Shares in Thailand’s Advanced Info Service Pcl rose as much as 4 percent to 287 baht with 1.6 billion shares changing hands by 0523 GMT, making it the second most actively traded stock on the SET index. The broader SET index is up 0.44 percent.
DBS Vickers Securities, which has a “buy” rating on the stock and a price target of 335 baht, says the telecommunication service provider’s plan to provide high-speed broadband with the use of “Wired Broadband” service will create synergies to its business by expanding a fibre-optic network throughout Thailand.
The technology will offer faster speed and greater reliability at a higher bandwidth capacity throughout Thailand.
The research house says it expects AIS’s 2013 profit to grow at 19 percent this year and 24 percent by 2014, with an attractive dividend offer. 1226 (0524 GMT) (Reporting by Pairat Temphairojana; Editing by Supriya Kurane)