Cornerstone Insurance, Fidson, Vitafoam top Ripples Nigeria Stock Watch list

Last week was a good one for investors with the market recording gains in all the four trading days on the back of renewed interest for blue-chip equities.

The two key market performance indicators simultaneously closed in the positive territory.

We have selected a group of stocks you should watch out for this week on the basis of how the market fared last week and some fundamental factors.

Ripples Nigeria watch list is a selection of stocks monitored for viable trading or investing opportunities. An investor may casually generate a list of equities for investment purposes. But we have taken the pain to do that based on certain parameters in order to save you that hassle.

Kindly note that Ripples Nigeria stock watch-list is not a buy, sell or hold recommendation. It is advisable to consult your financial advisor before making any investment decision.

CORNERSTONE INSURANCE PLC

Cornerstone Insurance tops our list this week on the strength of being the best performing stock last week. It opened at N0.38 last week and closed at N0.53, appreciating by 39.47% in the process.

FIDSON HEALTHCARE PLC

Chams makes the list by virtue of being highest price loser for last week. Opening at N3.10, it fell to N2.70 as the week ended, shedding 12.90%.

VITAFOAM NIGERIA PLC

Vitafoam makes our list on the account of its declaration of 42k per share dividend as a result of its impressive Full Year 2019 results which saw after-tax profit grow by nearly 300%. The resolution is subject to shareholders’ approval at the firm’s next Annual General Meeting (AGM) to be held on 4^th March 2020. Shareholders whose names appear on the company’s register of members at the Close of Business (COB) on 7^th February 2020 will be eligible for the proposed dividend payout. The register of members will be closed on 14^th February 2020, preparatory to the dividend payment date on 5^th March 2020.

Read also: BUSINESS ROUNDUP: Electricity tariff hike; rising oil price; See other stories that made our pick

ARBICO PLC

Arbico makes our list on the account of being at its lowest price in the last 52 weeks. The stock currently sells for N3.51.

BETA GLASS PLC

Betaglass makes our list by reason of being at its lowest price in the last 52 weeks. The stock currently sells for N53.80.

GLAXO SMITHKLINE CONSUMER NIG. PLC

GSK makes our list for this week for selling pretty close to its lowest price in the past 52 weeks. It currently sells for N5.50.

INTERNATIONAL BREWERIES PLC

International Breweries makes our list on the account of selling pretty close to its lowest price in 52 weeks. The stock sells for N9.50 at the moment.

SOVEREIGN TRUST INSURANCE

Sovereign Trust Insurance makes our list on the strength of being at its lowest price in the last 52 weeks. The stock is currently at N0.20 per share.

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