PTTGC, NER and SCGP Give Solid Performance despite MPI Indicating Slower Growth
PTTGC, NER and SCGP are among stocks that continued to give solid performance in July through August, despite MPI indicating slower growth.
PTTGC, NER and SCGP are among stocks that continued to give solid performance in July through August, despite MPI indicating slower growth.
31 ส.ค. 2564

Thailand reported slower growth of factory output in July as the Covid-19 containment measures were imposed in late July and extended into August in high-risk areas, which covered the majority of factories in Thailand.
 
The Kingdom and other countries in Southeast Asia are struggling with the deadly virus outbreak up to date, the Covid-19 Delta variant, that led to several lockdown measures to contain the spread within the country. Thailand imposed stringent measures on the capital, Bangkok, and 28 other hotspot provinces in late July and will eventually relax the measures on September 1, 2021.
The Covid-19 outbreak that forces several businesses to halt and the lockdown measures that restricts mobility in the country resulted in slower growth of the manufacturing production index (MPI) in July to increase 5.12% from a year earlier, missing the forecast of 12% and lower than an 18.27% increase in June.
The growth in August should be even slower due to the full-month lockdown and a spike in Covid-19 cases that reached a record high of more than 23,000 cases per day.
Still, some of the stocks related to MPI were able to perform well in July and August and the slower growth in economic data.

 
PTT Global Chemical Public Company Limited (PTTGC) gained 8.02% in July and 13.27% in August. The IAA Consensus gives a target price of PTTGC at ฿73.88/share.
North East Rubber Public Company Limited (NER) gained 11.68% in July and 0.26% in August. The IAA Consensus gives a target price of NER at ฿9.19/share.
M.C.S. Steel Public Company Limited (MCS) gained 5.56% in July and 5.56% in August. The IAA Consensus gives a target price of PTTGC at ฿19.75/share.
SCG Packaging Public Company Limited (SCGP) gained 13.47% in July and 0.74% in August. The IAA Consensus gives a target price of PTTGC at ฿69.75/share.