Value Investing

Hindalco, NALCO, and NMDC are prominent players in India’s metals and mining sector. Hindalco excels in aluminum and copper production, NALCO is a key aluminum producer with integrated operations, while NMDC focuses on iron ore mining. Financially, Hindalco reported significant revenue and EBITDA, NALCO showed resilience despite market challenges, and NMDC benefited from strong steel demand, reflecting each company’s strategic position within their respective markets.

Strategy Journal
  • More than 47 million US households cook with gas. The republican controlled House passed the Save our Gas Stoves Act and Freedom Act last month. Should gas be used to cook ? But why is the industry fighting against stopping gas stoves ? Its seen as the first step to stop gas use
  • Shipping – delivers upto 90 % of traded goods. Efforts on to impose a levy on shipping emissions. Developing nations oppose
  • Finance –  Two year US treasury note tracks interest rate expectations. If it goes high, interest rate expectations also climb
  • There are 3 types of credit markets –  Private, Public, and hybrid. Private has been rising in recent times, but is still needs public credit to thrive
  • Fidelity has agreed to sell Worldpay to private equity GTCR for $18.5 billion. FIS had acquired it in $30 B
  • Mining:
    • Congo’s copper and cobalt capital – Kolwezi
    • Main mining operators – Glencore, Chinese CMOC, Freeport McMoran
    • Supply chain lobby – Responsible Minerals Initiative, Fair Cobalt alliance
    • Avoiding critical mineral shortages will require 330 new mines in the next 10 years, including 59 lithium
    • Exporter cartel may be formed, on the other hand there are importer cartels which no one talks about
    • Indonesia is the leading nickel producer

Source: Financial Times

Situation Report

This article presents few of the examples from audit report of accounts and records of Central Government Companies and Corporations conducted by the officers of the Comptroller and Auditor General of India. Issues in NLC, IIFCL, BHEL, ONGC, HCL, DVC, MECON, SAIL are given.