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Debt burden, acquisitions make BOC Gases, Access Bank, Airtel Africa, Honeywell Flour stocks to watch this week

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Debt burden, acquisitions make BOC Gases, Access Bank, Airtel Africa, Honeywell Flour stocks to watch this week

As the trading week begins, BOC Gases, Access Bank, Airtel Africa and Honeywell Flour are some of the stocks to watch out for during the five-day capital market activities.

Each company’s inclusion is determined by their capital market and off-market activities, which are likely to have positive or negative impact on shareholders’ investment during the course of trading.

Ripples Nigeria Stocks Watchlist 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.

BOC Gases

BOC Gases was acquired by TY Danjuma last week, as the businessman bought over the majority stake of BOC Holdings UK to take his control in the company to 72 percent.

The takeover seemed to boost investors confidence as the firm, which specialises in manufacturing industrial and medical gases, ended on the top five gainers after BOC Gases share price appreciated by N1.90kobo.

This put BOC Gases on the stocks to watch, as the capital market reacts to the change in ownership and influence of TY Danjuma.

Access Bank

Last week, Access Bank announced that it will not be releasing the company’s second quarter financial statements before deadline due to incorporation of its acquisitions.

Read also: MTN Nigeria, Airtel, Linkage Assurance, Oando make Ripples stocks-to-watch list this week

This delay is likely to have an impact during this week’s trading as the capital market speculates expectations as they wait till September to know the actual financial standings of Access Bank.

Airtel Africa

Airtel Africa made progress with its stake for cash transactions in the company’s mobile money business, as Qatar Investment Authority (QIA) provided its first batch of investment.

Through its affiliate, Qatar Holding LLC, QIA invested $150 million, while $50 million is expected on a later date. The payment increases the chances of Airtel in reducing the burden of debts on its turnover and dividends, hence, increasing value for shareholders.

Honeywell Flour

For two weeks straight, Honeywell Flour has topped the gainers of the week. Last week, its stock value appreciated by N0.95kobo, surpassing the N0.45kobo it gained a week before.

The company’s stock is going into the new trading week as the number one most sought after assets in Nigeria’s capital market, however, investors need to trade with caution as shareholders could also engage in profit-taking.

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