×

STOCKS NEWS THAILAND-TPI Polene at 5-month highs

Shares in TPI Polene Pcl rose 6.8 percent to 14.1 baht, climbing at one point to 14.5 baht, their highest since May 3, following positive management guidance on cement prices.

The company expected higher cement selling prices in October and November, boding well for its earnings for the period, director and founder Prachai Leophairatana told Reuters.

TPI Polene shares have risen 21.9 percent so far from their recent low of 11.4 baht on August 31, outperforming peer Siam City Cement , which was up 13.2 percent in the same period and a 6.7 percent gain of the broader SET index .

The stock lost 18.3 percent in the second quarter ended June, after the company reported a quarterly net loss of 291 million baht ($9.48 million) versus the previous year's 1.7 billion baht net profit. The company said the net loss was due to foreign exchange loss and loss from disposal of investment.

For the company statement, click

(Reporting by Viparat Jantraprap in Bangkok; viparat.jantraprapaweth@thomsonreuters.com); Editing by Jijo Jacob

Keywords: MARKETS THAILAND STOCKSNEWS/