Coal, Banking and Tech: 3 JSE Shares Making Headlines

Here are three South African companies with fresh news behind them. We've kept it simple: what's happening, what could help the share, and what to keep in mind.

Thungela Resources (TGA): coal is having a moment

Thungela is a local coal exporter, and the last few months have been good to it. Newcastle thermal coal was about $146 a tonne on 30 September, near its highest level in about three months. The International Energy Agency now expects global coal demand to grow 1.2% in 2026 to a record 8.94 billion tonnes, because disrupted LNG shipments through the Strait of Hormuz have pushed up gas prices and some countries are switching from gas to coal.

The company itself looks strong. It generated R1.89 billion in free cash flow in the first half, nearly four times last year's R484 million, and it ended June with R6.1 billion in net cash. It more than doubled its dividend to R5.50 a share, and its export production increased 6% to about 8.5 million tonnes.

Worth keeping in mind: coal prices can swing quickly, and Transnet's rail performance affects how much Thungela can ship. The level in focus is R133.50, about 13.6% from the September close and near the company's net asset value of roughly R135 a share.

Investec (INL): steady, with a healthy dividend

Investec is a bank and wealth manager with big operations in South Africa and the UK. It isn't a flashy story, but it has a few things going for it. The share is trading below its book value and offers a dividend yield of about 6.5%.

The business keeps growing. Loans to customers had grown to £37 billion by August, up from £35.5bn in March, and deposits to £46bn from £44.7bn. Its local arm is doing well, with profit expected up to 6% higher in rands. The group raised its dividend 5.5% to R8.42, finished a R2.5bn share buyback, and says it will consider more buybacks or special dividends once its investment needs are covered.

Worth keeping in mind: the UK side is softer, and lower interest rates squeeze margins. The share closed at R133.05 for September. The level in focus is R147, about 10.5% above that.

Altron (AEL): a tech business that keeps growing 

Altron is a local technology group best known for Netstar, its vehicle tracking business. The part of the group that matters most is what it calls Platforms: Netstar, fintech and healthtech. Platforms revenue grew 12% to R4.42 billion last year, and nearly 90% of the group's capital spending went there. Fintech's operating profit increased 33% to R561 million, and Netstar passed R1 billion in EBITDA.

Shareholders have been rewarded along the way. Altron paid ordinary dividends of R1.20 for the year, up 33%, plus a special R1.20. An August update said operating profit was still up in the low-to-mid teens, and the group still holds net cash.

Worth keeping in mind: growth is cooling from last year's pace, the IT services side is weaker, and the share is already up about 44% over the past year. It closed at R27.37 on the last trading day of September. The level in focus is R29.30, about 7.1% above that.

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** This article was prepared by BROKSTOCK analyst Maboko Seabi