Sembcorp Industries - rallies on Green IPO filing, inclusion to MSCI Small Cap Index

🔝 $Sembcorp Ind(U96.SI)$ (SCI) shares is amongst some of the top stock movers in Singapore today, with its 4% gain to $6.20 as of 916AM

The stock has recovered strongly from its 52-week low of $5.22 on 27 July, a 16.3% gain to its current price of $6.15 (as of 923AM). Trending SCI call warrant $SembInd MBeCW270225(KYRW.SI)$ (https://warrants.com.sg/tools/livematrix/KYRW) has consequently rallied 80% to $0.054 over the same period

📶Yesterday, SCI closed 1.5% lower at $5.92 on extraordinary volume that was between 15-18 times more than its average traded volume, as the shares was removed from the MSCI Singapore Index and moved to the MSCI Small Cap Index effective 31 Aug

Three days before, the company confirmed their USD 450million IPO filing in India for subsidiary Sembcorp Green Infra - an event which if completed as early as 1Q27, could boost SCI's valuation, according to the three brokers which upgraded their target prices on SCI in Aug

Finally, in early Aug, SCI secured conditional EMA approval to import 300MW of electricity from Peninsular Malaysia, part of a broader 900MW grant, with commercial operations targeted around 2029 (MT Newswire)

🤖Looking at the technical charts, Bloomberg AskB has flagged $5.88 as a trailing stop reference, and near-term target prices of $6.40 as well as mid-term targets of $7-7.21

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  • 6.40 looks fair near term, but 6.55 is the cleaner resistance to watch. Volume stays this hot and it can squeeze through
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