Modest trading on Belex, indices inch up

As expected, the shortened trading week resulted in low turnover, and the more active issuer activity regarding financial results announcements did not contribute to higher turnover on the market. Total turnover over three trading days amounted to RSD 21.3m (EUR 0.2m), while the Belex15 index rose by 0.6% to 1,142.3 points.

Messer Tehnogas (TGAS) was the most active stock, with a turnover of RSD 1.8m and a price increase of 2.7% to RSD 34,396. The company announced its FY24 consolidated financial results, which, as expected, showed a significant increase in profitability. The company’s consolidated profit jumped 39.4% to a record high of almost RSD 5.0bn.

Dunav Osiguranje (DNOS) shares experienced significant price fluctuations, with a modest trading volume of RSD 1.0m. The stock price has fluctuated from RSD 1,333 to RSD 1,450. The AGM approved all the proposed agenda items, including a gross dividend of RSD 121.45 per share.

Gornji Milanovac-based Metalac (MTLC) rose slightly to RSD 2,000 with a turnover of less than RSD 1.0m. The company announced Q1 results of its subsidiaries, showing a positive business trend in key production and trading companies.

Jedinstvo Sevojno (JESV) led the losers with a drop of 3.4% to RSD 7,228 on a turnover of RSD 0.9m. The company reported that last year’s consolidated profit was a modest RSD 63.9m. At the same time, it announced a solid backlog for the current year, and management expects an increase in revenues of about 40%.

WEEKLY REPORT, April 28-30, 2025