KTC Jumps 6% to ฿34.50/share, Welcoming Nano and Pico Finance Licenses!
When the acquisition of license of nano finance and pico finance of KTC is around the corner, the share price has responded to the positive sentiment with a high jump for two straight days.
The share price of Krungthai Card Public Company Limited (KTC) rose dramatically for two straight days after the company has penetrated into nano finance and pico finance, which expects operating licenses for this two business in March and April, respectively.
To spice things up for KTC is the announcement of Cabinet on approving to extend credit limit of pico finance to THB 100,000 from THB 50,000, which will potentially lower the amount of informal debt in Thailand. In addition, the first THB 50,000 loan portion will be charged at 36% annual interest rate and the remaining THB 50,000 will be charged at 28%.
Moreover, the Board of Directors of KTC has proposed a cash dividend payment to be paid on April 30, 2019 at ฿0.82/share, with an ex-dividend date on April 12, 2019.
Upon checking IAA Consensus Target Price of KTC, the medium target price is ฿38.65/share. 9 out of 12 brokers recommend BUY at a target price as high as 45.00/share while 3 brokers suggest HOLD.
KTC closed the morning session on March 20, 2019 at ฿34.50/share, jumped ฿2.00/share or 6.15% with ฿872 million in value. The highest of the session was ฿35.00/share while the lowest was ฿32.50/share.