Best Performer: Transcorp Hotels Plc Gains 1048% in 12-Month
Hospitality industry giant, Transcorp Hotels Plc, has dropped a step away from listed companies with more than N1 trillion in market valuation amidst negative investors’ sentiment on the local exchange. Still, the company ranks highest in capital appreciation over the last 12 months.
In the last seven trading sessions, Transcorp Hotels PLC lost about 7% of its highest market price in 52 weeks: the price had fallen from N101.9 to N94.79 on Friday as investors sold down their interest.
Ranked as the best performing stocks on the local bourse, market price of Transcorp Hotels rose marginally by 3% over five trading session as the hospitality player regained popularity among value hunters. In 12 months, the stock has gained more than 1048% due to rising interest in the company’s future earnings performance. Investors continue to park fund in Transcorp Hotels amidst healthy profitability performance.
But as mood in equities market switched heavily in the second quarter, Transcorp Hotels also have its share of bearish touch on its market value. The hospitality stock market valuation has pulled back from N1 trillion club, though its share price surge remains hefty.
According to data from the Nigerian Exchange, Transcorp Hotels Plc’s valuation has dropped to about N971 billion. Last week, the ticker see moderate price appreciation of 3% versus three days negative performance in the market.
Transcorp Hotels Plc came from the bottom price of N8.25 per share, reaching its peak price of N101.9, and now is down to N94.75 in the local bourse. A thousand naira investment in the company 12 months ago would have worth about N1 million naira today. # Best Performer: Transcorp Hotels Plc Gains 1048% in 12-Month Naira Suffers Big, CBN Goes Ballistic Against FX Whales
