Kaohoon’s Top News on October 21, 2021

– IRPC said that the refinery and petrochemical business are on the rise due to a high demand for energy until next year. The company plans to increase refinery capacity to 195,000 barrels per day in the fourth quarter. Analysts anticipate a net profit of 2.1 billion baht in 3Q21, up 37% year on year.

– AAV announced a 14,000 million baht capital increase, offering 8,000 million shares at a price of 1.75 baht per share. Of which, AAV has issued 5,028 million shares through a private placement (PP) led by AAA, Amp Pithan, B from PLANB, Boy from SKY, and Pom Isuzu. Meanwhile, 1,714 million shares will be issued through a rights offering (RO) and another 1,257 million shares will be issued through the conversion of convertible bonds (CB). By the second quarter of 2022, the shareholding restructuring is expected to be completed.

– Analysts recommended the SET100’s top ten most-bought stocks by institutions, including BGRIM, BCPG, CPF, SCGP, GPSC, SCC, TQM, and SAWAD, since there is limited downside risk and the Thai market is expected to bounce back in 4Q as a result of the lockdown easing and listed companies regaining their size.

– Yesterday (October 21), the Energy Policy and Planning Office (EPPO) resolved to discontinue diesel B6 and return to diesel 3 grades B7-B10-B20 starting November 1, with a policy of freezing retail diesel prices at not exceeding 30 baht per liter. Meanwhile, the Oil Fuel Fund has only 9 billion baht remaining, requiring the preparation of additional loans of 20 billion baht to support the diesel price for the next three to four months.

– TTB reported a better-than-expected 3Q21 net profit of 2.35 billion baht, up 45.70%, as capital fund was as high as 19.7%. Meanwhile, KTB’s earnings were at 5 billion baht, up 65%. KBANK, BBL and SCB are expected to release the consolidated financial statement today (October 21).