- Diamond Trust Bank – The bank’s shares appear to be trading high on the back of a just concluded rights issue that closed 2 weeks ago. Since then, the shares have fluctuated between KES 99 and KES 92 compared to below KES 95 for most of the year apart from in May and June just before and during the rights issue. Results of the rights issue are due in early September. DTB shares were the second most gaining shares yesterday, closing at KES 99.50 having gained 4.74 percent. The bank is in partnership with the Nation Media Group to handle the financial end of NationHela, an international money transfer service. This could point to a growing financial future for the bank and pique investor interest in addition to a potentially successful rights issue. We will watch the share in today’s trading to see how it fairs.
- Bamburi Cement – Shares in East Africa’s largest cement producer gained yesterday to close at KES 179 per share; 6 shillings shy of the year’s highest of KES 185. Since June, Bamburi shares have rallied on investor interest as one of the highly sought after blue chip shares with the resurgence of investor activity at the Kenyan stock market this year. Read more here. We will watch Bamburi toady to see if it edges up further.
- Nation Media Group – The share yesterday topped previous highs to close at a new 3-year high of KES 189 per share. This counter has been rallying since the Group posted financial growth in most of its businesses for the six months to June this year. Read more here. We will maintain watch on the share today to see it tops yesterday’s price.
