Asia Pac ECM and Index Rebal, Shenton Research

Ke Yan, CFA, FRM

Asia Pac ECM and Index Rebal

Asia Pac IPO & Placement Research, China Biotech

DZT Research

DZT Research is an independent Asia Pacific equity specialist. Our quantitative research covers index rebalancing flows, alongside exchange data analytics accross Asia Pacific. On the equity capital markets side, we focus on Asia Pacific ECM, especially biotech and TMT. Our lead analyst is frequently cited by international media.

Quantitative Analysis

<ul>
<li>We analyzed the changes in short interest of Stock Exchange of Thailand as of Mar 28th.We estimate that they had an aggregated short interest worth USD0.8bn.</li>
<li>We tabulate league table for top short by value and short as multiple of ADT, as well as weekly increases &amp; decreases in short value, short as multiple of ADT.</li>
<li>We highlight short interest changes in CP AXTRA NVDR, Thai Oil, Central Pattana, Indorama Ventures, PTT E&amp;P, Airports of Thailand, Kasikornbank, Bangkok Bank, CP ALL.</li>
</ul>


We analyzed the changes in short interest of Stock Exchange of Thailand as of Mar 28th.We estimate that they had an aggregated short interest worth USD0.8bn.
We tabulate league table for top short by value and short as multiple of ADT, as well as weekly increases &amp; decreases in short value, short as multiple of ADT.
We highlight short interest changes in CP AXTRA NVDR, Thai Oil, Central Pattana, Indorama Ventures, PTT E&amp;P, Airports of Thailand, Kasikornbank, Bangkok Bank, CP ALL.


Thailand Short Interest Weekly (Mar 28th): CP AXTRA, Thai Oil, Central Pattana, Indorama Ventures

<ul>
<li>We analyzed the changes in short interest of Stock Exchange of Thailand as of Mar 14th.We estimate that they had an aggregated short interest worth USD1.9bn.</li>
<li>We tabulate league table for top short by value and short as multiple of ADT, as well as weekly increases &amp; decreases in short value, short as multiple of ADT.</li>
<li>We highlight short interest changes in Advanced Info Service, Carabao.</li>
</ul>


We analyzed the changes in short interest of Stock Exchange of Thailand as of Mar 14th.We estimate that they had an aggregated short interest worth USD1.9bn.
We tabulate league table for top short by value and short as multiple of ADT, as well as weekly increases &amp; decreases in short value, short as multiple of ADT.
We highlight short interest changes in Advanced Info Service, Carabao.


Thailand Short Interest Weekly (Mar 14th): Advanced Info Service, Carabao

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

EPL Ltd (fka Essel Propack) / Event-Driven

<ul>
<li>
<a href="https://www.smartkarma.com/entities/indorama-ventures-pcl" target="_blank" data-smartkarma-citation="entities:18105:1" rel="noopener">Indorama Ventures (IVL TB)</a> is acquiring a 24.9% stake in <a href="https://www.smartkarma.com/entities/epl-ltd" target="_blank" data-smartkarma-citation="entities:6958:1" rel="noopener">EPL Ltd (fka Essel Propack) (EPLL IN)</a> from Blackstone at Rs 240, marking a major entry into India’s packaging market.</li>
<li>This deal strengthens EPL’s growth and sustainability, unlocking cross-border synergies and driving competitiveness in the global specialty packaging sector.</li>
<li>It redefines investment dynamics in Indian packaging sector, emphasizing sustainable growth and long-term value creation, challenging traditional global investment paradigms.</li>
</ul>



Indorama Ventures (IVL TB) is acquiring a 24.9% stake in EPL Ltd (fka Essel Propack) (EPLL IN) from Blackstone at Rs 240, marking a major entry into India’s packaging market.
This deal strengthens EPL’s growth and sustainability, unlocking cross-border synergies and driving competitiveness in the global specialty packaging sector.
It redefines investment dynamics in Indian packaging sector, emphasizing sustainable growth and long-term value creation, challenging traditional global investment paradigms.


Event Driven: Indorama Bought Strategic Stake in EPL~ A New Chapter in Global Packaging

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.

