[Featured Stock] HD Hyundai Group Shares Rise Together on News of Additional Ship Orders

HD Hyundai Group affiliates are all showing an upward trend in the stock market on the 15th. Expectations that earnings will be better than anticipated due to a series of shipbuilding orders have influenced this rise.

As of 1:30 PM on the day, HD Hyundai Heavy Industries Holdings was trading at 196,000 KRW, up 4.13% from the previous day's closing price. The stock price rose rapidly in the early session, increasing by more than 6% during the day before experiencing some correction.

HD Hyundai Heavy Industries also traded at 193,300 KRW, up 4.09%. HD Hyundai Marine Engine was trading up more than 4% as well.

The large-scale order news is interpreted as the factor driving the stock prices up. HD Hyundai Heavy Industries Holdings, the intermediate holding company of the group's shipbuilding division, announced that it signed a construction contract for two ultra-large ammonia carriers (VLAC) worth 339.6 billion KRW with a shipping company based in Oceania.

The company has secured a total of 169 ships this year, already achieving 140% of its annual order target. Affiliate HD Hyundai Heavy Industries is responsible for shipbuilding, while HD Hyundai Marine Engine mainly produces ship repairs and ship engines.