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Thailand Stocks: Electricity Generating, IRPC, Pato, Thai Air

Dec. 14 (Bloomberg) -- Thailand’s SET Index rose 4.09, or 0.4 percent, to 1,037.41 at the 4:30 p.m. close, its highest level in a week. Shares of the following companies had unusual moves and stock symbols are in parentheses.

Electricity Generating Pcl (EGCO TB), a power producer, gained 2.6 percent to 97.5 baht, its steepest rise since Sept. 16. Electricity Generating bought two companies from Covanta Energy International Investments Ltd. for around $215 million, according to its filing to the stock exchange.

IRPC Pcl (IRPC TB), Thailand’s second-biggest petrochemical maker by market value, rose 9.4 percent to 5.85 baht, the highest close since May 2008. PTT Pcl (PTT TB), the nation’s biggest energy company, aims to raise its stake in IRPC to 50 percent from 36.1 percent, the Bangkok Post reported, citing PTT chairman Norkun Sitthipong. PTT lost 0.6 percent to 324 baht.

Pato Chemical Industry Pcl (PATO TB) an importer of pesticide, dropped 6.1 percent to 13,8 baht, its steepest decline since March 22, after denying a Thun Hoon newspaper financial performance forecast report. The stock surged 23 percent yesterday.

Thai Airways International Pcl (THAI TB), the nation’s biggest carrier, fell 3.7 percent to 52.25 baht, its biggest drop since Oct. 4. Economy class bookings are lagging behind corporate travel because of anti-government protests in April, according to President Piyasvasti Amranand.

Thai Polycons Pcl (TPOLY TB), a construction company, rose 3.3 percent to 2.52 baht. The Stock Exchange of Thailand will move the stock to the main trading board from Dec. 16. The stock now trading on a smaller board called the Market for Alternative Investment, according to its filing to Thai exchange.

To contact the reporter on this story: Suttinee Yuvejwattana in Bangkok at suttinee1@bloomberg.net

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

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