NZX Movers and Shakers Of The Day- THL, VGL, MEL, GNE

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NZX Movers and Shakers Of The Day- THL, VGL, MEL, GNE

 NZX Movers and Shakers Of The Day- THL, VGL, MEL, GNE

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NZX witness gainers and decliners during the trading session daily. Generally, a company’s stock reflects varied trends during the day’s market session, depending on the latest announcements and declarations by its management and the industry at large.

On 18 March 2021, by the end of the trading session, S&P/NZX 50 Index was at 12,496.140 basis points, slightly down by 1.17%.

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Let us now look at the 4 NZX gainers and decliners of the day.

Tourism Holdings Limited (NZX:THL)

NZ’s premier tourism company, Tourism Holdings Limited witnessed a rise of 4.00% at $2.600 by the market close on 18 March 2021.

The Company has entered into a strategic agreement with Grant Brady, its JV partner, to obtain the remaining 50% in Action Manufacturing  from the latter. This deal, which is expected to be completed in March 2021, is worth $9 million. It includes the issuance of ordinary shares amounting to $7.5 million and the remaining to be paid in cash to Alpine Bird Manufacturing (owned by Grant Brady). It is noted that as per the agreement, THL will issue 3,260,870 ordinary shares at $2.30 per share.

Vista Group International Limited (NZX:VGL)

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Global leader in film industry technology, Vista Group International Limited surged as much as 8.87% at $2.210, by the market close on 18 March 2021.

The Group had recently announced it annual results for 2020, wherein Vista maintained a resilient balance sheet with cash at $67 million. Positive operating cashflow of $3 million was recorded for the year. Also, revenue amounting to $88 million was reported for FY20.

It is pointed out that the global enterprise market share was 51% during the said year for Vista Cinema with 20+ screens barring China. Additional 216 new sites include the go-live of Odeon UK/Ireland.

The Group remains focused on effective product development as seen through Vista Cloud and the successful commercial trial of Madex.

ALSO READ: Vista Group (NZX:VGL) hopeful toward businesses’ recovery in 2021

Meridian Energy Limited (NZX:MEL)

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The country’s leading electricity jumbo, Meridian Energy Limited experienced a low of 4.71% at $5.460 by the market close on 18 March 2021.

Global credit rating agency, Standard & Poor’s Global Ratings awarded BBB+/Stable rating to MEL in February 2021, a positive jump from the previous rating of BBB+/Negative. Further, S&P confirmed ‘BBB+’ as long-term issuer credit rating with regards to MEL.

ALSO READ: 7 NZX Stocks Making Headlines Today- FCT, AGL, CEN, MEL, ERD, ZEL, PFI

Genesis Energy Limited (NZX:GNE)

Another company involved with electricity generation, Genesis Energy Limited saw a decline of 4.00% at $3.600 by the market close on 18 March 2021.

Genesis had recently announced the successful completion and commissioning of the 31 turbines at Waipipi Wind Farm (WWF) by Tilt Renewables Limited (TLT). It is noted that WWF has an enormous capacity of 133.3MW which will generate about 455GWh of electricity, sufficient for over 65000 homes across the nation.

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

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