BCM was the only large-cap stock to increase by the full range in the session on May 20, closing at 62,900 VND, the highest price in nearly 2 months.
Shares of the Investment and Industrial Development Corporation (Becamex, stock code: BCM) jumped sharply at the opening of the first trading session of the week, reaching VND60,600. Demand pushed the price up continuously, reaching the ceiling of VND62,900 in the middle of the morning session and lasting until the close. Shares of the industrial park real estate "tycoon" in Binh Duong ended the session with no sellers, while the remaining buy volume was more than 575,000 shares.
This is the second consecutive increase of Becamex after the decision to approve the State capital holding ratio at this enterprise to decrease from 95.44% of charter capital to holding over 65% of charter capital until the end of 2025. Thanks to that, this stock topped the list of codes with the most positive impact on VN-Index, helping the index approach the 1,280 point mark.
Becamex's liquidity also exploded when more than 2.04 million shares were matched in the first session of the week, 5 times higher than the previous session and the highest level in the past 2 months. The trading value of this stock reached 126 billion VND, an increase of more than 100 billion VND compared to the last trading session of the week. Becamex's market capitalization reached more than 65,100 billion VND after this increase.
Becamex's current price range is still relatively far from the projections of some securities companies. Specifically, in a report published at the end of March, the MBS Research analysis team recommended a target price of VND78,000 for BCM. This projection is based on a forecast of net profit this year reaching VND1,198 billion, down half compared to last year, but 2025 profit could recover strongly by 68% to VND2,016 billion.
According to MBS Research, the prospect of Becamex shares comes from the industrial park real estate industry, which is improving as FDI is more actively attracted thanks to Vietnam's increased cooperation with the US, Japan, and South Korea, plus the investment in large industrial park projects is being boosted.
According to the consolidated financial report for the first quarter, Becamex recorded revenue of VND812 billion, up slightly from nearly VND792 billion in the same period. More than half of the company's revenue comes from real estate trading, while a minority comes from selling goods and providing services. After deducting expenses, after-tax profit reached VND119 billion, up 60% over the same period last year.
Total assets as of the end of the first quarter of 2024 reached VND 54,069 billion, an increase of VND 645 billion compared to the beginning of the year. Inventories account for a large proportion of the asset structure at 38%, equivalent to VND 20,348 billion. The company currently has more than VND 34,543 billion in liabilities, an increase of nearly VND 600 billion compared to the beginning of the year.
According to the newly released annual report, the parent company's business plan this year is to increase revenue by 4% to VND7,569 billion and profit equivalent to VND1,666 billion in 2023.
Source: https://baodautu.vn/co-phieu-becamex-day-song-d215637.html
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