Reuters: Hot Stocks: STOCKS NEWS THAILAND-RS surges on satelite business

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STOCKS NEWS THAILAND-RS surges on satelite business Apr 25th 2012, 04:21 Wed Apr 25, 2012 12:21am EDT Shares of entertainment firm RS Pcl climbed to their highest in eight months on expectations its satellite ventures would generate a profit this year. Broker Kiatnakin Securities said it expected a turnaround at the satellite business group, with an estimated 2012 profit of 50-60 million baht ($1.61-$1.94 million) after a net loss of 60 million baht ($1.94 million) in 2011. RS shares surged almost 12 percent to 4 baht, with around 23 million shares traded, 2.4 times its average full-day volume traded over the last 30 sessions. Kiatnakin rated the stock buy, with target price of 4.30 baht. (Reporting by Viparat Jantraprap in Bangkok; viparat.jantraprapaweth@thomsonreuters.com) ($1 = 30.97 baht)

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