Stocks to watch comprises the top gainers and losers from the prior week, as well as companies that had corporate actions after Friday’s trading bell, or are expected to have corporate actions this week.
Stocks to watch is not a Buy/Sell/Hold recommendation
Oando Plc takes the first place once more this week as the case between the Securities and Exchange Commission (SEC) and the duo of Wale Tinubu and Mofe Boyo comes up for hearing this week. The court will consider an application by the firm to be joined as a party in the suit.
UPDC and Beta Glass Plc
UACN Property Development Company (UPDC) and Beta Glass Plc have a joint spot this week by virtue of their having Annual General Meetings (AGMs) this week.
Honeywell Flour Mills Plc et al
Honeywell Flour Mills Plc, Learn Africa Plc, Academy Press Plc and AG Leventis Plc all have a joint place this week since they released their results after trading hours.
Honeywell Flour and AG Leventis are likely to decline within the week due to the poor results released, and absence of dividends.
Learn Africa Plc and Academy Press could witness renewed interests from investors, following the declaration of dividends.
Champion Breweries Plc
Champion Breweries Plc has a spot in this week’s watchlist, as it was the best performing stock last week, appreciating by 19.01% to close at N1.69.
Investors could decide to take profit this week, depending on market sentiments.
NPF Microfinance Bank Plc
NPF Microfinance Bank Plc was the worst performing stock last week, hence its taking a spot in this week’s watchlist.
The decline in the stock was largely due to its poor dividend payout for the 2018 financial year. The stock could either drop further or rebound depending on the performance of the market as a whole.
International Breweries Plc
International Breweries Plc takes the last spot this week, one it occupiedfrequently last month. The company is yet to release its full year 2018 and first quarter 2019 results, neither has it given guidance as to when it will do so.