3 giants of Gia Lai mountain town: Stocks recover despite business difficulties

The stock market this morning (July 31) witnessed a strong recovery in a number of stocks, especially those that were massively sold off in previous sessions.

Quoc Cuong Gia Lai 's QCG had its third ceiling price session, with a price of VND7,740/unit, matching orders of 1.23 million shares and 1.76 million shares remaining for ceiling price purchases.

Duc Long Gia Lai's DLG increased to the ceiling price of 1,730 VND, all sell orders were absorbed with matching orders reaching 905,800 shares.

Many stocks recovered in the morning session of July 31 (Illustration photo: Dang Duc).

The company has just announced its second quarter financial report with after-tax profit reaching 9.9 billion VND, equal to 1/3 of the same period; 6-month profit of 45.4 billion VND, up from 34.5 billion VND in the first half of 2023. Accumulated loss as of July 30 of Duc Long Gia Lai is 2,664.4 billion VND.

LDG of LDG Investment Joint Stock Company increased to the ceiling price of VND2,110, with 4.73 million shares matched, with ceiling price buy orders. RDP of Rang Dong Holding increased to the ceiling price of VND2,390, with 2.81 million shares matched, with ceiling price buy orders. These codes have in common low market prices and modest liquidity.

As of yesterday, RDP had 4 consecutive floor-price sessions but the decline stopped this morning. At the current market price, RDP recorded a loss of 53.59% compared to the beginning of July.

As for LDG, this code escaped the floor yesterday but still closed down sharply by 5.71%. This morning, LDG hit the ceiling despite the company announcing its second quarter financial report showing negative revenue of more than VND19 billion and a loss of VND171 billion in the second quarter. In the first 6 months, LDG recorded negative net revenue of VND149 billion and a net loss of VND296 billion.

HAG of Hoang Anh Gia Lai increased 2.1% to 12,400 VND this morning, with 6.9 million units matched after Bau Duc's company reported a second quarter profit of 281 billion VND, 3.4 times higher than the same period last year. In the first 6 months, Hoang Anh Gia Lai increased its after-tax profit by 32%, reaching 507 billion VND.

In contrast, HAGL Agrico's HNG decreased by 2.4% to VND4,000 with 2.36 million units matched. According to the recently released financial report, the company chaired by billionaire Tran Ba Duong achieved VND79 billion in net revenue, down 48% year-on-year; after-tax loss was VND323 billion compared to a loss of VND135 billion in the same period. In the first half of the year, the company reported a loss of VND370 billion, a sharp increase compared to VND247 billion in the first half of 2023.

The general market this morning was quite positive with the leading stocks leading the way. VN-Index increased by 9.96 points, equivalent to 0.8%, to 1,255.02 points, while VN30-Index increased by 12.1 points, equivalent to 0.94%. HNX-Index increased by 0.66 points, equivalent to 0.28%; UPCoM-Index decreased slightly by 0.14 points, equivalent to 0.15%.

Low liquidity with 735.55 million shares traded on HoSE equivalent to VND7,387.89 billion and 20.62 million shares traded on HNX equivalent to VND373.43 billion. UPCoM floor has 22.48 million shares traded equivalent to VND414.03 billion.

Source: https://dantri.com.vn/kinh-doanh/3-dai-gia-pho-nui-gia-lai-co-phieu-hoi-phuc-du-kinh-doanh-lan-dan-20240731134416840.htm