WCT Holdings Bhd (-ve)
SHARES of WCT Holdings Bhd (fundamental: 0.8/3, valuation: 2/3) also triggered our momentum algorithm yesterday for the first time this year. They closed 1.80% or three sen higher at RM1.70, its highest level since the second half of 2016 started.
It saw 6.72 million shares traded, compared with its 200-days average volume of 1.83 million.
The counter could have been lifted by the anticipation of more projects for construction companies in the upcoming Budget 2017.
WCT recorded a net profit of RM32.1 million in its second quarter ended June 30, 2016 (2QFY16), up 3.27% from the RM31.1 million it netted in 2QFY15, mainly due to higher contribution from its local construction segment.
At its current level, the group is trading at a trailing price-earnings ratio of 10.4 times, with a market capitalisation of RM2.14 billion. WCT has gained 5.6% year to date, and has increased 17.9% from a year ago.