Friday 29 Mar 2024
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KUALA LUMPUR (Oct 16): Petronas Dagangan Bhd shares rose 1.9 percent, more than any full-day gain since July 25, while Malaysia's benchmark index was little changed.

Market Metrics

* Shares advanced to RM26.70, higher than any close since Sept. 4, from RM26.20 in the previous session.

* Trading volume was more than triple the 20-day average.

* The FTSE Bursa Malaysia KLCI Index - Kuala Lumpur Composite Index moved less than 0.1 percent, and the MSCI AC Asia Pacific Index rose 0.2 percent.

Market Insights

* In the past year, the stock had a similar or greater gain 12 times at the close; it advanced in the next trading session six times (0.8 percent, on average) and declined five times (1.7 percent, on average).

* Shares are at a 2.7 percent discount to the analysts' consensus target price. The stock traded at an average 1.2 percent discount over the past year.

* RHB analyst Lim Sin Kiat gave a new recommendation on Petronas Dagangan of buy and assigned a target price of RM31 yesterday.

* Stock advanced 7.9 percent in the past 52 weeks as the FTSE Bursa Malaysia KLCI Index - Kuala Lumpur Composite Index lost 1.5 percent.

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