PETALING JAYA: Gamuda Bhd
’s share price rose 2.99% on anticipation that it will likely be included in the FBM KLCI after the semi-annual review of the index’s component stock early next month.
At its close, the stock of the construction and infrastructure company was quoted at RM8.95, up 26 sen from the previous day.
RHB Research in its report yesterday said based on the latest market capitalisation rankings, Gamuda would be added into the list of component stocks by virtue of its 20th place ranking.
Separately, 99 Speedmart Retail Holdings Bhd’s ranking at 27th placing put the stock in contention to be added, with RM2bil of market cap separating it from 25th place.
“With all things being equal, 99 Speedmart could make the cut if its share price rises to RM2.50,” RHB Research wrote.
Gamuda and 99 Speedmart – if they could make the cut – would replace the two lowest ranked component stocks, which are currently Genting Malaysia Bhd (GenM) and Genting Bhd.
RHB Research said it expected the revised FBM KLCI reserve list, comprising the five highest-ranking eligible non-constituents of the index by market capitalisation, to be 99 Speedmart (if it fails to reach No 25), Malaysia Airports Holdings Bhd, AMMB Holdings Bhd, Westports Holdings Bhd and GenM. If 99 Speedmart makes it into the list, Genting would be in the reserve list.
