Daily BriefsMost Read

Most Read: Wipro Ltd, Toshiba Corp, Crown Resorts, ENN Energy, Royal Dutch Shell and more

In today’s briefing:

  • SENSEX Dec 21 Index Rebalance: Wipro Added, Bajaj Auto Deleted
  • Toshiba – Processing Things After Speaking to the Company
  • Crown Resorts: Blackstone Really, Really Wants This
  • HSI Index Rebalance: Tiptoeing to the 80 Index Member Target
  • Thinking About the Royal Dutch Shell “Unification”

SENSEX Dec 21 Index Rebalance: Wipro Added, Bajaj Auto Deleted

By Brian Freitas

  • As expected, the December review of the S&P BSE SENSEX Index (SENSEX INDEX) sees Wipro Ltd (WPRO IN) added and Bajaj Auto Ltd (BJAUT IN) deleted.
  • Buying on Wipro is 2.5 days of ADV and 8.2 days of delivery volume, while selling on Bajaj Auto is 4.5 days of ADV and 8.9 days of delivery volume.
  • The overweight of the Information Technology sector in the Sensex gets even bigger and the Consumer Discretionary sector gets even more underweighted vs the BSE All Cap Index.

Toshiba – Processing Things After Speaking to the Company

By Mio Kato

  • Toshiba stock has been slightly weak since earnings and its official spinoff announcement. 
  • After speaking to the company, we came away more encouraged about the core business. 
  • However, we believe real buying will not come in until there is more clarity on its future and would thus target a lower entry point.

Crown Resorts: Blackstone Really, Really Wants This

By David Blennerhassett

  • Blackstone and affiliates are offering shareholders of Crown Resorts (CWN AU) A$12.50/share in cash, a 26.2% premium to last close.
  • Crown had previously rejected Blackstone’s prior A$12.35/share proposal, opting to side with Star Entertainment Group (SGR AU)‘s bid. Star subsequently walked in July amid the Victorian Royal Commission noise.
  • Blackstone’s acquisition proposal has received preliminary approvals from various regulators. 

HSI Index Rebalance: Tiptoeing to the 80 Index Member Target

By Brian Freitas


Thinking About the Royal Dutch Shell “Unification”

By Travis Lundy

  • Earlier this week, Royal Dutch Shell (RDSA LN) announced a plan for ‘Unification’ of the A and B lines, to be put to shareholder vote in 3 weeks. 
  • The plan entails moving 10 execs to London, changing corporate and tax jurisdiction to the UK. 
  • The question investors should be asking themselves is… Is There A Trade Here?

Before it’s here, it’s on Smartkarma