Maya Patel

Share buybacks signal positive management view for Kikkoman

Kikkoman Corporation has provided an update on its share buyback plan on January 6, 2025. Accordingly, the company has repurchased 3.9mn shares during the period October 25, 2024, to December 31, 2024, representing 0.42% for JPY6.7bn. The buyback is a part of the program to acquire up to 11mn shares or 1.15% of outstanding shares, worth JPY15bn by FY25 end.

January 17, 2025 at 05:55 am

Bharat Electronics strengthens order book through recent wins

Bharat Electronics, in a recent exchange release on January 13, 2024, announced that it has secured additional orders worth INR5.6bn, since its last disclosure on December 23, 2024. The latest order inflow, comprising a range of defence and electronics equipment, bolsters the current FY25 order book to INR103.6bn.

January 16, 2025 at 08:40 am

Tokyo Electron revises guidance aided by WFE market recovery

Tokyo Electron has revised its FY25 estimates upwards and expects to significantly outperform market growth, driven by a recovery in the Wafer Fab Equipment (WFE) market, and strong demand for AI-related devices. The company now expects FY25 net sales of JPY2,400bn, compared to previous forecasts of JPY2,300bn; operating income of JPY680bn, from JPY627bn; and net income of JPY526bn, from JPY478bn. The company announced the revision in 2QFY25 release published on November 12, 2024.

January 15, 2025 at 07:51 am

Fast Retailing’s share price slides despite solid results

Fast Retailing announced its 1QFY25 results on January 9, 2025, reporting strong increases in revenue and profit. However, the company’s shares tanked by over 6% the following day, owing to muted performance in Mainland China, Hong Kong and the Taiwan market. Nevertheless, analysts hold a favourable view of the company and expect net sales to register a CAGR of 9.2% over the period FY24-27 to reach JPY4,037.7bn.

January 14, 2025 at 07:53 am

Nitta Mold acquisition by Asahi Intecc to boost design capabilities

Asahi Intecc Co., Ltd. announced its decision to acquire all 980 shares of Nitta Mold Co., Ltd. on November 14, 2024. The acquisition would aid the parent in product design support activities, and would also support molding and assembly, thereby stabilizing the Group’s supply of products.

January 13, 2025 at 07:44 am

Surge in stock prices post first half results for Nitto Denko

Nitto Denko released results for 1HFY24 on October 28, 2024. The company’s performance overpassed estimates, as a result of which the stock price surged by 3.2% from the day’s lows to settle at JPY 2,434.5 on October 28. The stock sustained its momentum on the following day and increased further by 3%. Since the declaration of the H1 results, the stock has delivered total returns of around 11% till date, indicating bullish sentiments amongst investors.

January 10, 2025 at 07:26 am

FTSE All-World Index addition and earnings boosts Lotes Co. shares

Lotes Co was added to FTSE All-World Index on September 22, 2024. Post the inclusion, the stock has been on an uptrend, registering its all-time high of TWD2,015 on December 5, and delivering returns of over 34% till date. Price surge was also supported by positive 3QFY24 results, which witnessed a revenue enhancement of 24.9% YoY to TWD8.1bn, while EBITDA increased 27.4% YoY to TWD3.3bn, with margins rising to 40.9% despite higher R&D and SG&A expenses. Consequently, net income grew 10.2% YoY to TWD2.1bn.

January 09, 2025 at 10:32 am

Organo Corporation shares surge following positive outlook

Organo Corporation (Organo) has revised its guidance for the second time in a row for FY25 (ending March 2025). The company published the new guidance on November 1, 2024, and now expects orders of JPY170bn (up from the original guidance JPY155bn), and revenue of JPY165bn, up from the original guidance of JPY155bn and 1QFY25 guidance of JPY160bn. Investors reacted positively to the news, with the share price jumping over 14% the next day and increasing by around 28% since the announcement.

January 07, 2025 at 09:52 am

Pal Group's H1 success spurs higher full-year guidance

PAL GROUP Holdings CO., LTD. (PAL Group) published its revised guidance for FY25 (ended February 2025) on October 14. The company now estimates consolidated sales of JPY209.2bn, up from JPY203.5bn and has revised gross profit margin to 55.6% from 55.2%. Additionally, PAL Group raised its operating profit guidance to JPY22.9bn, with margins of 11.0%, up from the earlier JPY20.1bn, with a 9.9% margin.

