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The stocks worth over one trillion lose N78.39 billion in market cap

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The stocks worth over one trillion lose N78.39 billion in market cap

The combined market capitalization of the stocks worth over one trillion (SWOOT), depreciated by 0.56% to close at N13.92 trillion from N14.00 trillion the previous week. Stocks included in this classification are AIRTELAFRICA, BUA CEMENT, DANGOTE CEMENT, NESTLE and MTNN Plc.

Of the 5 stocks, only Dangote Cement depreciated by 1.8% to close at N245.00 from N249.60 per share.

Dangote Cement Plc – N245.00

Dangote Cement Plc’s share price depreciated at the end of the trading week to close at N245.00 per share from N249.60, taking the company’s market capitalization to N4.17 trillion from N4.25 trillion the previous week. The company has a total market capitalization of N4.25 trillion.

During the week, sell-off witnessed in Dangote Cement Plc’s shares dragged the broad market down by N0.40% on Monday, thus weighing down the performance of the overall market.

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.

Other companies under the SWOOT classification remained unchanged in share prices and their performances are summarized below.

BUA Cement Plc – N68.00

BUA Cement Plc remained unchanged with a market capitalization of N2.30 trillion at N68 per share.

The cement producer has 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.

In its financial report for Q2 2021, the company reported revenue of N63.09 billion, reflecting a growth of 33.41% from N47.29 billion in 2020.

Similarly, net income increased by N6.16 billion, reflecting a 41.43% increase from N14.87 billion recorded in the corresponding period of 2020 to N21.03 billion in the current period.

Airtel Nig Plc – N750.00

Airtel Nigeria Plc started the trading week with a market capitalization of N2.82 trillion at N750.00 per share and remained unchanged at the end of the week.

Last month, 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 a net profit of $142 million in the Q1 period of 2021.

Nestle Nig Plc – N1,400.00

Nestle Nigeria Plc’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 a market capitalization of N1.11 trillion. Nestle Nigeria Plc is the only company under the NGX Consumer goods Index to be worth over a trillion.

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

The Q2 2021 financial result revealed a 19.07% growth in revenue from N70.7 billion recorded in Q2 2020 to N84.18 billion 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.

MTNN Plc – N172.50

MTNN Plc’ share price ended the week at N172.50 after the five trading days. The communications company has a total market capitalization of N3.51 trillion.

The company is the second highest in market value on the Nigerian Exchange Limited (NGX), right after Dangote Cement Plc.

MTNN Plc has released its Q2 2021 financial result, reflecting a 24.01% growth in revenue for the period, while profit after tax grew by 49.48% from N94.88 billion in Q2 2020 to N141.83 billion in the current period.

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