KUALA LUMPUR: Shares of MUDAJAYA GROUP BHD [] fell on Monday, Jan 24 to below the RM5 level on profit taking in line with a weaker broader market while investors stayed cautious despite a longer-term positive outlook.
At 3.32pm, it was down 17 sen to RM4.99 with 1.12 million shares done.
The FBM KLCI fell 6.07 points to 1,541.36. Turnover was 1.17 billion shares valued at RM1.38 billion. There were 188 gainers, 568 losers and 268 stocks unchanged.
OSK Research said in its company report on Mudajaya said it was maintaining its Buy call and raised its target price to RM7.44 after its recent meeting with the management rekindled its optimism in Mudajaya.
The research house said the award of the Janamanjung power plant could serve as the immediate catalyst via the civil works (RM1 billion). In India, the company had submitted thre highway proposals via build-operate-transfer totalling RM3 billion.
'We switch our valuation method to one based on SOP and raise our TP to RM7.44. Maintain BUY,' OSK Research said.
At 3.32pm, it was down 17 sen to RM4.99 with 1.12 million shares done.
The FBM KLCI fell 6.07 points to 1,541.36. Turnover was 1.17 billion shares valued at RM1.38 billion. There were 188 gainers, 568 losers and 268 stocks unchanged.
OSK Research said in its company report on Mudajaya said it was maintaining its Buy call and raised its target price to RM7.44 after its recent meeting with the management rekindled its optimism in Mudajaya.
The research house said the award of the Janamanjung power plant could serve as the immediate catalyst via the civil works (RM1 billion). In India, the company had submitted thre highway proposals via build-operate-transfer totalling RM3 billion.
'We switch our valuation method to one based on SOP and raise our TP to RM7.44. Maintain BUY,' OSK Research said.
No comments:
Post a Comment