AGE-LANNA-BANPU Rally as Coal Prices Touch a New Record High
Three coal stocks booked a gain in the morning session on Tuesday as coal prices touched a fresh record high of US$200
Coal stocks booked a gain in the morning session on Tuesday, September 28, 2021, as coal prices touched a fresh record high of US$200.
As of 11:27 local time in Thailand, the share price of Asia Green Energy Public Company Limited (AGE) rose ฿0.20/share or 6.99% to ฿3.06/share, with a trading value of 48 million baht.
The Lanna Resources Public Company Limited (LANNA) rose ฿0.70/share or 2.93% to ฿24.60/share, with a trading value of 131 million baht.
BANPU Public Company Limited (BANPU) rose ฿0.30/share or 2.38% to ฿12.90/share, with a trading value of 1,369 million baht.
DBS Vickers Securities said that as Newcastle Coal Futures surged to US$204.75/ton, up 7% to a new record, it could result in speculation on the stocks such as BANPU, LANNA and TCC.
Asia Plus Securities stated that coal prices have reached new highs is a positive sign for stocks in the coal sector, setting a target price of 10.50 baht on BANPU and recommending a “Speculative-Buy” on LANNA.