Reuters: Hot Stocks: STOCKS NEWS THAILAND-Sahaviriya Steel falls after share sale plan, Q2 loss

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STOCKS NEWS THAILAND-Sahaviriya Steel falls after share sale plan, Q2 loss Aug 15th 2012, 03:51 Tue Aug 14, 2012 11:51pm EDT Shares in Sahaviriya Steel Industries Pcl fell as much as 3.3 percent after the company said it planned to sell new shares to raise finances, triggering concerns over dilution. The company posted a larger-than-expected net loss of 5 billion baht ($159.13 million) for the April-June quarter. It expects to continue to make a net loss this year due to an inventory loss and higher costs at its British operations. Sahaviriya Steel shares were down 1.6 percent at 0.6 baht, falling at one point to 0.59 baht, the lowest since October 2011. The broader index was down 0.41 percent. The stock was down 15.5 percent in 2012, underperforming a 19.3 percent gain of the SET index. Two out of six analysts tracking the company rated the company at 'buy', two analysts at 'hold' and two at 'strong sell', according to Thomson Reuters StarMine. For the company statement, click 1041 (0341 GMT) (Reporting by Viparat Jantraprap in Bangkok; viparat.jantraprapaweth@thomsonreuters.com) ************************************************************ 09:49 STOCKS NEWS THAILAND-CIMB raises Ratchaburi Electricity target price CIMB Research raised its target price for Ratchaburi Electricity Generating Holding Pcl RATC.BK to 54 baht from 51 baht, and kept its 'outperform' rating, after the biggest private power producer in Thailand reported better-than-expected earnings. Ratchaburi shares closed down 0.54 percent at 46.25 baht on Tuesday. They have gained 5.1 percent so far in 2012, underperforming a 19.7 percent gain in the broader SET index .SETI. "Ratch's solid second-quarter results not only reflect earnings sustainability and growth but also its shrewd investment in RATCH-Australia Corp (RAC) as it has already recovered 55 percent of its investment," the broker said. "The second-half earnings outlook remains strong on the back of a higher operating rate and RAC's contribution," it said. For the company earnings statement, click (Full Story) 0936 (0236 GMT) (Reporting by Viparat Jantraprap in Bangkok; viparat.jantraprapaweth@thomsonreuters.com) ($1 = 31.42 baht) Link this Share this Digg this Email Reprints

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