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Indian steel bulls about to hit speed bump! Analysts say they are in bubble zone SECTIONS Share Synopsis JSW Steel and Tata Steel are currently the costliest steel stocks in the world when adjusted for installed capacity. The high prices of Tata Steel and JSW Steel are not the eye-brow raising part. Related NSE Explore Now MUMBAI: A gravity-defying rally in Indian steel stocks is drawing murmurs on Dalal Street, that the space may be entering bubble zone. Brokerage firm CGS-CIMB on Friday termed the rally as ‘irrational enthusiasm’, as it thought “unlike the post-Lehman crisis world, there is nothing structural about this rally.” ....
PETALING JAYA: Unperturbed by consolidation within the industry, Maxis Bhd says it will continue to look at inorganic expansion, especially in the enterprise segment which is key to its convergence strategy. The mobile telecommunications services provider reckons while the proposed merger of its peers, namely Digi.com Bhd and Celcom Axiata Bhd, could affect its network standing and commercial execution, its overall convergence strategy, which has already factored in an industry consolidation, remains intact. In a recent conference call with analysts, Maxis’ management said the group remained confident that it could maintain its competitive edge as the leading convergence player in the market. ....
(PetGas) is emerging as a potential environmental, social and governance (ESG) rotation play, according to CGS-CIMB Research. This comes as PetGas is poised to benefit from potentially higher natural gas usage as more coal-fired power plants retire from the grid system and the ESG trend gains traction. “Management does not rule out the possibility of supplying natural gas to gas-fired power plants and new industrial parks in the medium term, ” CGS-CIMB Research said. The brokerage, which recently hosted PetGas at its annual Malaysia Virtual Corporate Day, said the company could stand out as a good candidate for ESG rotation play, given that it is ranked among the top 25% by ESG ratings among public listed companies in FBM Emas that have been assessed by FTSE Russell as of Dec 2020. ....
is set to benefit from an increase in average selling prices (ASPs) over the course of its current financial year, in view of the global glove shortage. CGS-CIMB said in a report the company expected its glove ASPs to rise by 50% quarter-on-quarter in the third quarter of its current financial year ending March 2021, as well as a 40% quarter-on-quarter increase in the fourth quarter. “Hartalega is also of the view that ASPs could still increase from the first quarter of 2022, given the current severe shortage in global glove supply. “In our view, Hartalega’s ASPs will still lag behind its peers in the second quarter of 2022.” ....
Optimistic view: Airport operator MAHB’s new operating agreement with the government will pave the way for its stock to be rerated, says CGS-CIMB. PETALING JAYA: The new operating agreement (OA) between Malaysian Airports Holdings Bhd (MAHB) and the government could be an impetus for a re-rating catalyst for the airport operator. The agreement is yet to be signed, but CGS-CIMB in a report said it will pave the way for the stock to be rerated. It believes the new OA will be investor-friendly, and create the sustainable long-term development of MAHB, which has been hit by the Covid-19 pandemic in terms of passenger traffic growth both in Malaysia and Turkey. ....