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Dangote and BUA Cement shareholders gain N400 billion
According to RNN data, the largest cement manufacturer, Dangote Cement Plc, is listed in the NGX’s industrial products sub-sector, which…
- Dangote and BUA Cement shareholders gain N400 billion
- Additional analysis of the performances of the cement companies
The shareholders of Dangote Cement Plc and BUA Cement Plc earned a combined gain of N400 billion in the first three days of November 2022, despite the sell-down that has been occurring on the Nigerian stock market as a result of the interest rate hike and preparations for the general elections in 2023.
According to RNN analysis, the top cement producer Dangote Cement Plc, which is listed on the NGX’s industrial products sub-sector, led the way with a gain of nearly N332 billion over the course of the three trading sessions. From N220.50 on November 1, the cement stock increased by 8.84% to close at N240 per share.
Following closely behind with a gain of almost N68 billion over the course of the three trading days was BUA Cement Plc, which is also listed in the NGX’s industrial products sub-sector.
The opening price of BUA Cement’s stock on November 1, 2022, was N70 per share, and it increased by 2.87% to N72.00 per share. It is significant to note that Lafarge Africa Plc, the last cement firm to be listed on the NGX, ended flat during the review period at N32.25 per share and a market capitalization of N358.398 billion.
Remember how market analysts had told investors there was still money to be made if they put their money in the proper sectors? The analysts suggested that cement businesses, which are listed in the industrial products sector, are an excellent area to invest in for long-term capital gains.
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Additional analysis of the performances of the cement companies
According to additional data, Dangote Cement completed Thursday’s trading session at N240.00 per share and N4.089 trillion in market capitalization on the Nigerian Stock Exchange (NGX), up N332 billion or 8.84% from when it closed at N220.50 per share and N3.757 trillion.
The stock movement of BUA Cement also revealed that it completed the trading day on Thursday at N72.00 per share and N2,438 trillion in market capitalization, as opposed to N70.00 per share and N2.370 trillion at the start of trade on November 1, 2022. As a result, the stock increased by N68 billion, or 2.87%.