Do You Know Why These 5 NZX Stocks Are In Spotlight -PHL, AFC, SML, TLS, MCY?

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A country’s economic wellbeing is dependent on diversified pillars namely, healthcare, telecommunications, food & beverages, energy, and industrial sectors. A slight impact to these sectors greatly affects the country’s economic health.

On 22 March 2021, at the end of the trading session, S&P/NZX 50 Index was at 12,329 basis points, down by 1.49 per cent.

Here in this article, let us glance through the 5 NZX stocks from different sectors which either climbed up the NZX chart, traded flat or were on decline.

Promisia Healthcare Limited (NZX:PHL)

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Providing healthcare services across New Zealand, Promisia Healthcare Limited has announced an update on the extension of its Ranfurly Development which comprises of Ranfurly Residential Care Centre (RRCC) in Feilding, a town in NZ’s Manawatu District of the North Island. The update involves the construction of 32 outer units and 10 inner units.

This facility is being financed and built by Design Care Limited. In 2020, when Promisia had acquired 3 aged care facilities, it also obtained the title with a purchase price of $14.18 million to the bare land for the Ranfurly Development.

On the successful completion of these new units, which is likely to be completed by 2023 and as per the guidelines of the Retirement Villages Act, Promisia will sell the occupational rights of these units for it foresees a huge demand as Fielding has limited number of independent units.

Shareholders may invest in PHL’s share purchase plan (SPP) with $15000 at 0.1 cps, application

On 22 March 2021, at the end of the trading session, PHL stock traded flat at $0.002.

AFC Group Holdings Limited (NZX:AFC)

Auckland based, AFC Group Holdings Limited specialises in food research and development. It focusses on delivering top quality food along with employee safety.

The Group has witnessed an alteration in its management. AFC saw the resignation of its Director, Hao Long w.e.f. 22 March 2021. However, Long will continue to work as the Group’s Chief Financial Officer.

MUST READ: New Zealand’s 5 Penny Stocks Drawing Investors’ Attention- AFC, BRM, GSH, SVR, ACE

On 22 March 2021, at the end of the trading session, AFC stock traded flat at $0.001.

Synlait Milk Limited (NZX:SML)

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Headquartered at Canterbury, Synlait Milk Limited is New Zealand’s dairy processing company. With around 200 milk suppliers, the Company aims to supply the best nutritive milk across the globe.

Mark Toomey, Synlait’s Director Operations, has stepped down from his position to pursue other opportunities. He shall continue to work till June 2021 and was instrumental in SML’s operations amid COVID-19.

Also, Matthew Foster has been appointed as the Acting General Manager, Manufacturing and will help in the smooth transition of Toomey.

MUST READ: Why The Buzz Around 3 NZX Dairy Companies- a2 Milk, Synlait, Fonterra

On 22 March 2021, at the end of the trading session, SML stock was down by 7.44% at $3.730.

Telstra Corporation Limited (NZX:TLS)

Source: Copyright © 2021 Kalkine Media Pty Ltd

This Australian based telecommunications and information company offers a varied range of communicative services.

Few updates announced by Telstra in its proposed legal corporate restructure are enumerated as following:

  • To establish a new holding company for TLS.
  • To create InfraCo Fixed, InfraCo Towers and ServeCo as separate subsidies, which are likely to be completed by December 2021.
  • To initiate the establishment of Telstra International for its international businesses.
  • To introduce a new holding company and transfer requisite assets into ServeCo.

It is pointed out that there will be no change in the ownership levels of the Telstra shareholders who will be owing shares in the new holding company.

Andrew Penn, Telstra’s CEO expressed that this new legal structure would prove to be of strategic importance and a crucial turning point in the Company’s T22 strategy.

On 22 March 2021, at the end of the trading session, TLS stock was up by 0.29% at $3.470.

Mercury NZ Limited (NZX:MCY)

This electricity generator provides 100% renewable energy from sources like hydro, thermal, wind and solar. As on 22 March 2021, the Company’s market capitalisation stood at $8.44 billion.

Mercury NZ recently entered into a strategic agreement with PowAR to acquire Tilt Renewables’ Australian business and Mercury NZ Limited to acquire Tilt Renewables’ New Zealand business. Mercury will acquire 19.92% of the Tilt’s shareholdings.

It has been awarded BBB+/ Stable rating by Standard & Poor’s reflecting a stable financial balance sheet.

On 22 March, the Company released a presentation- Governance Roadshow wherein Mercury NZ provided details on its direction, KPIs, HY2021 highlights, which included earnings guidance like EBITDAF $294 for HY2021, up $36 million on HY2020. Moreover, the Company has declared $6.8 cps, as an interim dividend and 17 cps for full year to be paid to its shareholders.

On 22 March 2021, at the end of the trading session, MCY was down by 5.34% at $6.200.

(NOTE: Currency is reported in NZ Dollar unless stated otherwise)






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