Stocks in the news (bay, earth, mcot, ocean, noble, ratch, spcg) 24.12.13

BAY Expects merger with MUFG to strengthen — BAY expects to be stronger after merging with MUFG, bulked up by that entity’s loan and deposit portfolios. Net profit in 4Q13 is expected to touch Bt4.09bn, a 7.8% YoY increase, supported by the booking of gains from expiration of Vayupak. (Khao Hoon, 24/12/13)

BAY out of MSCI — Effective from 24 December 2013, MSCI will delete Krungsri (BAY) shares from the index due to the substantial reduction in free float. (MSCI)

Comment: This was the primary reason behind the 22% fall in BAY share price yesterday. We saw this last happen with LH, that then had a 30-40% drop over a few days, perhaps BAY could still keep going down.

EARTH Energy Earth budgets Bt3.8 bn for coal mining in Indonesia – Energy Earth has budgeted Bt3.82bn to acquire a coal-mining license in Indonesia to sustain its reserves for 10 years. (The Nation, 24/12/13)

Comment: They still never very rarely open up to investors for visits. Continue reading Stocks in the news (bay, earth, mcot, ocean, noble, ratch, spcg) 24.12.13