NIC Bank – Shares in the bank yesterday climbed 0.68 percent to close at their second highest price in one year at KES 37.25 from KES 37.00 on Tuesday. Next month, NIC is scheduled to carry out Kenya’s second largest rights issue of this year set to raise 2.07 billion shillings to pursue the bank’s local and regional expansion. Read more on this here. Pesatalk will continue to watch the NIC counter which is expected to gain as the rights issue nears.
Marshalls East Africa – Reports have surfaced that Mr. Kamlesh Pattni has sold off his 50.7 percent stake in the car dealer in a deal worth an estimated 90 million shillings based on the current market value of the shares at the NSE (Business Daily). Such a move could affect the share negatively, and we will observe the counter today to see how it reacts. The share has been stable this year, trading in the range of 12 shillings per share and closing at KES 12.30 for the past two weeks.
Bamburi Cement – Kenya’s biggest cement maker gained 2.78 percent to close at its highest price in almost two years at KES 185 form KES 180 on Tuesday. The share has been on the upward this month, gaining a total of 11 percent. The year has seen continued construction of large infrastructural projects in the country and with Bamburi at the fore-front of cement production, interest in the share could be high as half-year earnings are soon to be announced. We will watch the counter in today’s trading to see if it rallies further.