KUALA LUMPUR, (May 14): Shares of Hovid Bhd jumped as much as 3.5 sen or about 7.22% in morning trades on Thursday,

At 10.46am, Hovid (fundamental: 2.1; valuation: 0.5) rose 2.5 sen or 5.15% to 51 sen with 13.5 million shares done.

The herbal tea turned generic drug maker is also due to announce its third quarter results for FY15 was among the most traded counters on Bursa this morning.

According to Hong Leong Investment Bank Bhd's dealer representative Frank Lin when contacted by theedgemarkets.com, the shares of the company is on a rebound as it is recovering after a weak market the last couple of weeks.

"The company had a good run recently especially when the retirement fund emerged as a substantial shareholder," he added, noting that the company has good earnings.

Kumpulan Wang Persaraan (KWAP) purchased five million shares on the open market on April 8.

According to recent filings with Bursa Malaysia, KWAP had 38.5 million shares or a 5.042% stake in the company as at April 8. On April 9, KWAP acquired a further two million shares, increasing its stake in Hovid to 5.3% or 40.5 million shares.

The company posted a net profit of RM4.57 million for the financial year ended Dec 31, 2014 (Q2FY15) compared to RM3.65 million in 2013.

It was previously reported that Hovid’s product quality is already recognised by French pharmaceutical company Sanofi SA, whose unit Winthrop Pharmaceuticals hired Hovid to manufacture four generic medicines for allergies, gastrointestinal disease, epilepsy, neuropathic pain and diabetes.

(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.)