Lafarge WAPCO has increased its position on 105 ameh index.

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Lafarge WAPCO Nigeria plc .

From Benjamin A Ameh, Lagos

Lafarge Cement WAPCO Nigeria plc financial period ended march 31, 2014 with braked down as follow: Revenue stood at N27 033.50 in 2013 over N23 238.13 in 2012 showed an increase of 16 percent, profit before tax stood at N8 621 064 over N7 202 067 showed growth of 20 percent while profit after tax anchored N8 148 716 over N6 073 743 with an increase of 34 percent   

The Nigerian Stock Exchange (NSE) concluded its review of the prices of stocks, as part of its plans to improve liquidity and deepen the market, with the announcement of a new security that will be joining the league of High Priced Stocks. The stock announced is Lafarge Cement WAPCO Nigeria Plc.

Head, Market Operations of The NSE, Mr. Ade Ewuosho confirmed that way back, to move the price of any stock upwards or downwards, the brokers needed to have a volume of 50,000 shares and above.

 However in September 2012, The NSE introduced a pilot programme for its new market structure with the rollout of market making, where stockbrokers could move prices of some high priced stocks with 10,000 shares. These High Priced Stocks are securities that have traded an average of N100 or more per share in four out of the last six months period.

Justifying the inclusion of Lafarge Cement WAPCO Nigeria Plc in the High Priced Stocks Head, Market Surveillance of The NSE, Mr. Abimbola Babalola said a review of trading activities of the company in the last six months shows that the company met the criteria set by the Exchange.

According to the press statement on its site “The Exchange commenced the pilot programme with nine stocks -Dangote Cement, Guinness Plc, Nestle Plc, Nigerian Breweries, SIM Capital Fund, Skye Shelter Fund, Nigerian Energy Sector Fund (NESF) and Total Plc.

The Programme became permanent in 2013 and the nine initial pilot stocks remained. Lafarge Cement WAPCO Nigeria Plc will become the 10th stock on the programme. We have observed that the prices of these High Priced Stocks have been rather stable with none falling below the N100 mark which is currently the benchmark” said Babalola.

Stockbrokers would be able to move the prices of Lafarge Cement WAPCO Nigeria Plc, in addition to the existing High Priced Stocks, with 10,000 units with effect from April 22, 2014.”

In the same vein, due to above planed action of the NSE, Lafarge WAPCO has increased its position on 105 ameh index on both highly priced stocks and above N100bn market capitalization.

With introduction this pilot programme for its new market structure and the roll-out of market making, where stockbrokers could move prices of some stocks with 10,000 shares many stocks has joins other highly priced stocks with their securities traded above N100 or more per share over last six months period.

The pilot programme starts with nine stocks: Nestle Plc, Dangote Cement, Guinness Plc, Nigerian Breweries, SIM Capital Fund, Skye Shelter Fund, Nigerian Energy Sector Fund and Total Plc.

According to 105Ameh index observers, the first resident highly stocks in this category is Nestle Nigeria plc since 80s with above named stocks including Mobil oil plc and Guinness Nigeria Plc which do out and come back sometimes,

 The 105 Ameh index analysts said a review of trading activities among the companies within the index over period under review shows that the Lafarge WAPCO with present 112.50 prices, outstanding shares of 3,001,600,004, market cap of N369bn and weighted average of 0.033 yesterday with present position desire applauds and herald. 

However, Ameh index analysts showed concern why Exchange management omitted Mobil oil plc from N100.00 per share prices stock, the company which has been on list of those stocks traded over N100.00 per share since.

Nevertheless, the Exchange owed trading engine and do observes all the prices of those highly priced stocks may have seen the Mobil oil stock falling below the N100 mark which is currently the benchmark.

Lafarge Cement WAPCO Nigeria plc financial period ended march 31, 2014 with braked down as following: Revenue stood at N27 033.50 in 2013 over N23 238.13 in 2012 showed an increase of 16 percent, profit before tax stood at N8 621 064 over N7 202 067 showed growth of 20 percent while profit after tax anchored N8 148 716 over N6 073 743 with an increase of 34 percent   

 

 


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