Stocks to watch this week comprises the top gainers and losers of the previous week. In addition, stocks in the news, either for impending results or other actions also make the list. Here are the stocks we would be keeping our eyes on this week.
Japaul Oil and Maritime Services Plc
Japaul Oil and Maritime was the biggest gainer last week, appreciating by 40.91%. The stock opened at N0.22 and closed at N0.31.
Japaul has traded in a volatile manner, falling to as low as N0.2, with the implementation of a new price floor, and a high of N0.97, following news of a potential investment by private equity firm, Milost Global.
Japaul pulled out of the deal, following the controversy surrounding Milost’s planned investment in Unity Bank. It is unclear at this moment what is driving the current rally.
Prestige Assurance Plc
Prestige Assurance was the second highest gainer last week, up by 39.58%. This was largely due to a price adjustment following a share reconstruction.
Prestige, in a rather puzzling chain of events, intends to embark on a bonus issue soon after a share reconstruction. Investors tend to key into stocks, in a bid to qualify for their bonuses. There could be some rally in the stock till a qualification date for the bonus is announced.
NPF Microfinance Plc
NPF Microfinance was the biggest loser last week, following its markdown for dividend payment, shedding 14.51%.
The stock benefited massively from the rally in penny stocks, which occurred in the first quarter of the year, hitting a high of N2.12.
The gains have since tapered down. The sideways trading prevalent in the market means that the stock could witness some depreciation in the trading week ahead.
United Capital Plc
The Group Chief Executive Officer (GCEO) of United Capital, few days ago, officially confirmed that she would be stepping down from office at the end of the month.
The company has been consistent in paying dividends, as well as promptly releasing its full year and quarterly results. Investors would be keen to know who her likely successor is. United Capital is yet to notify the Nigerian Stock Exchange (NSE).
