Shares in Honeywell Flour Mills Plc at the close of trading activities on the 26th of March 2021 gained a total of N555 million, as the shares of the integrated flour milling company increased by 5.98% or 7 kobo per share.
The 5.98% increase in Honeywell’s share price led to the N555 million gain in the market capitalization of the flour miller.
These recent gains can be linked to the buying activities of bargain hunters on the NSE on Friday, who capitalized on the dip down to N1.17 per share on Thursday, 25th March 2021, to increase their holdings in Honeywell Flour Mills Plc.
These buying activities saw the shares of the company increase by 5.98%.
Data tracked from the open of trade on Friday, 26th of March 2021, till the close of trade, revealed that the shares of Honeywell increased from N1.17 to N1.24 per share.
This bullish move in the share price of HONYFLOUR saw the market capitalization of the miller increase from N9.278 billion to N9.833 billion.
On the flip side, the indirect stake of the company’s founder, Oba Otudeko, appreciated by about N371 million, as the market value of his holdings increased from N6.194 billion to N6.565 billion.
What you should know
- The Nigerian Stock Exchange All-Share Index and Market Capitalization appreciated by 2.17% to close the week at 39,216.20 and N20.518 trillion respectively.
- The NSE Consumer goods Index to which HONYFLOUR belongs, appreciated by 1.41% today to close the week at 539.45 points.