- Trans-Tasman quarantine free travel put on hold starting midnight today
- Trading update offered by MHM Automation inclusive of new projects
- Revised EBITDA guidance offered by Wellington Drive Technologies
Industrial stocks relate to operations such as construction, equipment, machinery manufacturing and so on, besides the related services involved. These have a direct bearing on the country’s economy, therefore, they are important players in the business.
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Even though most subsectors for Industrial stocks perform individually, collectively it can be said in times of recession, these companies see companies a sharp falls. To determine whether or not they are feasible investments, several factors need to be considered such as the market cap, the dividend giving capacity of the company as well as the stock price movement over a period of time. Let’s discuss some such stocks and their performance in the aftermath of COVID-19.
Air New Zealand Limited (NZX: AIR)
Besides offering connectivity to domestic and international destinations the Company also offers cargo services. In an announcement made by the Company today, the Trans-Tasman’s quarantine free travel is going to be put on an 8 week hold amidst the rising risk of the virus in Australia. This move ay tend to have an impact on the finances of the business, at least temporarily.
On 23 July 2021, Air New Zealand Limited traded at NZ$1505, down by 1.31% at the time of writing.
IkeGPS Group Limited (NZX:IKE)
Offering integrated GPS manufacture services for different applications, this Company has clientele across the country. In the Annual report for the period up to 31 March 2021, released by the company recently, the revenue earned was said to be NZ$9.3 million and the loss recorded for the year was NZ$ 7.5 million. The performance reflected COVID-19 related impacts.
On 23 July 2021, IkeGPS Group Limited traded at NZ$1.150, up by 2.68% at the time of writing.
Skellerup Holdings Limited (NZX:SKL)
Besides the polymer products manufactured by the Company it also offers vacuum system manufacturing. The Company recently announced that the results of the duration till 30 June 2021 shall be given out on 19 August 2021.
On 23 July 2021, Skellerup Holdings Limited traded at NZ$4.880 flat at the time of writing.
Just Life Group Limited (NZX:JLG)
This company is known for offering healthy home solutions such as Hometech, Solatube etc. At the renounceable rights offer closing announced by the Company on 21 May 2021, there were 5.9 million new shares received under the offer, representing the strong support of the shareholders, respectively.
On 23 July 2021, Just Life Group Limited traded at NZ$0.900 flat at the time of writing.
Scott Technology Limited (NZX:SCT)
This company is known to deal with production of electromagnets and robotic production lines. In its latest announcement the company said that its moving into the global markets after the Covid-19 induced disruptions. The Company is very hopeful of its forasy into the future..
On 23 July 2021, Scott Technology Limited traded at NZ$2.700, up by 1.89% at the time of writing.
MHM Automation Limited(NZX:MHM)
This Company offers automated systems for the purpose of logistics and food industry. In the recent trading update, the Company seemed positive about future prospects and an EBITDA estimate of NZ$3.5 million meant for the period till 30 June 2021. Offering new projects as a parameter for keeping the Company engaged in trade till FY22, the Company is positive about future results.
On 23 July 2021, MHM Automation traded at NZ$0.640 flat at the time of writing.
Wellington Drive Technologies Limited (NZX:WDT)
It offers high capacity fans and motor manufacturing besides IoT solutions. Raising its 2021 guidance, of late, the Company offered good business, revenue generation and disposition in the global economy. Offering new guidance of NZ$3.5 million to NZ$4.5 million, it believes to achieve these figures owing the flow of business and recovery being witnessed in world markets.
On 23 July 2021, Wellington Drive Technologies Limited traded at NZ$0.122 down by 0.81% at the time of writing.