Gamuda rises 3.61% after clinching PDP role for KVMRT 2

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KUALA LUMPUR (Oct 30): Gamuda Bhd shares were among the top gainers on Thursday after the company clinched the PDP role for KVMRT 2.

At 12pm, Gamuda shares rose 3.61% or 18 sen to RM5.17 with 52,400 shares done.

Maybank IB Research in a note today that Gamuda’s new role significantly enhances its construction orderbook.

“Further major infrastructure job wins would further elevate its construction orderbook size.

“We raise our sustainable construction orderbook assumption and revise our RNAV-based target price to RM6 (+13%),” it said.