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- A + A MELBOURNE (Aug 17): Santos does not expect the Australian government to curb exports from the country's three east coast liquefied natural gas (LNG) plants, as the owners will find a way to supply enough fuel to the domestic market to avert a forecast shortfall. On Aug 1, the competition watchdog urged the government to consider curbing gas exports under the Australian Domestic Gas Security Mechanism (ADGSM) for the first time, warning that the country faced a gas supply shortfall in 2023. Santos Chief Executive Kevin Gallagher said he expects the three east coast LNG exporters — GLNG run by Santos, QCLNG run by Shell Plc, and APLNG run by ConocoPhillips — to reach a deal with the government to cover the forecast 56 petajoules shortfall from their uncontracted gas volumes. Santos' GLNG plant is seen as the most likely of the three east coast LNG plants to face export curbs, as GLNG takes some gas from the domestic market to help meet its LNG export sales, … [Read more...] about Santos confident Australia will not trigger gas export curbs

Share to Twitter Share to Linkedin Topline Georgia’s six-week abortion ban will remain in effect as a court challenge against it moves forward, a state judge ruled Monday, as abortion providers file a string of lawsuits aiming to halt state-level bans that went into effect after the U.S. Supreme Court overturned Roe v. Wade. Key Facts Georgia: A state Superior Court judge declined to block the state’s six-week abortion ban Monday while the litigation against it proceeds, rejecting a request from abortion providers and advocates who sued to overturn the law after a federal judge allowed it to take effect in July. Idaho: The Idaho Supreme Court ruled Friday that the state’s trigger law outlawing nearly all abortions can take effect August 25 as abortion providers’ litigation against it moves forward, and also allowed a six-week ban to take effect immediately, which is modeled after Texas’ six-week abortion ban and allows private citizens to … [Read more...] about Georgia Abortion Ban To Stay In Effect, Judge Rules—Here’s Where State Lawsuits Stand Now

A man wade through thigh-high flood waters in Barangay Labangon, Cebu City following a heavy downpour on Wednesday afternoon, August 17. (Photo courtesy of Barangay Labangon Facebook) CEBU CITY — A heavy downpour that started at around 4 p.m. on Wednesday flooded several areas in Metro Cebu and left many people stranded. Some families, especially in the city’s mountain villages, were evacuated, according to lawyer Gerardo Carillo, head of the Cebu City Disaster Risk Reduction and Management Council. “We’re waiting for reports from the ground,” he said in an 8 p.m. phone interview. The floods in Cebu City’s major thoroughfares stranded people on their way home and forced some to seek refuge in business establishments and other shelters in the affected areas. Carillo said they will pass a resolution that will give people who encroached into the three-meter easement zones in at least seven waterways in the city seven to 10 days to leave for good to prevent untoward incidents … [Read more...] about Heavy rains cause floods in Metro Cebu; leave people stranded

Representative image PRO Only Highlights - Quarterly performance largely backed by improved realisations - Medium-term triggers China plus and protectionist measures for tyre industry - Valuations not inexpensive; but improved medium-term outlook Capital goods and engineering companies are smiling after a very long time. Most companies have benefitted from the recovery, which has just begun. Despite higher commodity prices and interest rates, most of these companies have reported strong order inflows and a very healthy pipeline as private and public capital spends have started to kick in. Reflecting this trend, ABB India has reported its highest quarterly revenue for the first time after Covid-19. The Covid-led stress had a huge impact,... … [Read more...] about ABB India: On a strong earnings trajectory

Coal India determines the prices of domestic coal based on various factors such as costing, future projects viability, changes in inflationary cost indices, competitiveness with imported coal, among other factors. PRO Only Highlights - Quarterly performance largely backed by improved realisations - Medium-term triggers China plus and protectionist measures for tyre industry - Valuations not inexpensive; but improved medium-term outlook The Q1FY23 results for Coal India (CIL; CMP: Rs222; Market capitalisation: Rs136597crore) were above Street expectation. As per press reports, the central government has rolled back the order that mandated power plants to import 10 percent of their coal requirement and blend it with domestic supply. This withdrawal of the mandatory blending order indicates adequate stocks at power plants, ahead of the annual rise in coal demand post monsoon when electricity demand picks up. With demand from the power... … [Read more...] about Coal India: Is this outperformance likely to sustain?

