In today’s briefing:
- HD Hyundai Robotics Raises 200 Billion Won and NAV Analysis of HD Hyundai
- India’s Industrial Transformation: A Comprehensive Ind Primer on Reliance Ind Multi-Sector Dominance
- U.S. LNG Surge: Growth on Track, but Golden Pass Stumbles
- Deep Industries: An Oil & Gas Powerhouse Proxy of India
- Asia base oils supply outlook: Week of 25 August
- JSE Sep ‘25 Rebalance: GLN Expected to Enter Top 40, APN to Fall Out
- Cheniere Energy Secures JERA Deal: Can Such Long-Term Partnerships Improve Its Market Position?
- Canadian Natural Resources Unlocks 1
- Global base oils margins outlook: Week of 25 August
- Crescent Energy Eyes Vital Energy: The $600 Million Shale Move That Could Redraw Permian Power Maps!
HD Hyundai Robotics Raises 200 Billion Won and NAV Analysis of HD Hyundai
- HD Hyundai Robotics will raise 200 billion won ($144 million) valuing the company at 1.8 trillion won.
- Korea Development Bank and KY PE will be investing 200 billion won in HD Hyundai Robotics through a redeemable convertible preference shares in September.
- Our NAV valuation analysis of HD Hyundai suggests target price of 168,561 won per share, which represents a 27% upside from current levels.
India’s Industrial Transformation: A Comprehensive Ind Primer on Reliance Ind Multi-Sector Dominance
- Jio dominates telecom with 42% market share and 480M+ subscribers, driving India’s 5G revolution.
- Spans oil-chemicals, retail, digital services, renewable energy with vertical integration advantages across sectors.
- Targeting Net Carbon Zero by 2035 with 100 GW renewable capacity and world’s largest green energy ecosystem.
U.S. LNG Surge: Growth on Track, but Golden Pass Stumbles
- U.S. LNG capacity is set to nearly double by 2028, reinforcing America’s dominance in global energy markets.
- Golden Pass LNG faces major delays due to contractor bankruptcy, highlighting execution risks in megaprojects.
- Most other projects, including Plaquemines, Rio Grande, and Port Arthur LNG, remain on or near schedule.
Deep Industries: An Oil & Gas Powerhouse Proxy of India
- Deep Industries has posted stellar Q1 FY26 results, fueled by aggressive revenue growth and a strengthened, diversified order book.
- The company’s strategic focus on high-value, long-tenure contracts and new business verticals positions it for sustained, high double digit growth in a supportive market.
- Company re-emphasized 30% revenue growth for the next year, along with potential recovery from bad assets.
Asia base oils supply outlook: Week of 25 August
- Asia’s base oils price-premium to Singapore gasoil holds firm at levels that incentivize refiners to maintain or raise output.
- Firm margins point to still-tight supply-demand fundamentals.
- Margins hold firm even with prospect of rise in surplus base oils supply in Asia in Q3 2025 in response to pick-up in output and slowdown in demand.
JSE Sep ‘25 Rebalance: GLN Expected to Enter Top 40, APN to Fall Out
- Last night, the price snapshot was taken for the JSE September 2025 rebalance.
- GLN is expected to enter the Top 40 index, with APN falling out.
- No changes are expected for the FINDI, FINI, INDI or RESI indices.
Cheniere Energy Secures JERA Deal: Can Such Long-Term Partnerships Improve Its Market Position?
- Cheniere Energy, Inc. reported its second-quarter results for 2025, highlighting a mix of operational achievements and strategic initiatives aimed at bolstering its position in the global LNG market.
- The company reported consolidated adjusted EBITDA of approximately $1.4 billion, with distributable cash flow reaching around $920 million, and a net income of about $1.6 billion.
- These financial results reflect a robust operational performance, driven primarily by strategic initiatives and market conditions favorable to LNG trading activities.
Canadian Natural Resources Unlocks 1
- Canadian Natural Resources Limited’s (CNRL) second-quarter 2025 performance is characterized by strong operational outcomes and strategic acquisitions that contribute to the company’s long-term growth prospects.
- A key highlight is the company’s robust production capabilities, which saw 1.420 million barrels of oil equivalent per day (BOE/d) even with a five-day-early completion of a planned turnaround at Albian Sands, Alberta Oil Sands Project (AOSP), enhancing operational efficiencies.
- 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.
Global base oils margins outlook: Week of 25 August
- Global base oils prices hold at levels versus feedstock and competing fuel prices that sustain incentive for refiners to maintain or raise output.
- Margins hold firm even at time of year when surplus supply typically starts to build amid seasonal slowdown in demand.
- Firm margins could point to supply-demand fundamentals that are tighter than usual for time of year.
Crescent Energy Eyes Vital Energy: The $600 Million Shale Move That Could Redraw Permian Power Maps!
- Crescent Energy (NYSE:CRGY) is reportedly in advanced talks to acquire Vital Energy (NASDAQ:VTLE), a deal that could significantly bolster its footprint in the Permian Basin—America’s most prolific oil-producing region.
- While the transaction is still under negotiation and not guaranteed, industry sources indicate a deal could be announced as soon as next week.
- Vital Energy, with a market cap of approximately $600 million and carrying $2.3 billion in long-term debt, has seen its stock jump over 7% on acquisition speculation, while Crescent dipped slightly.
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