R.T. Briscoe Nigeria Tops Performers Chart, Gains 34%
R.T. Briscoe Nigeria PLC, a diversified holding company, saw significant price movement in the stock market last week as investors queued to pick up its shares amidst an ongoing earnings release on the Nigerian Exchange.
The share price appreciated by about 34% week on week in the equities market as investors showed interest in diversified, multi-portfolio investment options.
The holding company traded against the Nigerian Exchange (NGX) which ended trading session on negative note as investors took profit on stocks irrespective of their individual fundamentals.
The company share price increased to N1.70 at the close of trading session on Friday, from N1.27 at the beginning of the week due to increased demand for one of the cheapest priced stocks in the market.
The diversified holdings company with interest in automobile, real estate among other now worth about N2 billion on the Nigerian Exchange, the amount spread over its 1.176 billion shares outstanding.
At the current market price, R.T Briscoe is trading at 7% discount to its 52-week high on the local bourse.
Data from the Exchange showed that the company’s share price had peaked at 1.83% early in the year before it retreated due to selloffs, and market corrections on overweight listed shares. #R.T. Briscoe Nigeria Tops Performers Chart, Gains 34% Investors See N481bn Gain ahead of Big Banks Earnings
