Sasol is one of the most followed shares on the JSE - and any story about the energy and chemicals company is guaranteed to attract a wide readership on InceConnect too. It's been through a very tough couple of years and many investors watched in dismay as its shares tumbled almost as low as R20 last March. Of course, those who bought at the bottom have done very well from its recovery since then.

The company's shares rallied close to 9% last Friday after it released a trading update that indicated improved circumstances. However, Ingham Analytics is not convinced and Sasol is the topic of its latest note, "All that glitters". More details down below.

Another company that did very well after releasing a trading statement was Motus, with its shares continuing their climb yesterday. While shares of Ascendis initially reacted well to a market update, they ended flat - possibly over concern that it may have to resort to a big rights issue or bookbuild to recapitalise the business and reduce debt.

More on those stories to follow, along with updates from Vodacom and Ascendis and the JSE's public censure of Rebosis Property Fund over its 2019 accounts.

Finally, Orion Minerals soared after it said it had secured an option over the old Okiep Copper Company in the Northern Cape, which would fit very well with its other brownfield projects in the province.

I hope you have a good day.

Stephen Gunnion

Managing Editor, InceConnect

The latest from Ingham Analytics

Sasol is always a topical subject and they have just issued an updated note entitled "All that glitters?" following on from the recent trading statement. They say that the Sasol trading statement for the six months ended 31 December 2020 seems quite good at first glance but less so in reality. The possibility of a $2 billion rights issue remains a sword of Damocles for the valuation. Also topical is "Elevator to the stratosphere?" at this time of crazy US markets.