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Stocks worth over one trillion maintain N13.84 trillion market capitalization from previous week

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Stocks worth over one trillion maintain N13.84 trillion market capitalization from previous week

The bears and the bulls of the combined market capitalization of stocks worth over one trillion (SWOOT) remained at an impasse at the end of the week as they maintained their previous weeks market capitalization of N13.84 trillion.

Stocks included in this classification are AIRTELAFRICA, BUA CEMENT, DANGOTE CEMENT, NESTLE and MTNN Plc.

MTNN Plc – N175.00

MTNN Plc’s share price was unchanged at the end of the week, maintaining its market capitalization of N3.56 trillion after five trading sessions.

Data from investing.com reveals that there was a little bit of price action on Tuesday, where the stock price traded a high of N176 and a low of N174.50, setting the ceiling and floor price of the week. MTN still has N875 billion more value than its competitor Airtel at its current market price. MTN represents 25.74% of the total SWOOT market capitalization as of the time of this writing.

Recall MTN’s Q2 2021 financial result revealed a 24.01% growth in revenue for the period, while profit after tax (PAT) grew by 49.48% from N94.88 billion in Q2 2020 to N141.83 billion in the current period. The company still maintains its position as the second-highest in market value on the Nigerian Exchange Limited (NGX), right after Dangote Cement Plc.

BUA Cement Plc – N68.00

BUA Cement Plc remained unchanged with a market capitalization of N2.30 trillion at the end of the week. Data from investing.com reveals that there was a little bit of price action all through the week as the stock, price traded as low as of N61.20 and its highest point being its closing price on Friday, setting the floor and ceiling price of the week. Its competitor, Dangote Cement, still has dominance in terms of market capitalization and BUA cement is lagging behind it by approximately N1.9 trillion.

BUA represents 16.64% of the total SWOOT market capitalization as of the time of this writing. Recall that the cement producer announced plans to increase its capacity for production to meet rising demands. The Chairman of the company, Rabiu Abdulsamad, called for new market participants to take position in the industry to further meet demands within and outside the country.

The company’s financial report for Q2 2021, reveals a revenue generation of N63.09 billion, reflecting a growth of 33.41% from N47.29 billion in 2020.

Nestle Nig Plc – N1,400.00

Nestle’s share price stood at N1,400 at the start of the week and remained unchanged as the trading week ended. The fast-moving consumer goods company currently has the least market capitalization amounting to N1.11 trillion, which represents 8.02% of the SWOOT total market capitalization.

Nestle Nigeria Plc is the only company under the NGX Consumer Goods Index to be worth over a trillion. Data from investing.com reveals a significant level of price action all through the week as the stock, price traded as low as N1,372 on Wednesday and its highest point stood at N1,415 on Tuesday, setting the floor and ceiling price of the week.

Recall that the Board of Nestle Nigeria Plc approved a final dividend payment of N28.14 billion representing N35.50 per share which was paid to existing shareholders for the 2020 financial year.

The consumer goods company reported a profit after tax of N9.33 billion, reflecting a decline of 12.23% from N10.63 billion in the corresponding quarter of 2020.

Airtel Africa Plc – N715.00

Airtel Africa Plc ended the trading week with a market capitalization of N2.69 trillion as the share price remained unchanged from the previous week. Airtel’s market capitalization represents 19.42% of the total market capitalization of the SWOOTs.

Data from investing.com reveals a bit of price action all through the week as the stock, price traded as low as N681.70 on Monday and its highest point being N728 on Wednesday, setting the floor and ceiling price of the week.

Recall that weeks ago, the company announced the signing of an agreement under which Qatar Holding LLC, an affiliate of the Qatar Investment Authority (QIA), will invest $200 million in Airtel Mobile Commerce BV, a subsidiary of Airtel Africa Plc.

The company’s Q2 2021 unaudited results for the period ended June 30th, 2021 shows a profit before tax of 133 per cent to $259 million while profit after tax went up by 149 per cent to $142 million. Airtel Africa Plc announced revenue growth of nearly 31%, to $1.1 billion.

Dangote Cement Plc – N245.00

Dangote Cement Plc’s share price remained unchanged at the end of the trading week which puts the company’s market capitalization at approximately N4.18 trillion. This market capitalization represents 30.17% of the total market capitalization, the highest of the SWOOTs. This should come as no surprise because DANGCEM is the most valuable company listed on the Nigerian Exchange Limited.

Data from investing.com reveals a bit of price action all through the week as the stock, price traded as low as of N238.30 on Monday and its highest point being N247.90 on Wednesday, setting the floor and ceiling price of the week.

The Q2 2021 financial result revealed that revenue grew by 57.20% while net income for the period appreciated by 55.48% from N65.55 billion in Q2 2020 to N101.92 billion in the current period.

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