Vingroup withdraws its proposal, causing THACO and Hoa Phat stocks to surge.

Cash flow surged into stocks related to THACO Group and Hoa Phat Group after news emerged that Vingroup withdrew its proposal to build a high-speed railway.

The stock market is "plunging" into red - Photo: QUANG DINH

During the morning trading session on December 26th, the stock market was a mix of red and light blue, with nearly 500 stocks declining and almost 30 hitting their lower limit.

Going against the trend, HAGL Agrico's HNG shares recorded positive performance, rising more than 5% to 6,200 VND per share.

Notably, the liquidity of this stock surged. In the morning session alone, the trading volume reached nearly 11.3 million units, almost six times higher than the average daily trading volume over the past month. By nearly 11 am, there were still almost 2 million shares waiting to be purchased.

HNG, chaired by Mr. Tran Ba ​​Duong, is a business within the ecosystem of Truong Hai Group ( THACO ).

Positive developments were also observed in HPG shares of Hoa Phat Group. By the end of the morning session, the stock had risen by more than 2.1%, to 26,800 VND per share.

Notably, HPG's liquidity saw a surge, with the trading volume reaching nearly 68.2 million units, while there were still about 30 minutes of trading before the end of the morning session. This figure is almost three times higher than the average trading volume for an entire trading session over the past month.

Furthermore, in the "buy orders" section, there are still nearly 2 million units "waiting" for order matching, indicating a significant increase in demand for HPG.

Meanwhile, four stocks belonging to Vingroup Group, namely VIC, VHM, VPL, and VRE, all fell to their lower limit. This development occurred after Vingroup Group (VIC) sent a document to the Government, officially requesting to withdraw its investment registration for the $67 billion North-South high-speed railway project.

According to the group, this is a carefully considered decision aimed at maximizing resources for key strategic infrastructure projects that Vingroup is currently tasked with implementing.

Following Vingroup's decision, Tran Ba ​​Duong's THACO is considered a strong contender for the high-speed rail project. However, THACO is not yet listed, which may partly explain the high demand for stocks related to this ecosystem, such as HNG.

Regarding THACO, the group has a charter capital of 30,389 billion VND. In terms of business performance, the company reported a net profit after tax of 3,025 billion VND in 2024, a more positive result than in 2023 (2,655 billion VND), representing a growth rate of 14%.

According to THACO's previous proposal, the total investment for the high-speed railway project is approximately 1.56 trillion VND, equivalent to 61 billion USD, not including land compensation costs incurred by the state. The company plans to use its own capital combined with other legally mobilized capital sources to implement the project.

Meanwhile, Hoa Phat is the largest steel producer in the country. On the morning of December 19th, the group held a groundbreaking ceremony for the Hoa Phat Dung Quat rail and special steel production plant project.

HPG's factory is expected to produce high-speed rail rails and structural steel by 2027, ready to supply key railway projects.

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BINH KHANH

Source: https://tuoitre.vn/vingroup-rut-de-xuat-nhom-co-phieu-thaco-hoa-phat-bung-no-20251226111623251.htm