Kuala lumpur: Shares of Gamuda Bhd were largely unmoved in early trade despite its joint venture with DT Infrastructure (DTI) securing the RM469 million Richmond road upgrade contract in New South Wales, Australia.

According to BERNAMA News Agency, Public Investment Bank Bhd stated that the award is expected to lift Gamuda’s outstanding order book to RM39.3 billion, reinforcing its growth trajectory. The investment bank maintained its earnings forecasts, noting that the new contract had already been factored into its FY2026 order book replenishment assumption of RM25 billion.

The investment bank reiterated an ‘Outperform’ call on Gamuda, with an unchanged sum-of-parts-based target price of RM6.20. DT Infrastructure is part of the Gamuda Australia Group of Companies, a wholly owned subsidiary of Gamuda Bhd.

At 10.10 am, Gamuda’s shares were steady at RM5.04, with 688,200 shares traded.