As of 11.45 hrs. local time in Thailand, the share price of Osotspa Pcl. (SET: OSP) rose THB1.00/share, or 3.01% to THB34.25/share, with a trading value of THB223 million.
The share price of Carabao Group Pcl. (SET: CBG) rose THB2.00/share, or 1.89% to THB108.00/share, with a trading value of THB519 million.
Maybank Securities (Thailand) (MST) stated that today’s uptick in the share prices of CBG and OSP reflected an expectation that the sales of goods will gradually return following Thailand’s reopening, leading to stronger domestic consumption and exports.
In addition, aluminum cans are used for both CBG and OSP. Aluminum prices surged rapidly last year, putting pressure on profit margins. Currently, however, aluminum prices have fallen, resulting in a steep decline in expenses. This should have a beneficial impact on earnings for 3Q22.
MST recommends a “BUY” rating on OSP (TP: THB41.00) and CBG.