The Nigerian equity market recorded depreciation four times in the week that just went by and appreciation once, with the developments in the market informing Ripples Nigeria Stocks Watchlist.
Yet, it expanded 0.58% week on week by reason of the big gain on Thursday, one of the single largest daily gains in months.
We have selected a group of stocks you should watch out for this week on the basis of how the market fared last week.
Ripples Nigeria Stocks 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 Stocks Watchlist is not a buy, sell or hold recommendation. It is advisable to consult your financial advisor before making any investment decision.
DANGOTE CEMENT PLC
Dangote Cement tops our list this week on the basis of the news making the round regarding the commencement of its 10% share buyback, which was mooted in January. The speculation is reportedly said to have spurred the full 10% daily appreciation in its shares on Thursday.
Similarly, the stock made our list on account of its modestly impressive half year result, which saw revenue and profit simultaneously grow by 2% to N126.143 billion and N476.852 billion respectively.
LAFARGE AFRICA PLC
Lafarge appears on our list by reason of its spectacular half-year results, where it posted a 159% growth in its bottom line from N9.009 billion to N23.329 billion. In the same vein, its turnover climbed from N117.885 billion to N120.540, implying a N2.25 billion improvement.
JAIZ BANK PLC
Jaiz Bank features on Ripples Nigeria Stocks Watchlist based on its impressive half-year financial performance. It reported a 36.4% leap in turnover from N3.336 billion to N4.550 billion.
AIRTEL AFRICA PLC
Airtel Africa makes our list due to its impressive first quarter 2020 results, which saw revenue jump 6.9% to $851 million.
CORNERSTONE INSURANCE PLC
Cornerstone Insurance features on Ripples Nigeria Stocks Watchlist on the basis of the board’s proposal of a scrip issue of 7 new shares for every 30 previously held. The bonus offer is subject to shareholders’ approval at the underwriter’s annual general meeting.
FIDSON HEALTHCARE PLC
Fidson makes our list on the account of being the highest price gainer last week. Opening at N2.65, the stock closed at N3.13, appreciating by 18.11%.
PRESTIGE ASSURANCE PLC
NAHCO makes our list by virtue of being the highest price loser last week. Opening at N0.54, the stock closed at N0.26, depreciating by 14.81%.
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