In today’s briefing:
- Basis for the 5 Trillion Won Moving Money Estimate for KOSPI Size Index Migration Event
- Juniper Green Energy Ltd Pre-IPO Tearsheet
- Origin Energy Ltd – Next Week At A Glance – 14-18 Jul 2025
- Novozymes – Can Double-Digit Organic Growth & Global Diversification Fuel Long-Term Outperformance?
- [IO Technicals 2025/28] Bullish Momentum Intensifies
- Repsol – Strategic Asset Shuffle Sparks EUR 2 Billion Windfall!
- Warriedar Resources Ltd – Exploration Update
- Kurotani Corp (3168 JP): Q3 FY08/25 flash update
Basis for the 5 Trillion Won Moving Money Estimate for KOSPI Size Index Migration Event
- NPS allocates ~6% of its 76T won consignment book to mid/small-cap, with ~3.6T effectively benchmarked to the KOSPI Mid Cap Index via its hybrid BM.
- Publicly raised funds add ~1.1T won across 358 products benchmarked to KOSPI Mid Cap, bringing total estimated exposure (incl. NPS) to ~4.7T won.
- Including other pensions and off-radar private funds, total KOSPI Mid Cap exposure rounds out to ~5T won — the base case local street uses for passive impact modeling.
Juniper Green Energy Ltd Pre-IPO Tearsheet
- Juniper Green Energy Ltd (1831458D IN) (JGEL) is looking to raise about US$350m in its upcoming India IPO. The bookrunners for the deal are ICICI, HSBC, JM Fin, Kotak.
- JGEL is an independent power producer (IPP) engaged in the development, construction, operation, and maintenance of utility-scale renewable energy projects.
- According to the CRISIL Report, JGEL ranked among the top 10 largest renewable IPPs in India by total capacity as of Dec 24.
Origin Energy Ltd – Next Week At A Glance – 14-18 Jul 2025
- A brief look at important company events and economic data releases next week
Novozymes – Can Double-Digit Organic Growth & Global Diversification Fuel Long-Term Outperformance?
- Novonesis has delivered a robust performance in the first quarter of 2025, highlighted by an 11% organic sales growth.
- This includes a 10% growth driven by volume and an additional 1% from pricing.
- The company has shown widespread geographic stability with emerging markets experiencing a substantial 15% growth, while developed markets reported a 9% increase.
[IO Technicals 2025/28] Bullish Momentum Intensifies
- Iron ore demand remains strong as supply tightens from Australia and Brazil, and China pushes for industrial reforms that could support raw material prices.
- Despite macroeconomic headwinds and Malaysian tariffs on Chinese steel, robust mill profits, and limited production curbs are expected to sustain iron ore demand.
- Prices are trading above key moving averages, suggesting ongoing upside momentum, while the MACD above its signal line confirms the prevailing bullish bias.
Repsol – Strategic Asset Shuffle Sparks EUR 2 Billion Windfall!
- Repsol’s Q1 2025 earnings report underscores both resilience and challenges amidst a fluctuating market environment.
- The company’s diverse portfolio showcases its strategic agility, enabling it to advance its goals despite external pressures such as geopolitical tensions and varying oil prices.
- The first quarter was characterized by significant market volatility, triggered by OPEC’s production policies and geopolitical tensions, leading to the lowest oil prices in four years.
Warriedar Resources Ltd – Exploration Update
- Warriedar Resources Limited (ASX:WA8) is an emerging gold and antimony developer whose flagship Golden Range project hosts ~2.3moz in AuEq resources in the prolific gold-producing Murchison region of Western Australia.
- Since the acquisition of the project in CY23, WA8 has expanded the gold resource and delineated a globally significant antimony resource which is also contained in the core Ricciardo deposit.
- Whilst the gold resource alone could support a commercial development, the overlapping antimony resource not only increases the economic value, it adds a strategic value to the project given the supply shortages and trade restrictions affecting this commodity.
Kurotani Corp (3168 JP): Q3 FY08/25 flash update
- In cumulative Q3 FY08/25, the company reported revenue of JPY62.0bn, operating loss of JPY376mn, and net loss of JPY388mn.
- Sales volume for ingots increased 15.9% YoY, while recycled materials sales volume decreased 10.2% YoY.
- The company forecasts FY08/25 operating loss of JPY197mn and net loss of JPY412mn, maintaining its revised forecast.
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