In today’s briefing:
- Quiddity Leaderboard KOSPI 200 Jun 24: Four Changes Likely
- Will the Hyundai Marine Solution IPO Follow in Ecopro Materials’ Footsteps After It Goes Public?
- Carr’s Group – An enhanced value creation strategy
- Kondotec (7438): Q3 FY03/24 Update
- ASGN Incorporated: How Is The Adoption of Artificial Intelligence (AI) in Service Delivery Benefiting Them? – Major Drivers
- Sensata Technologies: These Are The 4 Pivotal Factors Influencing Its Performance! – Financial Forecasts
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Quiddity Leaderboard KOSPI 200 Jun 24: Four Changes Likely
- KOSPI 200 is a Korean blue-chip index that tracks the 200 largest and most-liquid names listed in the KOSPI section of the Korea Exchange (KRX).
- In this insight, we take a look at the names leading the race to become ADDs and DELs during the upcoming semiannual review in June 2024.
- We expect up to four changes in the KOSPI 200 index during the June 2024 index rebal event (down from 5 expected last month) based on the latest available data.
Will the Hyundai Marine Solution IPO Follow in Ecopro Materials’ Footsteps After It Goes Public?
- The prospect of this IPO mirroring the post-listing rallies seen with Ecopro Materials is what keeps local institutions fixated on this IPO despite valuation issues.
- The key factors are speculative trading frenzy among local retail investors and subsequent passive inflows through early entry into KOSPI 200/MSCI Standard.
- Considering two factors is vital. Hyundai Marine Solution’s IPO size is twice Ecopro Materials’, potentially limiting speculative buying. Sector-wide rallies, crucial for Ecopro Materials, haven’t been as prominent in shipbuilding.
Carr’s Group – An enhanced value creation strategy
Carr’s Group has announced an updated strategy that offers the potential for value realisation and creation from a number of avenues. These include: value realisation of the Engineering Division; the ability to significantly reduce central costs; and longer-term value creation in the Agriculture Division as a focused business with recovery potential and a strategy to leverage its strong market positions for growth.
Kondotec (7438): Q3 FY03/24 Update
- Kondotec Inc (7438 JP) is a wholesaler of construction materials in the same league as companies such as Okabe Co., Ltd. (TSE PRM: 5959).
- In FY03/23, sales amounted to JPY75.4bn (+14.1% YoY), operating profit came to JPY4.4bn (+21.2% YoY), recurring profit was JPY4.6bn, and net income attributable to owners of the parent was JPY2.4bn.
- Kondotec Inc. announced changes to its lineup of representative directors (a change of president).
ASGN Incorporated: How Is The Adoption of Artificial Intelligence (AI) in Service Delivery Benefiting Them? – Major Drivers
- ASGN Incorporated recently held its fourth quarter and full year 2023 earnings call.
- The company reported solid results for the fourth quarter with revenues, gross margin and adjusted EBITDA margin all landing at the upper end or above their respective guidance ranges.
- The annual revenue for 2023 amounted to approximately $4.5 billion, $2.4 billion of which was attributed to commercial and government IT consulting work.
Sensata Technologies: These Are The 4 Pivotal Factors Influencing Its Performance! – Financial Forecasts
- Sensata Technologies fourth quarter and full year 2023 earnings revealed several key points investors may consider.
- With growth in electrification revenue by approximately 50% year-over-year to $700 million in 2023, this trend is considered a major driver for future performance.
- The company has also reduced gross and net leverage, via an updated capital allocation strategy, which places higher emphasis on organic growth and lower focus on M&A. Baptista Research looks to evaluate the different factors that could influence the company’s price in the near future and attempts to carry out an independent valuation of the company using a Discounted Cash Flow (DCF) methodology.