Tabreed share price leap stumps analysts


06/03/2012 09:34 AST  Gulfnews

The astronomical rise in Tabreed's share price has led to confusion over what is driving intense buying interest in the Abu Dhabi-based utilities firm.

Tabreed, which is also known as the National Central Cooling Company, has seen its stock value gain 427 per cent from its low on January 16 — the company's share price has risen from 40 fils to Dh2.13 in seven weeks — although the reasons behind the surge are unclear.

Several listed companies — including construction firm Arabtec — have experienced significant upwards movement in recent weeks as the Dubai Financial Market continues its bull run. However, such large swings tend to create speculation as analysts and investors look for answers.

"Market rumours hint that Tabreed buyers are similar to Arabtec, with strategic buyers building positions in the company using various entities to stay below the five per cent declaration threshold set by the Securities and Commodities Authority law," Mohammad Ali Yasin, a capital markets specialist based in the UAE, said.

For more on this Click Here

National Central Cooling Co. - TABREED
2014 | 2013 | 2012 | 2011 | 2010 | 2009 | 2008 | 2007 | News Archive

JAN | FEB | MAR | APR | MAY | JUN | JUL | AUG | SEP | OCT
Most Viewed Companies
Ticker Price Volume
SABIC 115.25 5,577,865
EMAAR 10.3 11,369,691
SPIMACO 46 370,674
RIBL 20.15 915,847
ALKHODARI 63.5 2,583,416
SECO 17.35 3,019,417
TAWUNIYA 67.75 458,466
Recent News

Zamil Industrial Announces Consolidated Interim Financial Results
Zamil Industrial Investment Company (Zamil Industrial) has announced its consolidated interim financial results for the period ending 30 September 2014.

Net profits for the third quarter o

Bank of Japan touting economic benefits of foreign tourists
TOKYO -- The Bank of Japan is hoping the growing ranks of foreign tourists will help underpin the country's stalling economy and prove that a weak yen can, indeed, be beneficial.

Atsu

Euro rebounds in Asia after drop on ECB easing plan reports
TOKYO: The euro rebounded modestly in Asia on Wednesday after it dropped in New York on reports that the European Central Bank could expand its bond-buying programme.

In Tokyo afternoon tr

Aluminum Retreats as European Factory Output Seen Contracting
Aluminum fell for first time in five days before a gauge that may show euro-area factory output contracted for the first time in 15 months and after a similar manufacturing report on China beat estim

Exxon Partner Oil Search to Decide on LNG Expansion by End 2016
Oil Search Ltd. (OSH) plans to decide on adding new liquefied natural gas processing plants by the end of 2016, as the Papua New Guinea-focused company outlined plans that may double output by early

GulfBase GCC Index
Search By
  • Company Symbol
  • Company Name
  • Mutual Fund Name
  • News Content
Send this page to a friend

Poll

Which of the following do you think is the best long-term investment?