Weekly | Why Sri Trang-Agro Lead the Market this Week?
As of the close on Friday, $Straits Times Index(STI.SI)$ closed at 3,172.96 points, up 0.82% points last week.
During the last 5 trading days, $Sri Trang Agro(NC2.SI)$, $SINGTEL 10(Z77.SI)$, $Singtel(Z74.SI)$, $Raffles Medical(BSL.SI)$ and $ComfortDelGro(C52.SI)$ are the top 5 weekly gainers, up 4.70%, 4.64%, 4.20%, 2.97% and 2.96% respectively.
$Emperador Inc.(EMI.SI)$, $YZJ Shipbldg SGD(BS6.SI)$, $Olam Group(VC2.SI)$, $Shangri-La HKD(S07.SI)$ and $Man Oriental USD(M04.SI)$ are top 5 decliners of SGX stocks which market capital above S$1 Bln.
Below are key analyses of the TOP 5 gainers:
1. $Sri Trang Agro(NC2.SI)$
A company director forecasted that rubber prices would continue to rise this year, which is expected to lead to significant profit margins.
Additionally, the company is positioning itself for a new mega trend of traceability and sustainability, which is increasingly demanded by tire maker companies. This strategic move could secure sales volume and potentially allow for premium pricing in the future.
Moreover, earnings for Sri Trang-Agro are forecasted to grow significantly, which may also contribute to investor optimism and the stock’s performance.
2. $SINGTEL 10(Z77.SI)$
New Share Purchase Agreements: Two of Singtel’s subsidiaries have entered into new share offers and acquisition deals.
Subsidiary Growth: On Monday, Globe Telecom, a principal subsidiary of Singtel, announced a stock rights offer to raise funds for network expansion and debt repayment.
Stake Increase in Intouch Holdings: Singtel Global Investment is raising its stake in Thai telco Intouch Holdings, which will also increase its economic interest in Advanced Info Services (AIS), Thailand’s largest mobile operator.
3. $Singtel(Z74.SI)$
New Share Purchase Agreements: Two of Singtel’s subsidiaries have entered into new share offers and acquisition deals.
Subsidiary Growth: On Monday, Globe Telecom, a principal subsidiary of Singtel, announced a stock rights offer to raise funds for network expansion and debt repayment.
Stake Increase in Intouch Holdings: Singtel Global Investment is raising its stake in Thai telco Intouch Holdings, which will also increase its economic interest in Advanced Info Services (AIS), Thailand’s largest mobile operator.
4. $Raffles Medical(BSL.SI)$
Earnings Growth: The company has reported a year-on-year earnings expansion, which may have positively impacted investor sentiment.
Operational Efficiency: Improved cost control and efficient deployment of manpower have led to a significant increase in profit after tax (PAT) compared to the previous year.
Strategic Developments: The company may have made strategic moves or announcements that could have been well-received by investors.
5. $ComfortDelGro(C52.SI)$
Financial Performance: The company reported upbeat results for 2023, with a net profit of S$180.5 million, marking a 4.3% increase from the previous year. Additionally, revenue grew by 2.6% to S$3.88 billion.
Operational Improvements: There have been improvements in operational efficiency and sustained transport demand, which likely contributed to the positive financial results.
Strategic Moves: ComfortDelGro has been involved in strategic initiatives, such as winning a significant rail franchise contract in Auckland, New Zealand, through its joint venture Auckland One Rail (AOR).
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