Thai Stock Market Roundup on March 12, 2021
A short summary to inform investors of significant developments in the Thai stock market on March 12, 2021.
– SET Index closed at 1,568.19 points, decreased 6.94 points or 0.44% with a trading value of 83.9 billion baht. The analyst stated that the Thai stock market edged lower amid profit-taking after the government delayed AstraZeneca rollout due to the report of death from vaccine allergy in Europe.
The delay of vaccine jabs caused negative sentiment to the stock market, especially those that awaited the reopening such as the hotel and airlines sector.
The analyst expected SET Index to move sideways down next week, giving a support level at 1,530 points and a resistance level at 1,600 points.
– Local Institutions, Prop trade and Foreign Investors plunged SET Index by 7 points with a combined 1.1 billion baht of net sell.
– The rewriting of the Thai Constitution expected to buoy SET Index above 1,650pts as analysts recommended investors to pick laggard stocks.
– WHAUP expected EBITDA in 2021 to grow 50%, setting the target to reach 670MW production capacity with more M&A to come.
– JTS surged 221% in 2021 and about 100% in March after the business restructuring program to acquire JASTEL.
– Maybank Kim Eng has given a “BUY” recommendation on IRPC with a target price at ฿4.50/share over higher profit from olefins business in 1H21.
– JR expected to continue reaching a new high in 2021, moving forward to bid for MRT Yellow and Pink Line Phase 2, booking over 10 billion baht of backlog.
– Analysts recommended “BUY” SABINA, giving a target price of Bt25 over growing revenue from NSR.
– BGRIM stated that it is in talks with partners to develop as many as 3 major LNG gas power projects in Vietnam, which each of the projects will have generating capacity of 2,000 – 3,000 megawatts. The progression of the deal should show more clarity in 2H21.
– SA to move forward with AMC and branded residence strategy. The analyst recommended “BUY” at a target price of ฿9.20/share.
– IND signed a contract for construction supervision of pipeline laying worth 9.8 million baht.
– SINGER jumped 6% to hit an all-time high. The analysts recommended “BUY” over improving loans in 2021.
– Stocks in Focus on March 12, 2021: HMPRO (Krungsri Securities TP at ฿19.00/share) and IRPC (Maybank Kim Eng TP at ฿4.50/share).
Top 10 Most Impact Shares on March 12, 2021
