SET warns stock investors over Delta shares

SET warns stock investors over Delta shares

Investors monitor an electronic display of stock indices. (File photo)
Investors monitor an electronic display of stock indices. (File photo)

The Stock Exchange of Thailand (SET) has issued a statement warning investors to exercise caution when trading shares of Delta Electronics Plc (Delta) after the price surged for three consecutive days to reach its all time high of more than 1,100 baht apiece on Friday.

The statement notifies investors that the SET has continuously monitored the trading of Delta shares and found that prices rose to more than 1,100 baht on Thursday, with the highest trading value on the Thai bourse on that day at 5.87 billion baht. The statement also adds that Delta’s price-earnings ratio (P/E) and price-to-book ratio (P/BV) were 89.42 and 25.09, respectively, as of Thursday.

Thailand’s leading electronic component manufacturer, Delta, saw a rise in prices of 2.86% and 9.34% on Wednesday and Thursday, respectively. The prices continued to soar on Friday, rising 3.09% to 1,134 baht by midday.

After the market closed on Thursday, the company said via the SET’s information system, as requested, that “the company has not had any significant change or developments that have not been disclosed,” the SET pointed out.

The SET would like to ask investors to look into Delta’s fundamentals, risks, and information disclosed by the company, as well as analysis from securities firms before making a decision to buy or sell the shares,” the bourse added.

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