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Shares of Thai Tap Water Supply Pcl touched an all-time high after the tap water supplier posted strong second-quarter earnings on higher sales.
Thai Tap shares were up 2.14 baht at 7.15 baht, climbing at one point to 7.20 baht. The stock had risen 41.6 percent so far this year, outperforming a 15.4 percent gain in the broader stock market.
Broker Kasikorn Securities said the quarterly earning was ahead of its expectations.
"We continue to see TTW as expensive at 2.3x 2013E P/BV and maintain an 'underperform' rating on the stock with target price of 6.10 baht based on 20 percent discount to DCF fair value," the broker said in a report.
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1455 (0755 GMT) (Reporting by Viparat Jantraprap in Bangkok; email@example.com)