Stocks to watch

Stocks to watch this week comprises the top gainer and loser of the previous week, as well as stocks in the news for one reason or the other.

Stocks to watch is not a Buy/Sell/Hold recommendation.

Cutix Plc

Cutix Plc tops our watchlist by virtue of being the best performing stock last week. The stock gained 15.37% and investors could decide to cash out.

Niger Insurance Plc

Niger Insurance has a spot on our watchlist by virtue of being the worst performing stock last week. The stock declined by 18.92%.

Insurance stocks have witnessed turbulent trading since the announcement of a new tier based capitalisation requirements by NAICOM. While its implementation has been suspended, many of the firms have commenced raising of capital.

The stock could witness more sell pressure in this trading week.

AIICO Insurance Plc

AIICO Insurance Plc has a spot on our watchlist by virtue of the company’s Extra Ordinary General Meeting (EGM) which held last Friday. Investors gave approval for a planned N5.28 billion private placement. Investors could either decide to take position in the stock in anticipation of an upward climb or exit the stock due to the potential dilutive effect.

LASACO Assurance Plc

LASACO Assurance Plc has a spot on our watchlist this week by virtue of an Extra Ordinary General Meeting (EGM) holding this week. The company intends obtaining shareholder approval to increase its authorised share capital by 40 billion shares.

Investors could decide to exit the stock, in view of the dilutive effect of a possible capital raise.

Onome Ohwovoriole has a degree in Economics and Statistics from the University of Benin and prior to joining Nairametrics in December 2016 as Lead Analyst had stints in Publishing, Automobile Services, Entertainment and Leadership Training. He covers companies in the Nigerian corporate space, especially those listed on the Nigerian Stock Exchange (NSE). He also has a keen interest in new frontiers like Cryptocurrencies and Fintech. In his spare time, he loves to read books on finance, fiction as well as keep up with happenings in the world of international diplomacy. You can contact him via onome.ohwovoriole@nairametrics.com

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