Reuters: Hot Stocks: STOCKS NEWS THAILAND-Banpu pares gain after cutting sales, revenue target

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STOCKS NEWS THAILAND-Banpu pares gain after cutting sales, revenue target Jul 24th 2012, 08:44 Tue Jul 24, 2012 4:44am EDT Shares in Banpu Pcl pared their earlier gain of 1.4 percent after Thailand's top coal miner cut its 2012 coal sales and revenue targets because of a decline in prices and global economic uncertainty. Banpu shares were trading unchanged at 440 baht ($13.84). It has fallen 19 percent so far this year, underperforming the broader market's 15.8 percent gain for the year, as weak coal prices weighed on the company's earnings prospect. 1532 (0832 GMT) (Reporting by Viparat Jantraprap in Bangkok; viparat.jantraprapaweth@thomsonreuters.com) ************************************************************ 12:49 STOCKS NEWS THAILAND: Total Access rises to 1-week high after dividend plan Shares in telecoms operator Total Access Communication Pcl DTAC.BK rose to a one-week high after its higher dividend plan and amid optimism about earnings outlook. At the mid-session break of 0530 GMT, Total Access shares were up 3.45 percent at 82.5 baht, climbing at one point to 82.75 baht, outperforming telecoms peers, including Advanced Info Service Pcl ADVA.BK which was up one percent and True Corporation Pcl TRUE.BK which was unchanged. It announced an interim dividend of 2.27 baht, a 92 percent payout ratio of its earnings for the first six months and raised its dividend payout ratio to a minimum of 80 percent of net profit which will be paid on a quarterly basis. (Full Story) "This implies the firm is more confident about its long-term earnings outlook and strong cash flow," KGI Securities said in a report. The broker rated the stock 'outperform', with a target price of 100 baht, citing the prospect of earnings recovery for the second half after the company reported a 6.5 percent fall in quarterly net profit on Monday. (Full Story) "We still like DTAC as it would be the key beneficiary from the 3G licensing and it offers a high dividend yield," it said. 1237 (0537 GMT) (Reporting by Viparat Jantraprap in Bangkok; viparat.jantraprapaweth@thomsonreuters.com) ************************************************************ 11:00 STOCKS NEWS THAILAND: PTTEP near 2-month lows after Q2 disappointment Shares in Thailand's top oil and gas explorer PTT Exploration and Production Pcl PTTE.BK (PTTEP) fell to their lowest in almost two months after the company missed market expectations with a 31 percent fall in quarterly net profit. PTTEP shares were down 0.63 percent at 156.5 baht ($4.92), having hit 155 baht earlier, the lowest since June 1. The broader stock market .SETI was up 0.32 percent. "The weaker than expected result was mainly due to non-recurring expenses. In the near term, the share price weakness should be due to the weak results and its capital raising plan," broker Globlex Securities said in a research note. The broker rated the stock 'buy', with target price of 173 baht, saying the second quarter results should be the worst quarterly result for the energy firm this year and that it expected better earnings in the third quarter. For related stories click (Full Story) (Full Story) 1044 (0344 GMT) (Reporting by Viparat Jantraprap in Bangkok; viparat.jantraprapaweth@thomsonreuters.com) ($1 = 31.785 baht) Link this Share this Digg this Email Reprints

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