In the previous week, Cutix Plc, Aviation Services and Logistics,ASL, ABC Transport, Chemical and Allied Products Plc, Cadbury Nigeria Plc, African Prudential Registrars,Courteville Business Solution,National Salt Company, Diamond Bank and United Bank for Africa recorded highest price rally to emerge the top ten gainers in the stock market.
Cutix Plc listed in electronics and electrical products sector recorded the highest price gain to lead the pack. At the end of transactions last week,the stock went up by 44.52 percent or N0.65 to close at N2.11. It started the week at N1.46. The share price has so far risen by 75.83 percent year-to-date, rising from N1.20 in January to the present market price.Cutix manufactures electrical and telecommunication wires,armoured cables and plastic compounds.
Transport related services company, ASL, followed with 41.82 percent capital appreciation or N1.38 to close at N4.68 from N3.30 it started with. The stock has enjoyed tremendous growth this year. The stock had risen to N5.90 from its year low of N1.27 before declining to the Friday figure. Investors, therefore, have enjoyed as much as 268 percent return on their investment in the company. ASL provides catering and hospitality services to international airlines and airports in Nigeria and tier 1 corporate institutions.
ABC Transport followed with 31.25 percent capital appreciation or increase of N0.25 to close at N1.05 from N0.80. Already, it has recorded 110 percent increase from N0.50 at the beginning of the year to N1.05 at the close of transaction on Friday.
For now, ABC is the only road transport business quoted on the Nigerian Stock Exchange, NSE, and it has been able to diversify into other related businesses, which, according to the Managing Director,Frank Nneji, have reinforced the company’s financial performance. At the close of trading on Friday, investors bought 2.94 million units of the shares. It has diversified into haulage and Cargo business.
CAP, is listed on the building materials sector of the NSE and manufactures paints and coatings, as well as fire extinguishers, took the third place. It was the highest gainer in the penultimate week. At the end of transactions last week,the share price went up by 26.71 percent or N12.50 to close at N59.30 per share.
It opened the week at N46.80. Year-to-date, the stock price has risen by 334.83 from year low of N13.78 to the present market price.CAP evolved from the world-renowned British multinational Imperial Chemical Award Industries plc, which formalised its Nigerian operations in 1957 under ICI Exports Limited.
Cadbury Nigeria Plc was the fifth highest price gainer with 25.50 percent increment or N8.92 to close at N43.90 from N34.98 per share. Cadbury manufactures beverages and other confectioneries.
Other include: African Prudential Registrar, which gained 23.38 percent or N0.36 to close at N1.90;Courtevillegarnered 22 percent capital appreciation or N0.11 to close at N0.61, while NASCON,Diamond Bank and UBA were the last three with 20.11 percent, 15.99 percent and 15.90 percent capital gain to close at N9.05, N7.11 and N8.02 in that order.
[ Vanguard,May 13, 2013 ]