matter of time before share price shoots up. easily a RM3 stock. what many don't know is that the price of cement shot up in May 2023. The % increase was nearly 10% in May 2023 vs April 2023. The increase in selling price in first quarter 2023 vs fourth quarter 2023 was only around 6% and we have seen the effect in their record first quarter results.
hoping that there is more profit taking for me to collect more.
dang, SL got hit. looks like both Hume and Mcement are down. may need some time to consolidate, perhaps may go downwards further before stabilize back.
One of the stocks heavily dominated by sharks, who intentionally pressed down to collect at the cheap. It happened to Central Global, EG, Ewein & Infomina, just to name a few. That is where money is made from retailers.
The bombastic 4th quarter results will only be reported in the second half of this month. It is better to bargain hunting now at RM1.60 rather to chase after it crosses RM1.68.
We wait for the states election results on Saturday. PN is expected to win in Kelantan and Terengganu. PH_BN is expected to win in Penang, Selangor and Negeri Sembilan. For Kedah, due to the Sanusi issue, I think it is 50:50. Thus, it will be either 4 for PN_BN and 2 for PN or at worst, it will be 3 for PN_BN and 3 for PN.
Hume Cement shares up 24% after 3Q net profit jumps 14-folds
HUME Cement Industries Bhd stock price surged 24% to RM1.19 with close to 4.3 million shares exchanging hands this morning, after third-quarter net profit jumps 14-folds to RM20.71 million.
CGS-CIMB said cement industry's prospects will look brighter post the fourth quarter of calendar year 2023 once there is clarity on the MRT3, Bayan Lepas Light Rail Transit and HSR, which have a combined value of circa RM90 billion.
very likely mcement's quarterly results got leaked out. but hume's results seem to be very tightly guarded judging from the price movement before release last quarter. hume is actually superior compared to mcement. i will write a post on this soon. matter of time before hume increases the way mcement went up today more than 10%.
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troy88
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Posted by troy88 > 2023-07-11 09:37 | Report Abuse
Still bullish and may challenge RM2 soon..