Dangote Cement Slumps by 10% to N7.344 Trillion

Dangote Cement Slumps by 10% to N7.344 Trillion

Dangote Cement Plc lost about 10% of its market value in the equities market as investors dumped the cement stock ahead of its fourth quarter of 2024 earnings release.

The company share price nosedived by 9.98% on the day to settle at N431 as more than 170,000 shares of the cement stock exchange hands in the local bourse on Tuesday.

Hence, the market value of the company’s 17.040 billion shares outstanding fell to N7.344 trillion, losing its position as the most valuable brand on the Nigerian Exchange to Airtel Africa and BUA Foods Plc.

Dangote Cement plc share price rarely moved after the group share buyback programme that stemmed volatility with Dangote Industries Limited controlling significant shareholding. 

At the current market price, Dangote Cement Plc is now trading at about 44% discount to its 52-week high on the Nigerian Exchange. Still, some analysts think the price slump has created another entry point for alpha seekers. #Dangote Cement Slumps by 10% to N7.344 Trillion.

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