TIPCO Jumps 9%, Analysts Rate “BUY” on Strong Demand for Green Chirreta Products

The share price of Tipco Foods Public Company Limited (TIPCO) rose ฿0.85/share or 9.44% to ฿9.85/share as of 11:25 a.m. local time in Thailand, with a trading value of 233 million baht.

DBS Vickers Securities (DBSVS) rates TIPCO a “BUY” following the positive response to the company’s new beverage products made with green chiretta (or fah talai jone) and other herbs. TIPCO’s stock, on the other hand, was trading at a 5x P/E with a significant dividend yield. 

Meanwhile, ASL Securities stated that the green chiretta capsules have garnered such a great response that somehow the company is unable to meet demand. Additionally, items such as turmeric extract and tamarind extract are awaiting registration and will be available for sale in the second half of the year. ASL anticipates that the herbal products business will provide 5-10% of total annual revenue in 2022 and will increase further in 2022. Thus, ASL has given a “BUY” recommendation on TIPCO.