January 03, 2025 at 07:00 am

HCL Tech: Acquisition of CTG assets expected to boost market presence

HCL Technologies Limited (HCL Tech) announced the completion of the purchase of certain assets from Hewlett Packard Enterprise's (HPE) Communications Technology Group (CTG) on December 2, 2024. The closure of the transaction, which was initiated in May 2024 with an agreement of USD225mn in an all-cash deal, strengthens HCL Tech’s leadership in the telecom services markets.

December 26, 2024 at 07:40 am

National Aluminium Company: China's policy shift boosts global aluminium prices

National Aluminium Company Ltd. (NALCO) stock moved up sharpy by 8% on 18th November 2024, in line with a similar up move of aluminium prices on the London Metal Exchange (LME). The movement was on account of news of China withdrawing its 13% export tax rebate on aluminium and copper products for its domestic manufacturers from 1st December 2024. The move is expected to reduce Chinese exports of aluminium products, thereby supporting global aluminium prices. China is a key player in the global metals market and accounts for more than half of production and consumption of Aluminium, so the change is expected to significantly impact the global aluminium market.

December 23, 2024 at 07:09 am

ZOZO, Inc. : Steady 1H performance

ZOZO, Inc. on October 31, 2024, reported 1HFY25 consolidated sales of JPY98.8bn, up 9.5% YoY, driven by enhanced user engagement and the successful execution of promotional campaigns. Operating profit reached JPY30.5bn with 5.3% YoY growth, maintaining a robust margins of 30.5%, due to effective cost management. Accordingly, net income surged by 12.2% YoY to JPY44.3bn, underscoring its consistent profitability. For FY25, management forecasts an 8.8% increase in net sales to JPY214.40bn, with a projected profit attributable to owners of JPY45.20bn, up 1.9% YoY and basic EPS is JPY152.21. Following the earnings release, Jefferies revised its target price to JPY4,840 from JPY4,000, maintaining a “Hold” recommendation.

December 19, 2024 at 11:24 am

Mahindra & Mahindra Ltd: Overall auto sales up 12%

Mahindra & Mahindra Ltd. (M&M) recently announced that its overall auto sales for the month of November 2024 increased by 12% to 79,083 vehicles, including exports. In the Utility Vehicles (SUVs) sales was up 16% YoY to 46,222 units in the domestic market and overall, 47294 vehicles, including exports. In the same month, the Group also witnessed the launch of its much-anticipated Electric Origin SUVs — the BE6e and XEV9e. On the other hand, the company’s farm equipment segment nudged ahead with a sale of 31,746 tractor units, compared to 31,069 units during November 2023.

December 18, 2024 at 09:41 am

Dr. Reddy's Laboratories Ltd: Toripalimab drug launched in India

Dr. Reddy's has announced the launch of Toripalimab in India on November 28, 2024, an immune oncology drug to treat adults with a rare and aggressive form of head and neck cancer. This makes India the third country after China and the US to get access to the next-generation PD-1 inhibitor. Toripalimab is a New Biological Entity (NBE) and is the only immune-oncology drug approved by major regulatory authorities including the USFDA, DCGI, and EMA for the treatment of recurrent or metastatic nasopharyngeal carcinoma (RM-NPC). In 2023, Dr. Reddy's secured exclusive rights from Shanghai Junshi Biosciences to develop and market toripalimab in 21 countries, with potential expansion to Australia, New Zealand, and nine more countries.

December 17, 2024 at 09:45 am

Konami continues winning streak with strong quarter performance

Konami Group Corporation (TYO:9766) reported another strong result for the 2QFY25 (ended Sep 30, 2024) on October 31, 2024, following record sales and profits in 1QFY25. Konami reported sales of JPY94bn, up 16% year-over-year (YoY), well above the consensus estimate of JPY91bn. Additionally, Konami reported EBIT margin of 26% as compared to the consensus estimate of 24%. This marks the fourth consecutive quarters in which Konami has beaten consensus estimates. These results were received well by markets, with stock prices increasing +6% post results till date and up +103% year-to-date.

