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Hot Stock DKSH rises 4% after 4Q results
by Cals Fri 28 Feb 2014, 01:31
| Hot Stock DKSH rises 4% after 4Q results |
| Business & Markets 2014 |
| Written by Jonathan Gan of theedgemalaysia.com |
| Thursday, 27 February 2014 11:54 |
KUALA LUMPUR (Feb 27): DKSH was among the top gainers today following the release of its impressive fourth quarter results yesterday.
At 11.28 am today, the company’s share rose 29 sen or 4.14% to RM7.29 per share with 139,000 shares traded. The stock had reached a high of RM7.32 earlier.
The company’s net profits for the fourth financial quarter ended 31 December 2013 rose 210% to RM128 million from RM41.3 million in similar quarter a year ago.
The company had attributed its exceptionally high profit to the sale of its transport agencies and property.
The company was included in RHB Retail Research’s trading stocks list today.
The research house had issued an initial target of RM7.75 and a secondary target of RM8.2 with a stop loss at RM7.10.
“Buy on rally continuation above RM7.30” said the report.
Mohammad Ashraf bin Abu Bakar, a technical analyst from RHB Research Institute, told theedgemalaysia.com that he was positive on the stock.
“If it can stay about RM7.30, RM8 per share wouldn’t be a problem” he said.
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