In today’s briefing:
- Ashok Leyland (AL IN) | Some Pricing Discipline, Inventory Levels Remain High
- EQD | FXI (FXI US): – Could Chinese Equities Lead the Way Higher? Use Options for Delta
- Yunsung F&C IPO Preview
Ashok Leyland (AL IN) | Some Pricing Discipline, Inventory Levels Remain High
- Ashok Leyland (AL IN) ‘s expectation of a more rational pricing environment may not materialise. While there has been a moderation in discounts, it may not last long.
- Wholesales have been high in anticipation of a good festive season, however, the gap between Wholesale and Retail is showing signs of widening.
- Macros are not conducive. Sept PMI hit a 3M low, and August IIP at an 18M low can build a case for cooling volumes ahead.
EQD | FXI (FXI US): – Could Chinese Equities Lead the Way Higher? Use Options for Delta
- 20th National Congress of the Communist Party is due to kick off this week
- Will economic growth be top of the agenda and is there any scope to adjust the Covid strategy?
- With many potential growth factors, use derivatives to gain delta exposure
Yunsung F&C IPO Preview
- Yunsung F&C is a leading maker of materials mixing equipment that are used in the rechargeable battery production.
- The IPO price range is from 53,000 won to 62,000 won and offering amount is from 106 billion won to 124 billion won. The book building starts on 26 October.
- According to the bankers’ valuation, the expected IPO market cap range is from 423 billion won to 495 billion won.
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