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Thailand Stocks: CP All, Eastern Water, Home Product, Pruksa

May 9 (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 slid 1.9 percent to 1,207.25, the most since Nov. 21.

CP All Pcl (CPALL TB), Thailand’s biggest convenience store operator, slumped 6.5 percent to 36 baht, the steepest decline since Oct. 3. The company was downgraded to hold from buy at Bualuang Securities Pcl. Chaiyatorn Sricharoen, an analyst at Bualuang, said the stock’s valuation looks “stretched.”

Eastern Water Resources Development & Management Pcl (EASTW TB), the country’s largest private water supplier, gained 4.7 percent to 9 baht, a record close. Net income in the first quarter rose 37 percent from a year earlier to 324.3 million baht ($10.4 million).

Home Product Center Pcl (HMPRO TB), the biggest operator of home improvement hardware, dropped 5.6 percent to 13.40 baht, the largest decline since Jan. 24, 2011. The company was downgraded to hold from buy by Bualuang analyst Chaiyatorn, who cited its “high valuation.”

Pruksa Real Estate Pcl (PS TB), the second-largest home developer, lost 3.1 percent to 15.9 baht, the most since April 10. Net income in the first quarter dropped 13 percent to 633 million baht.

Supalai Pcl (SPALI TB), a property developer, decreased 2.4 percent to 16.10 baht, the biggest drop since Nov. 25. Profit in the first quarter fell 64 percent to 264.1 million baht.

Sri Trang Agro-Industry Pcl (STA TB), Thailand’s largest rubber producer, fell 3.6 percent to 18.8 baht, the lowest close since Jan. 18. Rubber futures lost 4 percent to end at 292.3 yen a kilogram ($3,662 a metric ton) on the Tokyo Commodity Exchange. That was the biggest drop since Dec. 15.

Srivichai Vejvivat Pcl (VIH TB), a hospital operator, surged 143 percent to 3.04 baht in its trading debut. The company sold 135 million shares in the initial public offering at 1.25 baht each.

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

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