SWOOT 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 […]