BPP-BANPU Jump 3% in Response to Thailand’s Ambition to Achieve 100% EV by 2035

The share price of BPP and BANPU rose 3% in the morning session on March 26, 2021, in response to the new ambitious aim to achieve 100% electric cars in Thailand by 2035. 

 

Banpu Power Public Company Limited (BPP)’s share price expanded ฿0.50/share or 2.53% to ฿20.30/share with a trading value of 499 million baht.

 

Banpu Public Company Limited (BANPU)’s share price expanded ฿0.40/share or 3.31% to ฿12.50/share with a trading value of 974 million baht.

 

Asia Wealth Securities (AWS) chose BPP and GPSC as Top Picks in the energy sector to obtain benefit from EV CAR Thailand 2035 measure as their core businesses focus on EV and battery production.  Additionally, BPP, as a 50% stake owner of Banpu NEXT, is expected to book a significant gain from this investment, thus, AWS recommended “BUY” with a target price of ฿21.80/share.