Oando, Cutix, Airtel Nigeria and Total Nigeria made the stocks-to-watch list this week.
Their capital market and off-market activities or decisions is expected to have a positive or negative impact on shareholders’ investment during the course of trading.
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.
The company ended its three years battle with the Nigerian bourse regulator, Securities and Exchange Commission. The decision was made to reduce the impact of litigation on shareholders’ investment.
This is expected to boost onvestors’ confidence in the capital market, although Oando was ordered to pay undisclosed amount – this will dwindle their liquidity, but the impact will be for a short-term.
Cutix was reported as the best performing stock of last week, according to the Nigerian Exchange Group. The company had gained 32.51 percent in its stock value.
Shareholders watched as Cutix share price appreciates from its week opening of N3.63kobo per share, to close the week with N4.81kobo.
While this reflects an addition of N1.18kobo gain, it is enough to boost the confidence going into the new capital market week.
The network provider has still not gotten its operating license renewed, and it is expected to expire by November. Last week, the Nigerian Communications Commission (NCC) denied report it had renewed it.
NCC said the renewal is still undergoing regulatory process. It’s uncertain, the level of impact the prolonged process will have on investors confidence going forward.
The oil and gas company was also one of the best performing stock of last week after its share value gained N32.20kobo to rise from Monday’s N168 per share and end with 203.20kobo per share on Friday.
This represents a 20.95 percent rise in shareholders investment during the week. This is a moral booster, but as always, investors still need to trade with caution regardless of the green or red light hanging on a company in the capital market.
Join the conversation
SPECIAL REPORT: Displaced residents of Zamfara battle hunger, as underfunding derails Nigeria’s nutrition goals
On paper, Muhammad Zayyanu is seven years old. The quiet boy who looks shorter for his age could not recollect...
INVESTIGATION: N7.3bn paid for unnamed projects; how Nigerian govt spent N2.2trn in six months
Analysing nearly 3,000 payments made by various Federal Government Ministries, Departments and Agencies (MDAs) over the previous six months (January...
INVESTIGATION… Delay rocks Nigerian govt’s promise of N30,000 covid-19 relief for artisans, others
Before the outbreak of the COVID-19 pandemic in February, 2020, Chukwudi Okoroigwe’s daily earnings as a bus driver was hardly enough to cater to the...
INVESTIGATION… Ten years after, communities count losses as AfDB, Cross River govt abandon road project
Ten years after the Cross River State government and African Development Bank (AFDB) jointly awarded the Yahe-Wanokom-Wanikade-Benue border road for...
INVESTIGATION….N.3bn down the drain: Why water projects for Enugu communities don’t work
In this concluding part, ARINZE CHIJIOKE talks about some of the projects that are serving the people and how various WASH programmes have failed to tackle...