Thailand Stocks: Aapico, Ratchaburi, Somboon, Sub Sri Thai
The SET Index (SET) fell 0.5 percent to 1,051.64.
Auto-part producers: The automotive industry was upgraded to “overweight” from “neutral” by Suchot Tirawannarat, an analyst at KGI Securities (Thailand) Pcl, who cited the recovery of production following floods in the country. The analyst’s top buys are Somboon (SAT) Advance Technology Pcl (SAT TB) and Aapico (AH) Hitech Pcl.
Somboon climbed 7 percent to 23 baht, the steepest advance since Oct. 27. Aapico jumped 5.7 percent to 11.10 baht. Chai Watana Tannery Pcl (CWT) added 13 percent to 11.1 baht, the highest close since March 22.
Ratchaburi Electricity Generating Holding Pcl (RATCH) , a power producer, fell 0.6 percent to 44 baht, the biggest drop in a week. The company’s subsidiary raised its stake in a wind farm project by buying shares in Sustainable Energy Corp.
Sub Sri Thai Pcl (SST) , a warehouse operator, jumped 29 percent to 18.9 baht, a record high. The company expects revenue in 2012 to climb to about 2 billion baht ($63 million) from 700 million baht in 2011 on acquisitions of fast-food restaurants and doughnut chains, Kao Hoon reported, citing Pilanchai Pradubphong, a director. The company may acquire other food businesses to boost earnings, the Thai-language report said. Pilanchai wasn’t available for comment when called at his office today.
Thai Rubber Latex Corp. (Thailand) Pcl (TRUBB TB) climbed 1.8 percent to 3.42 baht, the highest level since Dec. 9. Thailand’s government plans to spend 17 billion baht to buy rubber at above-market rates to boost prices, Deputy Prime Minister and Commerce Minister Kittiratt Na-Ranong said yesterday.
To contact the reporter on this story: Anuchit Nguyen in Bangkok at firstname.lastname@example.org
To contact the editor responsible for this story: Darren Boey at email@example.com