On Thursday, the share price of B.Grimm Power Public Company Limited (SET: BGRIM) closed the morning session at THB 17.40, a THB 0.30 or 1.75% increase with a total trading value of THB 384.16 million.
Kasikorn Securities (KS) stated that the Thai market today is supported by the continuous decline in oil prices after Middle East tensions show signs of easing and as the United States and Iran prepare for a technical-level negotiation scheduled for June 30.
The research department noted that WTI oil prices have dropped below $70 per barrel, while Brent crude fell below $74 per barrel, as oil transportation through the Strait of Hormuz has become more normalized and progress is made in peace talks. These developments have alleviated concerns regarding global supply.
Analysts added that BGRIM benefits from the easing Middle East tensions, which helps lower gas cost pressures for power plants. Meanwhile, ongoing negotiations for electricity tariff adjustments with industrial clients have made significant progress, now covering around 50% of customers. This reduces cost pressure and maintains the spark spread above THB 1 per unit.
Additionally, BGRIM has long-term growth drivers from a 96-megawatt data center project, expected to commence commercial operations (COD) at the end of 2026. The 365-megawatt Nakwol Wind Farm in South Korea, which is projected for full COD in June 2026, will also boost profits significantly in the second half of the year.
