Stock With Momentum: GPA Holdings

TheEdge Wed, May 29, 2019 11:51am - 4 years View Original


GPA Holdings Bhd (-ve)

TRADING of shares in GPA Holdings Bhd (fundamental: 1.2/3, valuation: 0.3/3) triggered our momentum algorithm yesterday for the fifth time this month.

GPA’s share price dropped half a sen or 3.57% to 13.5 sen yesterday, after 5.23 million shares were traded. Yesterday’s volume was substantially higher than its 200-day average volume of 413,954 shares. The group’s market capitalisation stood at RM132.37 million.

GPA manufactures automotive batteries for domestic and export markets. It also makes rechargeable maintenance-free sealed lead acid batteries used as backup power sources for standby and cyclical applications.

On March 6, GPA said it had ceased trading and distribution of personal care products under its subsidiary Kenola Sdn Bhd to mitigate the negative impact and losses the sector had had on the group.

As of yesterday, GPA shares were trading at 1.22 times their net book value.

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