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Details Written by Omokolade Ajayi | Nairametrics Published: December 28, 2020 7:57 PM
BUA Cement Plc has gained N618 billion since the open of trade on the Nigerian Stock Exchange for the Fourth Quarter of 2020.
The shares of BUA Cement Plc have gained N618 billion since the opening of trade on the Nigerian Stock Exchange for Q4 2020, as investors position for the shares owing to its relative valuation and impressive growth prospects.
This was uncovered by Nairametrics after tracking the performance of the shares of BUA Cement Plc on the floor of the Nigerian Stock Exchange, since October 2nd, 2020 when the market opened for trade for Q4 2020.
The checks revealed that the company has gained N618,024,461,595.00 largely on the back of the increased liquidity from local investors, who found the shares of BUA Cement impressive and chose to invest in the market amidst depressed yields in the fixed income space.
It is important to note that the change in investors’ sentiment driven by the depressed yields in the fixed income space which led to the massive buy pressures on the local bourse, has seen the market capitalization increase from N1.41 trillion to N2.03 trillion.
This means that the market value of the 33,864,354,060 issued ordinary shares of BUA Cement has increased by 43.83% between October 2, 2020 and December 24, 2020.
However, in monetary terms, the shares have increased from N41.75 to N60.00 during the period under review. This translates to a gain of N18.25 per share.
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