Stocks to watch

Stocks to watch are picked from the top gainers and losers of the prior week, as well as companies with impending corporate actions.

Stocks to watch is not a Buy/Sell/Hold list

Julius Berger Nigeria Plc 

Julius Berger tops Nairametrics’ watchlist this week. The stock was the best performing last week, gaining 22.15%. Year to date, the stock is up 41% and has out-performed the NSE All-Share Index, which is down 2.64%.

Investors at this stage, would most likely sell down their holdings, in a bid to cash in profits.

NEM Insurance Plc 

NEM Insurance has a spot on our watchlist by virtue of the stock being the worst performing last week. Year to date, the stock is down 35.9%, far worse than the All Share Index.

The stock is trading at a 6-month low, and could either rebound or decline further, depending on overall market sentiments this week.

eTranzact International Plc 

eTranzact international Plc occupies a spot on the watchlist this week by virtue of an Extraordinary General Meeting that will be taking place this Thursday. The company will be seeking shareholders’ approval to raise N7 billion fresh capital either as equity, debt, or a mix of both.

Shareholders would be keen on knowing where the funds would be channeled to, beyond what has been stated in the notice.  The outcome of the meeting could also have an effect on the company’s share price.

C and I Leasing Plc 

C and I Leasing takes the last spot on our watchlist by virtue of a notice sent to the NSE last Friday. The company had disclosed that a technical suspension placed on trading of its shares, earlier billed to end Thursday, 27th of December, 2018 would soon be lifted in a matter of days.

Coronation Research

The reconstruction would lead to the firm opening at a higher share price, post-lifting. Some investors could decide to sell and re-enter at a lower price.

 

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