Singapore’s stock market seems to be on fire as the Straits Times Index (SGX: ^STI) hit a new 52-week intra-day high of 3,456 on Friday before losing ground to eventually close at 3,449. Because of that, the index had barely moved a blip higher than where it was last Friday at 3,444. But, don’t take the STI’s lacklustre movement to mean that nothing exciting was going on in the overall stock market. Let’s take a look at some stocks that had noteworthy-gains for the week.
Cordlife (SGX: P8A) had a great week as it rose by 15% to $0.92 from last Friday’s close. The company, which helps store stem cells in the form of umbilical cord-blood, released its third quarter results on Monday and posted a 48% year-on-year increase in quarterly earnings to $1.23m. Cordlife has only been listed on the Mainboard stock exchange for a little more than a year but its shares have increased by more than 80% since its IPO on 29 March last year at $0.495 per share.
Silverlake Axis’s (SGX: 5CP) investors will have some reason to cheer over the weekend after the company’s shares went up by 6.8% to $0.78 over the week. The company provides crucial software solutions for banks and has a customer base exceeding a 100 of them, including 40% of the top 20 largest banks in South East Asia. Silverlake’s recent third quarter results saw it earn RM136.2m for nine months, an increase of 17% over the same period last year.
Super Group (SGX: S10) posted some ‘super’ year-on-year profit growth of 25% for its first quarter of 2013 where net income grew to S$22.1m. The results from the instant beverage manufacturer were cheered by the market as its shares subsequently shot up by 6% on Monday after its earnings release. Though it dipped a little throughout the week, it still ended up at $4.79 for an increase of 4.8% from last Friday.
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The information provided is for general information purposes only and is not intended to be personalised investment or financial advice. Motley Fool Singapore contributor Chong Ser Jing doesn’t own shares in any companies mentioned.