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First Bank, three other company stocks-to-watch this week



First Bank, three other company stocks-to-watch this week

UPDC, BOC Gases Nigeria, Studio Press, and First Bank made their way into Ripples Nigeria’s Stock-To-Watch list for this week amid multiple takeover and failure to curb profit decline.

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.


UPDC released an unimpressive financial statements for the third quarter of 2021, losing N578.37 million in three months, as profit dropped 71.9 percent.

The company is still struggling to dust off the coronavirus and lockdown impact on its turnover, with cost of sales accounting for N268.83 million out of the N298.68 million revenue generated in Q3.

This paint a gloomy picture of UPDC’s management’s ability to create more value for shareholders investment in the future, and it might affect investors confidence going forward.

First Bank

This is the company of the moment in the stock market following reports that Nigerian billionaire, Femi Otedola, has acquired the majority stake of First Bank, purchasing more than 5 percent.

Read also: Multiple insider tradings, acquisition moves push firms into this week’s stocks-to-watch list

This makes him the only individual with 5 percent or more stake in the lender. Otedola’s presence has lifted the stock value of First Bank by over 50 percent in the last three weeks, more than it recorded nine months before.

First Bank’s stock is red hot in the market, as investors see a positive future with the lender’s stock, hence, the rise in investment value – so this firm is one equity to watch out for this week.

BOC Gases Nigeria

BOC Gases Nigeria is taking up a new shape, as it restructure into Industrial and Medical Gases Nigeria Plc. This change in brand name reflects the takeover by T.Y Danjuma.

However, this change came at a time the value of the firm’s stock is depreciating, which made the company lose N478.68 million in two weeks, after declining by 9.8 percent.

Studio Press

Studio Press is exiting the Nigerian stock market, where it has called home for public investment. Minority investors will be selling off their shares to Federated Resources Nigeria.

The Federated is the second majority stakeholder, and it plans to increase its stake by purchasing each share at N1.99kobo, which is 11.7 percent and N0.21kobo higher than the current share price (N1.78kobo).

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