In today’s briefing:
- SET50 Index Rebalance Preview: KCE Could Replace TIDLOR
- Valeura Energy (TSX: VLE): Another good quarter. Re-iterating FY23 guidance
SET50 Index Rebalance Preview: KCE Could Replace TIDLOR
- With the review period complete, KCE Electronics PCL (KCE TB) should replace Ngern Tid Lor (TIDLOR TB) in the SET50 INDEX at the December rebalance.
- Liquidity is poor in Intouch Holdings (INTUCH TB) and Thai Life Insurance (TLI TB) but the stocks should be maintained in the index.
- Passive trackers will need to buy 0.9x ADV (1.2% of float) of KCE Electronics PCL (KCE TB) and sell 0.8x ADV (1.6% of float) of Ngern Tid Lor (TIDLOR TB).
Valeura Energy (TSX: VLE): Another good quarter. Re-iterating FY23 guidance
- • 3Q23 production of 19,961 bbl/d and net cash at the end of September of ~US$103 mm had already been announced.
- Current aggregate production from these two wells is ~1,600 bbl/d, which will support production from the field in 4Q23.
- Our YE24 estimated net cash (>US$460 mm) represents ~1.5x the current market cap of the company.
💡 Before it’s here, it’s on Smartkarma
Sign Up for Free
The Smartkarma Preview Pass is your entry to the Independent Investment Research Network
- ✓ Unlimited Research Summaries
- ✓ Personalised Alerts
- ✓ Custom Watchlists
- ✓ Company Data and News
- ✓ Events & Webinars
