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In today’s briefing:
- Boeing: Turbulent Times – [Business Breakdowns, EP.129]
- Small Scale Share Swap Between DL E&C and DL Construction + Delisting
- Triveni Turbine Ltd- Forensic Analysis
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Boeing: Turbulent Times – [Business Breakdowns, EP.129]
- Boeing is a globally recognized company in the aerospace industry that was founded in 1916 by William Boeing.
- The company’s business model includes three segments: commercial, defense, and services, with the commercial segment being the largest, accounting for nearly 40% of its revenues.
- Boeing has played a crucial role in the evolution of the aviation industry, from fabric airplanes to carbon fiber composite jetliners that can fly long distances without stopping.
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Small Scale Share Swap Between DL E&C and DL Construction + Delisting
- On 18 October, DL E&C announced that it will conduct a small scale share swap with DL Construction to make it into a 100% wholly owned subsidiary.
- We believe this merger share swap will have a positive impact on both DL E&C (375500 KS) and DL Construction (001880 KS) shares.
- To prevent shares dilution, DL E&C plans to cancel the same number of treasury shares of common stock as the number of newly issued shares of DL E&C common stock.
Triveni Turbine Ltd- Forensic Analysis
- Triveni Turbine (TRIV IN) is one of the leading players in manufacturing of steam turbines, which in turn has uses across various energy intensive industries.
- The company has recovered well from covid, has a robust order book in conjuction with healthy financial position. Balance sheet is debt-free, high cash and lean WC cycle.
- The only possible risk that comes to the balance sheet would be of potential statutory disputes. The contingent liabilities remain under-stated.