India - Politics, Industrials, IT and Large Caps, EMAlpha

Pankaj Sharma

India - Politics, Industrials, IT and Large Caps

Equity Bottom-Up

It has been reported that Govt of India, a majority shareholder in Coal India, has reduced company’s production target for the current financial year (April 2017 to March 2018). The cut has been steep, from 660 million tonnes to 600 million tones. (<a href="http://www.livemint.com/Industry/HQ11vy1v8UCMbg4OiuLKbJ/Coal-India-FY18-production-target-cut-on-weak-demand.html" target="_blank">News Report</a>)<div class="content-highlight">The reason for production target cut is weak demand. This is an unprecedented situation as very rarely in history, Coal India had to worry about the demand. It was as simple as this: produce as much as you can and sales will happen…</div>

It has been reported that Govt of India, a majority shareholder in Coal India, has reduced company’s production target for the current financial year (April 2017 to March 2018). The cut has been steep, from 660 million tonnes to 600 million tones. (News Report)The reason for production target cut is weak demand. This is an unprecedented situation as very rarely in history, Coal India had to worry about the demand. It was as simple as this: produce as much as you can and sales will happen…

Coal India FY18 Production Target Cut, Subdued Coal Demand Is a Big Worry for Many Sectors

Recently, Coal Controller’s Organization (CCO) which is responsible for grading and classification of coal mines in India has downgraded 177 of Coal India Ltd’s 413 mines. This is an important event in our view.<h2>Background</h2>1. Coal India is one of the largest coal producers in the world and produces approximately 550 million tonnes every year. The company was formed after the nationalization of the coal mining industry in the 1970s.2. Most of the coal reserves in India are of relatively poor…

Recently, Coal Controller’s Organization (CCO) which is responsible for grading and classification of coal mines in India has downgraded 177 of Coal India Ltd’s 413 mines. This is an important event in our view.Background1. Coal India is one of the largest coal producers in the world and produces approximately 550 million tonnes every year. The company was formed after the nationalization of the coal mining industry in the 1970s.2. Most of the coal reserves in India are of relatively poor…

Coal India: Is the Market Ignoring Potential Decline in Pricing Risk?

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David Riedel

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Independent equity research on GEM Markets

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Thematic (Sector/Industry)

Hungary: Faster earnings growth should drive GDP higher in coming months. Mexico: Expected to raise rates 50bps next Thursday in the wake of inflation reported this week at 5.3% (the highest rate in 8 years).  This is a critical positive development for the Peso. Saudi Arabia: Has the most to lose from lower prices as this complicates attempts to diversify their economy.  Iran is less concerned as they are just coming off of sanctions and any revenue they get is better than before.  Iraq would…

Hungary: Faster earnings growth should drive GDP higher in coming months. Mexico: Expected to raise rates 50bps next Thursday in the wake of inflation reported this week at 5.3% (the highest rate in 8 years).  This is a critical positive development for the Peso. Saudi Arabia: Has the most to lose from lower prices as this complicates attempts to diversify their economy.  Iran is less concerned as they are just coming off of sanctions and any revenue they get is better than before.  Iraq would…

Who Wins and Who Loses from Oil Under $50? Hint: Invest in Asia

Asia-Focused Industry Research, Speeda Research

Speeda

Asia-Focused Industry Research

Speeda Research

Speeda Research analysts cover China, Japan, India and SEA on the latest trends and topics. We have analysts of diverse nationalities who are able to access information in their respective local languages to provide customers with comprehensive reports. With access to private company data in these regions, Speeda Research is also able to provide insights into niche sectors which are not usually covered by other parties. We are also able to undertake ad hoc company and industry research reports.

In July 2015, the Indian government set a target of 10 million PNG (piped natural gas) connections to be made within two years. But as of September 2016, the government was 7 million short of its goal with the odds of achieving it in less than a year seeming very low. Increasing PNG and CNG (compressed natural gas) connections are part of the government’s wider plan to more than double the share of natural gas in India’s energy mix to 20% by 2025. To achieve this goal, the government needs to ramp up transmission infrastructure and increase capacity of import infrastructure to cater to the expected surge in natural gas imports, apart from introducing key policies with regards to pricing, taxation and regulation. Based on past evidence and the information provided within this report, we think the government will fall short of its energy mix targets, just like it did in the PNG segment.

