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The victory of the coalition government in Australia has positively impacted various sectors on the stock exchange. The below mentioned three stocks are climbing up ASX charts today. Letâs take a closer look at these stocks -
nib holdings limited (ASX:NHF)
Health and medical insurance provider, nib holdings limited (ASX:NHF) has witnessed an uplift of 15.789% during the intraday trade as on 20 May 2019. After the victory of the coalition government which was having plans for the betterment of Health insurance sectors, the investors are rushing to invest in this sector, leading to the price rise in NHFâ shares.
nib holdings limited has recently completed the purchase of QBEâs travel insurance business (QBE Travel) includes the distribution and claims capability of QBE Travel for a final purchase price of $24.2 million. This acquisition is helping the company in retailing its position as Australia's third largest travel insurer.
In the last six months, the share price of the company increased by 13.05% as on 17 May 2019. NHFâs shares last traded at $6.820 with a market capitalization of circa $2.68 billion as on 20 May 2019.
Emeco Holdings Limited (ASX:EHL)
Emeco Holdings Limitedâs (ASX:EHL) shares were up by 9.14% during the intraday trade. Investors might be having positive view about this Earthmoving solutions providerâs future owing to its long-term value creation model which create a competitive advantage for the company.
The company has significantly improved EBITDA, margins and return on assets and is committed to ensuring its sustainability through the capex and commodity cycles.
Emeco Historical Performance (Source: Company Reports)
In the first half of FY19, the company witnessed strong earnings growth with EBITDA up 53.4%, EBIT up 60.0% and NPAT up 159.8%. At the end of half year period, the company had a strong balance sheet with leverage ratio further reduced to 2.1x, down from 2.6x in FY 2018.
In the past six months, the share price of the company decreased by 34.04% as on 17 May 2019. EHLâs shares last traded at $2.030 with a market capitalization of $601.18 million.
Medibank Private Limited (ASX:MPL)
The victory of the coalition government has also improved the outlook of this health insurer, Medibank Private Limited (ASX: MPL). Today, the share price of Medibank Private Limited was up by 11.458% during the dayâs trade.
This insurance provider has made significant progress in the recent past. Recently 1st Group signed a strategic pilot with Medibank Private Limited under to deploy 1st Groupâs digital online patient engagement platform, MyHealth1st. This agreement will help Medibank in maintaining its position as one of Australiaâs largest private health insurers.
In the first half of FY19, the company reported solid performance with Medibank Health Operating profit of $12.6 million for the period, up 38.5% on the previous corresponding period (pcp).
In the past six months, the share price of the company increased by 10.77% as on 20 May 2019. MPLâs shares last traded at $3.210 with a market capitalization of $7.93 Billion.
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