Vingroup subsidiary's stock skyrocketed 60% after 1 week

Selling pressure increased sharply towards the end of today's session (May 17), with red covering many sectors. Going against the market trend, real estate stocks traded more positively. Vingroup 's subsidiary stocks increased in price by more than 60% in just one week.

After 2/3 of the trading time was flat, towards the end of the session, when selling pressure in the VN30 group increased, VN-Index lost its green color. In the VN30 basket, 23 stocks decreased in price, completely overwhelming the 4 stocks that increased. The most negative impact on the index was on banking stocks, led by VPB, which closed down 2% to VND19,200/share. CTG, TCB, MBB followed suit, further expanding the market's decline.

NVL fell the most in the VN30 group, “evaporating” 2.6% to 13,300 VND/share. The VN30 basket also had SSI, TPB, VPB falling over 2%. The remaining nearly 20 VN30 stocks fell over 1%.

Red dominated the market, with construction, materials, oil and gas, chemicals, retail, etc. all falling. Meanwhile, the real estate group was more positive than the general market.

VHM is the main support for the market with an increase of 2.3% to 53,400 VND/share. VIC also increased slightly by 0.6% on the day the company held its shareholders' meeting. TCH, BCM... also increased in price. However, the highlight in the real estate group is still small and medium stocks. Speculative cash flow still favors this group, LDG, DXS, QCG hit the ceiling.

Vingroup's subsidiary, Vietnam Exhibition Fair Center Joint Stock Company - VEFAC (VEF), has just announced a plan to increase its capital to over VND10,000 billion. VEF shares have hit the ceiling and this is also the third consecutive ceiling increase. In just one week, VEF's price has increased by 62%.

Vingroup subsidiary's stock skyrocketed 60% after 1 week - 1 — After just 1 week, VEF price increased by 62%, liquidity also increased gradually.

Specifically, the documents of VEF's 2023 shareholders' meeting said that the enterprise plans to submit to shareholders a plan to issue shares to increase charter capital from VND 1,666 billion to VND 10,196 billion.

The amount of money mobilized is expected to reach 8,529 billion VND, which VEF will use to implement projects: investing in the construction of new urban areas in Xuan Canh, Dong Hoi, Mai Lam communes, Dong Anh district, Hanoi (6,976 billion VND) and the national exhibition center project (1,467 billion VND).

Another stock that is also in a series of strong price increases is DDC of Dong Duong Import Export Industrial Investment Joint Stock Company. Having just ended a series of 19 consecutive floor-price sessions, on May 10, DDG started to increase to the ceiling price. Today is the 6th consecutive ceiling-price session of this stock, and according to regulations, DDG will have to explain the current price fluctuations. Currently, DDG is at 10,300 VND/share.

At the end of the trading session, VN-Index decreased by 5.47 points (0.51%) to 1,060.44 points. HNX-Index decreased by 1.76 points (0.82%) to 212.86 points. UPCoM-Index decreased by 0.09 points (0.11%) to 80.57 points.

Liquidity increased along with stronger selling pressure towards the end of the session, the matched value on the HoSE floor was over VND12,200 billion. Foreign investors turned to net buying, thanks to the sudden transaction in HPG. HPG was net bought up to VND215 billion. Overall, foreign investors net bought over VND93 billion.

Ho Chi Minh City Stock Exchange (HoSE) has just announced the decision to transfer the shares of Apax Holdings (IBC), Hai Phat Investment (HPX), Tri Viet Securities (TVB), An Giang Import-Export (AGM), Tien Bo Group (TTB), Hoa Binh Construction (HBC) from control to restricted trading from May 23, 2023.
The reason is that the above companies are 45 days late in submitting their audited financial statements for 2022 compared to the prescribed deadline. Thus, from May 23, the shares of IBC, HPX, TVB, AGM, TTB, and HBC can only be traded in the afternoon session.

(Source: Tien Phong)

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