Dubai – Mubasher: Drake and Scull International’s (DSI) stock rose on Wednesday in spite of its negative quarterly results, which showed a sharp increase in net loss.
By 1:30 pm UAE time, the stock added 3% to AED 1.77, after 66.55 million shares were traded, generating a turnover of AED 121.78 million through 723 transactions.
The increase of the DSI’s stock is unjustifiable, given the decline of the company’s revenues, Mena Corp financial analyst Issam Kassabieh told Mubasher.
It is hard for us to provide a plausible evaluation regarding the company, as the implementation of the restructure plan was announced a few weeks ago, the analyst concluded.
