KUALA LUMPUR: Shares of Axiata Group Bhd
rose to a three-week high of RM6.34 in mid-afternoon on Thursday on renewed buying interest.
At 3.30pm, it was up 20 sen to RM6.20. There were 10.98 million shares done at prices ranging from RM6.02 to RM6.34.
The telecommunications services provider was one of major movers of the FBM KLCI at midday, adding about 4.33 points to benchmark index.
A broker said the improving earnings outlook for Axiata’s units, namely, Celcom in Malaysia and XL in Indonesia, could be the factor piquing investor interest in the stock.
Axiata recently hosted its annual Investor Day, during which the company’s management outlined their views and strategies to the investment community.
Among other things, it was highlighted that product innovation would drive Celcom, while growth momentum for XL would likely continue into the third quarter of the year.
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