Belex at news highs in 2025, Eneroprojekt most traded

The domestic market continued to grow last week, with relatively solid stock turnover, after a while. The total turnover on the market amounted to RSD 55.7m (EUR 0.5m), while the Belex15 index increased by half a percent to almost 1,195 points.

The most actively traded stock was the construction company Energoprojekt Holding (ENHL), which achieved a turnover of RSD 18.6m, with a decline of 13.8% to RSD 431. Just a week earlier, with low turnover, this stock rose to a multi-year high of RSD 550. Despite this slump, the current stock price of the once-largest domestic builder is higher than the price from the public offer in January, when Napred bought only a handful of shares at RSD 375 per share.

The aluminum rolling mill, Impol Seval (IMPL), recorded a turnover of RSD 7.2m, with the majority at the level of RSD 7,800. Last week, the company’s shareholders approved a dividend of RSD 372.5 per share, which, like last year, was mostly paid out of undistributed profits from previous years.

Shares in Dunav Osiguranje (DNOS) continued their upward trend, with a 4.8% increase to RSD 1,584, with a turnover of RSD 5.0m. Since the beginning of June, the shares of the largest domestic insurance company have gained around 13%.

Shares in Messer Tehnogas (TGAS) fell by 1.1% to RSD 34,600, with a turnover of up to RSD 3.6m, while Belgrade Airport (AERO) remained flattish at RSD 2,200, which is also the record value of the stock.

WEEKLY REPORT, June 16-20, 2025