The stock price of Nuvotec, a manufacturer of water supply and sewage pipes, is strong in the early trading on the 18th. As damage continues from the ongoing heavy rain, buying sentiment has surged amid expectations of recovery.
As of 9:15 a.m. that day, Nuvotec is trading at 1,944 won, up 190 won (10.83%) from the previous trading day.
Damage is occurring everywhere due to the record heavy rainfall that began on the 16th. According to the Central Disaster and Safety Countermeasure Headquarters, public facilities damage was reported to be 496 cases as of 6 a.m. that day. Road flooding accounted for the most at 328 cases, followed by soil erosion at 62 cases, embankment failures at 30 cases, road sinkholes at 3 cases, river floods at 2 cases, rockfalls at 2 cases, station flooding at 1 case, wall collapses at 1 case, and agricultural land flooding at 1 case.
Private facility damage totaled 276 cases, with building flooding being the most at 203 cases. Other damages included rice flooding at 28 cases, vacant house and wall collapses at 3 cases, dwelling flooding at 1 case, private land wall collapse at 1 case, and damage to vehicles and parts of buildings due to soil runoff at 1 case.
Nuvotec engages in the manufacturing of plastic water supply and sewage pipes, including rainwater storage facilities, as well as recycling businesses.