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Stock With Momentum Solid Automotive share price hit record high
by Cals Thu 30 Oct 2014, 01:40
Stock With Momentum
Solid Automotive share price hit record high
KUALA LUMPUR (Oct 29): The upward trend on Solid Automotive Bhd's share price gathers steam again, after it had moved sideway for the past three months. The stock has climbed 10% since last Monday, hitting an all time high of RM1.01 today.
The hardly-traded counter, which made its debut on Bursa Malaysia in September last year, sees its trading volume rising to 1.68 million shares.
It is picked by The Edge Research as stock with momentum today.
As at 4:30pm, its share price went up 7.5 sen or 7.6% to RM1.01.
Solid Automotive’s core business includes trading and distribution of automotive engine and mechanical parts and components; automotive electrical parts and components, remanufacturing of automotive alternators and starters.
Its wholly-owned subsidiary, Uni Point Marketing (M) Sdn Bhd, is the sole distributor of the Lucas-brand automotive parts.
The company recorded net profit of RM2.23 million in the first financial quarter ended July 31, 2014, almost double of RM1.16 million in same period last year. Its earnings per share came in at 1.49 sen for the quarter, versus 1.01 sen previously.
For the financial year ended April 30, Solid Automotive posted net profit of RM7.45 million or 5.44 sen per share. Revenue was at RM118 million.
Solid Automotive share price hit record high
KUALA LUMPUR (Oct 29): The upward trend on Solid Automotive Bhd's share price gathers steam again, after it had moved sideway for the past three months. The stock has climbed 10% since last Monday, hitting an all time high of RM1.01 today.
The hardly-traded counter, which made its debut on Bursa Malaysia in September last year, sees its trading volume rising to 1.68 million shares.
It is picked by The Edge Research as stock with momentum today.
As at 4:30pm, its share price went up 7.5 sen or 7.6% to RM1.01.
Solid Automotive’s core business includes trading and distribution of automotive engine and mechanical parts and components; automotive electrical parts and components, remanufacturing of automotive alternators and starters.
Its wholly-owned subsidiary, Uni Point Marketing (M) Sdn Bhd, is the sole distributor of the Lucas-brand automotive parts.
The company recorded net profit of RM2.23 million in the first financial quarter ended July 31, 2014, almost double of RM1.16 million in same period last year. Its earnings per share came in at 1.49 sen for the quarter, versus 1.01 sen previously.
For the financial year ended April 30, Solid Automotive posted net profit of RM7.45 million or 5.44 sen per share. Revenue was at RM118 million.
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