WCT shares jump 8% on Kwasa Land job

Quick Summary:

KUALA LUMPUR: WCT Holdings Bhd's trading stock jumped over 8% after it secured a common infra contract from Kwasa Land Sdn Bhd worth RM214mil.

Shares in the engineering firm rose to a high of RM1.22 apiece before falling back to RM1.20 as at 9.39am, representing a gain of nine sen over its reference price, after 25.42 million shares were done.

Kenanga raised the stock's target price to 95 sen from 88 sen previously, but downgraded the stock to "underperform" from "outperform" as the share price has outrun the fundamentals.

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Article Details

Category: EconomyBusiness

Markets: Malaysia

Topics: Stock on the Move Construction Kenanga TA Securities Kwasa Land /Business/Business News WCT Infrastructure HLIB

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-07-16 @ 09:57:00 (18 hours ago)

News Timezone: GMT +8:00

News Source URL: thestar.com.my

Language: English

Article Length: 499 words

Reading Time: 3 minutes read

Sentences: 18 lines

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Copyright Owner: © The Star

News ID: 21642470

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