On this week’s Ripples Nigeria Stocks Watchlist, five companies were selected; MTN Nigeria, Dangote Sugar, BUA Cement, Japaul Gold and Guinness. These companies were selected based on their capital market activities and off-market decisions.
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.
MTN Nigeria featured on today’s edition due to its recently raised funds from the open market operations. The network provider borrowed N73.50 billion through bond issuance.
While the company plans to use the funds for working capital and general corporate purpose, the capital will hang as a debt or liability on the financial status of MTN, so investors need to trade cautiously when dealing with the telco’s stocks.
Investors need to be cautious with Dangote Sugar as the company is currently battling with its market image following price fixing allegation last week. It is unknown the extent of the impact the accusation will have on the company as trading resumes.
With its sugar business not listed in the capital market, the sympathy vote it is enjoying in the social media might just trickle down to the cement business during trading this week.
BUA had accused its rival, Dangote Sugar of trying to fix price, and when the company wouldn’t partake in the illegal exercise, Dangote reported the company to Trade Ministry.
This allegation bought BUA sympathy from social media users against Dangote, and the company is currently enjoying a good market image which might create a ripple effect on BUA Cement on the trading floor.
The former oil company earned N0.18kobo on a platter of gold last week, as the firm recorded an impressive outing last week, heading the gainers chart after the one week trading.
The company’s share price rose to N0.63kobo per share from N0.45kobo in four days. This should give investors an insight to what they should expect this week as the company’s value is still hot from last week.
At the end of market last week, Guinness lost N6.20kobo following a massive sell-off among stakeholders. This dragged the value of the brewery company down.
At the end of trading last week, Guinness stock value per share fell from N35.90kobo per share to N29.70kobo per share as investors distance themselves from the company’s shares.
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