Becamex shares surge

BCM was the only large-cap stock to reach its maximum allowed increase on May 20th, closing at 62,900 VND, its highest price in nearly two months.

Shares of the Industrial Investment and Development Corporation (Becamex, ticker: BCM) surged at the opening of the first trading session of the week, reaching 60,600 VND. Strong buying pressure pushed the price up continuously, hitting the ceiling of 62,900 VND in the middle of the morning session and remaining there until closing. The shares of this industrial real estate giant in Binh Duong closed the session with no sellers, while the buy order volume exceeded 575,000 shares.

This marks Becamex's second consecutive day of gains following the decision to reduce the state's ownership stake in the company from 95.44% to over 65% by the end of 2025. As a result, the stock topped the list of stocks with the most positive impact on the VN-Index, helping the index approach the 1,280-point mark.

Becamex's liquidity also surged, with over 2.04 million shares traded in the first session of the week, five times more than the previous session and the highest level in the past two months. The trading value of this stock reached VND 126 billion, an increase of over VND 100 billion compared to the last trading session of the week. Becamex's market capitalization reached over VND 65,100 billion after this surge.

Becamex's current share price is still relatively far below the projections of some securities companies. Specifically, in a report published at the end of March, MBS Research recommended a target price of VND 78,000 for BCM. This projection was based on a forecast of net profit this year reaching VND 1,198 billion, half the amount of the previous year, but with a potential strong recovery of up to 68% to VND 2,016 billion in 2025.

According to MBS Research, the outlook for Becamex shares stems from the booming industrial real estate sector, which is attracting more FDI thanks to Vietnam's increased cooperation with the US, Japan, and South Korea, coupled with accelerated investment in large industrial park projects.

According to its consolidated financial report for the first quarter, Becamex recorded revenue of VND 812 billion, a slight increase compared to nearly VND 792 billion in the same period last year. More than half of the company's revenue came from real estate business, while the minority came from the sale of goods and provision of services. After deducting expenses, after-tax profit reached VND 119 billion, a 60% increase compared to the same period last year.

Total assets as of the end of Q1/2024 reached VND 54,069 billion, an increase of VND 645 billion compared to the beginning of the year. Inventory accounted for a large proportion of the asset structure at 38%, equivalent to VND 20,348 billion. The company currently has over 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 for this year projects a 4% increase in revenue to VND 7,569 billion and a profit equivalent to VND 1,666 billion in 2023.

Source: https://baodautu.vn/co-phieu-becamex-day-song-d215637.html