MTN Nigeria Rises as Investors Price Telecom Stock

MTN Nigeria Rises as Investors Price Telecom Stock

MTN Nigeria Plc recorded a gain in the equities market on Monday as investors continued to increase bets on the telecom stock ahead of its fourth quarter of 2024 earnings. Data from the Nigerian Exchange, NGX, showed that the telecom stock surged by 1.24% on the day of N253.1 as more than 2.8 million exchanged hands in the local bourse.

The positive price movement raised the telecom company’s valuation to N5.313 trillion while the market participants await its earnings release. MTN Nigeria has been positing an unimpressive earnings performance due to huge US dollar-denominated financial liabilities.

A recent tariff hike has raised MTN Nigeria earnings outlook, while deal renegotiation is expected to temper FX losses. In January, MTN Nigeria market climbed by 25% on the back of sustained bargain hunting from alpha seekers in the local exchange. # MTN Nigeria Rises as Investors Price Telecom Stock

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