BOC Gases, has remained at a 5-year high, despite a bear market. The stock closed yesterday’s trading at N6.12, which it attained on the 16th of August 2019.
Year to date, the stock is up 45.37%, outperforming the Nigerian Stock Exchange All Share Index which is down 13.97%.
Nairametrics thus placed the stock on this week’s watchlist, as it was last week’s best performing stock appreciating by 9.9%.
Still some way to go
For investors that got into the stock 10 years ago however, it has some way to go before they can at least break even. The stock was trading in double digits in July 2009.
While the firm is currently at a high, possibilities of a further rally are dependent on its Q3 results.
The company’s H1 2019 results show a marginal increase in topline, but a slight decrease in bottom-line. H1 revenue increased from N1.36 billion in 2018 to N1.48 billion in 2019, up 8.82%. Profit after tax fell by 14.8%, from N147 million in 2018 to N128 million in 2019.
On a quarterly basis, the decline in profit is more pronounced. The firm made an operating loss of N13 million in the second quarter of 2019, as against an operating profit of N104 million for the corresponding period of 2018.
The firm however recorded a profit after tax of N24 million in the second quarter of 2019, due to finance income comprising interest on deposits and net gain on foreign exchange transactions.
Reasons for the decline
The company attributed the decline to gas shortages and its organizational health initiatives, following a merger between its ultimate parent company Linde Aktiengesellschaft (Linde AG), and Praxair Inc.
It however expects much more improved gas supply in the second half of the year.
About the firm
BOC Gases was incorporated on the 12th of November 1959, under the name Industrial Gases Nigeria Limited. The name was changed to Industrial Gases Nigeria Limited on the 10th of July 1961, and thereafter to BOC Gases Nigeria Plc on the 17th of March, 1997.
It is a subsidiary of BOC Holdings UK, which in itself is a subsidiary of Linde AG, a German firm.
The company is into the manufacture and sale of industrial and medical gases, as well as the sale of special gases, welding and medical equipment.
Nigerian bourse falls by 0.12% WoW despite gains from GTBank & Zenith
The NSE All-Share Index and Market Capitalization both depreciated by 0.12%.
The Nigerian All-Share Index and Market Capitalization both dropped by 0.12% to close the week at 24,306.36 and N12.680 trillion respectively.
Nigeria’s bourse closed the week with a total turnover of 901.542 million shares worth N13.453 billion in 18,676 deals traded this week by investors on the floor of The Exchange. This is in contrast to a total of 961.833 million shares valued at N9.181 billion that exchanged hands last week in 20,058 deals.
The NSE All-Share Index and Market Capitalization both depreciated by 0.12% to close the week at 24,306.36 and N12.680 trillion respectively.
The Financial Services industry (measured by volume) led the activity chart with 629.368 million shares valued at N5.186 billion traded in 9,887 deals; thus contributing 69.81% and 38.55% to the total equity turnover volume and value respectively. The ICT industry followed with 59.506 million shares worth N5.161 billion in 684 deals. The third place went to the Consumer Goods industry, with a turnover of 57.136 million shares worth N1.385 billion in 2,993 deals.
Trading in the top three equities namely; Guaranty Trust Bank Plc, Fidelity Bank Plc and Zenith Bank Plc (measured by volume) accounted for 293.678 million shares worth N4.042 billion in 4,334 deals, contributing 32.58% and 30.05% to the total equity turnover volume and value respectively.
25 equities appreciated in price during the week, higher than 13 equities in the previous week. 33 equities depreciated in price, lower than 59 equities in the previous week, while 105 equities remained unchanged, higher than 91 equities recorded in the previous week.
RED STAR EXPRESS PLC up 18.52% to close at N3.52.
P Z CUSSONS NIGERIA PLC up 15.38% to close at N4.50.
STERLING BANK PLC. up 13.04% to close at N1.30.
CORNERSTONE INSURANCE PLC up 10.00% to close at N0.55.
ZENITH BANK PLC up 9.51% to close at N16.70.
CHAMS PLC up 9.09% to close at N0.24.
NIGERIAN AVIATION HANDLING COMPANY PLC up 9.00% to close at N2.18.
GUARANTY TRUST BANK PLC. up 7.93% to close at N22.45.
FIDELITY BANK PLC up 7.19% to close at N1.79.
LAW UNION AND ROCK INS. PLC. up 7.00% to close at N1.07.
CUSTODIAN INVESTMENT PLC down 10.91 to close at N4.90.
CONOIL PLC down 10.00 to close at N18.90.
BETA GLASS PLC. down 9.95 to close at N61.55.
MRS OIL NIGERIA PLC. down 9.78 to close at N12.45.
UNILEVER NIGERIA PLC. down 9.78 to close at N12.45.
LIVESTOCK FEEDS PLC. down 9.68 to close at N0.56.
AXAMANSARD INSURANCE PLC down 9.66% to close at N1.59.
