Bursa Alert
Global Market
NewsHot Stock Karex shares rise 10%, call warrants soar 153%
Page 1 of 1
Hot Stock Karex shares rise 10%, call warrants soar 153%
by Cals Mon 14 Apr 2014, 17:45
| Hot Stock Karex shares rise 10%, call warrants soar 153% |
| Business & Markets 2014 |
| Written by Jonathan Gan of theedgemalaysia.com |
| Monday, 14 April 2014 15:06 |
KUALA LUMPUR (Apr 14): Karex Bhd shares rose as much as 10% on investors' optimism on the world's largest condom manufacturer's business outlook, remisiers said.
At 2.44pm, Karex shares rose 26 sen or 9% to RM3.16 with some 3.5 million shares traded. The exchange's fourth-largest gainer had earlier risen as much as 29 sen or 10% to RM3.19.
Goh Kay Chong who is senior remisier with SJ Securities told theedgemalaysia.com that "people still have confidence in the stock as it is the largest condom manufacturer in the world."
“A technical rebound was seen on April 9 and the stock has been trending up ever since,” Chong added.
Karex shares still have upside potential, based on analysts' target prices (TP) for the stock.
CIMB Investment Bank Bhd issued an “add” rating on Karex with an unchanged TP of RM3.38.
RHB Research maintained a “buy” call on the stock with a TP of RM5.11
Today, Karex call warrants (KAREX-CA) issued by CIMB Bank Bhd also rose on the instrument's maiden trading day.
The warrants which earlier soared 23 sen or 153% to a high of 38 sen, was traded at 30 sen at 2.42pm. The bourse's second most-active entity and ninth-largest gainer saw some 49 million units traded.
Last Friday, CIMB Bank issued 50 million Karex call warrants at an issue price of 15 sen each.
Cals- Administrator
- Posts : 25277 Credits : 57721 Reputation : 1766
Join date : 2011-09-08
Location : global
Comments : “My plan of trading was sound enough and won oftener that it lost. If I had stuck to it Iâ€
d have been right perhaps as often as seven out of ten times.â€
Stock Exposure : Technical Analysis / Fundamental Analysis / Mental Analysis
Similar topics» Hot Stock GBH shares, warrants rise in anticipation of take-over offer
» Hot Stock MYEG shares, structured warrants rise
» Hot Stock Xidelang's shares, warrants rise on acquisition plan
» Hot Stock Dialog shares extend losses, call warrants decline 29% ahead of expiry
» Maybank IB issues call warrants for CMSB, Karex, MAHB
» Hot Stock MYEG shares, structured warrants rise
» Hot Stock Xidelang's shares, warrants rise on acquisition plan
» Hot Stock Dialog shares extend losses, call warrants decline 29% ahead of expiry
» Maybank IB issues call warrants for CMSB, Karex, MAHB
Page 1 of 1
Permissions in this forum:
You cannot reply to topics in this forum