DELTA shares push the market up!!

Index 51

28 Jul 2022 05:16 a.m.

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The Thai stock index on 27 July 65 closed at 1,576.41 points, an increase of 23.23 points, with a trading value of 59,354.05 million baht. Foreigners bought a net of 2,470.34 million baht.

The highest trading value DELTA closes 474 baht, plus 106 baht, BANPU closes 13.40 baht, plus 0.30 baht, KBANK closes 146 baht, plus 1 baht, KCE closes 62.75 baht, plus 4.25 baht, TLI closes 15.20 baht, plus 0.20 baht.

Thai stock market gains strength in the afternoon

This was supported by higher-than-expected DELTA shares after reporting better-than-expected 2Q results.

In which DELTA shares alone push the overall index to more than 10 points, but if cut DELTA shares, the overall Thai stock market is still stable. Focus on DELTA shares. Report the financial statements for the 2nd quarter of 2022 with a net profit of 4.3 billion baht, an increase of 158% from the year. before and grew 53% qoq.

It was a 68% higher-than-expected net profit on US$809 million in US dollar sales, up 23% yoy and 10% qoq.

That's just $705 million higher than the previous market forecast.

Yuanta Securities sees the second half of the year 65 DELTA is likely to grow continuously, according to the company's Guidance, which said there are still strong orders.

In addition, the problem of raw material shortage will begin to return to normal again.

Making the year still maintain gross profit margin (GPM) at 23%, revised up the net profit forecast for the year 65 from 14% to 10 billion baht, growing 51%.

From last year, GPM was revised up to 23% (previously expected 22.3%) from the new baht adjustment to an average of 33.5 baht/dollar (previously 32.5 baht/dollar).

based on world trends such as 5G and EV Car

But DELTA share price is still not very high upside.

It also trades on the 65 and 66 P/E levels of 45x and 41x respectively, significantly higher than the group.

Therefore, there is not much interest in investing.

Only recommend trading

Adjust the price based on the new baseline at 424 baht from the original 375 baht.

But I think that investing in DELTA shares during this period is still not a good time because of the expensive value reflected from the 65-year P/E that is 45 times high, making it still not attractive to invest. Recommend selling!!

Index 51

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