Daily Brief Industrials: Hanwha Ocean , Namura Shipbuilding, APi Group, Lumino Industries Ltd, Crane , Moog Inc Class A and more

• This 20% reversion and 30% cap setup creates solid flow trades. With just 13 holdings, SOL ETF’s weight swings hard—Hanwha Ocean’s already pushing 27% post-rebal.
• Constituent changes drive the biggest dislocations—still the main setup. “The other 10” names are FICS-screened by market cap (May/Nov cut), making rotations fairly predictable.
• With AUM only ramping recently, this ETF is still in price discovery mode. Pre-positioning ahead of flows has juice, making it a prime target for aggressive flow trading.

• JPX-Nikkei 400 is composed of common stocks listed on the Tokyo Stock Exchange. It is a free-float-adjusted capped index composed of 400 constituents.
• The annual index review takes place in August every year. We look at the latest rankings of potential ADDs/DELs every month.
• Below is a look at the rankings of potential ADDs/DELs for the JPX-Nikkei 400 August 2025 rebalance based on trading data as of end-January 2025.

• API Group, a provider of life, safety, and specialty services to buildings, has seen significant growth under CEO Ross Becker and with involvement from investor Sir Martin Franklin.
• Started as a small plumbing company in the 1960s, now a global leader in fire protection, security, and building services
• Shifted from one-off construction projects to recurring revenue model, with over 55% of revenue now recurring

This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only.

• Lumino Industries Ltd (0349204D IN) is looking to raise about US$116m in its upcoming India IPO. The bookrunners for the deal are Motilal, JM Fin, Monarch.
• Lumino Industries Ltd (LIL) was established in 2005. The company is a product-driven integrated engineering, procurement, and construction (EPC) player in India.
• As per CRISIL Report, Lumino Industries is recognized as the fastest-growing player in the conductors, power cables, and power EPC industry, in terms of revenue CAGR between FY22 to FY24.

• Crane Company recently released its second quarter 2024 earnings report, highlighting strong financial performance, strategic growth initiatives, and disciplined capital management.
• The company’s adjusted EPS of $1.30 exceeded expectations, driven by a solid 9% core sales growth, with significant contributions from its Aerospace & Electronics and Process Flow Technologies segments.
• The company’s confident outlook led to an upward revision of its full-year guidance by $0.15, setting a new range of $4.95 to $5.15, representing an 18% growth at the midpoint.

• Moog Inc.’s first quarter fiscal 2025 results indicate a robust start to the year, with significant achievements in various segments of its business.
• The company reported sales of $910 million, a 6% year-over-year increase, underscoring strong performance particularly in Military Aircraft, Commercial Aircraft, and Space and Defense, although Industrial sales declined due to divestitures and soft market conditions.
• 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.