On Friday at 10:27 AM (Bangkok time), the share price of Indorama Ventures Public Company Limited (SET: IVL) rose by 2.47% or THB 0.60 to THB 24.90, with a trading value of THB 378.26 million.
Krungsri Securities (KSS) anticipates the forthcoming MSCI Rebalance, which is set to reveal the inclusion and exclusion of stocks on November 6, with implementation slated for November 26, 2024, potentially resulting in heightened significance for Thai stocks. The surge in share prices for IVL is believed to be linked to the strong likelihood of the company being added to the MSCI Global Standard Index.
The analyst gives IVL a ‘Speculative-Buy’ rating with a strategic price of THB 34 per share.
Additionally, Krungsri Securities has forecasted changes in the SET50 and SET100 indexes for the first half of 2025, using data as of the end of September. Stocks anticipated to enter the SET50 include Banpu Public Company Limited (SET: BANPU), Srisawad Corporation Public Company Limited (SET: SAWAD), COM7 Public Company Limited (SET: COM7), and Thanachart Capital Public Company Limited (SET: TCAP), with respective probabilities of 90% for the first three and 70% for TCAP.
Conversely, stocks projected to exit the SET50 include Bangchak Corporation Public Company Limited (SET: BCP), Ngern Tid Lor Public Company Limited (SET: TIDLOR), Central Plaza Hotel Public Company Limited (SET: CENTEL), and Energy Absolute Public Company Limited (SET: EA), with EA having a 100% chance of removal.
For the SET100, expected entrants are Cal-Comp Electronics (Thailand) Public Company Limited (SET: CCET), Thai Coconut Public Company Limited (SET: COCOCO), and Jasmine Technology Solution Public Company Limited (SET: JTS), with entrance probabilities of 90% and 70%, respectively for the last two.
Stocks anticipated to leave the SET100 include Tipco Asphalt Public Company Limited (SET: TIPH), MBK Public Company Limited (SET: MBK), and R&B Food Supply Public Company Limited (SET: RBF), with RBF having a 100% likelihood of exit.
Mr. Sorrapol Tulayasathien, Deputy Manager and Head of Corporate Strategy Planning at the Stock Exchange of Thailand (SET), noted the strong possibility of MSCI increasing the weight of Thai stocks. Historically, the number of companies and weighting in MSCI has declined, primarily due to the rise of larger economies like India and recent downturns in the Thai index. However, with Thai stocks currently experiencing an uptrend, the likelihood of more Thai companies being included in MSCI indexes is increasing, aligning with broader index trends.
