Stocks to watch comprises the top gainers and losers from the previous week as well as companies expected to have corporate actions this week.
Stocks to watch is not a Buy/Sell/Hold list.
Airtel Africa tops this week’s watchlist, even though it is somewhat of a wild card. The company was to list its shares last Friday on the Nigerian Stock Exchange, but the event was posptponed.
The NSE has since issued a statement, disclosing the listing will take place tomorrow.
The listing would increase the exchange’s market capitalization by N1.3 trillion, and the stock is bound to garner investor interest being a popular brand,
Academy Press Plc
Academy Press Plc takes the second spot in this week’s watchlist by virtue of being last week’s best performing stock. The stock gained 48.15% last week and could decline this week, if investors were to cash in their gains.
Smart Products Plc
Smart Products Plc has a spot in this week’s watchlist by virtue of being the worst performing stock last week. The stock declined by 34.09% to close at N0.29, and could fall further depending on market sentiments.
Seplat Plc has a spot in this week’s watchlist as the company will be holding a capital market day at the NSE where it will brief the investing community on the ANOH gas project.
The event was to have taken place last week, but shifted to this week.
Oando Plc has a spot this week by virtue of a court case between the Securities and Exchange Commission (SEC) and its senior management (Group CEO Wale Tinubu and Deputy GCEO Mofe Boyo).
Hearing in a suit which would consider the company’s request to be joined in the suit, was to have taken place last week, but no details pertaining to the case, where provided.
Guaranty Trust Bank Plc
Guaranty Trust Bank Plc makes a surprise appearance in this week’s watchlist by virtue of the company being one of the worst performing stocks last week.
The stock shed 11.85% last week to close at N29, and could rebound this week as investors may decide to take position.
Omoluabi Mortgage Bank et al
Omoluabi Mortgage Bank, Trans Nationwide Express Plc and Secure Electronic Technology Plc all have a joint spot in this week’s watchlist as the companies would be holding their Annual General Meetings this week
Conoil Plc takes the last spot this week as the company last week released its full year 2018 result after being suspended by the NSE.