Tenaga Nasional (TNB) shares rose 1.2% to RM11.85, driven by positive market expectations for its expansion in the renewable energy sector. The company's recent announcements regarding progress in solar projects have boosted investor confidence.
Malaysian utility giant Tenaga Nasional Bhd (TNB) saw strong performance in Wednesday's trading, with its shares rising 1.2% to RM11.85. This gain was primarily attributed to market optimism surrounding TNB's continued expansion in the renewable energy (RE) sector. The company recently announced progress on several large-scale solar projects, including new facilities in Perak and Kedah, aligning with the government's push for green energy. Analysts believe that the growth of TNB's RE portfolio, through its subsidiary TNB Renewables both domestically and internationally, will provide stable support for its future earnings. Furthermore, the market also anticipates TNB to benefit from the gradual increase in electricity demand amid economic recovery.
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