.jpg)
2 hours ago
3
![ld]0dg78a10n4[onr7sgtag2_media_dl_1.png](https://smartcdn.gprod.postmedia.digital/financialpost/wp-content/uploads/2026/02/shares-related-to-anutin-rally-after-election-win.jpg?quality=90&strip=all&w=288&h=216&sig=MboAKbIQRY7vw5fn0IfJCQ)
Article content
(Bloomberg) — Stecon Group Pcl shares led a rally in companies tied to incumbent Thai Prime Minister Anutin Charnvirakul after his party unexpectedly won the most seats in Sunday’s election.
THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLY
Subscribe now to read the latest news in your city and across Canada.
- Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman, and others.
- Daily content from Financial Times, the world's leading global business publication.
- Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.
- National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.
- Daily puzzles, including the New York Times Crossword.
SUBSCRIBE TO UNLOCK MORE ARTICLES
Subscribe now to read the latest news in your city and across Canada.
- Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman and others.
- Daily content from Financial Times, the world's leading global business publication.
- Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.
- National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.
- Daily puzzles, including the New York Times Crossword.
REGISTER / SIGN IN TO UNLOCK MORE ARTICLES
Create an account or sign in to continue with your reading experience.
- Access articles from across Canada with one account.
- Share your thoughts and join the conversation in the comments.
- Enjoy additional articles per month.
- Get email updates from your favourite authors.
THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK.
Create an account or sign in to continue with your reading experience.
- Access articles from across Canada with one account
- Share your thoughts and join the conversation in the comments
- Enjoy additional articles per month
- Get email updates from your favourite authors
Sign In or Create an Account
or
Article content
The stock jumped as much as 22% on Monday, the most since Sept. 2024, after preliminary results showed Bhumjaithai Party secured 191 seats in the 500-member parliament. It is among the biggest gainers on the benchmark index. STP & I Pcl, an engineering company that Anutin’s family also owns shares in, gained as much as 7.1%.
Article content
Article content
Article content
A solid victory for Anutin and likely coalition partners clears out risks of sustained political deadlock or turmoil. It also ensures policy continuity, sustaining some handouts promoted by his party and easing the way for a new budget.
Article content
By signing up you consent to receive the above newsletter from Postmedia Network Inc.
Article content
“Stecon, STP & I and PTG may have improved sentiment for their links to Bhumjaithai party,” Trinity Securities wrote in a note Monday.
Article content
Anutin’s brother Masthawin Charnvirakul held a 2.24% stake in Stecon, while his father Chavarat Charnvirakul has a 3.56% stake in STP & I, according to their latest filings.
Article content
Stecon and STP & I did not immediately respond to emails seeking for comments.
Article content
Shares of other companies related to members of the BJT also advanced. Gas station operator PTG Energy Pcl rose as much as 8.3%, while sea transportation firm AMA Marine Pcl gained as much as 3.4% — incumbent Transport Minister Phiphat Ratchakitprakarn’s family holds stakes in both companies. Gulf Development Pcl, one of the nation’s largest private power producers which counts Stecon as one of its major contractors, rallied as much as 8% to a record high.
Article content
Gulf Development did not immediately respond to emails seeking comments.
Article content
A wide margin for BJT “will give it a strong mandate to govern and provide much-needed political stability to the Thai market,” Chak Reungsinpinya, an analyst at Maybank Securities (Thailand) Pcl, said in a note.
Article content
English (US)