In today’s briefing:
- kopi-C with Thakral’s CEO: “We’ve re-invented ourselves from VCRs to Drones”
- Bond Market Monitor: Prime Time Continues
- Indian Banks Screener: Bank of Baroda (BOB IN) Remains Stand Out Value
- EQD | Nikkei 225 (NKY) Forecast for October: Not So Good…
- Intercontinental Exchange Inc.: Launch of CORSIA Carbon Credit Futures Market & Other Major Developments
- M&T Bank Corporation: Inside the Strategy Fueling a Consistent Rise in Service Fees & Other Revenues! – Major Drivers
kopi-C with Thakral’s CEO: “We’ve re-invented ourselves from VCRs to Drones”
- kopi-C with Thakral’s CEO: “We’ve re-invented ourselves from VCRs to Drones” With the faster pace of development in sectors nowadays, adaptability and willingness to learn from others are crucial in business, says Thakral’s CEO Inderbethal Singh Thakral Building on the momentum, Thakral has invested in Skylark Drones, a start-up specialising in integrating drones in workflows in different industries.
Bond Market Monitor: Prime Time Continues
- Our thesis has not changed even though the Federal Reserve (the Fed) appears to be more hawkish than many investors thought.
- We expect countries with lagging rate cycles, such as China and Thailand, to suffer capital outflows and rising yields.
- In Asia, the spotlights remain on Indonesia and India where macroeconomic fundamentals continue to improve.
Indian Banks Screener: Bank of Baroda (BOB IN) Remains Stand Out Value
- We maintain that Bank of Baroda is the stand-out value in this peer group of Indian banks, for its modest valuations, healthy ROE and improving pre- and post-provision returns
- We retain HDFC Bank as our higher quality bank pick, with its strong balance sheet, especially on NPA coverage, and potential for improved return from the HDFC merger
- Axis bank remains a name to watch, although valuations are not compelling; we remain negative on State Bank of India, and we are also cautious on ICICI Bank
EQD | Nikkei 225 (NKY) Forecast for October: Not So Good…
- The Nikkei 225 INDEX closed September down at 31857.62, CC=-3 (3 months down). Did not double-bottom at August’s lows (31674), but is starting to be OVERSOLD MONTHLY (time perspective).
- A new Market Reversal Matrix Seasonality model is hinting that October 2023 probably will not see a rally/reversal, but just below-average gains (if any).
- One possible scenario (due to concomitant WEEKLY OVERSOLD conditions) is to see the Nikkei up early in October, then down again, closing the month with small gains or a loss.
Intercontinental Exchange Inc.: Launch of CORSIA Carbon Credit Futures Market & Other Major Developments
- Intercontinental Exchange, Inc. had a strong quarter, with adjusted earnings per share of $1.43, an increase of 8% over the prior year.
- In the Exchange segment, net revenues totaled $1.1 billion, up 9% over the prior year.
- Also, because of these improvements, they have seen a roughly 60% increase in energy volume performed through their ICE Chat platform over the first half of this year.
M&T Bank Corporation: Inside the Strategy Fueling a Consistent Rise in Service Fees & Other Revenues! – Major Drivers
- M&T Bank Corporation delivered an all-around beat in the previous quarter.
- The quarter’s net income was $867 million, a 24% increase over the previous quarter.
- Trust income dropped from $194 million in the first quarter to $172 million in the most recent quarter.
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