Our latest valuation for HND in the 2021’s strategy report was VND 17,900. The remaining dividend of VND 1,425 will be paid soon as mentioned in the AGM’s proposal, offering a total return of 6%. Thus, we recommend to accumulate this stock. We will update our target price for this stock in our next report.
We expect NKG can earn the highest quarterly NPAT ever in 2Q owing to strong demand overseas, increasing hot-rolled coil (HRC) prices, and its higher inventory. We forecast that the company’s revenue and NPAT will reach VND 6,113 billion and VND 503 billion in 2Q, increasing by 164% YoY and 2,806% YoY respectively. For 2H2021, HRC price’s outlook is better than our expectations as prices for HRC delivered in 3Q are more than USD 1,000 /ton. The company’s NPAT in 3Q will be roughly VND 230 billion, significantly higher compared to previous years. Based on EPS forward in of VND 5,800, we recommend investors to Hold this stock with a target price of roughly VND 37,000/share.
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Saturday (May 8), leaders of Europe and India will meet via videoconference to discuss a potential realignment of their turbulent relationship. The EU geopolitical ambitions could start to bear fruit? Maybe because of the ascension of China on the world scene, European leaders will have to find a way to deal with the world’s largest democracy in order to promote their interests in Asia.