Nexgram Holdings Bhd (+ve)
SHARES in Nexgram Holdings Bhd (fundamental: 0.4/3, valuation: 0.9/3) triggered our proprietary momentum algorithm yesterday for the first time this year.
The stock closed unchanged at five sen, giving it a market capitalisation of RM94.11 million. A total of 98.88 million shares were traded, exceeding its 200-day average volume of 6,992,416 shares.
Last Monday, the group has inked a strategic cooperation framework agreement with a Chinese-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 along with power transmission lines.
The agreement includes product research and development, distributions, project joint venture, maintenances and supports, and other strategic partnership cooperation in Southeast Asian countries.