Head of Research, Krungthai XSpring

Waraporn Wiboonkanarak

Head of Research

A full service Thai brokerage

Krungthai XSpring

Krungthai XSpring is a full service broker. The company provides a wide range of investment services such as Securities Brokerage, Derivative Agent Business, Securities Borrowing and Lending, Securities Trading, Underwriting, Financial Advisory, Wealth Advisory, Private Fund Management and International Markets Securities Trading. 

In terms of credibility, Fitch Ratings has assigned Krunghtai XSpring a long-term rating of AA- and a national short-term rating of F1+ with stable outlook.

Thematic (Sector/Industry)

<ul><li>The surge in the Dow Jones lifted sentiment across Asian bourses, but the SET continued to trade within a narrow range.</li><li>The index attempted to rebound but later retreated amid thin trading volume and a lack of new positive catalysts.</li><li>We therefore continue to expect the index to move sideways to slightly upward.</li></ul>

The surge in the Dow Jones lifted sentiment across Asian bourses, but the SET continued to trade within a narrow range.The index attempted to rebound but later retreated amid thin trading volume and a lack of new positive catalysts.We therefore continue to expect the index to move sideways to slightly upward.

Krungthai XSpring Technical Eng. December 15, 2025

Market & Forensics Analyst, Beat the Street

Nimish Maheshwari

Market & Forensics Analyst

Beat the Street

Beat The Street was founded by Nimish Maheshwari and Sudarshan Bhandari, both of whom are Chartered Accountants by Profession, known for their expert analysis in the fields of Business, Sectoral analysis, and Corporate governance.

With a strong social media presence of 45,000+ Subscribers across various platforms, they are considered trusted voices in the industry. Their insights and analysis have been featured in some of India’s most prominent publications, including the Economic Times, Dalal Street Investment Journal, The Morning Context, and The Ken.

Their analysis on Bankrupt & Insolvent companies has been instrumental in saving investors from significant losses. They have a keen eye for identifying red flags and has identified exclusive redflags earlier in Vedanta, Nykaa, Dhani Services, Adani and many more.

Read Business Not Stock Prices

Event-Driven

<ul>
<li>
<a href="https://www.smartkarma.com/entities/delta-corp-ltd" target="_blank" data-smartkarma-citation="entities:4627:1" rel="noopener">Delta Corp Ltd (DELTA IN)</a> announced a demerger to separate its Hospitality &amp; Real Estate businesses from its GST-challenged Casino business. Additionally, it is divesting its online gaming business.</li>
<li>The hospitality business plans to add 450 new rooms and the company owns a 100-acre land parcel near Moga Airport, which holds significant growth potential.</li>
<li>The demerger will leave tax liability with the main company, while the demerged business, accounting for only 6% of revenue, will operate with focused execution and independent decision-making.</li>
</ul>



Delta Corp Ltd (DELTA IN) announced a demerger to separate its Hospitality &amp; Real Estate businesses from its GST-challenged Casino business. Additionally, it is divesting its online gaming business.
The hospitality business plans to add 450 new rooms and the company owns a 100-acre land parcel near Moga Airport, which holds significant growth potential.
The demerger will leave tax liability with the main company, while the demerged business, accounting for only 6% of revenue, will operate with focused execution and independent decision-making.


Event Driven: Delta Corp Demerger~ Separation Of Core Business From Problems

<ul><li>Although the market lacked supporting catalysts and investors awaited the upcoming Fed meeting — along with a market holiday — the SET still managed to rebound and stay in positive territory throughout the day.</li><li>The index rebounded from the 1,260-point support level, reinforcing the strength of the 1,260–1,250 support zone and signaling potential for a continued move toward the 1,300-point level.</li><li>We expect the index to continue rising, though the upside may remain limited until trading volume becomes more substantial.</li></ul>

Although the market lacked supporting catalysts and investors awaited the upcoming Fed meeting — along with a market holiday — the SET still managed to rebound and stay in positive territory throughout the day.The index rebounded from the 1,260-point support level, reinforcing the strength of the 1,260–1,250 support zone and signaling potential for a continued move toward the 1,300-point level.We expect the index to continue rising, though the upside may remain limited until trading volume becomes more substantial.

