This week’s stocks to watch are Guinness Nigeria, Seplat and Dangote Sugar based on their off-capital market activities which were monitored by Ripples Nigeria.
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.
There had been speculations that Guinness Nigeria was shutting down business in the country, a report that could affect investors’ confidence towards its future growth.
However, in a bid to douse the potential fear among the capital market, which could trigger selloff among shareholders, Guinness said the report was false, and circulated to mislead the public.
With the alcoholic firm assuring it’s not discontinuing operation in Nigeria, this is expected to shore up optimism among investors in the long term.
The oil and gas company has allayed fears that it lost the deal with ExxonMobil to acquire Mobil Producing Nigeria Unlimited after multiple reports stated various challenges blocking the approval.
Losing the deal would have cost Seplat an opportunity to grow its revenue and shareholders’ investment, which could have diminished investors confidence in Seplat’s future and discourage bullish sentiment on its stock.
But according to the firm, its deal is still on without any frustration from the government, but Seplat is still awaiting approval. This is expected to restore the capital market’s faith in the growth of the company.
Dangote Sugar reported an impressive 28.8 percent increase in turnover for last year, a result that is strong enough to make the capital market double down on investments in the firm owned by Aliko Dangote.
Revenue grew from N214.30 billion of 2020 to N276.50 billion in 2021. The management’s ability to up earnings by 28.8% a year after COVID-19 is the selling point that Dangote Sugar needs to be one of the stocks that investors need to watch out for this week.
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