Equity Bottom-Up

<ul><li>Technically, the SET Index is expected to move sideways, with the support at 1,344/1,338 points and the resistance at 1,364/1,370 points.</li><li>Investment strategy: Sell on rallies and wait to buy back when a new breakout signal occurs.</li><li>Maintain a Buy recommendation for the banking sector, focusing on TTB and KKP, due to their strong potential to outperform in a high bond yield environment.</li></ul>

Technically, the SET Index is expected to move sideways, with the support at 1,344/1,338 points and the resistance at 1,364/1,370 points.Investment strategy: Sell on rallies and wait to buy back when a new breakout signal occurs.Maintain a Buy recommendation for the banking sector, focusing on TTB and KKP, due to their strong potential to outperform in a high bond yield environment.

Krungthai XSpring Zoom Eng. January 27, 2025

<ul><li>Technically, the SET Index is expected to move sideways up, with the resistance at 1,360/1,365 points and the support at 1,344/1,340 points.</li><li>US: The December retail sales report is expected to show growth of +0.6% MoM and +4% YoY (vs. +0.7% MoM and +3.8% YoY in November).</li><li>US stock markets posted the largest single-day gain in two months, boosted by lower-than-expected core inflation.</li></ul>

Technically, the SET Index is expected to move sideways up, with the resistance at 1,360/1,365 points and the support at 1,344/1,340 points.US: The December retail sales report is expected to show growth of +0.6% MoM and +4% YoY (vs. +0.7% MoM and +3.8% YoY in November).US stock markets posted the largest single-day gain in two months, boosted by lower-than-expected core inflation.

US Retail Sales and 4Q24 Earnings Results

Thailand

Indorama Ventures is a global petrochemical producer specializing in intermediate petrochemicals and polymers. The company is the world's largest producer of PET resins, and also manufactures polyester fibers and yarns, purified terephthalic acid (PTA), ethylene oxide (EO), and ethylene glycol (EG). Indorama Ventures is headquartered in Bangkok, Thailand, and was founded in 1994.

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Indorama Ventures (IVL TB)

Thailand Short Interest Weekly (Mar 28th): CP AXTRA, Thai Oil, Central Pattana, Indorama Ventures

We analyzed SET short interest report for the past week and highlighted short interest changes in CP AXTRA NVDR, Thai Oil, Central Pattana,...

Ke Yan, CFA, FRM

Thailand Short Interest Weekly (Mar 14th): Advanced Info Service, Carabao

We analyzed SET short interest report for the past week and highlighted short interest changes in Advanced Info Service, Carabao.

Ke Yan, CFA, FRM

Event Driven: Indorama Bought Strategic Stake in EPL~ A New Chapter in Global Packaging

Indorama Ventures acquires 24.9% stake in EPL Ltd from Blackstone at Rs 240, marking a major entry into India’s packaging market, driving...

Nimish Maheshwari

Krungthai XSpring Zoom Eng. January 27, 2025

Technically, the SET Index is expected to move sideways, with the support at 1,344/1,338 points and the resistance at 1,364/1,370...

Krungthai XSpring

US Retail Sales and 4Q24 Earnings Results

Technically, the SET Index is expected to move sideways up, with the resistance at 1,360/1,365 points and the support at 1,344/1,340 points. US:...

Krungthai XSpring

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Thailand Short Interest Weekly (Mar 28th): CP AXTRA, Thai Oil, Central Pattana, Indorama Ventures

We analyzed SET short interest report for the past week and highlighted short interest changes in CP AXTRA NVDR, Thai Oil, Central Pattana,...

Ke Yan, CFA, FRM

Thailand Short Interest Weekly (Mar 14th): Advanced Info Service, Carabao

We analyzed SET short interest report for the past week and highlighted short interest changes in Advanced Info Service, Carabao.

Ke Yan, CFA, FRM

Event Driven: Indorama Bought Strategic Stake in EPL~ A New Chapter in Global Packaging

​Indorama Ventures acquires 24.9% stake in EPL Ltd from Blackstone at Rs 240, marking a major entry into India’s packaging market, driving...

Nimish Maheshwari

Krungthai XSpring Zoom Eng. January 27, 2025

Technically, the SET Index is expected to move sideways, with the support at 1,344/1,338 points and the resistance at 1,364/1,370...

Krungthai XSpring

US Retail Sales and 4Q24 Earnings Results

Technically, the SET Index is expected to move sideways up, with the resistance at 1,360/1,365 points and the support at 1,344/1,340 points. US:...

Krungthai XSpring

Indorama Ventures acquires 24.9% stake in EPL Ltd from Blackstone at Rs 240, marking a major entry into India’s packaging market, driving...