Higher collections, higher returns

Written by the Apostle Menthos

With massive gains of up to 4 times the overall index and the rest of the market, four strong high-cap groups are racing to finish at the top of annual returns, thereby declaring their extremely aggressive mood for 2024 as well. We’re talking about Intrakat (INKAT) whose share price has risen since the beginning of the year by +157%, Cenergy Holdings (CENER) which has given its shareholders an amazing increase in their capital by +130%, and Aegean Airlines (ARAIG) with its imperial return and performance at heights of +123%. And Piraeus Bank (PEIR) also has a historic annual increase of +116%. Also interesting is the total volume of transactions conducted by these four leading groups from the last trading day of 2022 to date.

Thus it appears that Intrakat achieved 54% of its total number of shares or 87 million shares on the board, Cenergy due to “closed” achieved 79.78% by the parent company Viohalco 27.35% or 52 million pieces, and Aegean 34.38% or 31 million pieces. Piraeus will not be able to return all of his capital by the end of the year, as the percentage so far stands at 92%, or a staggering 1.14 billion shares.

So we start at No. 1 in performance Intercat, as it appears on the two-week price chart threatening the important resistance area at EUR 3.75 to EUR 3.80 after the bullish breakout of the summer accumulation area at EUR 3.25. A confirmed bullish breakout at EUR 3.80 will pave the way for a breakout to the next level at EUR 4.43, where Intrakat stock graphically shows that – as much as it sounds – it is still not “satisfied” despite this year’s explosive return of +157 %. In fact, it is very likely that in 2024 they will be among the companies that will offer the best stock returns. After all, the way Intrakat’s forces are now lined up, it is easy to understand that the Vice President and CEO of the Group, Mr. Alexandros Exarchos, will use Aktor ATE as a strategic tool to break the gate of the billion-person Euro capitalization on the Elenico Stock Exchange. Speaking of which, why wouldn’t this pillar work given that the new pillar has a total backlog of €5 billion, while it is one of the largest infrastructure schemes in the country offering significant synergies in the construction sector, PPPs, concessions and energy, with A portfolio of 370 projects, a combined annual turnover of €1 billion and more than 3,000 employees. Let us not forget that Mr. Exarcho has created a dangerous legacy for the future as what he declared in the past has been carried out to the letter.

Move to energyThere is no stopping the wave of new deals worth tens of millions of euros, the latest of which is a contract worth more than 27 million euros from the Greek Gas Transmission System Operator (DESFA), for the construction and supply of approximately 56 km. of submerged arc seam steel pipe (LSAW) in the gas interconnection under development between Greece and North Macedonia (IGNM). The Group, after a series of catalytic investments, now produces such cutting-edge products that they are almost unparalleled on a global scale. New tasks continue to increase the backlog of orders at a crazy pace, reaching at the end of last September a staggering amount of 3 billion euros from 2.5 billion euros at the end of June, leaving a large “dowry” of upward performance for the company. 2024. Graphically, once the stock passes inside the EUR 7 to EUR 7.40 area, it will start to see EUR 9 in the background.

H Aegean Sea She’s not done flying yet. It’s not even halfway there. At least that’s what fundamentals and chart analysis show. Finally, the fortnightly price chart shows that a strong base of buyers is being established above the €11 support area for the sole purpose of an upward split of €12.20 with a move towards the highs of €13.80. Then the road will be opened for 16 euros. Here, the impressive tourism movement achieved in 2023 provides evidence of an upward trend for 2024 as well.

I close with her Piraeus BankI will not mention much, as its complete privatization in early 2024, with the allocation of 27% of the Financial Stability Fund, is a priority. If the argument achieves the same success as National Bank and Alpha Bank, nothing will stand in the way of the stock’s upward trajectory. However, schematically, it appears that the route remains open initially for €3.60 and immediately afterwards for €4.

* Apostolos Manthos is responsible for technical analysis and investment strategy

* Copied from “Kevalayo” newspaper.