Electricity stocks increase rapidly, electromechanical enterprises 'pack up' and leave the stock exchange

Ho Chi Minh City Stock Exchange has just announced the delisting of shares of Thu Duc Electromechanical Corporation (EMC).

Accordingly, nearly 15.3 million EMC shares will be officially delisted from July 14, as the listing organization revokes its public company status. The value of delisted securities (at par value) is nearly VND153 billion. EMC's last trading day on the HOSE is July 13.

On the market closing session on May 14, EMC shares were priced at VND 9,770/share.

Electromechanical enterprises are about to leave the stock exchange. (Photo: EMC)

Thu Duc Electromechanical Company was formerly the Electromechanical Repair Factory, a state-owned enterprise established in 1976. In 2008, the company was equitized. The company's main field of activity is the manufacturing of transformers, electrical equipment,...

At the end of the first quarter of 2023, Thu Duc Electromechanical recorded revenue of VND 69.67 billion, down 62.98% over the same period last year. Profit after tax reached VND 324.8 million, down 48.61% over the same period last year.

On the stock market, electricity stocks increased sharply due to expectations of benefits from the 8th Electricity Plan and the power shortage in the North in recent weeks.

Some codes have significant increases such as PC1 (PC1 Group Corporation), HDG (Ha Do Group Corporation), BCG (Bamboo Capital Corporation), QTP (Quang Ninh Thermal Power Corporation), PPC (Pha Lai Thermal Power), HND (Hai Phong Thermal Power),...

For example, at the close of June 14, PC1 shares reached VND28,100/share (up 30% compared to the beginning of the year), PPC increased to VND16,800/share (up 30% compared to the beginning of the year).

The electrical equipment industry also has some codes that have increased significantly such as GEX (GELEX Group Corporation), REE (REE Refrigeration Electrical Engineering Corporation),...

Business News

The stock market has a number of other important events of listed companies.

* BID : BIDV Bank approved the plan to issue individual bonds in phase 1. The total value at par value is 8,100 billion VND. The par value of each bond is 100 million VND, with a term of 5 years or more. Implementation period is from June 2023 to the end of the third quarter of 2023.

* MWG : Mobile World Investment Corporation announced its registration to buy back more than 450,000 treasury shares for the purpose of recovering shares issued under the employee stock option program (ESOP) of retired employees. The expected transaction time is June - July 2023.

* DVP : Dinh Vu Port Investment and Development Joint Stock Company approved the second dividend payment in 2022 in cash. Dividend rate is 50%, 1 share receives 5,000 VND, payment date is July 2023.

* NTC : Nam Tan Uyen Industrial Park JSC sets a target for 2023 with a plan of after-tax profit of more than 284 billion VND, an increase of 11% compared to 2022.

* TN1 : TNS Holdings Trading and Service Joint Stock Company approved the issuance of more than 6.47 million shares to pay 2022 dividends at a rate of 15%. Expected implementation time in the third quarter of 2023.

* IJC : Technical Infrastructure Development JSC approved the payment of 2022 cash dividends at a rate of 14%. The last registration date to close the list of shareholders receiving dividends is June 30 and payment starts from October 6.

Transaction information

* DBT : Ben Tre Pharmaceutical Joint Stock Company sells more than 756,000 shares of Codupha Central Pharmaceutical Joint Stock Company. The implementation period is from June 13 to July 13, by agreement and order matching.

* SJ1 : Mr. Tu Thanh Phung, Chairman of the Board of Directors of Hung Hau Agriculture Joint Stock Company, registered to buy 100,000 shares from June 15 to July 14, by negotiation and order matching.

* NVL : Novagroup JSC, an organization related to Mr. Bui Thanh Nhon, Chairman of the Board of Directors of Novaland Real Estate and Investment Group JSC, continues to register to sell 136.3 million NVL shares. The transaction is expected to take place from June 16 to July 14, by order matching and/or negotiation.

VN-Index

At the end of the session on June 14, VN-Index decreased by 5.04 points (-0.45%), down to 1,117.42 points. Total trading volume reached 928.6 million units, worth VND17,130.7 billion.

HNX-Index decreased 1.33 points (-0.58%) to 228.91 points. Total trading volume reached 127.3 million units, worth VND2,018.9 billion.

UPCoM-Index decreased 0.18 points (-0.22%) to 84.82 points. Total trading volume reached 84.8 million units, worth VND900.6 billion.

According to SHS Securities, after two sessions of strong growth and surpassing the 1,120-point mark, the VN-Index has adjusted again when selling pressure increased sharply at the end of the session.

The short-term trend of VN-Index remains positive with accumulation bases continuously forming on the recovery wave. The target of the index after the correction will still be around 1,150 points.

The medium and long-term trend of the market is also maintained when the index accumulates in the wide area of 1,000-1,150 points.

The shares that were once manipulated by Mr. Nhan 'Louis' are about to be delisted. Once a "storm" on the stock market, more than 57.6 million BII shares will be delisted from May 18.

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