PRO Only Highlights - Quarterly performance largely backed by improved realisations - Medium-term triggers China plus and protectionist measures for tyre industry - Valuations not inexpensive; but improved medium-term outlook MapmyIndia (CE Info systems; CMP: Rs 1,347.05; Market cap: Rs 7,172 crore) positively surprised the markets with a strong performance across all parameters in Q1FY23 and marked a good beginning for the fiscal year. The company created two records in the quarter -- the highest-ever quarterly revenue of Rs 65 crore, and an EBITDA margin of 46 percent. The recently acquired IOT business, Gtropy, generated revenue of Rs 8 crore in the quarter, with zero EBITDA. Q1FY23 financial performance (image) (image) Early... … [Read more...] about MapmyIndia: With two records in Q1, the growth map enjoys a moat

Adani Ports | CMP: Rs 807 | The stock ended in the red on August 8. Net profit went down 18% at Rs 1,072.4 crore against Rs 1,307 crore (YoY). However, revenue was up 20.6% at Rs 4,638 crore against Rs 3,845 crore (YoY). Its EBITDA was down 31% at Rs 1,809 crore against Rs 2,620 crore (YoY) while margin came in at 38.9% against 57.5% (YoY). PRO Only Highlights - Quarterly performance largely backed by improved realisations - Medium-term triggers China plus and protectionist measures for tyre industry - Valuations not inexpensive; but improved medium-term outlook The recovery in the core economy and international trade, following the slowing of the Covid pandemic, has hugely benefitted India’s largest ports operator Adani Ports and SEZ. The company’s expanding reach, diversification, cost rationalisation, and other initiatives to integrate ancillary operations are now paying a good dividend. In fiscal 2022, the company had achieved a total volume of around 312 … [Read more...] about Adani Ports & SEZ: What will put wind in the sails for the stock?

PRO Only Highlights - Quarterly performance largely backed by improved realisations - Medium-term triggers China plus and protectionist measures for tyre industry - Valuations not inexpensive; but improved medium-term outlook Eicher Motors (EML; CMP: Rs 3144.9; M Cap: Rs 86,310 crore) made a strong start to fiscal FY23 with the highest ever revenue and operating profit for Royal Enfield (RE), driven by a strong demand and new products. The outlook for the company is positive on the back of pent-up demand for bikes, preference for premium bikes, a sharp momentum in export demand, significant improvement in the CV segment, and an improvement in fleet utilisation. Quarter in a nutshell (image) Key highlights Royal Enfield... … [Read more...] about Eicher Motors riding fast on strong demand, new products

Representative image Alcoa Corporation, the largest aluminium producer in the US, triggered concerns after failing to specify demand growth for the year and citing near-term uncertainties while reporting its second-quarter earnings. This may signal concerns for Indian aluminium manufacturers whose financials are sensitive to base metal prices. Alcoa said the 2022 market is expected to be in deficit and demand for aluminium is likely to be positive year on year. The company did not mention a growth rate for demand, which the street had expected because it typically announces it during the quarterly results. Alcoa said in a presentation to investors that uncertainties include the impacts of China’s stimulus programme, disruption in exports from Russia, near-term economic growth concerns, and the threat of further curtailment in production given high global energy prices. Alcoa’s net income increased 17.1 percent sequentially and 77.7 percent year-on-year to $549 million … [Read more...] about Alcoa cites near-term uncertainties, signalling caution for global peers

PRO Only Highlights - Quarterly performance largely backed by improved realisations - Medium-term triggers China plus and protectionist measures for tyre industry - Valuations not inexpensive; but improved medium-term outlook Zydus Lifesciences: (CMP: Rs 365, Market Cap: Rs 37,321 crore) has posted a sequential improvement in quarterly performance, led by the US, EM (emerging markets), and the consumer wellness segment though it was offset by the softness in the domestic formulation business. The domestic formulation business (29 percent of sales) declined by 3.3 percent sequentially. On a year-on-year (YoY) basis, the decline was 17 percent on a high base of COVID-related sales (Remdesivir etc) in the previous period. Ex-COVID, the... … [Read more...] about Zydus Lifesciences: Nephrology, biosimilar scope takes focus