March 29 (Shares in construction firms rallied,
outperforming the broader stock market, reflecting hopes that
the parliament would approve 2 trillion baht ($68.29 billion)
Members of the parliament are due to vote the
2-trillion-baht loan bill for infrastructure projects when the
parliament's first reading debate ends later in the day.
Shares in top contractor Italian-Thai Development Pcl
rose 4.1 percent to 7.55 baht, Sino-Thai Engineering
and Construction Pcl jumped 5.4 percent to 29.25 baht
and Ch Karnchang Pcl surged 6.4 percent to 25.75 baht.
Broker KGI Securities said its top picks were Ch Karnchang
and Sino Thai, with stock price targets of 37 baht and 40.5 baht
"As a first class contractor in every construction format
and a bidding success ratio of 20 percent, Ch Karnchang expects
to be rewarded additional works of 60 billion baht ($2.05
billion) a year during 2013-15," the broker said.
It expected Sino Thai to post a record earnings worth 1.3
billion baht ($44.39 million) this year.
1547 (0847 GMT)
($1 = 29.285 baht)
(Reporting by Viparat Jantraprap in Bangkok; Editing by Bijoy