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Vietnam Stocks: Becamex Infrastructure, Elcom, Sao Ta Foods

Nov. 28 (Bloomberg) -- Shares of the following companies had unusual moves in Vietnam trading. Stock symbols are in parentheses and prices are as of the close.

The VN Index, the benchmark measure of the Ho Chi Minh City Stock Exchange, fell 0.04 point, or less than 0.1 percent, to 383.31. The measure gained 1 percent last week.

Becamex Infrastructure Development Joint-Stock Co. (IJC VN), which develops real estate, surged 4.2 percent to 9,900 dong, the first gain in three days. The company forecasts after-tax profit to increase 24 percent to 385 billion dong ($18 million) and sales to climb 20 percent to 1.82 trillion dong in 2012, it said in an exchange filing.

Elcom Corp. (ELC VN), which offers telecommunications, information technology, automation and electronics products and services, dropped for a second day, plunging 4.9 percent to 23,500 dong. That’s the lowest close since Nov. 8. The company plans to cut its 2011 after-tax profit target by 43 percent to 111.3 billion dong, according to a statement on the bourse’s website. The company lowered its sales target to 504 billion dong, down from 945 billion it planned initially.

Sao Ta Foods Joint-Stock Co. (FMC VN), which processes food, jumped 3.7 percent to 11,300 dong, the highest level since Nov. 1. Sales this year may reach $80 million, beating an initial target by 15 percent, the company said in a statement on its website. That will help it pay a dividend of 2,500 dong a share for 2011, according to the statement.

To contact the reporter on this story: Nguyen Dieu Tu Uyen in Hanoi at uyen1@bloomberg.net

To contact the editor responsible for this story: Darren Boey at dboey@bloomberg.net

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