Thailand Stocks: Ch. Karnchang, Thaicom, Thai-German Products
Thailand’s SET Index rose 2.09, or 0.2 percent, to 1,034.06, bringing its gain for the week to 4.3 percent.
The following companies were among the most active in trading. Stock symbols are in parentheses.
Ch. Karnchang Pcl (CK TB), Thailand’s second-biggest publicly traded construction company by market value, rose 4.3 percent to 9.70 baht, the highest level since Nov. 5. The stock was raised to “buy” from “hold” at IV Global Securities Pcl.
Esso (Thailand) Pcl (ESSO TB), a refinery unit of Exxon Mobil Corp., gained 5.7 percent to 7.40 baht, the highest close since March 24. Macquarie Group Ltd. raised its rating on the stock to “outperform” from “neutral” and increased it price estimate to 9 baht from 6.5 baht.
Thai-German Products Pcl (TGPRO TB), a steel pipe maker, gained 5.3 percent to 0.20 baht, the biggest gain in a week. The company said the Central Bankruptcy Court approved its rehabilitation plan.
Thaicom Pcl (THCOM TB), Thailand’s satellite monopoly, rose 2.5 percent to 6.2 baht, the highest close since Nov. 22. The company’s contract with the Indian Space Research Organization will be completed soon, boosting revenue in 2011, Bualuang Securities Pcl wrote today in a research report.
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