3 Stocks UP On ASX – ALU, SYR, ECX

3 Stocks UP On ASX – ALU, SYR, ECX

The S&P/ASX 200 index witnessed a slight improvement of 0.7% during today’s trade. The below mentioned stocks have witnessed a substantial improvement in their share price today. Let’s take a look at these stocks –

Altium Limited (ASX: ALU)

Australian multinational software corporation Altium Limited (ASX: ALU) provide a unique range of technologies (Altium Designer®, Altium Vault®, CircuitStudio®, CircuitMaker®, the TASKING®) to organisations and design communities so that they could innovate, collaborate and create connected products while remaining on?time and on?budget. In the first half of FY19, the company reported outstanding performance across all its key metrics. During the half year period, the company reported strong revenue growth of 24% and strong net profit growth of 58% as compared to the previous corresponding period (pcp). This information technology stock is up by over 4% today as compared to the last day close price. Not just this stock whole S&P/ASX 200 Information Technology (Sector) index was up today, gaining by 1.27% during the day’s trade.

H1 FY19 Financial Metrics (Source: Company Reports)

At market close, ALU’s stock was trading at $32.210 with a market capitalization of circa $4.02 billion as on 15 May 2019.

Syrah Resources Limited (ASX: SYR)

Australian-based industrial minerals and technology company, Syrah Resources Limited (ASX: SYR) has witnessed an improvement of over 9% in its share price during the intraday trade. S&P/ASX 300 Metals and Mining (Industry) index was also up by around 1.35% today. In the First quarter of 2019, the company made significant progress with its Balama Graphite Operation with the production 48kt natural flake graphite, including March production record of ~19kt, up 45% relative to Q4 2018. Through its continued improvement in contract performance and logistics, the company was able to sell 48kt of natural flake graphite in the first quarter of 2019. In June quarter of 2019, the company is targeting to produce 50kt – 55kt of natural flake graphite and increase its focus on greater coarse flake split and increased fixed carbon grade for price improvement.

At market close, SYR’s stock was trading at $1.180 with a market capitalization of circa $371.84 Million as on 15 May 2019.

Eclipx Group Limited (ASX: ECX)

Eclipx Group Limited (ASX: ECX) recently announced that it expects to recognise non-cash impairment charges of between $110 million and $130 million in its forthcoming interim 1H19 financial results for the 6 months ended 31 March 2019. The results are scheduled to come on 24 May 2019. The non-cash impairment charges are occurring due to the underperformance of Grays and Right2Drive. The company has confirmed that it is planning to sell its Grays and Right2Drive division and it has already received interest from various parties regarding these businesses.

As at 31 March 2019, the company had unaudited net corporate debt $259.4 million, a decline of $24.3 million from the $283.7 million reported at 28 February 2019.

At market close, ECX’s stock was trading at $1.005 with a market capitalization of circa $287.67 billion as on 15 May 2019.


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