Thai Stock Market Roundup July 31, 2019

A short summary to inform you of what had happened in Thai stock market on July 31, 2019


SET closed at 1,711.97 points, rose 5.48 points or 0.32% with a trading value of THB 50.85 billion. SET Index was able to rebound amid the plummet of regional markets after a huge selloff in yesterday’s trading session. Moreover, investors are waiting to see a rate cut from the FOMC meeting which could be a major factor to buoy the index to 1,750 points.

Institutions net bought THB 1,558.83 million, switching the SET Index to close higher 5.48 points.

Stocks in Focus on 31 July 2019: AMATA  and RATCH
      – The analyst stated that a sale and land transfer of AMATA has been brighter in the 2Q2019 due to moving base productions of Chinese investors and an increased in 92% QoQ of land transfer to approximately 154 rai. Therefore, the analyst recommended “BUY” AMATA share with the target price of ฿28.00/share.
      – The analyst recommended “BUY” (RATCH) share with the target price of ฿72.00/share for three reasons. Firstly, there is an upside in RATCH’s share price from a profit growth that could hit an all-time high this year. Secondly, RATCH has acquired 700MW of Independent Power Producer (IPP) and recently, 150MW of a wind farm in Australia. Thirdly, The analyst expected a 2Q/2019 profit growth to be better in both YoY and QoQ from the commencement of 34.7MW Berkprai Cogeneration SPP.

OCEAN reported ฿20 million profit in 2Q19 from palm oil trading business growth. Today’s session, OCEAN closed the day at ฿1.34/share, increased ฿0.10 or 8.06%. Moreover, during the session, the highest of OCEAN’s share was ฿1.39/share and lowest was ฿1.29/share with a trading value of ฿51.25 million. A sudden rise of OCEAN’s share today, might due to the financial statement report from OCEAN that turned from a net loss of 28.05 million in 2Q18 to book THB 20.60 million THB profit in 2Q19.

– “Thavich” scooped 13.8 million of IFEC shares, emphasizing on his confidence in the company.

PTTEP topped the stake in “Sinphuhorm Project” with ฿2.3 billion to expand investment in Thailand.

DELTA’s 2Q19 profit dropped 37% to 872 million due to the increase in selling and admin expenses.

– The analyst estimated SET Index to soar above 1,750pts from Fed’s rate cut and dovish signal.

– “Peeraphong” asserted a rumor of capital increase was baseless, affirming a strong business.

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