On Tuesday at 11:28 AM (Bangkok time), the share price of CH. Karnchang Public Company Limited (SET: CK) increased by 2.15% or THB 0.40 to THB 19.00, with a trading value of THB 58.18 million.
Sino-Thai Engineering and Construction Public Company Limited (SET: STEC) climbed by 0.60% or THB 0.05 to THB 8.45, with a trading value of THB 19.87 million.
Krungsri Securities (KSS) highlighted in a report that the State Railway of Thailand (SRT) is gearing up to initiate a bidding process for the second phase of the Northeastern Double-track Railway project (Khon Kaen – Nong Khai) through e-bidding. The project is estimated to cost THB 28,719.94 million, with the bidding scheduled for August 20, 2024.
The analyst views this development as a positive sentiment for stocks linked to construction contracts, particularly for prominent companies involved in the first phase of the project like CK, STEC, ITD, and NWR.
In the near term, KSS advised a ‘speculative-buy’ recommendation on stocks with a solid foundation and backlog to sustain future profit growth. The consensus set a target price of THB 26.90 per share for CK and THB 9.75 per share for STEC.
