Stock With Momentum: Nexgram Holdings [Asia Analytica 12 Apr 2018]

Nexgram Holdings Bhd
SHARES in Nexgram Holdings Bhd (fundamental: 0.4/3, valuation: 0.9/3) triggered our momentum algorithm yesterday for the second time this year.

The counter closed up 0.5 sen or 9.09% at six sen yesterday for a market capitalisation of RM112.93 million, with 113.69 million shares traded, higher than its 200-day average volume of 9.97 million shares.

Nexgram is involved in telecommunication software research and development, along with investment and technology advisory services.

Last month, the group inked a strategic cooperation framework agreement with a China-listed group to undertake operations in the field of communications cables.

The tie-up with Jiangsu Tongguang Electronic Wire & Cable Co Ltd would allow it to carry out all-round operations in radio frequency coaxial cables, high-temperature resistant wires and cables for aerospace, aluminium-alloy electrical cables, submarine optical fibre cables and other optical cables, as well as power transmission lines.

Source: Asia Analytica / The Edge Financial Daily