25.6 C
Ho Chi Minh City
Tuesday, June 25, 2024

MCM shares to move to HOSE

The Saigon Times

Must read

HCMC – Seed Moc Chau Dairy Cattle Corporation JSC will stop trading its MCM shares on the Unlisted Public Company Market, or UPCoM, for listing on the Hochiminh Stock Exchange (HOSE).

On May 24, HOSE approved the listing of over 110 million MCM shares of Seed Moc Chau Dairy Cattle Corporation JSC.

Moc Chau Dairy Cattle Corporation, established in 1958 as Moc Chau Military Farm, was Vietnam’s first dairy producer. The company operates on the Moc Chau plateau in Son La Province, focusing on dairy cow breeding, dairy product production, and animal feed processing. MCM became a joint stock company in 2005 and was listed on UPCoM in 2020.

In the first quarter of this year, the firm reported revenue of nearly VND625.4 billion, down by 14.8% against the same period last year. Its profit after tax in the quarter is estimated at around VND50 billion, dropping by 50.8% year-on-year, while its profit margin shrank from 32.3% to 28.2%.

In 2024, the firm looks to book revenue of VND3.37 trillion, up by 7.4% over 2023, and net income of VND331.7 billion.

Closing the trading session today, May 27, MCM surged by 12.05% to VND43,700 per share.

With 233 winners and 198 losers, the VN-Index of the HOSE rose 5.75 points, or 0.46%, to 1,267.68 points on Monday, even as trading volume dropped sharply.

The southern exchange saw a trading volume of over 726.7 million shares valued at VND17.58 trillion, down by 46.96% in volume and 50.51% in value from the previous session. Block deals contributed 128 million shares worth VND2.74 trillion to the overall value.

Energy stocks stole the limelight today, with POW leading the sector. POW surged to the ceiling price of VND12,100, with trading volume reaching nearly 41.24 million shares. It was the most actively traded stock on the market today.

Other energy stocks also performed well. PGV hit the ceiling price, TV2 rose by 5.5%, PPC increased by 4.3%, NT2 gained by 2.7%, and PC1 and VNE both advanced by 2.1%.

Many stocks in the insurance sector also made gains. BVH rose by 4% to VND46,400, with over 2.54 million shares traded. BMI increased by 4.23%, BIC by 1.52%, MIG by 2.42%, and both PVI and VNR rose by around 2.5%.

The real estate and securities sectors recorded marginal gains of around 0.2%. However, the retail, household goods manufacturing, auxiliary production, and banking sectors saw minor declines of under 0.5%.

Mid and small-cap stocks attracted funds. EIB jumped by 5% to VND18,800 with over 23.3 million shares traded. Other active stocks were EVF, GEX, and TCB with gains of between 4.1% and 5.2% and matching volumes between 12.9 million and 17.1 million shares.

On the Hanoi Stock Exchange, the HNX-Index increased 1.11 points, or 0.46%, to 242.83 points, with 96 gainers and 68 decliners.

Trading volume reached 64.84 million shares valued at VND1.24 trillion, down by 55.72% in volume and 59.25% in value from the session earlier.

More articles

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Latest articles