Thai Stocks: Infrastructure, Healthcare, Renewables Lead Gains; Some Retail Trails

Bangkok Expressway and Metro (BEM) is upgrading the Udon Ratthaya Expressway by adding Easy Pass lanes and improving road surfaces at toll plazas. This initiative reflects continued operational improvements and supports the long-term quality of BEM’s expressway franchise, contributing to its year-to-date stock performance of +27.10%. Bumrungrad Hospital (BH) expects to accelerate its growth strategy in the second half of the year, upgrading its Sports Medicine & Joint Center to capture the rapidly growing Active Lifestyle trend across the Asia-Pacific region. BH has seen its stock rise by +16.51% year-to-date. Gunkul Engineering (GUNKUL) has strengthened its long-term growth pipeline by signing PPAs for three solar and wind power projects, increasing its attributable renewable installed capacity. GUNKUL has experienced a significant year-to-date stock increase of +178.95%. PTT Oil and Retail Business (OR) has partnered with Minor Food to expand four restaurant brands across PTT Station locations nationwide, aiming for over 150 outlets by 2030. This partnership supports OR’s strategy to strengthen its non-oil business. However, OR's stock is down -1.50% year-to-date. Krungthai Card (KTC) reported a second-quarter net profit of THB2.23 billion, a 17.1% year-on-year increase, bringing its first-half net profit to THB4.40 billion, up 17.4% year-on-year. This growth was supported by portfolio expansion and disciplined asset quality management, with a low NPL ratio of 1.86%. KTC's stock has gained +54.29% year-to-date.