3 Shares That Beat the Market Today

Although we don’t believe in timing the market or panicking over market movements, we do like to keep an eye on changes — just in case they’re material to our investing thesis.

The Straits Times Index (SGX: ^STI) followed yesterday’s decline with another 0.1% drop to 3,290 points. Within the index’s 30 constituents, 12 shares had ended the trading session in the red while the same number of blue chips managed to earn some gains.

Let’s take a quick look at some market beaters.

Offshore vessel builder VARD Holdings (SGX: MS7) has inched up by 0.4% to S$1.16. Yesterday, the company announced that it has finally inked a deal with Solstad Offshore after both parties had signed a letter of intent earlier in March.

The new contract would be for the design and construction of a large Offshore Subsea Construction Vessel (OSCV) and is actually the “largest single vessel order in VARD’s history.” Delivery for the vessel is expected to happen in the second quarter of 2016.

Property giant CapitaLand (SGX: C31) is up 0.6% to S$3.23. On Monday, it was revealed that CapitaLand’s privatisation offer for CapitaMalls Asia (SGX: JS8) has ended and as of the day itself, the former has effective control over 98.4% of the latter.

CapitaMalls Asia has since been suspended from trading and would be delisted from Singapore’s Mainboard exchange once CapitaLand acquires the other 1.6% of the company that it does not yet own.

Cortina Holdings (SGX: C41) rounds up the trio with its shares up 5.6% to S$0.855 on no material news. Either way, the luxury watch retailer had released its latest financial report card just two weeks ago.

For the financial year ended 31 March 2014 (FY2014), Cortina’s revenue had grown by 13% to S$415 million while its profit had increased by 11% to S$18.4 million.

Despite double-digit growth in both its top- and bottom-line for the year, Cortina remains “cautious in exploring new retail opportunities to grow” in FY2015 in light of the “challenging and uncertain” global economy.

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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 writer Chong Ser Jing doesn’t own shares in any companies mentioned.