Report
Alexey Kirichok ...
  • Anastasia Khakhaeva
  • Andrey Kuznetsov
  • Cole Akeson
  • Fedor Kornachev
  • Irina Lapshina
  • Research Team
  • Svetlana Sukhanova
  • Vladimir Lezhnev

CIS Market Daily - March 24, 2021

MARKET COMMENT - RECOVERY FEARS HITTING STOCKS; RUSSIA UNDERPERFORMING ON LOW VOLUMESGlobal markets were weak on the back of fears that the recovery from Covid-19 has been slower and weaker than hoped, the MSCI ACWI falling 0.8%. Russia was among the weakest performers, the RTS declining 2.2% to 1,436 on a mix of oil and political concerns. Global and Russia-specific indicators continue to lean weak this morning.STORIES> HeadHunter: Market share gains to HOLD> En+: Rusal upgrade lifts En+ valuation; no upside in power segment> Etalon Group 2H20 IFRS: Almost at the 2024 gross margin target> LSR Group 2020 IFRS conference call: No clarity on dividends yet> Globaltrans 2H20 IFRS preview: Awaiting dividend guidance> Government discussing options to further support Aeroflot
Underlyings
Aeroflot Russian Airlines

PJSC Aeroflot Russian Airlines is an international air transport company which is engaged in operations in Russia. The principal activity of Co. is the provision of passenger and cargo air transportation services both domestically and internationally and other aviation services from its base at Moscow Sheremetevo Airport. Co. and its subsidiaries also includes activities comprising airline catering, the operation of a hotel and insurance services. Associated undertakings mainly comprise hotel and duty-free retail businesses. The principal business segments are airline operations, airline catering, hotel operations and other.

En+ Group International Public Joint-Stock Company

Etalon Group (GDR)

Etalon Group is a real estate development and construction company. Co.'s principal activity is residential development in Saint-Petersburg metropolitan area and Moscow metropolitan area, the Russian Federation. Co. has three reportable segments: Residential Development, which includes construction of residential real estate including flats, built-in premises and parking places; Constructions Services, which includes construction services for third parties and for internal purpose; and Other Operations, which include selling of construction materials, construction of stand-alone premises for commercial use and various services related to sale and servicing of premises.

Globaltrans Investment Plc Sponsored GDR RegS

Globaltrans Investment is a rail transportation company in the Russian Federation. Co. is engaged in providing a wide range of railroad freight transport and logistics services. Co. provides rail freight transport and logistics services, as well as certain ancillary services to industrial customers and medium-size corporate customers in Russia and to destinations within Russia and to Ukraine. Co.'s regional network encompasses 10 branch offices. Co. is a private participant in the transportation of scrap and ferrous metals and it has market positions in the transportation of construction materials and ores.

LSR Group

Group LSR PJSC is involved real estate development in Saint Petersburg, Munich, Yekaterinburg and Moscow, prefabricated panel construction in Saint Petersburg, Moscow and Yekaterinburg, commercial real estate development in Saint Petersburg and Moscow and Yekaterinburg, the production of building materials at plants located in Russia and Ukraine, the extraction and processing of aggregates in Leningrad region, and the provision of construction services. These products and services are sold mainly in Russia. As of Dec 31 2015, Co. had five reportable segments: LSR.Building Materials; LSR. Construction; LSR.Project management; LSR.Cranes; and LSR.Real Estate.

LSR Group (GDR)

Provider
Sberbank
Sberbank

​Sberbank CIB Investment Research is a research firm offering equity, fixed income, economics, and strategy research. It covers analysis on all aspects of Russia’s capital markets, issues and industries. The firm analyzes trends in Russia and combines local knowledge with a global perspective. It processes macroeconomic data, market and company-specific news, stock quotes and other information for providing research reports. The firm provides details and latest prices on the most traded names and most traded paper on all segments Russian market. In strategy research, it provides thematic research, tips and descriptions of the methodology used to evaluate companies.

Analysts
Alexey Kirichok

Anastasia Khakhaeva

Andrey Kuznetsov

Cole Akeson

Fedor Kornachev

Irina Lapshina

Research Team

Svetlana Sukhanova

Vladimir Lezhnev

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