KUALA LUMPUR: Orion IXL Bhd ’s shares rose 5.9% to close at 18 sen after CGS-CIMB Research initiated a coverage with an “add” recommendation.

The financial technology and business solutions provider was the fifth most active counter with over 71.5 million shares changing hands.

Orion-WA gained 10.5%, or one sen to 10.5 sen with 20.36 million shares traded.

“We initiate coverage on Orion with an ‘add’ rating and target price of 33 sen in view of the earnings growth potential from its new fintech business,” CIMB said.

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