KUALA LUMPUR: Shares of MUHIBBAH ENGINEERING (M) BHD [] extended its gains in early trade on Thursday, Nov 11, with related counter, Favelle Favco also rising in active trade.

Both counters were at their fresh 52-week highs as trading interest shifted to lower liners with strong fundamentals but had been ignored in the run-up of index linked stocks and blue chips.

At 9.24am, Muhibbah was up nine sen to RM1.34 with 8.76 million shares done while Favco added seven sen to RM1.12.

Muhibbah's 52-week high was RM1.26 and its 52-week low was 83 sen. Favco's 52-week high was RM1.09 and its 52-week low was 74 sen.

The FBM KLCI fell 2.71 points to 1,525.30. Turnover was 188.23 million shares done valued at RM166.55 million. There were 223 gainers, 127 losers and 203 stocks unchanged.

Muhibbah, through its subsidiaries, engages in civil, infrastructure, and structural engineering contract works primarily in Malaysia. It operates in four segments: infrastructure CONSTRUCTION [], cranes, marine ship building and ship repairs, and concession.

Favco, through its subsidiaries, is involved in the designing, manufacturing, supply, servicing, trading and renting of cranes, and sales of spare parts and services.