On Friday at 11:27 AM (Bangkok time), the share price of Home Product Center Public Company Limited (SET: HMPRO) jumped by 8.82% or THB 0.75 to THB 9.25, with a trading value of THB 533.88 million.
CP Axtra Public Company Limited (SET: CPAXT) soared by 4.96% or THB 1.50 to THB 31.75, with a trading value of THB 460.41 million.
Berli Jucker Public Company Limited (SET: BJC) increased by 4.19% or THB 0.90 to THB 22.40, with a trading value of THB 320.72 million.
Siam Global House Public Company Limited (SET: GLOBAL) rose by 2.80% or THB 0.40 to THB 14.70, with a trading value of THB 63.34 million.
Dohome Public Company Limited (SET: DOHOME) grew by 2.80% or THB 0.30 to THB 11.00. with a trading value of THB 35.27 million.
Kasikorn Securities (KS) anticipates a positive market sentiment for CPAXT following reports of modifications to the cash handout program, with initial disbursements now designated for vulnerable groups in cash format.
The analyst projects that recipients will likely utilize the funds for grocery purchases, indirectly benefiting CPAXT as retail stores leverage the cash handouts to acquire inventory.
Additionally, CPAXT’s 2Q24 earnings stood at THB 2.2 billion, marking a robust 43.5% year-on-year increase but reflecting a modest 12.3% sequential decline.
Krungsri Securities (KSS) highlighted that the adjustment in the cash handout scheme may yield indirect advantages for CPAXT through small-scale retailers. The analyst has set a 2025 target price of THB 40 per share for the company.
In the latest updates, it has been reported that the launch of the THB 10,000 cash handout program is slated to commence by September 2024. The initial phase will involve disbursements to 14.5 million eligible citizens categorized under the vulnerable groups, utilizing the FY2024 budget allocation.
Subsequently, the remaining 30 million registrants will receive their funds once the government transitions to utilizing the FY2025 budget, beginning in October 2024.
