JAS Soars 13% in Anticipation of Outperforming Results in 2021
JAS soared 13% in anticipation of potential recovery in 2021 and the possibility of receiving a claim worth 4.5 billion baht.
The share price of Jasmine International Public Company Limited (JAS) rose ฿0.38/share or 12.84% to close the morning session at ฿3.34/share with a trading value of 2,223 million baht on June 14, 2021.
Capital Nomura Securities (CNS) stated that the surge in JAS’ share price was partly due to it being laggarded, coupled with the speculation in ICT sector that was expected to outperform in June and July, buoyed by positive factors such as the ADVANC-Disney contract and TRUE-Euro Football contract.
More speculations pointed out to the potential growth in 2021, turning its earnings to profit due to better operating performance and the possibility of receiving claims worth 4,500 million baht from the dispute on the Joint Venture Agreement for the Submarine Optical Fiber Cable Project (Eastcoast).
