[Featured Stock] TCC Steel, Expected Increase in Demand for Cylindrical Battery Packaging Materials... Up 7% Intraday
[Asia Economy Reporter Minji Lee] TCC Steel is showing an intraday upward trend amid expectations of improved earnings.
At 9:37 AM on the 24th, TCC Steel was trading at 12,400 KRW, up 7.36% from the previous trading day. Early in the session, TCC Steel's price surged to 12,650 KRW.
This positive reflection in the stock price is attributed to the growth potential of the new cylindrical battery packaging materials business, which is expected to create an operating profit leverage effect.
Jinhyung Park, a researcher at Cape Investment & Securities, said, "The explosive demand for cylindrical battery packaging materials will expand," adding, "The main products of the existing business, such as electro-tin, copper-plated steel sheets, and electrolytic chromium-treated steel sheets, will generate stable sales."
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The sales and operating profit forecasts presented by Cape Investment & Securities are 634.3 billion KRW and 43.1 billion KRW, respectively. These figures represent increases of 18.2% and 68.4% compared to the same period last year.
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