Eita Resources Bhd (-ve)
Eita Resources Bhd (fundamental: 1.7/3, valuation: 2/3) shares, which triggered our momentum algorithm for the second time this month, climbed 7.64% or 11 sen to RM1.55 last Friday.

The counter saw 2.33 million shares traded, versus its 200-day average volume of 65,480.5 shares.

On Feb 28, Eita’s group managing director Fu Wing Hoong said it plans to bid for contracts under the Kuala Lumpur-Singapore High-Speed Rail, besides bidding for Malaysia’s light rail transit Line 3.

Other significant jobs that the home-grown elevator manufacturer is eyeing include bids for mass rapid transit Phase 2 for the supply and installation of lifts and escalators.

In its first financial quarter ended Dec 31, 2016, Eita’s net profit grew 145% year-on-year to RM10.43 million mainly from foreign exchange gain, as revenue jumped 14.69% to RM82.68 million.

The company aims to raise its exports contribution to 50% from 20% currently, targeting Asean and Middle Eastern markets.