Connect with us


Niger Insurance, Honeywell Flour and Okomu Oil among stocks to watch this week



Niger Insurance, Honeywell Flour and Okomu Oil among stocks to watch this week

This week, Niger Insurance, Honeywell Flour and Okomu Oil made the list of stocks to watch, as two of the listed firms were penalised by Nigeria’s capital market authority, negatively affecting shareholders’ investment.

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.

Niger Insurance

The company has been enmeshed in two different regulatory issues, which reflects a poor corporate governance and the management’s inability to comply with regulatory rules.

On one hand, the Insurance regulator, National Insurance Commission (NAICOM) revoked Niger Insurance’s operational certificate due to financial struggles, and on the other hand, the capital market authority, Nigerian Exchange Limited (NGX) suspended trading on the firm’s share.

Read also: Caverton, Sterling Bank, Oando are stocks to watch this week

Considering there have been no significant growth in the firm’s stock in the last six month, this regulatory issues further threatens shareholders investment in Niger Insurance, and blurs any possibility of growth when trading resumes on its share.

Honeywell Flour

Honeywell Flour ended on the loser’s list last week, amid report that the company was penalised by the Nigerian Exchange Limited (NGX) for the management’s failure to submit its Q3 2021 financials before deadline.

Ripples Nigeria reported last week that the firm was fined N1.2 million. After trading that same week, investors dumped Honeywell Flour’s shares in the capital market, resulting to shareholders losing -8.91% of their investment.

Honeywell Flour’s share depreciated from N3.03 to N2.76kobo between Monday to Friday, reflecting declining investor confidence in the firm amid the regulatory sanction.

Okomu Oil

The management’s response in preventing further loss of company asset and personnel, seem to be paying off, as investors confidence rise towards Okomu Oil in the capital market.

This has led to increasing interest in the firm’s stock, causing the value of the share to appreciate by 12.09% last week, rising from N193 50kobo to N216.90kobo. This earned Okomu Oil a spot among the top five gainers.

Join the conversation


Support Ripples Nigeria, hold up solutions journalism

Balanced, fearless journalism driven by data comes at huge financial costs.

As a media platform, we hold leadership accountable and will not trade the right to press freedom and free speech for a piece of cake.

If you like what we do, and are ready to uphold solutions journalism, kindly donate to the Ripples Nigeria cause.

Your support would help to ensure that citizens and institutions continue to have free access to credible and reliable information for societal development.

Donate Now