Fifteen stocks recommended by investment firm, Investdata Consulting Limited, have outperformed the All-Share Index of the Nigerian Exchange Limited in over nine months.
According to a statement from the firm on Monday ahead of the Invest 2024 Traders & Investors Summit, the NGX ASI grew by 38.98 per cent, but the selected stocks appreciated by 103.55 per cent between December 2, 2022 and Friday, November 24, 2023.
It was revealed that the best capital appreciation among the recommended stocks was Transnational Corporation of Nigeria which opened for the period at N1.17 per cent and closed last Friday at N6.40 per share. This represented a capital appreciation of 447.01 per cent.
It was followed by Dangote Sugar Refinery, which returned 270.37 per cent, opening at N16.20 and closing at N60 with a peak of N71.50, helped by the ongoing merger plans with sister companies into production of edible salt, tomato paste and rice into an integrated food company.
Eterna Plc was next as it recorded significant appreciation in its capital, as those who took position immediately after the recommendation was made in December last year at N5.34 each have seen their investment appreciate to N13.60, representing 154.68 per cent. Eternal stocks reached an all-time best of N37.70 per unit during the period under review.
Stanbic IBTC followed with a 112.77 per cent capital appreciation, after closing at N65, up from N30.55 at the beginning of the period, touching a high of N85.05 each, within the period; ahead of TotalEnergies which returned 99.48 per cent to close at N385from the N193 openng price. Access Corporation, whose share price appreciated from N8.70 each to N17.35 per share followed closely with 99.43 per cent capital appreciation, after touching a high of N19.85 each within the period under review.
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