A Selloff in Alternative-Energy Stocks Drags SET to Close 21pts Lower

Today (March 11) a Public Health Emergency Operations Centre (PHEOC), the Ministry of Public Health has reported an additional 6 confirmed cases, including 4 Thai men, 1 Thai woman and 1 Singaporean man, leading the total number of infections to 59 cases.

Following the the current situation, SET closed at 1,249.89 points, decreased 21.36 points or 1.68% with a trading value of ฿72.1 billion as well as those power plant equities that were pressured by selloff and all today closed at red zone.

The stock price of Gulf Energy Development Public Company Limited (GULF) closed at ฿151.50/share dropped by ฿17/share or 10.09%. The highest price was ฿168.50/share and the lowest price was ฿149/share. The total trading value was ฿3,338 million. 

B.Grimm Power Public Company Limited (BGRIM)’s stock of today completed with ฿37.50/share decreased by ฿5.75/share or 13.29%. The highest price was ฿44/share and the lowest price was ฿36/share with the trading value of ฿1,958 million.

The share price of Global Power Synergy Public Company Limited (GPSC) closed at ฿57.25/share fell by ฿5.25/share or 8.40%. The highest price was ฿62.50/share and the lowest price was ฿56.50/share. The total transaction of today trading was ฿1,778 million.

Energy Absolute Public Company Limited (EA)’s equity price closed at ฿36.25/share dripped ฿2/share or 5.23%. The highest price was ฿38.50/share and the lowest price was ฿35.25/share with the trading value of ฿750.449 million.    

While Electricity Generating Public Company Limited (EGCO)’s share closed at ฿234/share dropped ฿7/share or 2.90%. The highest price was ฿241/share and the lowest price was ฿200/share and the total trading value was ฿604.866 million. 

KGI Securities (Thailand) pointed out on the analysis in regard to the Cabinet Meeting on March 10, the Government has acknowledged a stimulus measure proposing by Ministry of Power that offered to lower electricity bills for the general public in a percentage of 3 for 3 month to help those people who would be affected from the virus spreading and the drought, KGI saw that the new policy would create a negative impact, especially greater impact for GPSC and BGRIM as both companies have a significant proportion of customer bases.