BERGER PAINTS PLC down 9.63% to close at N6.10.
ARBICO PLC down 9.52% to close at N1.71.
UACN PROPERTY DEVELOPMENT COMPANY PLC down 9.09% to close at N0.90.
The Nigerian bourse struggled on most reference levels all week, with the exception of most tier-1 banks, that put up a good show in terms of turnover and gains recorded for the week.
However, with daily case surges in COVID-19 caseloads in major cities around Nigeria, and the high volatility ongoing on Nigeria’s black gold (Brent Crude), Nairametrics envisages cautious buying as geopolitical and economic uncertainty strengthens across the spectrum.
Nigerian Bourse finishes on a bullish note, triggered by MTN, INTBREW, VITAFOAM
The Nigerian bourse ended the trading week on a positive note leaving the All Share Index (ASI) Stock at 24,306.36 basis points, gaining 0.12%.
Accordingly, Month-to-Date and Year-to-Date losses stand at -0.68 per cent and -9.48% respectively, while market capitalization stood at N12.679 trillion after increasing by N14.76 billion.
Market sentiment, as measured by market breadth, was positive, as 12 stocks gained, relative to 9 decliners. IntBrew, Vitafoam and Glaxosmith led the gainers’ chart, while at the rear of the chart, ABC transport, UBA and GTBank led the chart.
Market upturn was paired with low trading activities compared to the performance recorded yesterday. Total volume and value of stocks traded declined by 29.47 per cent and 62.41 per cent to 131.63 million units and N899.4 million respectively.
STERLNBK was the most traded stock by volume at 17.6million units while ZENITHBANK finished the most traded stock by value at N220.4 million.
Sectoral performance was lukewarm, as one out of the five major sub-indices posted gains, with the Energy and Industrial index closing flat.
The Consumer Goods index (+0.56%) led the gainers, on INTERBREW (+6.94%) and GLAXOSMITH (+4.35%) gains. Losses in UBA (-2.34%), GUARANTY (-1.32%) and ZENITH (-0.30%) impelled losses in the lenders’ Index (-0.68%), followed by the Insurance index (-0.63%), following price decline in REGALINS (-8.33%) and AIICO (-4.26%).
INTBREW up 6.94% to close at N3.85, VITAFOAM up 5.13% to close at N5.33, GLAXOSMITH up 4.35% to close at N4.8,PZ up 3.45% to close at N4.5, MTNN up 0.96% to close at N116.1
ABCTRANS down 8.93% to close at N0.51, UBA down 2.34% to close at N6.25, GUARANTY down 1.32% to close at N22.45, FBNH down 0.95% to close at N5.2, ZENITHBANK down 0.30% to close at N16.7
Nigerian bourse finished on a positive note, with blue-chip stocks like MTN, triggering the rally experienced at the end of the trading week. However, Nairametrics envisages cautious buying on the resurgence of COVID-19 cases reported in Nigeria.
Stocks close flat despite buying pressures from ECOBANK, GTBANK
GUARANTY finished the most traded stock by value at N534.4 million.
Nigerian bourse on Thursday closed near flat as the All Share Index dropped slightly by 0.01% to 24,276.56 index points. Consequently, YTD performance presently stands at -9.46%.
Activity level reversed its previous increase as total volumes and values exchanged declined by 19.76% and 49.05% to 186.64 million units and 2.393 billion respectively. Fidelity Bank was the most traded stock by volume at 38.0 million units while GUARANTY finished the most traded stock by value at N534.4 million.
Market sentiment, as measured by market breadth, was negative as 15 stocks declined, relative to 10 advancers with CONOIL and ARBICO as top losers by 10.00% and 9.52% respectively, while STERLNBANK and PZ recorded largest price gains with 5.83% and 3.57% respectively.
Across sectors, three of the five indexes under our coverage gained. Price appreciation in LAW UNION and AIICO INSURANCE moved the Insurance index up by 0.64%, while the Banking and industrial followed to gain 0.60% and 0.02% respectively.
Conversely, the Consumer Goods and Oil & Gas indexes were down 0.64% and 0.45% respectively, on the back of sell-offs in INTBREW, DANGSUGAR and CONOIL.
LAWUNION up 7.00% to close at N1.07,PZ up 3.57% to close at N4.35,ETI up 3.26% to close at N4.75,GUARANTY up 1.11% to close at N22.75ZENITHBANK up 0.60% to close at N16.75,
CONOIL down 10.00% to close at N18.9, ARBICO down 9.52% to close at N1.71, VITAFOAM down 9.30% to close at N5.07, INTBREW down 8.86% to close at N3.6, DANGSUGAR down 0.86% to close at N11.5
Nigerian bourse finished on a near stalemate, as buying pressure from top tier-1 banks countered the high sell-offs recorded in CONOIL, VITAFOAM & INTBREW.
However, Nairmetrics envisages you seek the advice of a certified financial advisor when buying financial assets.