PHILIPPINES – Investors dumped San Miguel Corporation (PSE:SMC)’s stock in today’s trading, making it the top loser among blue chip stocks traded at the Philippine Stock Exchange (PSE).
San Miguel Corporation (PSE:SMC)’s stock was down 8.67% today to Php46.35 a share, or Php4.40 lower than its closing price of Php50.75 last week, which was the highest since August 28.
The stock opened at Php48.40 but failed to rally higher. Instead it reached a low of Php46.00 today and then settled at Php46.35. A total of 355,330 shares with a total value of Php16.49 million exchanged hands in Today’s trading.
San Miguel Corporation (PSE:SMC) has a 52-week high of Php81.00 and a low of Php43.50. Its market capitalization stands at Php120.71 billion.
San Miguel Corporation (SMC) is a food, beverage, and packaging company established in 1890 initially as a single-product brewery. The Company’s extensive product portfolio includes beer, liquor, non-alcoholic beverages, poultry, animal feeds, flour, meat, dairy products, coffee, various packaging products, and full range of refined petroleum products.
SMC has transformed itself into a diversified conglomerate with market-leading businesses and investments in the fuel and oil, energy, infrastructure, telecommunications and, banking industries. The Company has strategic partnerships with international companies, among them are: Nihon Yamamura Glass Company, Ltd.; Hormel Foods International Corporation of the United States; Super Coffee Corporation Pte. Ltd. of Singapore; Penderyn Pte. Ltd.; and Kirin Holdings Company Limited.
The Company’s subsidiaries include San Miguel Brewery, Inc.; Ginebra San Miguel, Inc.; San Miguel Pure Foods Company, Inc.; and Petron Corporation, among others. – BusinessNewsAsia.com