Krungthai XSpring Technical Eng. December 11, 2025

<ul><li>The SET Index is expected to trade sideways or sideway down today, with the support at 1,260/1,250 points and the resistance at 1,271/1,285 points.</li><li>China’s exports to the US continued to contract sharply at –28.5% YoY in November, compared with –25% YoY in October.</li><li>The market may be more concerned about the risk of potential US trade pressure.</li></ul>

The SET Index is expected to trade sideways or sideway down today, with the support at 1,260/1,250 points and the resistance at 1,271/1,285 points.China’s exports to the US continued to contract sharply at –28.5% YoY in November, compared with –25% YoY in October.The market may be more concerned about the risk of potential US trade pressure.

Krungthai XSpring Zoom Eng. December 9, 2025

<ul><li>The SET initially attempted to rebound but later reversed as DELTA, banking, and energy stocks declined, while AOT held steady.</li><li>The index pulled back toward the support at 1,260 and 1,250 points.</li><li>We expect the 1,260–1,250 support zone to continue providing a base for rebounds.</li></ul>

The SET initially attempted to rebound but later reversed as DELTA, banking, and energy stocks declined, while AOT held steady.The index pulled back toward the support at 1,260 and 1,250 points.We expect the 1,260–1,250 support zone to continue providing a base for rebounds.

Krungthai XSpring Technical Eng. December 9, 2025

India

Delta Corp Limited a diversified business group having a presence in the entertainment and gaming, real estate business in India and Kenya. The Company's business includes offshore casinos, and real estate consulting & development.

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Delta Corp Ltd (DELTA IN)

Krungthai XSpring Technical Eng. December 15, 2025

The index attempted to rebound but later retreated amid thin trading volume and a lack of new positive catalysts.We therefore continue to expect...

Krungthai XSpring

Event Driven: Delta Corp Demerger~ Separation Of Core Business From Problems

Delta Corp Ltd announced demerger to separate Hospitality & Real Estate from Casino business, divesting online gaming. Demerged business to...

Nimish Maheshwari

Krungthai XSpring Technical Eng. December 11, 2025

The index rebounded from the 1,260-point support level, reinforcing the strength of the 1,260–1,250 support zone and signaling potential for a...

Krungthai XSpring

Krungthai XSpring Zoom Eng. December 9, 2025

The SET Index is expected to trade sideways or sideway down today, with the support at 1,260/1,250 points and the resistance at 1,271/1,285 points.

Krungthai XSpring

Krungthai XSpring Technical Eng. December 9, 2025

The SET initially attempted to rebound but later reversed as DELTA, banking, and energy stocks declined, while AOT held steady.

Krungthai XSpring

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Krungthai XSpring Technical Eng. December 15, 2025

The index attempted to rebound but later retreated amid thin trading volume and a lack of new positive catalysts.We therefore continue to expect...

Krungthai XSpring

Event Driven: Delta Corp Demerger~ Separation Of Core Business From Problems

​Delta Corp Ltd announced demerger to separate Hospitality & Real Estate from Casino business, divesting online gaming. Demerged business to...

Nimish Maheshwari

Krungthai XSpring Technical Eng. December 11, 2025

The index rebounded from the 1,260-point support level, reinforcing the strength of the 1,260–1,250 support zone and signaling potential for a...

Krungthai XSpring

Krungthai XSpring Zoom Eng. December 9, 2025

The SET Index is expected to trade sideways or sideway down today, with the support at 1,260/1,250 points and the resistance at 1,271/1,285 points.

Krungthai XSpring

Krungthai XSpring Technical Eng. December 9, 2025

The SET initially attempted to rebound but later reversed as DELTA, banking, and energy stocks declined, while AOT held steady.

Krungthai XSpring

Delta Corp Ltd announced demerger to separate Hospitality & Real Estate from Casino business, divesting online gaming. Demerged business to...