In July 2015, the Indian government set a target of 10 million PNG (piped natural gas) connections to be made within two years. But as of September 2016, the government was 7 million short of its goal with the odds of achieving it in less than a year seeming very low. Increasing PNG and CNG (compressed natural gas) connections are part of the government’s wider plan to more than double the share of natural gas in India’s energy mix to 20% by 2025. To achieve this goal, the government needs to ramp up transmission infrastructure and increase capacity of import infrastructure to cater to the expected surge in natural gas imports, apart from introducing key policies with regards to pricing, taxation and regulation. Based on past evidence and the information provided within this report, we think the government will fall short of its energy mix targets, just like it did in the PNG segment.

Falling Natural Gas Production and Poor Import Infra Make PNG a Distant Dream for Most Indians

Asia focused research insights & advisory, Asia Advisors

Vinay Patel

Asia focused research insights & advisory

Asia Advisors

Asia Advisors is an independent financial advisory and research firm working closely with corporates and institutions to provide consulting solutions & research insights. We provide advisory services including capital solutions, business strategy and investment insights.
Firm is headed by Vinay Patel who has close to two decades of experience in research and business development at large, international investment banks such as HSBC and ICICI Securities. Led research efforts in areas of Macroeconomics, Asset Allocation & Investment Strategy for close to a decade in global & domestic research teams. As a business head in Singapore, advised top global investment management firms & Portfolio managers in Asia for India related investments.
Vinay was recently joined by Swapnil Manish, an investment banker and ex-ecommerce entrepreneur with more than 12 years of experience. Swapnil was the TMT banker at BNP Paribas and was part of several large M&A and ECM transactions (Bharti-Zain, Bharti Infratel IPO, Schneider-Zicom among several others). He's also had a stint as an ecommerce entrepreneur having launched & led Mumbai's first online grocery player.

Expectations on economic reforms from Modi government are running high after the big win in Uttar Pradesh. Political analysts are expecting this win to ease Modi's chances for another term at national elections in 2019 and that would give him total 7 year period to push for reforms (In his victory speech Modi himself said he is now looking for delivering by 2022 - the 75th year of Indian Independence). Amidst the euphoria of Modi's victory, we would like to highlight some of the ground realities…

Expectations on economic reforms from Modi government are running high after the big win in Uttar Pradesh. Political analysts are expecting this win to ease Modi's chances for another term at national elections in 2019 and that would give him total 7 year period to push for reforms (In his victory speech Modi himself said he is now looking for delivering by 2022 - the 75th year of Indian Independence). Amidst the euphoria of Modi's victory, we would like to highlight some of the ground realities…

Investors Need To Be Patient With Reform Momentum Even As Modi Win Ensures Policy Continuity

India

Coal India Limited produces and markets coal and coal products, as well as provides related consulting services.

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Coal India Ltd (COAL IN)

Coal India FY18 Production Target Cut, Subdued Coal Demand Is a Big Worry for Many Sectors

It has been reported that Govt of India, a majority shareholder in Coal India, has reduced company’s production target for the current financial...

Pankaj Sharma

Coal India: Is the Market Ignoring Potential Decline in Pricing Risk?

Recently, Coal Controller’s Organization (CCO) which is responsible for grading and classification of coal mines in India has downgraded 177 of...

Pankaj Sharma

Who Wins and Who Loses from Oil Under $50? Hint: Invest in Asia

Hungary: Faster earnings growth should drive GDP higher in coming months.Mexico: Expected to raise rates 50bps next Thursday in the wake of...

David Riedel

Falling Natural Gas Production and Poor Import Infra Make PNG a Distant Dream for Most Indians

In July 2015, the Indian government set a target of 10 million PNG (piped natural gas) connections to be made within two years. But as of September...

Speeda Research

Investors Need To Be Patient With Reform Momentum Even As Modi Win Ensures Policy Continuity

Expectations on economic reforms from Modi government are running high after the big win in Uttar Pradesh. Political analysts are expecting this...

Asia Advisors

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