BUA Halts N237.050bn Loss In February, Gains N93.126bn In 24 Hours Trade
BUA Cement Group has halted its N237. 050 billion loss in February on the Nigerian Stock Exchange (NSE) with a N93.126 billion appreciation on its equity at the commencement of trading in March.
BUA Group, a member of the industrial sector on the Nigerian bourse had lost N237. 050 billion in February, which represented an 8.86 per cent dip on its stock.
A review of its trading activities in February shows that its share price which opened at N79 per share on February 1st, 2021 fell to N72 per share at the close of trading for the month on Friday February 26.
It’s market capitalisation for the month also declined to N2.438 trillion down from N2.675 trillion.
The huge loss by the BUA group was as a result of sell-offs due to profit taking by investors on the NSE in February.
However, as trading began in March on Monday, the Cement company posted a 3.82 per cent or N93.126 billion growth on its market share.
BUA Group began Monday’s trading session at N2. 438 trillion market capitalisation to close at N2.531 trillion, with a percentage gain of 3.82 per cent.
The value of its share price also climbed to N74.75 per share up from N72 per share, while It’s outstanding shares stand at 360,465,985.00.