Our focus today on Nairobi Securities Exchange stocks watch shall be on the telecommunication and technology sector with specific attention to the Safaricom counter. We shall also be looking at the Standard Chartered Bank and Williamson Tea Ltd counters.
See a summary of last Friday’s share trading here.
- Standard Chartered Bank – The bank is set to commence the second rights issue tomorrow. We shall be watching to see if shareholders will react to increase stock price in light of the offer tomorrow. Increased share price prior to rights offer will effectively increase the low price the common will hit after the rights are cleared for trading.
- Williamson Tea Ltd – The counter saw 53,000 shares changing hands during the week to closed at KES 200.00. The shares started at KES 220 at the beginning of the month and have seen a 9% decrease in 1 week. We shall be looking to see if the trend shall continue or if it shall rally back to the month’s high.
- Safaricom Ltd – There has been a tussle about excise tax on money transfer that may (or not) see consumers charged more for money transfer by the money service provider. We shall be looking to see if there will be any reaction from shareholders.