In today’s briefing:
- [Tire Market] CEAT Acquires Michelin Arm As Latter Enters SUV Tire Market In India
- GNA Axles – A Positive Shift in the Business Cycle Could Be Approaching
- JSW Energy X O2 Power: 25 GW Powerhouse
[Tire Market] CEAT Acquires Michelin Arm As Latter Enters SUV Tire Market In India
- CEAT buys Off-Highway Tires (OHT) business and Camso brand for US$225 million
- CEAT to access 40 global OEMs and a vast network of OHT distributors
- Michelin expands Chennai TBR tire plant, spending US$66 million
GNA Axles – A Positive Shift in the Business Cycle Could Be Approaching
- GNA Axles is a cyclical play driven by revival of the tractor industry in India and pre-buying in commercial vehicles(trucks) in the U.S. market.
- A good monsoon in India in 2024 is expected to revive domestic tractor demand, while changes in emission regulations in the U.S. are likely to increase truck sales.
- The company is currently valued at a comfortable 18x trailing P/E, with a 15% RoE and RoCE.
JSW Energy X O2 Power: 25 GW Powerhouse
- The acquisition of O2 Power brings with it a robust portfolio of 4,696 MW of renewable energy assets, wherein JSWE’s Current operational capacity stands at 7740 MW
- JSW Energy’s total locked-in generation capacity will reach nearly 24,708 MW by June 2027, marking a substantial increase of 23% from its previous capacity of 20,012 MW
- JSW Energy can leverage its in-house EPC and O&M capabilities to unlock further value from the 4.7 GW portfolio.
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