Widad Group Bhd shares were up 9.3% to 47 sen as at 11.45am, with close to 68.5 million shares exchanging hands, making it the most actively traded counters today.

The stock was the best performer among its peers.

The counter was down 16% in the past five days and fell 6.9% in the past month, reported Bloomberg.

The stock hit a 52-week high of 56.5 sen on Oct 19 before it showed a downward trend till yesterday.

For the full 52 weeks prior, Widad's stock declined 10% against the backdrop of a declining 0.7% full stock exchange loss.

The trading volume was 26.2 million shares, triple the 20-day average of 7.9 million shares for this time of day. The relative strength index on the stock was below 30, indicating it may be oversold. The company itself is priced at 3.3 times book value.

Widad, one of the top eight Bumiputera contractor companies and among the top 16 contractor companies in Malaysia, said among its top projects include the servicing of Istana Negara and JB Sentral.

Its largest shareholders are Widad Business Group Sdn Bhd with a 34.07% stake, MD Datuk Mohd Rizal Mohd Jaafar (3.18%) and Dimensional Fund Advisors LP (0.1%). It has a market capitalisation of RM1.4 billion.