BUA Cement Plc, one of the major cement manufacturing companies listed on the Nigerian Exchange (NGX) recorded a gain of about N271 billion in two days despite sustained sell pressure witnessed on the stock.
Market watchers believe investors are optimistic that the company’s eagerly anticipated third-quarter results would show good numbers.
According to a report by Nairametrics, the cement stock grew by 12.90% to N70.00 per share from the N62.00 with which it began the trading session on October 25.
Further checks showed that BUA Cement closed trading on Wednesday with a share price of N70.00 per share and a market capitalisation of N2.3 trillion, as against N62.00 per share and a market capitalization of N2.099 trillion on October 25, 2022. This shows that the stock gained N271 billion or 12.90% during yesterday’s trading session.
BUA Cement began the year with a share price of N67.05 and has since gained 4.4% on price valuation.
During BUA Cement’s board meeting on Monday, 24th October 2022, the company’s Q3 financial report was considered and approved. The financial report will be disclosed on or before October 30th, 2022.