Alternergy joins PSE industrial index

By Lenie Lectura – August 13, 2024
from Business Mirror

Alternergy Holdings Corp. has been included in the industrials index of the Philippine Stock Exchange (PSE) sector indices.

“We are thrilled to be added to the PSE’s Industrial Index after just one year of being a publicly listed company. While market conditions have been challenging, we have remained focused on delivering results and steadily increasing our company’s value.

We have accelerated our project pipeline, and as more of our projects come online, we are confident in our continued growth and success,” said Alternergy President Gerry P. Magbanua.

Based on the PSE barometers for the industrial index, the company qualified to all the requirements for the sector indices inclusion.

“The index review ensures that market barometers feature the most qualified stocks based on the set criteria,” PSE President Ramon S. Monzon said. Alternergy is among the top companies in terms of liquidity; it has a free float level of at least 20 percent of its outstanding shares; and is adherent to PSE’s financial criteria.

To track the performance of specific sectors of the market, the PSE maintains six sector indices representing each major sector under the industry classification of the Exchange. These indices are the Financials Index; Industrial Index; Holding Firms Index; Property Index; Services Index; and Mining and Oil Index.

By gauging changes in the stock prices of select listed companies, the Industrial index provides a snapshot of the sector’s overall condition.

“Within the sector of Industrial Index, Alternergy is one of the key representative companies under the subsector of Energy, Electricity, Power and Water,” Magbanua added.