In today’s briefing:
- Deepak Nitrite: Forensic Analysis
- POSCO Holdings: Treasury Shares Cancellation Worth 3% of Outstanding Shares
Deepak Nitrite: Forensic Analysis
- Deepak Nitrite (DN IN) has emerged as one of the key players in the chemical intermediate industry over the last few years.
- The company’s emergence saw a structural and more or less a positive change in the balance sheet health and overall scheme of operations.
- The green flags include strong balance sheet position and surging return ratios, while the red flags include poor cash transmission and margin losses lately.
POSCO Holdings: Treasury Shares Cancellation Worth 3% of Outstanding Shares
- On 12 August, POSCO Holdings announced that it will cancel treasury shares worth 3% of outstanding shares involving 2.6 million shares worth 672 billion won.
- The cancellation of treasury shares is a shareholder friendly policy that will improve the company’s ROE and P/E ratios. The treasury shares cancellation will be completed on 22 August 2022.
- The combination of treasury shares cancellation and high dividend yield is likely to lead to higher probability of POSCO Holdings outperforming KOSPI on a total returns basis this year.
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