Seplat Energy, First Bank of Nigeria Holdings, and McNichols, are some of the stocks to watch this week, with analysis showing that while some shareholders risk losing part of their investment, others are most likely on the path of growth.
Ripples Nigeria stocks watchlist is a selection of stocks monitored for viable trading or investing opportunities. An investor may casually generate a list of equities for investment purposes. But we have taken the pain to do that based on certain parameters in order to save you that hassle.
Kindly note that Ripples Nigeria Stocks Watchlist is not a buy, sell or hold recommendation. It is advisable to consult your financial advisor before making any investment decision.
First Bank of Nigeria Holdings
The headquarters of First Bank of Nigeria Holdings in Abuja was shutdown by the FCT High Court Enforcement Unit last week Friday, over a debt, indicating the company’s failure to meet its debt obligatory.
While the shutdown occurred on the last day of trading week, it could affect shareholders confidence going into this week’s trading, as investors holding FBN shares already lost -0.45% of their investment on the exchange floor during last week’s session.
Read also: Pharmaceutical, telco, tech, two other companies make stocks to watch list
It means FBN Holdings will open this week’s trading on the losers’ spot, which is where it ended last week’s trading, so investors need to trade with caution, as the bourse resumes this week.
Seplat Energy
Seplat Energy has found a way to partly block revenue losses – which occurs during transportation of the firm’s crude to the export terminals – by building Amukpe-Escravos pipeline in the Niger region area.
This will grow Seplat’s revenue generation, as well as increases the profit of the domestic oil and gas company, and in turn, will improve the firm’s shareholders’ investment in the longterm.
McNichols
After five days of trading last week, investors of McNichols lost -18.6% of their investment, which made the indigenous home grown fast moving consumer brand food and beverage company the worst performing share last week.
The sell off recorded by McNichols on the exchange floor, sent the entity’s stock value down to N0.74kobo per share, as demand for the food processing company depreciated, causing the share to decline from N0.91kobo.
With investors confidence low towards McNichols entering this week’s trading session, uncertainty surrounds the firm’s stock growth, so cautious participation on the exchange floor is required among shareholders.
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