MTN Nigeria Plc witnessed another round of selloffs on the floor of the Nigerian Exchange (NGX) Wednesday as investors’ book early profit following its weak earnings performance. The telecommunications company’s share lost 2.67% due to selloffs from its shareholders, dragging its market valuation to N4.509 trillion.

Cash rich Geregu Power Plc has estimated a total profit of N9.87 billion for the third quarter of 2024, according to the company’s regulatory filing submitted to the Nigerian Exchange, NGX.

Geregu Power Plc retained its #2.5 trillion market valuation months after the stock price peaked at N1000. The company came to the local bourse by way of introduction at N100 per share in Oct 2022, with 2.5 billion shares outstanding – Now, nothing appears to be moving the stock price : earnings and deal have no impacts.

Fidelity Bank Plc benefited from a fresh rally on the Nigerian Exchange, led the gainers chart over a five day rally. The bank’s share price rose sharply, up by 23% week on week as value hunters and shareholders queued behind the financial services stock.

CardinalStone Securities analysts have raised BUA Foods 12-month target by about 14% to N314.16 per share from N275.76, details from its equity report revealed. Analysts retain hold recommendation, noting that the food company is trading at premium, suggesting that it’s currently overpriced on the Nigerian Exchange at N379.

The market value of Ecobank Transnational Inc. Plc. (ETI) fell by about 10% to N397 billion on Friday due to large volume selloffs on the floor of the Nigerian Exchange. In the first three months of 2024, earnings results revealed that the Pan African lenders earned $0.28 per share outstanding, as opposed to $0.26 on shares deployed for operation in the corresponding period in 2023.