- Brokers Report: Tenaga - Again Taking Over Another IPP - Track 4A
- Brokers Report: Scientex - Expansion Plans Progressing Well
- Market Daily Report: KLCI ends higher in tandem with regional markets
- Brokers Report: Nestlé - KitKat to ignite growth
- Market Daily Report: KLCI up with US stocks as Malaysian earnings trickle in
Thursday, October 27, 2016
Stocks with momentum: Cepatwawasan Group Bhd
SHARES in Cepatwawasan Group Bhd (fundamental: 0.7/3, valuation: 2/3), which triggered our momentum algorithm yesterday for the second time this year, closed up two sen or 2.55% at 80.5 sen.
It saw 1.28 million shares traded, versus its 200-day average volume of 120,745.
The oil palm planter’s share price spiked recently, after it announced a 187% jump in net profit to RM10.4 million for the third quarter ended Sept 30, 2016 (3QFY16), from RM3.62 million a year earlier, on higher sales volume and better crude palm oil and palm kernel prices. Revenue rose 8% year-on-year to RM79.08 million.
Subsequently, its shares gained 9.5 sen or 14% to close at 78.5 sen on Oct 21, from 69 sen on Oct 20.
Cepatwawasan is trading at 0.52 times its net book value.