What is driving the 6 stocks to shine or wane on the NZX?

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What is driving the 6 stocks to shine or wane on the NZX?

 What is driving the 6 stocks to shine or wane on the NZX?
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Summary

  • NZ RegCo enquires about the share price of Enprise Group.
  • Underpinned by solid performances across its chilling and freezing businesses, MHM Automation forecasts an impressive EBITDA.
  • General Capital navigated well through the headwinds posted by uncertain times and reports a power-packed performance for FY21.

Economies are again on the path to recovery and regaining their strength as COVID-19 cases across the globe shrink and vaccination programmes continue to roll out.

Hence, numerous companies are seeing a jump in their stock prices. However, there has been a downside experienced by some stocks as well.

Source: Copyright © 2021 Kalkine Media

In the light of the above backdrop, let us quickly look into the reasons as to why some NZX-listed stocks are shining while others are waning.

Enprise Group Limited (NZX:ENS)

Operating as an investment vehicle for technology companies, Enprise Group Limited was recently questioned by NZ RegCo for an 18.18% increase in its share price.

However, the Group stated that it had complied with all the regulatory disclosures as laid down by the former.

On 15 June, at the time of writing, shares of Enprise Group were trading flat at NZ$2.25.

Read: What is driving the price movement of these 6 Exciting NZX stocks?

MHM Automation Limited (NZX:MHM)

Listed on the NZX since 1959, MHM Automation Limited manufactures automated systems for the food processing and logistics sector across the globe.

The Company has forecasted an EBITDA of a minimum of NZ$3.5 million for the financial year ending 30 June 2021, mainly on accounts of strong performances across its chilling and freezing business.

With continuous improvement in its margins and solid workflows for 2022, MHM aims to build a sustainable pipeline of business operations.

On 15 June, at the time of writing, MHM Automation got a boost of 1.52% and was trading at NZ$0.670.

Do Read: Movers & Shakers: Look At How These 6 Stocks Performed During the Trading Session Today

TIL Logistics Group Limited (NZX:TLL)

NZ’s leading logistics company, TIL Logistics Group Limited, had recently announced the placement of its mandatory convertible notes worth NZ$8.2 million. The net proceeds of which would be utilised towards the repayment of its bank debt of NZ$10 million.

It is pointed out that these notes, which are unsecured and freely transferable, would mature in April 2026.

On 15 June, at the time of writing, TIL Logistics Group was trading up by 0.98% at NZ$1.030.

Also Read: Are These 5 Small-Cap NZX Stocks Suitable For Long-Term Investment?

NZ Windfarms Limited (NZX:NWF)

The operator of a long-term specialist wind farm, NZ Windfarms Limited, had recently notified its investors about an agreement with the terms of VVFPA (Variable Volume Fixed Price Agreement) for 25% of production from Q4 2022 to Q2 2023.

On 15 June, at the time of writing, NZ Windfarms saw a rise of 2.38% and was trading at NZ$0.215.

Scott Technology Limited (NZX:SCT)

The high-technology engineering company Scott Technology Limited posted a market update on the increased international demand for automation as global markets recover from the initial shock of the coronavirus pandemic.

As a result, numerous deferred projects are back in the pipeline, and international markets are foreseeing a positive momentum.

With proven expertise in automation, Scott too is reaping benefits from the enhanced demand with significant projects in the US, Europe, Australia, and China underway.

On 15 June, at the time of writing, Scott Technology was trading flat at NZ$2.58.

Don’t Miss: What caused the Rise and Fall of These 4 NZX Stocks Today- SVR, SCT, BGI, DGC

General Capital Limited (NZX:GEN)

Last on the list is financial services company, General Capital Limited. It has declared a strong annual performance for the period ended 31 March 2021 amid uncertain times of the pandemic. It has reported a revenue of NZ$4.9 million and an NPAT of NZ$82K, up 34% and 37%, respectively, on pcp.

The Company continues to benefit from profitable lending opportunities and strong investor support.

It would publish its annual report 2021 towards the end of June 2021 and is likely to schedule its Annual Shareholders' Meeting in July this year.

On 15 June, at the time of writing, General Capital was trading flat at NZ$0.056.

Recommended Read: Look at these 5 trending penny stocks on NZX

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