Many stocks peaked, focusing on steel group

VN-Index broke its historic peak in 2018 (1,204.33 points) after nearly 3 years and continuously went to new highs. Closing the session on April 15, the VN-Index stood at 1,247.25 points, equivalent to an increase of 3.6% compared to the old peak in 2018.

VN-Index continuously sets a new peak thanks to the huge contribution from the cash flow of “F0” investors along with expectations of economic recovery or business results of businesses after a year of going down because of Covid-19. Besides, HNX-Index has not been able to break the old peak but also got a very good increase. After just one year, the HNX-Index rose 173% to 196.12 points.

With positive movements in the past time, the market recorded many stocks surpassing historical peaks. Statistics on the two listed exchanges, on April 15, there were 40 stocks that peaked or were trading around this price area (the market price of April 15 was lower than the historic peak of less than 2%). Including shares of billion-dollar enterprises such as Vingroup, Hoa Phat, VPBank, Novaland, Eximbank, Phat Dat.

The most significant name is VIC of Vingroup (HoSE: VIC). This is an important factor in helping the VN-Index to break through as VIC is the largest stock by market capitalization in Vietnam.

VIC closed April 15 session at VND 140,900 / share, the peak in 2018 of this stock was VND 120,200 / share. VIC is having a period of strong price increase from only 104,300 VND / share (March 9) to 140,900 VND / share, equivalent to an increase of 35%.

Many stocks peaked, focusing on steel group

VIC stock price movement. Source: Fialda.

According to Bloomberg, Vingroup is considering an initial public offering (IPO) in the US, raising about $ 2 billion. VinFast hopes to have a market capitalization of at least $ 50 billion after listing. Shortly thereafter, Vingroup made it clear that the company regularly considers options to raise capital and invest in VinFast. Typically capital raising opportunities such as direct capital investment in a company, issuing new shares, merging with a special purpose acquisition (SPAC) company, or other transactions. Deployment of fundraising transactions depends on market conditions and the company’s actual capital needs.

Hoa Phat’s leading steel stock HPG (HoSE: HPG) is also trading at the highest level in history at VND 54,500 per share. HPG’s share price has been rising relentlessly over the past time thanks to the good results of production and business of this business. In the first quarter, the group produced 2 million tons of crude steel, an increase of 60% over the same period and became the largest steel producer in Vietnam, surpassing Formosa Ha Tinh Industrial Co., Ltd. with 1.62 million tons. The market share of construction steel and Hoa Phat steel pipe held the no. 1 position in Vietnam, at 33.8% and 30.19%, respectively. Ton Hoa Phat also participated in the top 5 enterprises with the largest market share with nearly 6%. What Hoa Phat achieved completely eliminated the worries about output when this unit recently deployed to build Hoa Phat Dung Quat factory in 2017.

2020 is a good year for the steel industry. In Hoa Phat alone, revenue reached 91,279 billion VND, an increase of 41% compared to 2019. Profit after tax was 13,506 billion VND, an increase of 80%.

Many stocks peaked, focusing on steel group

Price movement of HPG shares. Source: Fialda.

Not only Hoa Phat, some stocks of other steel enterprises such as HSG of Hoa Sen Group (HoSE: HSG), SMC of Investment and Trade SMC (HoSE: SMC), TLH of Tien Len Steel Group ( HoSE: TLH) or VGS of Viet Duc Steel Pipe VG PIPE (HNX: VGS) are also at or close to the historical high.

Many stocks peaked, focusing on steel group

40 stocks are trading at historic peaks.

With the stock market expected to continue to head towards new highs in the near term, investors can continue to see more stocks surpass historic peaks. According to BIDV Securities (BSC), VN-Index maintained its medium-term momentum and continued towards the area around 1,300 around the end of May. However, increased movement will be divided into small waves with short-term adjustments before continuing the upward trend.

Yuanta Vietnam Securities (YSVN) forecasts that the VN-Index can continue its mid-term uptrend and towards the region of 1,283 – 1,300 points. In which, the banking group will continue to be the group leading the main trend of the market.

Source: stockbiz.vn – Translated by fintel.vn

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