Daily Brief Energy/Materials: ACC Ltd, Vedanta Resources, TMC the metals co, Trigon Metals and more

• In this insight, we take a look at the Potential ADDs/DELs for the BSE SENSEX, 100, and 200 Indices in the December 2023 Rebalance.
• In July, we saw the deletion of HDFC Limited (HDFC IN) from several indices in this family which triggered multiple intra-review index changes.
• At present, I do not see any changes for the SENSEX index but I see seven ADDs/DELs for BSE 100 and five ADDs/DELs for BSE 200.

Lucror Analytics Morning Views comprise our fundamental credit analysis, opinions and trade recommendations on high yield issuers in the region, based on key company-specific developments in the past 24 hours. Our Morning Views include a section with a brief market commentary, key market indicators and a macroeconomic and corporate event calendar.

• Vedanta Resources

• The end is in sight. Although July 2023 meetings of the ISA ended without finalizing the international sea mining code, the agency made significant progress on the regulations with members re-committing themselves to complete the work on mining regulations in a timely fashion.
• The ISA rejected an attempt by a group of nations looking for a long-term moratorium or a ban on undersea mining in international waters.
• With three meetings scheduled through July 2024, the ISA will continue to work to build consensus and finalize the mining code.

• The precious metals markets rebounded well in July following a healthy consolidation period in May and June.
• Commodity prices as well as mining equities rose in the month of July, bouncing back from two modest down months in May and June.
• Also on July 12th, U.S. inflation came in at 3.0% YoY and 0.2% MoM, compared to consensus of 3.1% YoY and 0.3% MoM.