• Wednesday, June 12, 2024
businessday logo

BusinessDay

Investors gain most in Presco, PZ Cussons, Cutix, others

‘Tech investors must look beyond innovation for sustainable growth’

Last month at the Nigerian Stock Exchange (NSE), stock investors recorded the highest level of capital gains in stocks like Presco plc, PZ Cussons Nigeria plc, Cutix plc, Union Bank plc, and UAC of Nigeria plc, respectively.

Month-on-month (m-o-m), the share price of Presco plc rose by 33.31percent, N24.50 on December 31, 2014, to N33.66 at the close of deals on January 31, 2015. Also in the review period, the share price of PZ Cussons Nigeria plc rose by 24.54 percent, from N23.80 to N29.64.

Read also: Reviewing the legal framework for renewable energy projects in Nigeria

Cutix plc rallied by 19.23 percent, from N1.30 to N1.55. Union Bank plc appreciated by 11.76 percent from N8.5 to N9.5, while UAC of Nigeria plc rose by 9.41 percent, from N34 to N37.20.

On the contrary, investors in Diamond Bank plc, Dangote Flour Mills plc, Julius Berger Nigeria plc, Skye Bank plc, and Fidelity Bank plc, respectively, recorded the highest level of value erosion.

Investors lost 35.84 percent of Diamond Bank price in one month after the bank’s share price dropped from N5.58 as of December 31, 2014, to N3.58 at the close of deals on January 31, 2015.

Dangote Flour Mills plc also dipped by 34.07 percent, from N4.55 to N3; Julius Berger Nigeria plc declined by 26 percent, from a high of N60.66 to N44.89 in just one month. Skye Bank plc dipped by 25.19 percent, from N2.66 to N1.99, while Fidelity Bank plc lost 22.84 percent, from N1.62 to N1.25.