North control water Affair rises 3.8%, Nomura rises rating to buy

The North Control Water Group (00371-HK), a half-day rise of 3.8%, reported HK $1.64, a deal of HK $22.8681 million, which won the market in early trading, and the index rose 0.75%.　　Nomura raised its rating from neutral to buy, while also raising its target price from HK $1.03 to HK $2.10, after taking into account a stronger water treatment capacity forecast to raise the 2010 profit forecast by 71% per cent. The bank noted that water treatment capacity (including wastewater and tap water) had increased by 52% per cent to 2.4 million cubic metres by the beginning of June this year, reaching 92% per cent of its full-year forecast of 2.6 million cubic meters for its fiscal year 2009. The bank said the increase was mainly attributable to bids and acquisitions of new projects.