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Hot Stock BP Plastics rises 8.3% on Edge Research report
by Cals Thu 06 Nov 2014, 18:50
Hot Stock
BP Plastics rises 8.3% on Edge Research report
KUALA LUMPUR (Nov 6): BP Plastics Holding Bhd ([You must be registered and logged in to see this image.] Financial Dashboard) rose as much as 8.3% after the Edge Research highlighted the firm as its stock pick today.
BP Plastics is a producer of industrial plastic packaging bags and stretch film.
At 2.40 pm, BP Plastics gained 6.5 sen or 7.7% to 91 sen, with 637,400 shares done. The stock had earlier hit a high of 91.5 sen.
The Edge Research, as reported in The Edge Financial Daily today, rated the firm favourably in terms of valuation and fundamentals.
BP Plastics is rated a 2.05 out of 3 on fundamentals and 2.4 out of 3 in terms of valuation attractiveness.
The Edge Research noted the firm is seen as a beneficiary of falling crude oil prices, given that cost for raw materials, such as resin, is closely correlated to that of oil.
Moving forward, the Edge Research foresees the recovery in major export markets to spur demand in plastic packaging.
The recent weakening of the ringgit would also help boost export revenue, it said.
BP Plastics rises 8.3% on Edge Research report
KUALA LUMPUR (Nov 6): BP Plastics Holding Bhd ([You must be registered and logged in to see this image.] Financial Dashboard) rose as much as 8.3% after the Edge Research highlighted the firm as its stock pick today.
BP Plastics is a producer of industrial plastic packaging bags and stretch film.
At 2.40 pm, BP Plastics gained 6.5 sen or 7.7% to 91 sen, with 637,400 shares done. The stock had earlier hit a high of 91.5 sen.
The Edge Research, as reported in The Edge Financial Daily today, rated the firm favourably in terms of valuation and fundamentals.
BP Plastics is rated a 2.05 out of 3 on fundamentals and 2.4 out of 3 in terms of valuation attractiveness.
The Edge Research noted the firm is seen as a beneficiary of falling crude oil prices, given that cost for raw materials, such as resin, is closely correlated to that of oil.
Moving forward, the Edge Research foresees the recovery in major export markets to spur demand in plastic packaging.
The recent weakening of the ringgit would also help boost export revenue, it said.
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