Hisaka Holdings (FV2.SG) is up 11.3% at $0.345 on strong volume, says Dow Jones. Traders contacted offer different reasons for current keen interest.

“There’s no specific news, but I suspect it might be a rotational play on small listed counters of contract manufacturers,” says a dealer at local brokerage. Another dealer says investors may be hopeful maker of mechanical motion products could pursue TDR listing, while another tips potential M&A activity.

CIMB, which has Buy call with fundamental target price at $0.35, says stock’s technical outlook remains conducive despite being overbought. Notes as long as price doesn’t fall below $0.27, stock could potentially head up to $0.39.

“There could be a minor pullback in the near term but with the trend being still up, one can use pullbacks to get in at a lower level,” says the trader.

Hisaka booked $4.2 million net profit in half-year ended March vs $873,000 loss year earlier on strong sales.