In today’s briefing:
- Passive Flow Action Around Kumyang: Eyes on Miwon SC for the Play
- [ETP 2025/08] WTI Rises on Supply Disruptions, While Henry Hub Surges on Cold Snap
- DuPont De Nemours: What the $4.3 Billion Electronics Exit Means for Investors!
- Energy Transfer LP: Its Expanding Gas Network & 5 Key Drivers Shaping Its Performance for 2025 & Beyond!
- Godawari Power & Ispat Limited Q3 FY25 Update: De-Growth Due to Lower Iron Ore and Pellet Production
- Apcotex Industries Ltd Q3FY25 Update: Capacity Utilisation and Industry Dynamics Driving Growth
- Trualt Bioenergy Limited Pre-IPO – Built in a Flash: The Rapid Rise to an IPO
- [Earnings Review] BP Reports Weakest Profit Since 2020, but Elliott’s Stake Sparks a Rally
Passive Flow Action Around Kumyang: Eyes on Miwon SC for the Play
- KRX will replace Kumyang with the top backup from Materials—Miwon Specialty Chemical (268280 KS)—based on the last rebalancing.
- Kumyang jumped 15% today, but it’s likely just speculative mania off the battery sector bounce—not a sign they dodged KRX’s penalty.
- Kumyang still trades like a casino, and with this trade volume, its KOSPI 200 exit likely has minimal passive impact. The cleaner trade is on the inclusion name.
[ETP 2025/08] WTI Rises on Supply Disruptions, While Henry Hub Surges on Cold Snap
- For the week ending 14/Feb, U.S. crude inventories increased by 4.6m barrels, exceeding expectations of a 3.2m barrel build. Gasoline stockpiles surprisingly fell, while distillate stocks dropped more than expected.
- U.S. natural gas inventories fell by 196 Bcf for the week ending 14/Feb, beating analyst expectations of a 191 Bcf drawdown. Inventories are 5.3% below the 5-year seasonal average.
- Occidental’s Q4 adjusted EPS rose 8.1% YoY, beating estimates by 18.1%. However, it posted a net loss of USD 297 million. Wolfe Research, UBS, and Susquehanna raised price targets.
DuPont De Nemours: What the $4.3 Billion Electronics Exit Means for Investors!
- DuPont delivered a robust performance in the fourth quarter of 2024, capping off a strong year.
- The company’s sales increased by 7%, driven by significant organic growth in both Electronics & Industrial (E&I) and Water & Protection (W&P).
- E&I continued to benefit from high demand in electronics markets, particularly in semiconductors and AI-related technologies, while W&P saw a rejuvenation in organic sales led by health care markets and water solutions.
Energy Transfer LP: Its Expanding Gas Network & 5 Key Drivers Shaping Its Performance for 2025 & Beyond!
- Energy Transfer LP reported strong financial performance for the fourth quarter and full year of 2024, achieving an adjusted EBITDA of $15.5 billion—an increase of 13% over 2023 and marking a record for the partnership.
- The distributable cash flow (DCF) attributable to partners also reached a record $8.4 billion, up 10% from the previous year.
- The company saw a notable increase in various segments, including interstate, midstream, natural gas liquids (NGL), and crude segments, alongside record exports of NGLs. 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.
Godawari Power & Ispat Limited Q3 FY25 Update: De-Growth Due to Lower Iron Ore and Pellet Production
- Godawari Power and Ispat (GODPI IN) Q3 FY25 results show revenue and EBITDA declines due to lower iron ore and pellet production, despite improved volumes in HB wires and fabricated products.
- These declines highlight operational challenges affecting profitability, emphasizing the need for capacity expansion and enhanced cost controls in a competitive global steel market.
- The company dropped the plan to set up a greenfield integrated steel plant of 2 million tons. Instead, GPIL is evaluating alternative projects with lower capacity and capex.
Apcotex Industries Ltd Q3FY25 Update: Capacity Utilisation and Industry Dynamics Driving Growth
- Apcotex Industries (APCO IN) operational revenue rose 38.2% YoY to INR 3,553 million in Q3 FY25, driven by strong volume gains and a 30% YoY increase in export volumes.
- Robust volume and export growth, alongside management’s capacity and anti-dumping initiatives, position Apcotex for margin recovery and long-term revenue expansion.
- The company expects margins to improve in Q4, driven by better capacity utilisation and an improving situation in the XNB (Nitrile Latex) business due to duties imposed by the US.
Trualt Bioenergy Limited Pre-IPO – Built in a Flash: The Rapid Rise to an IPO
- Trualt Bioenergy Ltd (2350587D IN) (TBL) is planning to raise about US$120m through its upcoming India IPO.
- TBL is one of India’s largest biofuels producers. As of FY24, TBL’s business verticals were Ethanol, ENA (Extra Neutral Alcohol), CBG (Compressed Biogas), FOM (Fermented Organic Manure), CO2 (Carbon Dioxide).
- As per the CRISIL Report, TBL held the distinction of being the largest ethanol producer in India based on installed capacity, as of Mar 24.
[Earnings Review] BP Reports Weakest Profit Since 2020, but Elliott’s Stake Sparks a Rally
- BP’s Q4 revenue declined 12.3% YoY, missing estimates by 2.6%, while EPS fell 58.9% YoY and missed estimates by 3.4%. Underlying net profit dropped 60.9% YoY to USD 1.17 billion.
- Elliott acquired a 5% stake in BP, becoming its third-largest shareholder. The activist fund is likely to push for a stronger focus on fossil fuels and a pullback on renewables.
- BP’s Q4 cash flow dropped 20.8% YoY to USD 7.4 billion, while net debt climbed 10% to USD 23 billion. Despite this, it announced a USD 1.75 billion share buyback.
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