Stocks worth over one trillion appreciate by 0.86% as Airtel investors gain N162.73 billion during the week

Stocks worth over one trillion appreciate by 0.86% as Airtel investors gain N162.73 billion during the week

The combined market capitalization of the stocks worth over one trillion (SWOOT) appreciated by 0.86% to close at N15.70 trillion from N15.57 trillion the previous week, reflecting a gain of N134.45 billion. Stocks included in this classification are AIRTELAFRICA, BUA CEMENT, DANGOTE CEMENT, NESTLE and MTNN Plc. Stock performance

Airtel Africa Plc – N915.00

Airtel Africa Plc share price grew by 5.00% during the week to close at N915.00 per share at the end of the trading week with a market capitalization of N3.44 trillion. The price increase took the company’s market value up by N162.73 billion.

In a bid to buy out Airtel Nigeria minorities, the company announced that its subsidiary, Airtel Networks Limited, has initiated a process under which it seeks to buy back the 8.27% minority shareholdings at an offer price of NGN 55.81 per share.

Airtel’s HY 2021 unaudited results for the period ended September 30th, 2021 revealed that revenue grew by 20.21% from $965mn in the previous year to $1.16bn in the current period. In the same vein, operating profit showed impressive growth to record a 45% increase from $262mn to $380mn.

Net Profit surged significantly by 118.18% from $88m to $192m. Airtel Africa Plc has an Earnings per share of 4.3 cents. MTNN Plc – N190.00

MTNN Plc’ share price, at the end of the trading week, depreciated by 0.5% to close at N190.00 per share, taking its market capitalization to N3.87 trillion at the end of the five trading sessions of the week. The communications company has a total market capitalization of N3.87 trillion, N428 billion higher than Airtel Africa’s current market value.

MTNN Plc is the second-highest in market value on the Nigerian Exchange Limited (NGX), right behind Dangote Cement Plc. The MTN Group disclosed its intention to sell $245 million worth of its Nigerian subsidiary shares.

The company released its Q3 2021 financial result, reflecting a 22.89% growth in revenue for the period, while profit after tax grew significantly by 58.99% from N49.36 billion in Q3 2020 to N78.48 billion in the current period. Nestle Nig Plc – N1,390.00

Nestle Nigeria Plc’s share price declined by 0.7% to close the week at N1,390.00 amidst sell-offs and buy-interests during the trading week. The fast-moving consumer goods company currently has a market capitalization of N1.10 trillion. Nestle Nigeria Plc is the only company under the NGX Consumer Goods Index to […]

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