SEOUL, KOREA - The share price of Hyundai Hysco, a manufacturer of automotive steel sheet products and various steel pipes, is rapidly on the rise on the news highlighting its growth potential. At 2:28 pm on May 21, the shares of the Hyundai Motor Group company were traded at 71,200 won, up 10.05 percent from the previous day's 64,700 won, a 52-week high.

 

The company had posted a surprise earnings performance for the first quarter. Thanks to the higher-than-expected quarterly results, the growth outlook of the steel maker has stood out.

 

Kang Tae-hyun, E-Trade Securities analyst, said, "It seems the investors' expectations on Hyundai Hysco have risen substantially after it set its sales outlook much higher than before. Given the overall downturn in the steel industry, Hyundai Hysco looked relatively better than any other competitors."

 

Currently the company produces a variety of steel pipe products for energy, manufacturing, construction, and automotive applications. The most promising area for growth is pipes for oil drilling applications which are high in value and sold overseas 100 percent.