Stocks to watch this week comprises the top gainers and losers of the previous week, and companies that released results or made announcements after Friday’s trading session.
It is not a Buy/Sell/Hold recommendation.
Here are stocks that will be on our radar this week.
Custodian Investment Plc
Custodian Investment Plc tops our watchlist this week. The stock gained 17.47% and was the biggest gainer. Custodian also hit an all time high of N6.89 last week. If bullish sentiments around the stock persist, it could return to similar levels this week.
C and I Leasing Plc
C and I Leasing Plc was the second highest gainer last week appreciating by 10.22%, hence a spot on our stocks to watch this week.
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Tantalizers Plc was the biggest loser last week. The stock shed 25% closing at N0.27. It is also one of the top 10 worst performing stocks on the NSE, year to date. If negative sentiments around the stock persist, it could drop further within the week.
Mutual Benefits Plc
Mutual Benefits Plc was the second biggest loser last week, hence its spot on our watchlist. The stock closed at N0.34, down 24.44%. The company recently obtained approval to raise N2 billion through a rights issue at N0.50 per share. Interested investors may decide to buy on the primary market, due to the significant price differential.
Transcorp Plc makes our watchlist by virtue of the impending release of its second quarter results. The company held a board meeting last Thursday, and its closed period is scheduled to end on the 16th of July 2018. This indicates the company’s Q2 results could be released this week.
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Trans Nationwide Express Plc
Trans Nationwide Express Plc released its second quarter results late last Friday. While the results were flat in comparison to the corresponding period of last year, and investors could decide to offload the stock.
NAHCO Aviance Plc
NAHCO Aviance Plc will be holding its Annual General Meeting on Friday the 20th of July 2018. AGMs provide an opportunity for management to update investors on their plans for the new year. NAHCO recently had a key investor offloading its shares, and the AGM may provide an opportunity for management to provide more insight.
Portland Paints Plc
Portland Paints and Products Nigeria Limited was incorporated as a private limited liability company on the 3rd of September 1985. The company was converted to a public limited liability company on the 24th of April 2008.
The principal activities of the firm are the manufacturing and sale of paints and marine and protective coatings for the oil and gas sector. Portland Paints Plc is a subsidiary of UAC of Nigeria Plc.
The company will be holding its Annual General Meeting (AGM) on Friday 20th of July 2018. As stated above, AGMs provide an opportunity for management to inform shareholders of any new developments in the company.