Stanbic IBTC, International Breweries and Wema Bank made it into the stock to watch list of Ripples Nigeria following poor turnover and share reconstruction reported last week.
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.
Stanbic IBTC made it into the stock to watch list due to its plummeting earnings, which has led the company into cutting dividend payout to its shareholders for the period of 2021.
Its turnover for last year fell -11.8%, while profit after tax also dwindled by -31.5% during the same period, reflecting a poor financial year for Stanbic IBTC, as reported by Ripples Nigeria last week.
This isn’t a confidence booster for the investing public, and as the capital market resumes trading this week, investors need to trade with caution.
The alcoholic company reported a disappointing financial performance in 2021 after reporting N17.65 billion loss for the period, after blowing N17.67 billion on marketing of its drinks.
This will have an impact on investors confidence in the capital market, as the management is unable to stop International Breweries losses, having recorded N16.08 billion loss in 2020.
International Breweries declining financials was reported last week, so its left to see how investors react to the disclosure during this week’s trading session.
Shareholders of Wema Bank resume to regular trading of the company’s shares after it successfully completed its share reconstruction last week.
Trading on Wema Bank’s stocks had been suspended for almost a month since Tuesday, March 8, 2022. It’s restructured share capital has improved the value of share held by stakeholders to N2.76kobo per share from N0.92kobo.
This is expected to improve demand for Wema Bank shares as scarcity is expected to trail the reduction of the share capital from 38,574,466,082 ordinary shares to 12,858,155,360 ordinary shares.
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