The securities exchange finally crossed the 4000 mark 2 days ago and has thus far kept on gaining. Today we shall be keeping our eyes on Standard Chartered Bank rights, Uchumi Supermarket and Transcentury Limited.
A summary of yesterday’s trading activities can be found here.
COUNTERS
- Transcentury Ltd – The company is looking at possible changes in control in Chai Bora, the group’s tea blending and packaging subsidiary. The company issues a cautionary announcement to the public which could see the stock’s price take to material movement. The counter was the top loser yesterday at 6.82% (having lost KES 1.50) and closed at KES 20.50. We shall be watching to see if the price will further dip.
- Uchumi Supermarket – Uchumi’s profit before tax has dipped 22% and stands at KES 403 Million. This may have a damaging effect on the stock’s market valuation as shareholders had driven its price up in anticipation of profits in the company’s full year results. In the past 2 weeks, the share price has hit its highest price having hit KES 19.90 yesterday and trading over 1 Million shares. We shall be monitoring the shares price today to see whether the full year results and profit dip will affect share price.
- Standard Chartered (Rights) – The rights were trading at KES 62 yesterday, down from KES 64.50 on Monday. The shares are currently trading at a premium and demand for the rights is high with low supply (only 600 were traded yesterday). We shall be keeping an eye on the counter to see the profit margin the shareholders are seeking.