Ahmad Zaki Resources Bhd (-ve)
SHARES of construction outfit Ahmad Zaki Resources Bhd (AZRB) (fundamental: 0.6/3; valuation: 2/3) triggered our momentum algorithm for the second consecutive day yesterday as its stock price rose as much as 3.5 sen or 4.8%, before easing half sen to close at 75.5 sen.
It saw 12.48 million shares traded, compared to its 200-day average volume of 371,396 shares. Its share price has jumped 32.5% since March 11.
Last month, AZRB was awarded the first viaduct work package for the construction of the Mass Rapid Transit (MRT) Sungai Buloh-Serdang-Putrajaya (SSP) Line, worth RM1.44 billion.
On Monday, AZRB said it had received the letter of acceptance from Mass Rapid Transit Corp Sdn Bhd (MRT Corp) on Apr 1.
The stock currently trades at a trailing 12-month P/E of 15.28 times and is at 1.07 times its book value.
AZRB (7078) - Stock With Momentum: Ahmad Zaki Resources
http://www.theedgemarkets.com/my/article/stock-momentum-ahmad-zaki-resources
