Dangote Cement Gains 10% in Fresh Rally
Dangote Cement Plc gained about 10% as investors increased positions in a fresh rally that lifted the share price to N588 in the Nigerian Exchange on Tuesday.
The company successfully dodged bearish bullets thrown by investors that rotated out from their position following notice of new capital gains.
The cement company increased as 713,127 units valued at N419 million were trading in the local bourse. The cement company stock had been flattish at N534.60 before the first rally kicked in December in a broad-based market rally.
A significant numbers of equities analysts find Dangote Cement stock appealing, thus, continue to attract their buy recommendation.
The company’s Q4 earnings scorecard is anticipated to increase in line with recent performance improvements. But Dangote Cement is not an everyday stock except for those with deep pockets who can stake large bets.
At the close of the trading session, the cement company with 16.863 billion outstanding shares in the market was valued at N9.921 trillion.
Dangote Cement Plc’s current market value is about 12% below its 52 weeks high in the local bourse. # Dangote Cement Gains 10% in Fresh Rally GTCO Delivers 52% Gain in 11-Month Amidst Earnings Pressure
