The Nigerian Stock Exchange (NSE) has been bearish in the last three weeks and this week may not be an exception. Trading will take place on just 4 days this week due to the Democracy Day holiday. Here is an overview of our stocks to watch for the week.
Stocks to watch comprises top gainers and losers for the previous week, as well as any stock having a corporate action such as payment of dividend, closure date or qualification date.
Ikeja Hotels Plc
Ikeja Hotels resumed trading last week after the lifting of a technical suspension imposed by the Nigerian Stock Exchange (NSE).
Current Share Price: N2.58
PE Ratio: 5.39x
Ikeja Hotels is at the top on our watchlist by virtue of being last week’s biggest gainer, rising by 44%. The stock could witness significant volatility as some investors could decide to cash out their profits.
Eterna Oil & Gas Company Plc
Eterna Oil is on our watchlist this week by virtue of its being the biggest loser last week.
Current Share Price: N5.27
PE Ratio: 3.42x
NPF Microfinance Bank Plc
NPF Microfinance Bank earns a spot on our watchlist by virtue of the qualification date for its dividend by the 1st of June, 2018. Investors who take position in the stock 3 days before the date will qualify for dividends.
Investors tend to offload a stock after the qualification date to cash in on capital appreciation.
Current Share Price: N1.93
PE Ratio: 6.85x
NEM Insurance Plc
NEM Insurance is on our watchlist this week since it has a qualification date of 1st of June, 2018. The stock could witness significant volume before and after the qualification date as investors position or exit.
Current Share price: N2.56
PE ratio: 4.83x
LASACO Assurance Plc
LASACO Assurance is on our watchlist as the qualification date for its dividend is on the 1st of June, 2018.
Current Share Price: N0.39
PE Ratio: 4.32x
Infinity Trust Mortgage Bank
Infinity Trust Mortgage bank was incorporated on the 28th of November, 2002 as Infinity Trust Savings and Loans Limited. It commenced operations in 2003. The bank was converted to a public limited liability company and changed its name to Infinity Trust Mortgage Bank Plc. It was listed on the Nigerian Stock Exchange on the 11th of December, 2013.
The principal activity of the bank is the provision of mortgage banking, construction finance and other financial services.
Current Share Price: N1.42
PE Ratio: 26.50x
Infinity trust Mortgage Bank will be paying its dividend for the 2017 financial year on the 30th of May, 2018, hence its spot on our stocks to watch this week.
BOC Gases Nigeria Plc
BOC Gases was incorporated as a public limited liability company on 12 November, 1959 under the name, Industrial Gases (Nigeria) Limited. The name was changed on 10 July, 1961 to Industrial Gases Limited and thereafter, to BOC Gases Nigeria Plc on 17 March, 1997. It was quoted on the Nigerian Stock Exchange in 1979.
The Company is a subsidiary of BOC Holdings Limited, U.K., which holds 60% interest in the equity of BOC Gases Nigeria Plc. BOC Holdings Limited, U.K. is a subsidiary of Linde AG, Germany, the ultimate holding company.
The Company engages in the production of industrial and medical gases as well as the sale of special gases, welding and medical equipment.
Current Share Price: N4.63
PE Ratio: 8.27X
BOC Gases earns a spot on our stocks to watch this list, since the 1st of June, 2018 is the qualification date for its dividend payment.