Vingroup shares increase sharply, billionaire Pham Nhat Vuong gets richer

Billionaire Pham Nhat Vuong got richer with his assets increasing to 15.8 billion USD thanks to the continuous increase in Vingroup shares. His wife became the second female billionaire in Vietnam. Meanwhile, the stock market slumped.

The stock market on the morning of September 29 was quiet with quite low liquidity, reaching over VND 4,800 billion on the HoSE floor. Most of the pillar stocks were under selling pressure after a long period of strong growth, from April to early September. The VN-Index also had a rare breakthrough, more than 50% from 1,100 points to nearly 1,700 points as at present.

Profit-taking pressure spread to the mid- and small-cap group, when cash flow has not yet been able to support.

However, the group of “Vin” stocks continued to break out and carry the entire market, pulling the VN-Index up slightly for most of the morning. By 10:00 a.m., the VN-Index had increased by more than 4 points to 1,665 points.

Of the 30 pillar stocks, only Vingroup (VIC), chaired by billionaire Pham Nhat Vuong, increased by VND6,000 to VND170,000/share. This is a record high for this stock. Vinhomes (VHM) increased by VND3,200 to VND102,200/share. Vincom Retail (VRE) increased by VND150 to VND29,550/share.

Besides, Petrolimex (PLX) also increased by 350 VND, to 35,150 VND/share. GAS remained unchanged. The remaining 25 blue-chips all decreased in price.

SSI Securities (SSI) fell sharply, losing 700 VND to 37,300 VND/share. Sacombank (STB) fell 800 VND to 55,700 VND/share. Vietjet (VJC) fell 2,900 VND to 129,600 VND/share.

Billionaire Pham Nhat Vuong saw his assets skyrocket thanks to Vingroup shares increasing more than fourfold, reaching a peak of 170,000 VND/share on September 29. Photo: Thach Thao

Public investment group breaks through

In the whole market, only the public investment group, some real estate and oil and gas codes continued to rise despite the large selling pressure. Some codes still attracted cash flow such as Vingroup, Vinhomes, DIC Corp. (DIG), Deo Ca Traffic Infrastructure (HHV), Ho Chi Minh City Technical Infrastructure (CII), Fecon (FCN), Gelex (GEX), Vinaconex (VCG), Oil and Gas Drilling and Services (PVD), Petrolimex (PLX)...

Public investment group increased sharply in the context that the Government is preparing to disburse a large amount of money for projects in the last months of the year.

In mid-August, to celebrate the 80th anniversary of National Day, 250 projects and works were simultaneously inaugurated and commenced, with a total investment of up to 1.28 quadrillion VND (about 48 billion USD). Of these, 161 projects and works were commenced.

According to the plan, in the last 4 months of the year, agencies and ministries are required to accelerate disbursement to complete 100% of the plan. Thus, about more than 470 trillion VND, equivalent to 18 billion USD, will be disbursed. This is considered an opportunity for businesses in the fields of infrastructure, construction, installation, construction materials...

Some businesses are forecast to have strong profit growth in the third quarter. MBS Securities estimates that Vinaconex (VCG) will see its profit increase by thousands of percent to VND3,120 billion. Deo Ca (HHV) is estimated to have a profit of VND165 billion thanks to the two BOT and construction sectors with a series of large projects being rushed to implementation.

Hanoi plans to hold groundbreaking ceremonies for many projects on the occasion of the Capital Liberation Day, October 10. These are the Thuong Cat Bridge and the road at both ends of the bridge; Component 2 - Tran Hung Dao Bridge; Hanoi Kidney Hospital (facility 2); Ngoc Trai Theater and thematic cultural and artistic park; Hanoi Urban Railway Line No. 2, Nam Thang Long - Tran Hung Dao section...

Mr. Pham Nhat Vuong's assets increased sharply

With the strong surge of Vingroup (VIC) shares, billionaire Pham Nhat Vuong continues to see his assets increase sharply. According to Forbes, Mr. Vuong has assets of 15.8 billion USD, ranked 161st in the world. Mr. Vuong's wife, Ms. Pham Thu Huong, has not been ranked by Forbes yet. She is holding more than 170.6 million VIC shares, worth more than 29,000 billion VND, equivalent to nearly 1.1 billion USD.

Ms. Huong is the second female USD billionaire in Vietnam after Ms. Nguyen Thi Phuong Thao (with assets worth 3.4 billion USD, ranked 1,183 in the world).

Ms. Huong has held the position of Vice President of Vingroup since 2021.

Vingroup shares have increased more than four times since February. Recently, Vingroup has received a lot of positive news with the implementation and licensing of a series of large projects. This group has just entered the electricity industry with the Hai Phong LNG thermal power plant project, with a total designed capacity of 4,800 MW and a total capital of more than 178 trillion VND.

Vingroup's subsidiary - Vietnam Exhibition Fair Center (VEF), recently proposed a plan to pay cash dividends at VND33,000/share. Vingroup could receive nearly VND4,600 billion.

According to CSI Securities, last week, the positive cash flow prioritized stocks with small and medium capitalization, focusing on real estate, infrastructure construction, insurance, oil and gas... The trend last week was mainly sideways with low liquidity, so the possibility of an explosion in the new week is not high, unless liquidity improves.

Therefore, in the coming sessions, it is highly likely that stocks will continue to move sideways with cash flow flowing to mid- and small-cap stocks in the groups that increased strongly last week.

Vietnamnet.vn

Source: https://vietnamnet.vn/co-phieu-vingroup-tang-du-doi-nha-ty-phu-pham-nhat-vuong-them-giau-2447187.html