The share price surged after reporting good profit figure with generous dividend announced.

The market appreciates and rewards more towards those always reward shareholders the company profit with dividend.

See those stingy dividend even with tons of cash pile of few billions, share price can underperform for decade.
Share price below NTA, or share price at cash per share etc.

While those reward shareholder with max (near to its EPS), share price sky-rocketing even with little NTA in the book.

We see those so called "expensive stock" are those giving generous dividend one.

A stock (generous dividend) with NTA RM1, share price RM50,
vs
B stock (stingy dividend) with NTA RM10, share price RM5.

A keep on outperform B in the history.

Profit grows, shareholders also must be rewarded, if not forever can see, cannot touch, just like tons on money in the cabinet, but no access into it, what's for?
For looking?

Yes, the share will be forced sell by the broker/investment bank if cannot meet the margin call.

Normally, there is clause in margin trading allowed broker to force sell your collaterised share if cannot meet the margin call within the stipulated period.

Financial analysis basically is rather the same across, but due to difference in corporate practice, culture, how management being run even company history etc, it may affect how the company is valued by investors aka how the share price performance.

Eg,
Base on financial figure, some so called "red chips" were super cheap and extreme value, hard to resist.
Share price Rm0.10
NTA RM1.00
PE 1-3

Super duper undervalued and cheap.
But we know some of the outcome of it, despite look super duper cheap on paper.

Investing is not a science formula like everytime 1+1 must be equal to 2.

Today ABC company may be highly valued, but few years later due to obsolete/change in technology, change of favour of consumer pattern etc, its value can diminish quickly one.
We never know. This is something any book won't able tell us one.

In stock market, whenever we are paying a share price level, we are buying the company "future" not buying the past.
While the flaw of financial analysis is we are buying based on the figure that already happened aka the past.

So there is some "art" in investing as well.
Figure serves as guidance, but not a definite factor.

Some old timers using "art" or "instinct" of investing, only investing in some well known good management company that always rewarding the shareholders.
They do pretty well in the stock market, in fact may earn a fortune with long term holding.

While another person may be always punching figure doing PE, NTA count, financial analysis ended up bought tons of so called "red chip".

I don't think it could be as high of 4-5%, 3-4% should be a more realistic dividend yield target.

They can't give all the profit as dividend like BAT, or like other consumer stocks.
Cash is needed for capex as well as expanding for more power station, as electricity consumption will only go higher not lower.

Not to mention potential higher borrowing cost in USD in the future or when needed for refinancing time (as Fed is expected to increase interest rate further), as it has significant USD borrowing.

But if RM vs USD exchange rate favourable, coming quarter may see some forex gain as well.

It is a defensive stock, and one of cheaper stock in term of valuation for big cap or KLCI components.

The risk of this stock is always the same throughout the history aka tariff revision if fuel cost goes higher time.