Reuters: Hot Stocks: STOCKS NEWS THAILAND-Jasmine International outpeforms index

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STOCKS NEWS THAILAND-Jasmine International outpeforms index Apr 24th 2012, 07:48 Tue Apr 24, 2012 3:48am EDT Shares in the fixed-line broadband provider, Jasmine International surged 4.9 percent to 3 baht, the highest since August 2011, outperforming a 0.57 percent rise on the main index. Trinity Securities rated the share a buy with target price at 3.72 baht, on expectations that the company's profit and revenue would continue to gain from its growing subscriber base and the government's information technology policies, which include free tablet computers for 900,000 school students. "The push for free tablets and trend in installing fixed-line broadband internet are expected to pick up in Bangkok and other provinces...Jasmine International is considered to be less affected by external pressures from offshore markets," the broker said in a research note. It also forecast the company's first quarter net profit to increase by 86 percent from the previous year to 400 million baht ($12.91 million), on hopes that the company would gain from the government's push for higher internet penetration rate in the country. 1431 (0731 GMT) (Reporting by Sinsiri Tiwutanond; sinsiri.tiwutanond.thomsonreuters.com@reuters.net) **************************************************************** STOCKS NEWS THAILAND-Citi raises Krung Thai price on strong loan growth Citigroup raised the target price for Krung Thai Bank to 19.5 baht from 18 baht with a buy rating, due to strong loan momentum and lower provisions. The country's second-largest lender reported a better-than-expected 16 percent rise in quarterly net profit on Monday as a result of loan growth, lower provisions and falling operating costs. Krung Thai shares have underperformed markets in recent weeks due to concerns about a possible capital raising. But the bank has said it did not need to raise capital in the near term. "We expect limited downside from capital increase and feel that capital risk is somewhat priced in from discount to peers...Nevertheless, we do not expect substantial downside even if there is capital call," the broker said in a research note. At 0500 GMT, shares in Krung Thai jumped 1.16 percent to 17.40 baht, while the main index rose 0.25 percent. (Reporting by Sinsiri Tiwutanond; sinsiri.tiwutanond.thomsonreuters.com@reuters.net) ($1 = 30.99 Baht) (Editing by Martin Petty) Link this Share this Digg this Email Reprints

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