KUALA LUMPUR: The share price retracement in NTPM Holdings Bhd may have been overdone as analysts believe its current valuation does not reflect the company’s improved fundamentals.
The stock closed at 62.5 sen yesterday, 26.5% down from its 52-week peak of 85 sen in December, despite the impressive boost to its net profit for the nine months ended Jan 31,2021.
Its core net profit of RM45.5mil for the nine months was up roughly 20 times year-on-year (y-o-y). The counter has been on the downtrend since mid-December even as it posted steady earnings, buoyed by lower raw material prices.
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