With the resumption of trading this week, Dangote Cement, RT Briscoe, Airtel Nigeria, and MTN Nigeria are some of the shares stock investors need to watch out for.
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 and Airtel can now sell foreign currencies through their subsidiaries, a move that will boost their revenue going forward.
The Central Bank of Nigeria approved the forex transaction service for MoMo Agent by MTN and SmartCash by Airtel last week.
With MTN and Airtel setting up businesses outside its core telecoms service, shareholders money is being invested to increase the earnings of the firms, and this will in turn improve their investment in the long run.
It wasn’t a good third quarter for Dangote Cement, as the company failed to grow its net profit during the period this year, after it fell -52.67%.
Dangote Cement’s net profit dropped by N45.62 billion, with the Aliko Dangote firm generating N40.99 billion in Q3 2022, falling below N86.62 billion reported same period last year.
This will leave shareholders disappointed, considering dividends are also paid out of the profit after tax to investors holding Dangote Cement shares.
With the company’s financials released last week, it’s left to see how the capital market will react to the poor earnings of the third quarter going into Q4.
RT Briscoe topped the best performing share last week, after shareholders investment grew by 17.86 per cent following five days of trading.
The share value of the firm rose to N0.33kobo, as investors were willing to pay more than the N0.28kobo the share was worth before the market opened last week.
Shareholders investment grew due to increased demands for RT Briscoe shares on the Nigerian stock exchange. Despite this rise, investors need to trade with caution, as profit-takers can strike during trading this week.
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