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Hot Stock Bio Osmo soars on news of change into O&G sector
by Cals Mon 13 Jan 2014, 18:20
| Hot Stock Bio Osmo soars on news of change into O&G sector |
| Business & Markets 2014 |
| Written by Jonathan Gan at theedgemalaysia.com |
| Monday, 13 January 2014 11:40 |
KUALA LUMPUR (Jan 13): Bio Osmo Bhd, a local drinking water producer and manufacturer, was among one of the most active stocks today on news from a local newspaper stating that it might change its course into the oil & gas (O&G) sector.
At 11:24am today, Bioosmo stocks rose half a sen to RM0.235 per share with 33,447,000 trades done.
The local newspaper reported that Tanjung Offshore Berhad’s managing director, Harzani Azmi, has emerged as a substantial shareholder in Bio Osmo Bhd and had acquired 28% stake via its unit Al Maurid Resources Sdn Bhd.
A dealer from RHB told theedgemalaysia.com she had heard of this piece of news too.
The Edge Malaysia Online had contacted both Bio Osmo and Tanjung Offshore, but both parties could not be reached for comment.
According to Kenanga Investment Bank, Bio Osmo’s share price’s immediate support and resistance are at 22 sen and 24 sen respectively.
The stock had reported a 29.73% year-to-date gain to its current price of 24 sen from its low of 9 sen, according to Bloomberg data.
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