The shares of Livestock Feeds Plc have gained N1.6 billion since the open of trade on the Nigerian Stock Exchange this year, as investors continue to bid the shares of the company higher, owing to the impressive financial results of the company in Q3 2020.
This was uncovered by Nairametrics after tracking the performance of the shares of the company on the floor of the Nigerian Stock Exchange, from 4 January 2021 when the exchange opened for year 2021.
The checks revealed that the company has gained N1,589,999,691.54 largely on the back of the robust fundamental strength of the company and its impressive financial performance in 2020.
It is important to note that the buying interest in the shares of the company saw the market capitalization of the company increase from N4.2 billion to N5.8 billion alone this year.
What you should know
- The impressive financial performance of the company has made analysts to review their models, as well as the fair value of the shares of the company.
- This was necessary as the profit after tax of the company increased by 828% in Q3, while its profits in the first nine months of 2020 increased by 2247%.
Nigerian stock market soars as UNITYBNK and JAPAULGOLD plummet
The All-Share Index increased by +0.29% to close at 39,312.74 from 39,198.75.
The Nigerian stock market maintained a bullish recovery as the trading session began this week. This surge was bolstered by gains made by UBN and AFRIPRUD amongst others. The All-Share Index increased by +0.29% to close at 39,312.74 from 39,198.75.
- The Nigerian stock exchange market value currently stands at N20.44 trillion. Its Year-to-Date (YTD) returns currently stand at -2.38%.
- The market breadth closed positive with the bulls as REGALINS led 28 Gainers and UNITYBNK topped the chart of 15 Losers showing a hint of consolation.
1. REGALINS up +9.68% to close at N0.34
2. ABCTRANS up +9.68% to close at N0.34
3. UBN up +9.26% to close at N5.90
4. LINKASSURE up +8.70% to close at N0.75
5. MBENEFIT up +8.11% to close at N0.40
1. UNITYBNK down -8.33% to close at N0.55
2. JAPAULGOLD down -6.67% to close at N0.56
3. NEIMETH down -6.04% to close at N1.71
4. FLOURMILL down -4.84% to close at N29.50
5. NAHCO down -4.55% to close at N2.10
The stock market maintained the recovery as Union bank and LINKASSURE made an appearance for the second consecutive time, pushing the NGX ASI upwards at the end of the trading session today.
- Market sentiments were bullish as the NGX ASI closed with 28 Gainers and 15 Losers.
- Nairametrics advises cautious buying in this era of growing uncertainties.
Dow hits all-time high as energy stocks surge
The DOW gained 7.5 points, or 0.02%, to open at 34785.27 Index points.
At the opening bell, the Dow Jones Industrial Index (DOW) hit an all-time high as the commodity and energy markets are bullish.
The DOW gained 7.5 points, or 0.02%, to open at 34785.27 index points. The S&P 500 fell 4.3 points, or 0.10%, to open at 4228.29, while the Nasdaq Composite dropped 64.6 points or 0.47% to open at 13687.595.
This represents an optimism that interest rates would remain lower for longer, while a surge in commodity prices lifted shares of miners, energy and steel companies.
More details soon…
Nairametrics | Company Earnings
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