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Highlights
- NZ imports continue to rise in September 2021 for the third consecutive month.
- Rakon to unveil its half-year results in late November.
- Scott Technology bags a project worth NZ$20 million for a leading US-based appliance manufacturer.
Industrial stocks lay the very foundation of the development of an economy. It comprises those companies which are engaged in producing machinery, equipment, supplies, etc., that are used in the construction and manufacturing sectors.
As per Stats NZ, New Zealand’s total merchandise trade exports for September 2021 clocked NZ$4.4 billion, while its imports stood at NZ$6.6 billion.
Due to the ongoing solid demand for capital goods like machinery used in the manufacturing of vehicles and the construction sector, the country is witnessing a continuous rise in its imports, thereby marking a record trade deficit. It is noted that NZ$2.2 billion is September's trade balance deficit.
That said, let us take a peek into popular NZ industrial stocks.
Image source: © 2021 Kalkine Media New Zealand Ltd, data source- EODHD/Others
Rakon Limited (NZX:RAK)
First, we would look at Rakon Limited, which manufactures frequency control products. Today, the Company announced to unveil its HY2022 results on 25 November, followed by a teleconference by the management.
Shares of Rakon decreased 2.55% at NZ$1.530, on 28 October, at the time of writing.
Related Read: 5 Popular NZX telcos to look at in October 2021
Scott Technology Limited (NZX:SCT)
Having expertise in robotic solutions, Scott Technology Limited has operations spread across Australasia, Europe, China, and the US. Recently, SCT revealed signing a multi-million-dollar contract with a famous global appliance manufacturer from the US.
Must Read: Which are five popular capital goods stocks in New Zealand?
The said project costs NZ$20 million, with work commencing immediately and the expected delivery would be in late 2022.
At the time of writing, on 28 October, Scott Technology climbed 0.93% at NZ$3.24.
Skellerup Holdings Limited (NZX:SKL)
Coming up next is Skellerup Holdings Limited, which specialises in the manufacturing of industrial and agricultural rubber products. Today, the Company conducted its virtual Annual Shareholder Meeting, wherein resolutions were passed for the re-election of its two directors.
Further, resolutions related to increasing the directors’ fee pool as well as authorising the Board to fix its auditors' remuneration were also carried out.
At the time of writing, on 28 October, Skellerup Holdings was up by 1.33% at NZ$6.08.
Interesting Read: Skellerup (NZX:SKL): Would the Company increase its dividend distribution?
MHM Automation Limited (NZX:MHM)
Fourth is MHM Automation Limited-designed automated systems for global food processing and logistics companies. It will conduct its Annual Meeting of Shareholders on 29 October in Christchurch and will also hold an online meeting.
In case of any change in the above, the same would be communicated to its shareholders.
Shares of MHM Automation were trading at NZ$0.640, on 28 October.
Do Read: Which are the five popular NZX-listed material stocks?
ikeGPS Group Limited (NZX:IKE)
Lastly, we would look at ikeGPS Group Limited, designing solutions for managing power and telecom assets. Recently, IKE has announced the retirement of its Chair, Mr. Rick Christie.
Mr. Chistie would step down towards October-end and Mr. Alex Knowles would assume the position of IKE’s new Chair.
At the time of writing, ikeGPS Group remained unchanged at NZ$1.040, as on 28 October.
A Quick Read: ikeGPS (NZX:IKE) signs NZ$1.6m customer contract extension
Bottom Line
Industrial stocks pave the way for the economic development of any country, and a sizeable investment in these stocks is always recommended for they are sure to give good returns in the long run.