SMN Top 5.(2nd quarter result) 2
July 5th, 2007 Ogbuotobo Chuks || chuks@stockmarketnigeria.com
BY Ogbuotobo Chuks
Fidelity Bank
This is one of our best stocks in the portfolio. The company presently is attracting the attention of investors, in expectation of its full year results. We have achieved an appreciation of 138 percent on this stock, as we bought at N4 and it closed at N9.52 on June 29,2007. We purchased 2,230 units of the stock and will still hold as it has inherent abilities to create more wealth.
Benue Cement Company.
The price of this stock has not really rallied points since we purchased it, but we decided to hold due to some future prospects. We believe that the by effect of Obajana Cement will rub off on BCC. Also, the rate of construction activities is on the increase and as such, the use of cement would also increase. A total of 174 units were bought at N60.00 but the price at the end of the quarter was N54.00. we however got a bonus of about 21 units which is fair in view of other things.
After calculating, the net value of the portfolio stood at N66,623.20, from an initial investment of N50,000. This indicates an appreciation of 33.24 percent. With two quarters to go, we believe that with sound management an skill, we would hit 80 percent or more.
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