KUALA LUMPUR (Jan 15): Shares of LPI Capital Bhd rose as much as 40 sen or 2.01% today as it continued its uptrend for the fourth consecutive day.

At 11.30am, shares of the insurance firm hit a high of RM20.28 before paring some gains just before noon market break. At 2.40pm, the counter rose 20 sen or 1.01% to RM20.08, making it the fourth biggest gainer on Bursa Malaysia at the time.

MIDF Research analyst Danial Razak said LPI Capital still has investor interest following its announcement last Wednesday about a 45 sen second interim dividend per share together with the 1-for-5 bonus issue.

"There will be a bit of dilution, but shareholders are still upbeat about the bonus issue because it will increase liquidity hence bringing in more trade activities towards the counter," Danial told theedgemarkets.com.

"We maintain our Neutral call and target price (of RM18.91) because their earnings have been within house expectation. We do not see any fresh catalyst that will justify a higher valuation," he added.

At RM20.08 per share, LPI Capital has a market capitalisation of some RM6.67 billion.