Stocks to watch this week, are drawn from the top gainers and losers of the prior week, as well as companies having corporate actions.
Stocks to watch is not a Buy/Sell/Hold list.
Prestige Assurance Plc
Prestige Assurance has the number one spot on our watchlist, by virtue of being the best performing stock last week. The stock gained 41%, opening at N0.56 and closing at N0.79, up N0.23.
Investors could decide to sell down their holdings, in a bid to cash out profits. This could lead to a correction in the stock’s price.
Ikeja Hotels Plc
Ikeja Hotels Plc has a spot on our watchlist by virtue of being the worst performing stock last week, shedding 18.54%. The stock could witness further downside this week, depending on how negative market sentiments are.
Consolidated Hallmark Insurance Plc
Consolidated Hallmark Insurance has a spot on our watchlist this week, by virtue of an Extraordinary General Meeting (EGM) billed to hold on the 28th of this month.
Main item on the agenda is to obtain shareholders’ approval for a capital raise through a private placement. In light of industry regulator, NAICOM’s decision to cancel the tier-based recapitalisation programme, it remains to be seen if the company will go ahead with the move.
RT Briscoe Plc
RT Briscoe has a spot on our watchlist by virtue of holding its annual general meeting this week. The meeting is bound to be filled with fireworks, as a result of the company’s poor performance in the last few years.
Investors will be keeping an eye on this stock, as management would be expected to present strategies to turn the company around.
Cement Company of Northern Nigeria Plc
Cement Company of Northern Nigeria (CCNN) Plc has a spot on our watchlist by virtue of a Court Ordered Meeting (COM) holding this week. The company will be merging with Kalambaina Cement.
Diamond Bank Plc
Diamond Bank Plc earns a spot on our watchlist by virtue of a pending 9M 2018 investor conference call, which was postponed. The company is yet to give a new date.