The construction services index (CONS) rose 1.39 points or 1.94% to 73.10 points at the close on Thursday as the sector has bottomed out from and is gaining momentum after COVID-19 lockdowns being lifted.
The share price of Thai Polycons Public Company Limited (SET: TPOLY) rose THB0.11/share or 5.53% to THB2.10/share, with a trading value of THB11 million.
The share price of Italian-Thai Development Public Company Limited (SET: ITD) rose THB0.08/share or 3.74% to THB2.22/share, with a trading value of THB111 million.
The share price of Sino-Thai Engineering and Construction Public Company Limited (SET: STEC) rose THB0.50/share or 3.65% to THB14.20/share, with a trading value of THB230 million.
The share price of Ch. Karnchang Development Public Company Limited (SET: CK) rose THB0.50/share or 2.33% to THB22.00/share, with a trading value of THB295 million.
The share price of Right Tunnelling Public Company Limited (SET: RT) rose THB0.06/share or 2.86% to THB2.16/share, with a trading value of THB3 million.
The share price of Nawarat Patanakarn Public Company Limited (SET: NWR) rose THB0.02/share or 1.92% to THB1.06/share, with a trading value of THB59 million.
Maybank Kim Eng Securities (Thailand) (MBKET) recommends investors to “Accumulate” CK and stocks in the construction sector since they outperformed the market and gained sentiment during the market correction.
Top Pick: CK. MBKET stated that CK will benefit from the fact that Thailand’s COVID-19 situation is improving and has already bottomed out. Moreover, there are opportunities for new government megaprojects, such as the Southern Purple Line, valued at THB78.7 billion, that comprised of six contracts, with a bid deadline oo December 27, the Western Orange Line, and MRTA’s O&M services, worth at 127 billion baht, that scheduled for auction in the first quarter of 2022. THB 22.5-23.0 is the resistance level for CK, while THB 21.8-21.5 is the support level.
