The stock market on April 24 was still quite gloomy and decreased. Banking and real estate stocks performed quite positively after a series of good news from the Government's efforts to support the economy , including Circular 02/2023/TT-NHNN on restructuring debt repayment terms and maintaining debt groups.
At the end of the trading session on April 24, the number of bank stocks increasing was greater than the number of stocks decreasing. The real estate group also recorded many stocks increasing in price such as Vinhomes (VHM), Vincom Retail (VRE), Novaland (NVL), Phat Dat Real Estate (PDR)...
However, the VN-Index decreased by 1.55 points to 1,041.36 points, due to the price reduction of some other pillar stocks, including Vingroup (VIC), Vinamilk (VNM), Bao Viet (BVH), Masan Group (MSN), Mobile World (MWG), PV GAS (GAS)...
MSN shares of Masan Group, chaired by billionaire Nguyen Dang Quang, fell sharply, losing VND3,100 to VND73,300/share.
On the contrary, TCB shares of Techcombank, chaired by billionaire Ho Hung Anh, increased by VND800 to VND29,500/share.
On the morning of April 24, Masan Group Corporation (MSN), along with two subsidiaries, Masan Consumer (MCH) and Masan MEATLife (MML), co-organized the 2023 Annual General Meeting of Shareholders (AGM).
At the Congress, Masan set a revenue target of 31% increase to VND100,000 billion. Masan provided shareholders, partners and customers with an overview of the "Consumption - Retail - Technology" ecosystem and a strategy to increase the efficiency of the consumer value chain.
Masan Consumer aims for revenue of VND80,000-100,000 billion in the 2023-2027 period, with the domestic market accounting for 85% and foreign markets accounting for 15% through the "Go Global" strategy.
Masan Group's General Meeting of Shareholders also approved the 2023 revenue plan of VND90,000-100,000 billion, an increase of 18-31% compared to the actual figure in 2022. The planned profit is in the range of VND4,000-5,000 billion (slightly fluctuating from last year's actual figure of VND4,754 billion).
The congress approved all proposals, including two plans to issue shares and a bond plan on the international market. In total, Masan can attract 19,000 billion VND.
Despite Masan's impressive strategy, MSN shares fell sharply today. MSN fell VND3,100 to VND73,300/share, much lower than the peak of VND145,000/share (adjusted price) at the end of 2021.
Responding to the question of what to do to get the stock back to 160,000 VND, Masan CEO Danny Le said that the group will see strong revenue growth in the coming quarters. Mr. Danny Le also said that Masan is considering increasing capital and reducing debt.
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