Following the high-speed rail, two stocks on the stock exchange suddenly increased vertically.

At the Government Standing Committee Conference with many leading enterprises discussing solutions to contribute to the country's socio-economic development held last weekend, there were many specific opinions and recommendations from enterprises related to the North-South high-speed railway construction project after the 10th Conference, the Central Executive Committee agreed on the investment policy for this project and determined that this is a political task and prioritized investment resources for early implementation.

The story of the North-South high-speed railway super project is heating up, railway stocks on the stock exchange are also attracting the attention of investors. Right from the beginning of the trading session on September 23, HRT shares of Hanoi Railway Transport Joint Stock Company and SRT shares of Saigon Railway Joint Stock Company both quickly hit the ceiling and maintained a "no sell side" status until the end of the session.

HRT Stock. Source: Fireant

Due to trading on the UpCoM floor, both of these stocks have a ceiling increase of up to 15%. Accordingly, HRT increased by VND1,700, equivalent to 14.66% to VND13,300/share; SRT increased by VND1,300, equivalent to 14.44% to VND10,300/share.

The strong breakout session officially ended the correction period that lasted from the peak in mid-July of these two stocks.

Previously, HRT and SRT both had a hot growth period from late June to mid-July. Although they have not been able to return to their historical peak, these two stocks have both increased by tens of percent since the beginning of the year.

Both of these enterprises are controlled by Vietnam Railways Corporation .

SRT Stock. Source: Fireant

Regarding business situation, Saigon Railway Transport's second quarter 2024 financial report recorded revenue of approximately VND 526 billion, an increase of nearly 24% over the same period last year, profit after tax reached only VND 4.9 billion, a decrease of more than 56% compared to the same period in 2023.

In the explanation sent to the State Securities Commission, the company's board of directors said the reason was that total costs in the second quarter increased sharply by nearly 26%, mainly due to increased raw material prices, not to mention additional costs incurred to serve customers due to landslides and increased railway transportation operating fees...

Similarly, Hanoi Railway Transport's second quarter revenue also increased by 24%, reaching VND778 billion, but after-tax profit was only VND6 billion, equal to 1/4 of the same period last year due to a sharp increase in all types of business expenses.

Returning to the general market on September 23, the first trading session of the week was quite gloomy. Demand was cautious and selling was not too overwhelming, causing the main index to "stumble" around the reference level throughout the trading session. At the end of the session, VN-Index decreased slightly by 3.56 points to 1,268.48 points (-0.28%).

However, the positive point is that the group of foreign investors net bought a total of 181 billion VND in the whole market, focusing on MWG codes of Mobile World and FUEVFVND fund certificates which were net bought the most with the same value of 69 billion VND each. Followed by HCM 67 billion VND, NAB 48 billion VND and VCB 39 billion VND.

Source: https://nld.com.vn/an-theo-duong-sat-cao-toc-hai-co-phieu-tren-san-bat-ngo-tang-dung-dung-196240923154410188.htm