Thailand Stocks: Italian-Thai Development, Sahamit Machinery

March 20 (Bloomberg) -- Shares of the following companies had unusual moves in Thailand trading. Stock symbols are in parentheses and prices are as of the close in Bangkok.

The SET Index rose 0.6 percent to 1,196.60, the highest close since July 1996.

Italian-Thai Development Pcl (ITD TB), Thailand’s largest construction company, dropped 5.2 percent to 3.68 baht, the steepest decline since Oct. 3. The company plans to sell 1.68 billion new shares to existing shareholders and other investors, it said in a regulatory filing yesterday.

Sahamit Machinery Pcl (SMIT TB), a machinery importer, gained 2.2 percent to 3.70 baht, the highest close since August 2005. The company will pay a cash dividend of 0.12 baht per share on May 25, it said in a filing.

-- Editor: Matthew Oakley

To contact the reporter on this story: Anuchit Nguyen in Bangkok at anguyen@bloomberg.net

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