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Non-bourse activities push GTCO, Flour Mills, BUA Cement, Airtel Nigeria into stocks-to-watch list this week



Non-bourse activities push GTCO, Flour Mills, BUA Cement, Airtel Nigeria into stocks-to-watch list this week

GTCO, Flour Mills, BUA Cement and Airtel Nigeria made the stocks-to-watch list due to mostly activities that don’t relate to the capital market – and these could positively and negatively impact shareholders’ earnings.

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.

Guaranty Trust Holding Company

The company made it to the list this week due to it’s never ending court case against Innoson Motors. The carmaker has asked that the Federal High Court stops the restructuring of the lender.

This comes at a time investors confidence was boosted by the restructuring. This new appeal by Innoson could be a spanner in the works of GTCO, and it might affect the company’s appearance in the stock market this week.

Flour Mills of Nigeria

Flour Mills had applied for a tax exemption, which will prevent the manufacturer from paying income tax for an unspecified period, but its application was rejected.

Read also: Airtel, Zenith Bank, Nestle, and Consolidated Hallmark make Ripples Nigeria stocks-to-watch list

An approval could have threatened the balance sheet Flour Mills, but it remains weak due to the expected tax to the Federal Inland Revenue Service – this might impact the long position of shareholders or investors going forward.

BUA Cements

The company owned by Abdulsamad Rabiu raised its cement price during the week by N200, a month after reiterating that it wouldn’t increase cost.

In defence, Rabiu said the cost of production is to high. Going into the market this week, it is unclear how the investing public will react to this as BUA had stated that the company makes enough money to avoid an increment – does this mean the company doesn’t have enough again?

Airtel Nigeria

The telecommunications company lost a whooping N66.70kobo from its share price last week. This means its stock value depreciated by almost 10 percent in five days.

Airtel Nigeria’s share price had started last week with N667.70kobo per share, but it closed the week with N601 per share – this comes at a period Airtel subscribers are dumping the firm in large numbers

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