PVD and steel marker stocks top picks this week

Oil driller PV Drilling (PVD) and Hoa Phat Group (HPG) could be among this week's gainers. “Many investors have opted for PVD, which has shown a healthy recovery since June,” said Fiachra MacCana, research director of the Ho Chi Minh City Securities Corp.

PVD, which offers technical services to the oil and natural gas industry, rose 3.6% on Friday to close at VND72,500. It was among eight stocks that rose on all five trading days last week. Technical analysis showed the firm’s share price will enter a new rising period.

Steel stocks, meanwhile, may move into positive territory after the Ministry of Planning and Investment increased the import tax of steel ingot to 5% from zero to protect domestic makers from overseas competition.

The ministry also proposed an increase in the imported tax of finished steel to 20% from the current 10%.

Along with Hoa Phat Group, the country’s largest steel producer, analysts expect other makers – including SMC Investment - Trading Joint Stock Co. (SMC), Vietnam - Italy Steel Joint Stock Co. (VIS), Viet Han Corp. (VHG) and Ho Chi Minh City Metal Corp. (HMC) – will be best choice for small-time investors. (TN)