TSC share price lags auto sector while profit recovers

The Thai Steel Cable (TSC) share price has increased only 4% since the beginning of the year, while other auto stocks have increased by 56-108%, AH (+108%), IRC (+63%), SAT (+73%) and STANLY (+56%). Japanese auto stocks have also strongly increased since January by 39-115%. TSC earnings have started to recover since 2Q09 with a net profit of Bt23mn +121% qoq ahead of other Thai auto stocks with lower qoq earnings or losses in 2Q09.