Foreign investors strongly gathered GEX shares with a net buying volume of 7.8 million units, the largest in a single session since GELEX was listed on the stock exchange.
The stock market at the weekend session unexpectedly witnessed particularly exciting trading on GELEX Group's GEX shares. The trading volume was up to 72 million units, a record high in the listing history of this stock. The corresponding transaction value reached nearly 1,800 billion VND, the largest on the stock exchange session on March 22.
Foreign investors also actively traded on this stock with a net purchase of nearly 7.8 million units. This is the largest net buying volume of foreign investors in a session on GEX since this stock was listed on the stock exchange. The net purchase value corresponded to 193 billion VND, making GEX the stock that was most strongly collected by foreign investors in the market on March 22.
Money pouring in "massively" pushed GEX up sharply by 6.4% on March 22, thereby climbing to 24,950 VND/share, the highest in 6 months since mid-September last year. Market capitalization corresponds to more than 21,000 billion VND, double that of a year ago.
GELEX is one of the leading multi-industry private corporations in Vietnam with key fields such as electrical equipment, construction materials, industrial parks, etc. The Group currently has 2 direct subsidiaries: Infrastructure GELEX and GELEX Electric (GEE) and dozens of member companies. In particular, Viglacera (VGC) and GEE have major contributions to the group's business results.
In 2024, GELEX said it will continue to restructure its existing investment portfolio, focusing resources on potential industries. The Group is promoting its cooperation strategy with international partners in current business fields, including industrial parks, real estate, renewable energy, electrical equipment, as well as new business fields ( such as partnerships with Fraser and Sembcorp) are the foundation of this strategy.
However, GELEX assesses that the macroeconomic context in 2023 is expected to recover but still has many potential difficulties. On that basis, the group has built a plan with the target of consolidated net revenue of 32,303 billion VND and consolidated pre-tax profit of 1,921 billion VND, an increase of 7.7% and 37.5% respectively compared to implementation. 2023.
In a recent report, SSI Research expects that GELEX's construction materials and electrical equipment segment profits will recover from the low level of 2023, while the industrial park segment is likely to decelerate compared to the high base established. in 2023. The analysis department estimates that GELEX can record a maximum abnormal profit of about VND 1,200 billion in case of successful divestment from energy projects.
