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.

Index Rebalance

PTT Exploration & Production / Index Rebalance

<ul><li>The SET Index is expected to weaken, with the support at 1,388/1,380 points (50-day EMA/10-day EMA) and the resistance at 1,400/1,405 points.</li><li>As for the big technical picture, there is a positive sign for the index, with the potential to move up to test the resistance at 1,405/1,416 points after yesterday managing to surpass the key resistance at 1,388 points for the first day.</li><li>However, today the index is at risk of falling to test the support at the 50-day EMA again, given that foreign investors may return to being net sellers owing to the impact of the FTSE Index rebalancing (four Thai stocks have been removed from the large cap list, and five have been removed from the small cap list).</li></ul>

The SET Index is expected to weaken, with the support at 1,388/1,380 points (50-day EMA/10-day EMA) and the resistance at 1,400/1,405 points.As for the big technical picture, there is a positive sign for the index, with the potential to move up to test the resistance at 1,405/1,416 points after yesterday managing to surpass the key resistance at 1,388 points for the first day.However, today the index is at risk of falling to test the support at the 50-day EMA again, given that foreign investors may return to being net sellers owing to the impact of the FTSE Index rebalancing (four Thai stocks have been removed from the large cap list, and five have been removed from the small cap list).

Keep a Close Watch on the FTSE Rebalancing

Independent research on the U.S. markets, Baptista Research

Baptista Research

Independent research on the U.S. markets

Baptista Research is an independent financial research house focused on the U.S. markets. We provide equity research as well as credit research reports on the top-listed U.S. companies with most of our focus on technology, consumer goods and services, automobiles, industrials, oil and gas, pharma, and healthcare. Our research has served more than 3000 institutional investors including mutual funds, hedge funds, banks, family offices, and various buy-side firms. We operate a research subscription service where institutions, as well as retail investors, can have priority access to all our research. We also have a wide distribution of our research reports across some of the top global financial platforms. Apart from equity research and credit research, we also provide advisory services with respect to mergers & acquisitions (M&A), private equity/ venture capital fundraising, valuation reports, and investment management services for corporates.
Baptista Research is owned and managed by Ishan Majumdar, an ex-Venture Capitalist/ Investment Banker, a Chartered Accountant, and a Masters’ degree holder in Management from HEC Paris. Ishan has nearly a decade of experience in Mergers and Acquisitions, Leveraged Buyouts (LBOs), Venture Capital Investing, Corporate Strategy, and Valuation in front-office roles at the likes of BNP Paribas CIB, Credit Agricole CIB, Groupe Danone, and TIW Private Equity. He has worked on and closed multiple acquisition deals, leveraged buyouts, and start-up investment transactions.

Equity Bottom-Up

<ul><li>Ecolab Inc., during their latest earnings, highlighted strong growth in their fourth quarter performance for 2023, solidifying a favorable year for the company.</li><li>Despite unstable macroeconomic conditions, the team drove value-based pricing while consistently maintaining strong business momentum.</li><li>Their success arose from creating value for customers by enhancing operational performance, as well as reducing water and energy consumption.</li></ul>

Ecolab Inc., during their latest earnings, highlighted strong growth in their fourth quarter performance for 2023, solidifying a favorable year for the company.Despite unstable macroeconomic conditions, the team drove value-based pricing while consistently maintaining strong business momentum.Their success arose from creating value for customers by enhancing operational performance, as well as reducing water and energy consumption.

Ecolab Inc: Successful Pricing Initiatives and Delivered Product Costs (DPC) Management! - Major Drivers

<ul><li>Ecolab delivered a mixed result in the recent quarter, with revenues below market expectations, but it managed to surpass the analyst consensus in terms of earnings.</li><li>The company's performance was marked by a 7% organic sales growth and an 18% surge in adjusted earnings per share, reaching the high end of expectations.</li><li>Despite unpredictable macro conditions, the company demonstrated exceptional execution, achieving strong pricing, new business gains, accelerated volume trends, and continued robust margin expansion.</li></ul>

Ecolab delivered a mixed result in the recent quarter, with revenues below market expectations, but it managed to surpass the analyst consensus in terms of earnings.The company's performance was marked by a 7% organic sales growth and an 18% surge in adjusted earnings per share, reaching the high end of expectations.Despite unpredictable macro conditions, the company demonstrated exceptional execution, achieving strong pricing, new business gains, accelerated volume trends, and continued robust margin expansion.

Ecolab Inc.: Unexpected Earnings: A Sign of Resilience in Tough Times! - Major Drivers

<ul><li>Ecolab delivered a mixed set of results in its most recent result, with revenues falling short of Wall Street expectations but above-par earnings.</li><li>The company's effective execution and easing inflationary pressures contributed to reaching the upper end of its projected Q2 earnings growth range.</li><li>In this report, we have carried out a fundamental analysis of the historical financial statements of the company.</li></ul>

Ecolab delivered a mixed set of results in its most recent result, with revenues falling short of Wall Street expectations but above-par earnings.The company's effective execution and easing inflationary pressures contributed to reaching the upper end of its projected Q2 earnings growth range.In this report, we have carried out a fundamental analysis of the historical financial statements of the company.

Ecolab Inc.: Does It Have Any Kind Of Sustainable Competitive Advantage? - Major Drivers

<ul><li>Ecolab performed well in the third quarter and managed an all-around beat.</li><li>In the quarter, margins expanded significantly.</li><li>Organic sales had a solid improvement across all segments, increasing from 12% in the fourth quarter to 13% in the first.</li></ul>

Ecolab performed well in the third quarter and managed an all-around beat.In the quarter, margins expanded significantly.Organic sales had a solid improvement across all segments, increasing from 12% in the fourth quarter to 13% in the first.

Ecolab Inc.: Improved Data Visibility For Water & Other Drivers

United States

Ecolab Inc. is a global provider of water, hygiene, and energy technologies and services for customers in foodservice, food processing, hospitality, healthcare, industrial, and oil and gas markets. The Company's services include water treatments, cleaning and sanitizing solutions, pest elimination, and kitchen repair and maintenance services.

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Ecolab Inc (ECL US)

Keep a Close Watch on the FTSE Rebalancing

The SET Index is expected to weaken, with the support at 1,388/1,380 points (50-day EMA/10-day EMA) and the resistance at 1,400/1,405 points. As...

Krungthai XSpring

Ecolab Inc: Successful Pricing Initiatives and Delivered Product Costs (DPC) Management! - Major Drivers

Ecolab Inc., during their latest earnings, highlighted strong growth in their fourth quarter performance for 2023, solidifying a favorable year...

Baptista Research

Ecolab Inc.: Unexpected Earnings: A Sign of Resilience in Tough Times! - Major Drivers

Ecolab delivered a mixed result in the recent quarter, with revenues below market expectations, but it managed to surpass the analyst consensus in...

Baptista Research

Ecolab Inc.: Does It Have Any Kind Of Sustainable Competitive Advantage? - Major Drivers

Ecolab delivered a mixed set of results in its most recent result, with revenues falling short of Wall Street expectations but above-par...

Baptista Research

Ecolab Inc.: Improved Data Visibility For Water & Other Drivers

Ecolab performed well in the third quarter and managed an all-around beat. In the quarter, margins expanded significantly. Organic sales had a...

Baptista Research

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