Stock to Watch   

19th June, 2019

On the Bid Cart: DANGSUGAR led the bid cart today after gaining 909bps to settle at
N12.00. The FMCG owned by Africa's richest businessman, has gained 13% this week after dipping  21% to its year low of N10.60 from the end of May till the end of last week. As such the rally appears to be an effect bargain hunting on the deflated price of the fundamentally sound stock. DANGSUGAR controls over 60% market share of the sugar industry in Nigeria making the company the market leader, however, just like the rest of the industry, DANGSUGAR is exposed to the threat of smuggling. The stock has declined 21% YTD. 

On the Offer Cart:  WAPCO declined 402bps today to settle at
N9.55 (five-year low) after remaining relatively flat this month. The decline can be attributed to the company being named among listed companies that failed to meet the timely disclosure of audited annual financial statements requirement of the exchange. WAPCO has seen a 76% decline from July 2018 till date, plagued by weak South African operations.

Reporting for EasyKobo on Wednesday , 19 June 2019 in Lagos, Nigeria

Source: Vetiva Capital Management Limited

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