December 16, 2024 at 12:02 pm

Oberoi Realty joins the MSCI to attract more investors

Oberoi Realty was included in MSCI Equity Indexes on November 25, 2024, as part of a review by Morgan Stanley Capital International (MSCI). The inclusion leads to increased trading volumes and improved liquidity, making the stock more appealing to both domestic and international investors. The stock reacted positively, rising c.12%, since the inclusion. The stock's upward movement is supported by favorable macroeconomic conditions, robust pre-sales growth, and strong demand in the luxury housing segment. Reflecting this optimism, several brokers have upgraded their ratings on the stock. Morgan Stanley, for instance, has raised its target price from Rs 1,900 to Rs 2,060. Additionally, Nomura initiated coverage on Oberoi Realty on December 4, 2024, with a Buy rating and a price target of INR 2,500, suggesting a 21% upside from the previous day's close.

December 13, 2024 at 09:50 am

Dixon Technologies (India) Limited : Partnership with Cellecor to produce efficient washing machines

Dixon Technologies (NSE:DIXON, BOM:540699) entered into a memorandum of understanding (MOU) with Cellecor Gadgets Limited to manufacture washing machines and their related components. Cellecor offers a vast range of products, including mobile phones, smart TVs, speakers, neckbands, TWS, sound bars, smartwatches, washing machines, and many more. The partnership, announced on October 28, 2024, would increase Dixon’s customer base in the high margin washing machine segment. In addition, Dixon aims to target improved efficiencies and increased competitiveness.

December 11, 2024 at 10:38 am

WiseTech Global Limited : Guidance revised down, Significant share sales by Directors

WiseTech Global (ASX: WTC) director Charles Gibbon has sold 1.5 million shares or 8.8% of his total holding in a block trade on 6th December, 2024 at $130.50 per share, netting almost AUD200mn. Gibbon owned about 5.5% of the company and has been a shareholder since 2005, joined the company’s board in 2006 and served as chair from 2006 to 2018. The move comes after the company’s co-founder and Gibbon's fellow director Maree Isaacs sold her 8.17% stake in RealWise Holdings on 1st December 2024, which owns 37.43% of WiseTech, to former CEO Richard White (already owns the other 92% in RealWise Holdings). The sale, equivalent to about 10.2 million shares, includes an initial payment of AUD285mn, with future quarterly payments based on WiseTech's volume-weighted average share price over up to seven years.

December 10, 2024 at 10:28 am

Cummins India Limited : Reiterates FY25 guidance, expects double-digit top-line growth

In the latest earnings call 2QFY25, Cummins India Limited (Cummins) reiterated its full year 2025 guidance. The company anticipates double-digit revenue growth, driven by strong domestic demand specially in power generation and industrial segment. Cummins is cautiously optimistic about demand recovery in domestic markets in the short term but were quite optimistic in the long term. Additionally, the company said they remains cautiously optimistic about the export demand recovery, due to the end market slowdown driven by economic and geopolitical events.

December 09, 2024 at 10:28 am

ADNOC Logistics & Services plc : Jiangnan shipyard delivers first new-build LNG carrier before schedule

ADNOC Logistics and Services plc (ADNOC L&S) has taken delivery of the first newbuild liquified natural gas (LNG) carrier on 25 November, 2024 from Jiangnan Shipyard in China of the six it ordered in 2022. The vessel named "Al Shelila" was delivered two months ahead of schedule and immediately commence service with a leading global energy trader. Boasting a capacity of 175,000m³, "Al Shelila" significantly surpasses the 137,000m³ capacity of ADNOC L&S’s existing LNG carriers and outfitted with advanced energy-efficient technologies that can reduce methane emissions by up to 50% compared to older-generation technology. The remaining five carriers are slated for delivery in 2025 and 2026.

December 06, 2024 at 10:09 am

Yangzijiang Shipbuilding secured contracts worth $2.63bn for 21 vessels

Yangzijiang Shipbuilding Holdings (SGX:BS6), a China-based investment holding and agency service company for shipbuilding and related activities, recently secured new shipbuilding contract worth USD2.63bn for 21 vessels. The contract includes six dual-fuel containerships with a capacity of 17,000 TEU, six methanol dual-fuel containerships with a capacity of 13,000 TEU, four medium-range oil tankers with a DWT of 39,000, two containerships with a capacity of 4,300 TEU, and three bulk carriers with a DWT of 45,000. These contracts are scheduled for delivery between 2027 and 2029. To date, the group has secured 119 shipbuilding contracts worth a total of USD14.27bn. The market reacted positively to the news, with stock price gaining around 4% on December 3rd.

December 05, 2024 at 11:20 am