Categories: MarketsNews

Duopharma stock rises as EPF increases stake

by BERNAMA / graphic by MZUKRI

DUOPHARMA Biotech stock price has seen a steady rise since July amid vaccine optimism and it is expected to continue its upward momentum as the Employees Provident Fund (EPF) has increased its holdings.

An analyst said retail investors usually would mirror the movement of institutional investors which would be on a “buy low sell high” trend.

“The two top pharmaceutical companies in Malaysia, namely Pharmaniaga, which is owned by the Armed Forces Fund Board (LTAT), and Duopharma would be the biggest gainers once the COVID-19 vaccine is available.

“Hence, the prospects for ‘buy’ is maintained for the long run,” she said.

In terms of stake, Duopharma’s majority shareholder Bumiputera Investment Foundation holds 46.5 per cent, EPF (7.82 per cent) and Permodalan Nasional Bhd (4.94 per cent).

As at 10.26pm, Duopharma stock rose five sen to RM3.38 with 1.94 million shares traded.

Zukri

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