DELTA and BJC rose following factors related to the preparation of the new criteria of the Stock Exchange of Thailand (SET) that made it possible to return to the SET50.
At 10.08 a.m. DELTA plus 4.63% or an increase of 24.00 baht to 542.00 baht, the transaction value 584.26 million baht from the opening price of 520.00 baht, the highest price 544.00 baht, the lowest price 520.20 baht.
As for BJC, plus 2.92% or an increase of 1.00 baht to 35.25 baht, the trading value is 115.74 million baht.
ASL Securities stated in the analysis that The Stock Exchange of Thailand (SET) is open for comments on the improvement of the SET50 and SET100 indexing criteria. The current market in which large cap stocks have a declining turnover trend allows large, less liquid stocks such as DELTA and BJC to return to the SET50.
While SBI Thai Online Securities stated in the analysis that BJC is one of the major retail operators. It is expected to be driven by the easing of the Covid-19 epidemic and the recovery of the domestic economy. This will help BJC’s earnings to continue to recover after this. with a target price of 39.52 baht
BJC reported 2Q22 net profit of 1.2 billion baht, an increase of 46%YoY, driven by revenue from BigC that grew 10% YoY from new store expansion and continued recovery in same-store sales (SSSG). Growth of 5.2% YoY, sales of packaging segment grew 24% YoY, driven by continued recovery in sales in Thailand and Vietnam. and price increases to compensate for rising raw material costs and rental income grew 10% YoY due to an increase in the number of tenants. and less rent discount due to economic recovery
BJC has targeted 2025 revenue growth of 10-15% YoY from sales in the retail business. Consumer products And the packaging group has continued to recover after the Covid-19 unfold and the opening of the country that has increased domestic spending. BJC places a 65-year investment budget of 10-11 billion baht, focusing on the expansion of new BigC branches and investment in Additional packaging business
On the technical side, the short-term price recovered through the upper sideway successfully with a signal supported by the MACD. The short-term may rest. But if it hasn’t dropped, 33.75 returns to the original frame. The price has a chance to recover to 35.50, but if it slips out of 33.75, cut the loss to 33 as a re-entry point.