JULI Leads Top Performers with 60% Price Appreciation
Juli Plc, a food/drug retailer company listed on the alternative securities market, has seen a further increase in the company’s stock market valuation, moving against the trend in the local bourse.
Despite losing more than N1.83 trillion due to selling rallies, Juli stocks get more popular with all-around the week gaining streaks. The stock kept uptrend throughout five trading sessions despite seesaw movements in the market.
Its market price surged from N2.34 to N3.75 per share at the end of trading sessions on Friday. Equities investors have now raised Juli Plc’s market value to about N750 million.
MarketForces Africa reported that without so many people noticing, Ticker: Juli has been making an uptrend and what caught stock analysts’ attention is that the supposed cheap stock is getting expensive already.
Wema Bank Plc is the major investor in Juli Pharmacy, controlling 30% of the company’s shareholding. Juli Plc has 199.9 million outstanding shares in the Nigerian Exchange.
It follows that Prince Julius Adelusi-Adeluyi, OFR, mni controls 28.63% while Midas Investment & Property Limited own 8.53%. Analysts noticed that the company’s shares were changing hands fast and furiously ahead of the first quarter of 2024 earnings festival in the local bourse.
The Nigerian Exchange is trading downward at the moment. The random weak earnings performance across major sectors of the economy is driven by the devaluation of the naira.
Still, analysts maintain a bleak outlook on the local currency, though there is hope for foreign investors returning to the market. # JULI Leads Top Performers with 60% Price Appreciation
