Reuters: Hot Stocks: STOCKS NEWS THAILAND-Italian-Thai, Ch Karnchang up on new contract hopes

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STOCKS NEWS THAILAND-Italian-Thai, Ch Karnchang up on new contract hopes Sep 5th 2012, 05:19 Wed Sep 5, 2012 1:19am EDT Shares in construction companies Italian-Thai Development Pcl and Ch Karnchang Pcl each rose to their highest in around four months as they were viewed as the potential winners of a new extension line of Bangkok's mass transit project. Italian-Thai shares were up 1.1 percent at 3.62 baht, the highest since May 4, while Ch Karnchang shares gained 2.7 percent to 7.7 baht, the highest since May 9. The broader SET index edged down 0.09 percent. The government's transport unit has scheduled to open the bidding envelopes for a 'Red Line' contract 2 later in the day. Brokers said the market expects Italian Thai and Ch Karnchang to be among builders more eligible to win. (Reporting by Viparat Jantraprap in Bangkok; viparat.jantraprapaweth@thomsonreuters.com)

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