Stocks to watch comprises companies that would be having corporate actions this trading week, as well as picks from the best and worst performing stocks of the previous week.
Stocks to watch is not a Buy/Sell/Hold list.
Oando Plc takes the first spot for the second week running by virtue of the company’s tussle with the Securities and Exchange Commission (SEC) and having its Annual General Meeting (AGM) scheduled for the 11th of June, 2019.
It is yet unknown if the AGM will hold as scheduled, in view of the court case filed against the Securities and Exchange Commission (SEC). SEC by law, is also expected to have a representative at the AGM.
Daar Communications Plc
Daar Communications Plc makes a surprise entrance into the watchlist this week, in view of an ongoing court case with the National Broadcasting Commission (NBC).
The NBC had suspended the company’s operating licence, following which it obtained a court order maintaining the status quo prior to the NBC’s move.
Further hearing on the lawsuit is billed for this Thursday.
Wapic Insurance et al
Wapic Insurance Plc, Oando Plc, NASCON Allied Industries Plc, Okomu Oil Palm Plc, Eterna Plc and Union Bank of Nigeria Plc all have a joint spot this week.
Wapic Insurance Plc, NASCON Allied Industries Plc, Okomu Oil Palm Plc, and Eterna Plc will be holding their Annual General Meetings (AGMs).
Union Bank of Nigeria Plc will also hold an Extraordinary General Meeting (EGM) as it seeks shareholders’ approval to net accumulated permanent losses from legacy transactions amounting to N54.4 billion against its share premium.
Champion Breweries Plc
Champion Breweries Plc has a spot this week by virtue of the company being the best performing stock last week. Investors may decide to take positions in the stock, as it is currently trading at a multi year low.
NEM Insurance Plc
NEM Insurance Plc also has a spot this week, as it was the worst performing stock in last week’s trading session. The stock closed down 13.14% last week, and could decline or appreciate depending on market sentiments.
International Breweries Plc
International Breweries Plc maintains what seems to be a perennial place in Nairametrics’ watchlist, as the firm has yet to release its FY 2018 and Q1 2019 results, nor given guidance on when it will do so.