Kaohoon’s Top News on October 29, 2020

Top news from Kaohoon Turakij Newspaper to start the trading day on October 29, 2020.

SCGP dropped lower than its IPO price, closing at 34.25/share on yesterday’s trading session after the provision from greenshoe option unable to sustain the selloff from investors as the company reported a lower than expected 3Q profit of 1.3 billion baht. Mr. Wichan Jitpukdee, SCGP’s CEO, stated that the business has strong fundamentals and expected next year’s revenue to reach 100 billion baht in response to the expansion of another four projects within 3Q21.

NRF was confident that the 2020 revenue would come in around 15-20% as projected, while the 2H20 performance would be much better than the first half due to higher demand and overflow orders until the middle of next year. The analyst recommended “BUY” at a target price of ฿5.75/share.

– Rubber-related stocks edged higher in response to higher rubber prices. The analyst recommended “BUY” STA at a target price of 41.00/share, expecting 4,600 million baht of net profit this year. Meanwhile, the analyst also recommended “BUY” NER at a target price of 5.00/share, expecting 853 million baht of net profit this year.

SFT, a labelling solutions services company, to debut its first trading day in the Market of Alternative Investment (mai) today and expected the share price to surge higher than its IPO price at ฿3.80/share. The company planned to further its investment in a new production line up.

– Mr. Vanarat Tangkaravakoon, major shareholder of STARK, dropped 2,250 million shares in a big lot transaction at a price of ฿1.40/share to Proprietary Trading and Institutional Investors to resolve the free float issue and booked 1,800 million baht of profit from the transaction.