KUALA LUMPUR: The shares of BOUSTEAD HOLDINGS BHD [] and BOUSTEAD HEAVY INDUSTRIES CORP [] Bhd (BHIC) advanced on Wednesday, Oct 20 after AmResearch upgraded the latter from "hold" to "buy" with a raised fair value of RM5.50.
The research house upgraded the stock on Oct 10 after BHIC's 21% effectively owned Boustead Naval Shipyard Sdn Bhd (BNS) received a letter of intent (LoI) to construct six second-generation patrol vessels (PV) from the Ministry of Defence.
At 4.30pm, BHIC was up one sen to RM4.60 with 331,000 shares done while Boustead added 11 sen to RM5.41 with 1.14 million shares traded.
The research house upgraded the stock on Oct 10 after BHIC's 21% effectively owned Boustead Naval Shipyard Sdn Bhd (BNS) received a letter of intent (LoI) to construct six second-generation patrol vessels (PV) from the Ministry of Defence.
At 4.30pm, BHIC was up one sen to RM4.60 with 331,000 shares done while Boustead added 11 sen to RM5.41 with 1.14 million shares traded.
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