KUALA LUMPUR (May 8): C.I. Holdings Bhd jumped as much as 17.6% in morning trades today following a return to the black in its third quarter financial results announced Wednesday.

At 11.22am today, C.I. Holdings (fundamentals: 1.85; valuation: 0.6) jumped 39 sen or 16.4% to RM2.77. The top gainer saw trades of some 1.2 million shares. It had earlier hit a high of RM2.80.

The manufacturer of edible oils and water taps could not be immediately reached for comments when contacted by theedgemarkets.com.

InterPacific Securities’ remisier Sam Ng said that while the firm has reported improved financial results, he was amazed by its share price gain thus far.

“We don’t know for sure what is attributed to the share price gain,” he said over the telephone, noting shares of the company have largely been illiquid except for the volume spike in March.

The stock appeared to be expensive at a price-to-book of 2.8 times, according to The Edge Research in its Stocks With Momentum report today.

It said the stock gained 5.8% on Wednesday ahead of its third quarter results ended Mar 31, 2015.

C.I. Holdings posted a net profit of RM2.1 million as compared to a net loss of RM2.1 million in the previous corresponding quarter, while revenue soared 640% to RM71.02 million from RM9.59 million previously.

(Note: The Edge Research's fundamental score reflects a company’s profitability and balance sheet strength, calculated based on historical numbers. The valuation score determines if a stock is attractively valued or not, also based on historical numbers. A score of 3 suggests strong fundamentals and attractive valuations.)