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Hot Stock Encorp shares rise 12% on share buy-back program plan
by Cals Thu 01 May 2014, 01:47
| Hot Stock Encorp shares rise 12% on share buy-back program plan |
| Business & Markets 2014 |
| Written by Jonathan Gan of theedgemalaysia.com |
| Wednesday, 30 April 2014 15:25 KUALA LUMPUR (Apr 30): Encorp Bhd shares were amongst the top gainers list today, rising as high as 12% following the company’s announcement of a share buy-back program At mid-day market break today, the company shares had risen to a high of RM1.59 before giving up its gains to settle at RM1.58. The share saw some 4.9 million trades done at mid day break. Its warrants rose 15 sen as well to settle at RM1.55. In its announcement to Bursa Malaysia, the company said it would be seeking its shareholders' approval for the Proposals at its forthcoming Annual General Meeting. “A circular and statement of share buy-back containing details of the Proposals will be despatched together with the Annual Report 2013 to the shareholders in due course,” it said. The company was among stocks tracked by Kenanga Research’s daily pivot table today Immediate resistance for the stock was placed at RM1.47 with subsequent targets of RM1.50 and RM1.54. Immediate support for the stock was seen at RM1.43. |
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