HCMC – GELEX Group JSC’s (HOSE: GEX) brand value jumped by 55% to US$148.4 million in 2024 from US$95.6 million last year, Brand Finance said on October 10.
Gelex is now among the top 10 companies in Vietnam with the largest brand value increase, alongside firms such as VinFast, Vinschool, and FPT, according to the report.
The company’s Brand Strength Index (BSI) this year reached 54.6, up from 47.1 in 2023, with its BSI rating improving to A from last year’s BBB. The index evaluates brand performance based on factors like brand awareness, customer loyalty, and market share.
Alex Haigh, managing director at Brand Finance in the Asia-Pacific region, said Gelex’s 55% surge was driven by strong revenue growth, boosting the company’s position in the electrical equipment industry. Gelex now secures the 47th spot in the list of the 100 most valuable companies in Vietnam.
The assessment by Brand Finance involved input from over 100,000 individuals globally, including 25,000 from the Asia-Pacific region. Brand value is determined by analyzing market perception and financial data, following international standards.
Closing the trading session today, October 15, GEX extended its losing streak to the third consecutive session with a 0.97% decline to VND20,400 per share, with a matching volume of over 5.6 million shares.
The benchmark VN-Index closed down by 0.41% on Tuesday, losing 5.26 points to 1,281.08 points. Blue-chip stocks weighed heavily on the index.
The Hochiminh Stock Exchange saw 105 winners and 280 losers. Trading volume and value rose by 6% and 8%, respectively, over the previous session, with 712 million shares worth VND16.6 trillion changing hands. Block deals accounted for 37 million shares valued at VND1.06 trillion.
Among the large-cap stocks, PLX dropped by 3.6% to VND42,850. Other major stocks, including VIC, VJC, SSI, GVR, VHM, and POW, posted losses at between 1.1% and 1.8%.
On the upside, MWG and BID gained 1.2%, while smaller gains were recorded for CTG, HPG, MSN, VIB, and VPB. VPB took the lead by liquidity with 44.7 million shares traded.
In the mid- and small-cap sectors, real estate and construction stocks such as QCG, VPH, and HAR surged to their ceiling prices.
Meanwhile, several stocks saw heavy selling. HHS fell by 6.9% to VND6,940, while SMC dropped by 6% to VND6,600. DIG was the second-most traded stock with 25 million shares, closing down by 4.2%.
Decliners nearly doubled advancers on the Hanoi Stock Exchange at 93 to 48, sending the HNX-Index down 1.76 points, or 0.76%, to 228.95 points.
Trading volume on the northern exchange reached 50.9 million shares valued at VND971.4 billion.
