On Thursday at 11:03 AM (Bangkok time), the share price of B.Grimm Power Public Company Limited (SET: BGRIM) gained 4.63% or THB 1.00 to THB 22.60, with a trading value of THB 291.49 million.
Gunkul Engineering Public Company Limited (SET: GUNKUL) jumped by 3.85% or THB 0.08 to THB 2.16, with a trading value of THB 23.66 million.
Global Power Synergy Public Company Limited (SET: GPSC) soared by 3.14% or THB 1.25 to THB 41.00, with a trading value of THB 246.24 million.
Yuanta Securities stated that Thai power plant stocks surged due to the decline in US bond yields following indications from the US Federal Reserve about a potential rate cut in September.
Additionally, the positive momentum was driven by the Energy Regulatory Commission of Thailand’s plans to initiate a second round of bids totaling 3,668 megawatts for renewable energy projects. BGRIM, GPSC, and GUNKUL are seen as strong contenders for acquisition opportunities as the government has opened avenues for both existing and new private entities to submit proposals for electricity sales under specified conditions.
The analyst issued a ‘BUY’ recommendation for GPSC and BGRIM, while suggesting a ‘Trading’ recommendation for GUNKUL. The advice for investors was to hold off on investment until the company’s second-quarter 2024 earnings report was announced.
