[Alpha Biz= Reporter Kim Minyoung] Samyang Foods, known for sparking a global craze with its spicy Buldak Ramen, surpassed its competitor Nongshim in market capitalization on the 10th.
On that day, Samyang Foods closed trading at 325,500 won, up 5% from the previous day's closing price. Its market capitalization reached 2.452 trillion won.
Nongshim, on the other hand, closed at 402,500 won, up 1.26%, with a market capitalization of 2.4483 trillion won, slightly lower than Samyang Foods by 37 billion won.
Samyang Foods reached a high of 333,000 won in early trading, setting a new 52-week high.
In the first quarter, Samyang Foods reported consolidated sales and operating profits of 311.9 billion won and 43 billion won, respectively, marking an increase of 27.0% and 80.4% compared to the same period last year. With results exceeding market expectations (estimated at 325.9 billion won / 37.1 billion won), major securities firms raised Samyang Foods' stock price targets last month.
Alphabiz Kim Minyoung (kimmy@alphabiz.co.kr)
