The domestic stock market is showing a sideways trend toward profit-taking sales by institutional investors. However, there are stocks that have been bought by organizations that are shouting out. POSCO Chemical in charge of POSCO’s secondary battery material business(140,500 +1.44%)to be.
POSCO Chemical’s stock price jumped more than 35% this year as the institutional love call continued. In the securities industry, POSCO Chemical’s target price has been raised.
Field workers at POSCO Chemical’s pilot plant are demonstrating an extended reality (XR)-based remote collaboration solution. Provided by the Information and Communication Industry Promotion Agency.
As of 1:50 pm on the 27th, POSCO Chemical is trading at 141,000 won, up 1,000 won (0.72%) from the previous day. It jumped 34.13% compared to the beginning of the year.
The institution is leading the stock price to rise. The institution has been net selling more than 16 trillion won on KOSPI for 19 consecutive trading days since the 29th of last month, but POSCO Chemical stocks have been net buying more than 76.5 billion won this year alone. Last year, the institution also bought 1357 billion won worth of POSCO Chemical shares.
On the 9th of last month, POSCO Chemical attracted attention by stating that it will supply cathode materials to a joint venture between General Motors (GM) and LG Energy Solutions for electric vehicle batteries. The cathode material supplied by POSCO Chemical is known as a cathode material that can travel 500km or more once charged.
The POSCO Group is growing the battery material business as a future food, and has started to build a value chain, such as developing next-generation materials and securing raw materials to secure mass production capabilities, centering on POSCO Chemical. This is why the institution is investing intensively in POSCO Chemical as a core stock for rechargeable batteries.
Experts estimate that POSCO Chemical is still likely to rise further despite the recent surge in stock prices. It is expected that the rechargeable battery material division’s profitability will improve in earnest from this year.
Kwangjin Kim Yuanta Securities(3,215 -0.77%) The researcher said, “Posco Chemical is worth giving a premium because it is the most advanced in European production among domestic cathode material companies.” It was evaluated as a stock with high potential.”
POSCO Chemical announced a paid-in capital increase worth KRW 1 trillion in November last year, and new stocks will be listed on the 3rd of next month.
Yoon Jin-woo, reporter at Hankyung.com [email protected]
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