Top 10 best performing stocks at BSE in March

10. Oltchim

Oltchim (BSE:OLT) came in at No 10 with a 39.3% gain in March, and 36.91% year to date.

The stocks’ good performance was largely driven by the company’s optimistic forecasts of making a profit this year and the cyclic nature of the trading.

The least performing stocks that moved lower in March trading were Sinteza Oradea (STZ), -7,27%, Rompetrol Rafinare (RRC), 4,95%, Titan Ilfov (MPN), cu drops of 3,94%, Ves Sighisoara (VESY), 2,64%, and Petrol Export Import (PEI), with 2,62% decline.

9. UAMT Oradea

The shares of the car parts manufacturer UAMT Oradea (BSE: UAM) has risen 42.53% in March, and 60.71% since the beginning of the year.

The company has received recently the shareholders’ approval to merge with other companies in the group, which will bring the company’s total capital to 6.5 million lei.

8. Mefin Sinaia

Mefin Sinaia (BSE:MEF) has risen 43.33% in the trailing month, and recorded a year-to-date gain of 46.59%.

“The best-performing companies year-to-date have been those issuers whose stocks were trading at very low multiples and values 20% below 2007 highs”, Andreea Gheorghe, analyst at Intercapital Invest told Wall-Street.

7. Broker Cluj

The company’s capital cut and dividend distribution (for the first time since floatation) has pushed Broker Cluj (BSE:BRK) stock prices up 43.55% in March.

The brokerage company’s return to profit in 2009 has lifted BRK stock prices up 73.66% year-to-date.

6. Bermas Suceava

The stocks of the local spirits producer, Bermas Suceava (BSE:BRM) took the sixth spot with a 44.26% gain in March, when the company said it would distribute a dividend 25% higher than a year earlier.

Year-to-date, Bermas shares have risen 46.67% at Bucharest Stock Exchange.

“The easing in risk aversion has shifted investors’ focus to these mid cap or low cap stocks. The shares’ performance wasn’t driven by the company’s good financial results, but rather projections, investors choosing stocks deemed undervalued”, said Gheorghe.

5. Prodplast Bucharest

Plastic sheet manufacturer Prosplast Bucharest (BSE:PPL) grew 47.66% in March. Stocks have risen 11.83% from the beginning o the year.

Businessman Florin Pogonaru reported a holding of over 33% in the company, which will make Prodplast subject to a public takeover offering.

4. Aerostar

The shares of the aircraft parts manufacturer Aerostar Bacau (BSE:ARS) posted a gain of 48.53% in March, after the bank said it would pay out a dividend 4% higher than a year earlier.

Year to date, ARS shares have grown 65.57%.

3. Farmaceutica Remedia

Farmaceutica Remedia (BSE:RMAH) posted a 55.84% gain in March.

In 2009, the company turned to profit and said it would distribute a gross dividend of 0.003lei. RMAH shares have risen 59.88% year to date.

2. Compa Sibiu

Car parts manufacturer Compa Sibiu (BSE:CMP) shares have increased by 59.88% in March, and 86.44% year to date, and outperformed the market.

“Compa has grabbed the spotlight this year, same as a year earlier. The outlook for the sector the company operates in is good; one of the company’s customers is Dacia, and the success the carmaker has been enjoying for the past 12 months has attracted interest also on its collaborators”, said Georgiana Pacesila, asset manager at Confident Invest.

1. Uztel Ploiesti

Oil equipment manufacturer Uztel Ploiesti (BSE:UZT) has seen its shares taking a 85.07% leap in March.

“The performance of the market should be analyzed at large; a quarterly 85% gain in UZT stocks must be analyzed according to the trading value of the issuer. Let’s remember that the company is one of the least traded stocks at BSE”, said the Intercapital analyst.

Year to date, UZT stocks have risen 55%.