Reuters: Hot Stocks: STOCKS NEWS THAILAND-Brokers upbeat on Indorama after acquisitions

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STOCKS NEWS THAILAND-Brokers upbeat on Indorama after acquisitions Apr 5th 2012, 05:52 Thu Apr 5, 2012 1:52am EDT Shares in the country's biggest polyester producer Indorama Ventures Pcl climbed 1.37 percent to 37 baht at one point after its acquisitions of U.S. businesses, the move which analysts said would boost its future revenue. Broker Kiatnakin Securities advised investors to buy the stock, citing the acquisitions which would contribute revenue to the company from the second quarter. Shares in coal mining firms fell, with the biggest Banpu Pcl falling as much as 1.7 percent to 594 baht, the lowest since Feb. 1, following Indonesia's plans to impose export taxes on coal and base metals. Lanna Resources Pcl dropped 1.8 percent to 27.75 baht. Broker Finansia Syrus Securities said the news weighed on sentiment in the coal miners, including Banpu which owns 65 percent of Indonesian coal miner Indo Tambangraya Megah . The broader market fell 0.69 percent to 1,190.15, amid weakness elsewhere in Asia due to concerns about euro zone debt problems.

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