. The company's future is intrinsically linked to its integration within the RIL ecosystem. Potential synergies in raw material sourcing and access to RIL's retail channels are key opportunities, but execution risks and intense industry competition are significant headwinds.