Renewable energy (RE) stocks were actively traded for the second day running, triggered by the passing of the RE Act 2010 on Monday by the Dewan Rakyat.
"Passing of the Act is a major boost to RE companies," said Edmund Tham, Mercury Securities head of research.
The rally could last a couple of days, he added.
Tham said KUB Bhd, which has an energy unit, and Fitters Diversified Bhd might be the traders' pick if the rally were to pick up momentum.
"KUB is also an election play stock, but trading momentum on Fitters is picking up steam," Tham said.
Fitters was among the most actively-traded shares in the market and off the market.
On Monday, the Dewan Rakyat approved the RE Bill, which will now have to get the approval from the Dewan Negara before it becomes a law.
Late last month, Cypark Resources Bhd group chief executive officer Daud Ahmad told Business Times once the RE Act becomes a law, it will mean higher feed tariff for companies supplying RE to Tenaga Nasional Bhd.
"Passing of the Act is a major boost to RE companies," said Edmund Tham, Mercury Securities head of research.
The rally could last a couple of days, he added.
Tham said KUB Bhd, which has an energy unit, and Fitters Diversified Bhd might be the traders' pick if the rally were to pick up momentum.
"KUB is also an election play stock, but trading momentum on Fitters is picking up steam," Tham said.
Fitters was among the most actively-traded shares in the market and off the market.
On Monday, the Dewan Rakyat approved the RE Bill, which will now have to get the approval from the Dewan Negara before it becomes a law.
Late last month, Cypark Resources Bhd group chief executive officer Daud Ahmad told Business Times once the RE Act becomes a law, it will mean higher feed tariff for companies supplying RE to Tenaga Nasional Bhd.
No comments:
Post a Comment