In the week that just went by, the Nigerian bourse posted losses on Monday and Tuesday, gains on Wednesday and Thursday while the market closed flat on Friday.
We have selected a group of stocks you should watch out for this week on the basis of how the market fared last week.
Ripples Nigeria Stock Watch-list 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 stock watch-list is not a buy, sell or hold recommendation. It is advisable to consult your financial advisor before making any investment decision.
NPFMB tops our list this week for a number of factors. First, its newly released First Quarter 2020 results reveal it posted over 311% growth in Profit After Tax (PAT).
Similarly, it was the best performing stock last week with 50.85% appreciation in just one week. Yet, the gain has not diminished its potential to rise further this week because its Price to Earnings (PE) ratio is still low at 5.36, meaning it is currently undervalued.
It declared a dividend of N0.20 per share during the week also.
Lafarge makes our list on the back of its outstanding Q1 2020 results, which saw PAT for the period grow by roughly 157%.
MAY & BAKER
May & Baker makes our list on the account of its fairly impressive Full Year 2019 results, which saw Profit for the year grow by 22.42%.