Dangote Sugar, Unilever, UACN make Ripples Nigeria watchlist

Last week was rewarding for investors as the Nigerian Stock Exchange (NSE) closed bullish, after wallowing in a streak of losses despite being in the earning season. The bourse might just be headed towards a Christmas miracle – that will see it reversing its losses so far.

Out of the traded stocks with corporate actions from last week, we have carefully curated a list of stocks you should watch out for this week.

Stock watchlist is a list of securities being monitored for potential trading or investing opportunities. An investor or trader may create a watchlist of several, dozens or even hundreds of trading instruments to make more informed and opportune investment decisions. Lucky for you, we have reduced the hassle.

Ripples Nigeria stock watchlist is not a buy, sell, or hold signal. Consult your financial advisor before making any investment related decision.

Law Union and Rock Insurance Plc

Law Union and Rock Insurance is number 1 on our watchlist by virtue of being the best performing stock from last week’s trade on the NSE. The stock opened at N0.42 and closed at N0.55.

Unilever Nigeria Plc

Unilever made the second position on our watchlist for being the worst performing stock of last week. The stock shed 26.59% to close at N19.60, after opening at N26.70.

Dangote Sugar Refinery Plc

Dangote Sugar made to our watchlist by virtue of its proposed merger by a scheme of external restructuring between it and its subsidiary, Savannah Sugar Company Limited – a company into sugar cane farming and sugar milling.

The merger is subject to approval from shareholders of both companies at separate court ordered meeting as well as the Securities and Exchange Commission (SEC) and the Federal Competition and Consumer Protection Commission.

Read also: University Press, Champion Breweries, Stanbic IBTC lead Ripples Nigeria Stock Watchlist

UAC of Nigeria Plc

UACN is on our stock watchlist by virtue of its Q3 2019 financial statement for the 9 months period ended September 30, 2019, released last week.

The company recorded a 12.6% increase in revenue of N60.5 billion as against N53.8 billion in 2018. Despite recording 30.2% increase in profit after tax from continuing operations, it recorded 1,183.4% loss for the period due to fair value impairment of UACN Property Development Company’s (UPDC) investment of N12.5 billion into UPDC Real Estate Investment Trust.

Transcorp Hotels Plc

Transcorp Hotels is on our watchlist for its scheduled emergency meeting to consider among other things the declaration of interim dividends.

Consequently, the company is declaring a close period between November 4 to December 4, 2019.

C & I Leasing Plc

C & I Leasing made it to our watchlist for its proposed rights issue of 539 million ordinary shares of 50 kobo each at N6 on the basis of 4 new shares for every 3 share held. This means the rights issue is only open to existing shareholders and for every 3 shares held, shareholders get 4 new ones.

The qualification date is Wednesday September 4, 2019.

 

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