BGRIM led the power plant group to receive the factor of lower oil prices at 10.07 a.m.
- BGRIM increased 2.86% or increased 1.00 baht to 36.00 baht, trading value 175.57 million baht.
- GPSC increased 1.94% or increased 1.25 baht to 65.75 baht, trading value 127.04 million baht.
- GULF rose 0.54% or 0.25 baht to 46.75 baht, trading value 105.06 million baht.
Mr. Nattapon Kamtha Krua, Director of Securities Analysis Department of Yuanta Securities (Thailand), said that the share price of the power plant group which is a group Anti-Commodity Today’s recovery has benefited from lower oil prices. WTI crude for August delivery (June 30) fell $4.02, or 3.7 percent, to close at $105.76 a barrel. In addition, US Treasury yields also dropped below 3%. However, the performance of the power plants in 2Q22 was not good.
Nomura Securities Pattanasin stated in the analysis that B. Grimm Power Public Company Limited (BGRIM) expects 2Q22 normalized profit to decline yy from GPM, lower IU sales of electricity due to higher gas costs, but recovers qq from a low base, increasing in line with an increase. Government Ft 23 satang/kWh, estimating a 65 profit of 1,279 million baht (-44%yy) from high gas costs. But expected to recover high +105%yy to 2,618 million baht in 66, but the share price reflects the impact of gas costs that have already increased considerably, with PER23F at 35 times
The anti-commodity group is getting interesting, with the latest Natural gas future price -17%dd and starting to see signs of lower oil prices.
While the analysis of Land and Houses Securities said utilities are considered a good bunker in the recession, Q3/22 pressures on energy costs are expected to decrease. The power plant group has entered a period of high growth. The private power plants including IPP, SPP, Solar and Wind Farm will begin commercial operation.
By InfoQuest News Agency (01 Jul 65)