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Dangote Cement market capitalisation reaches Ghs 53.4 billion

5 years ago
in Business, highlights, Home, home-news, latest News, Markets
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The market capitalization of Dangote Cement Plc increased from N2.73 trillion (Ghs 41.8 billion) at the open of trade on the 2nd of November 2020, to N3.49 trillion (Ghs 53.4 billon) at the close of trade on the 30th of November.

Further checks revealed that the market capitalization of Dangote Cement Plc increased by 28.13 per cent during the period under review.

The drive behind the gains

It is important to note that the increase in Dangote Cement’s market capitalization was driven by the renewed buying interests by investors in key Nigerian stocks with huge values and impressive fundamentals.

This hunt for value on the bourse led to a wild increase in the share price and also the market capitalization of key companies on the Nigerian Stock Exchange in the month of November.

However, the renewed buying interest can be attributed to the strong performance which Dangote Cement displayed in the third quarter of 2020, despite the challenging macroeconomic environment.

Given the strategic positioning of the cement producer in the industry;

  • Dangote cement reached a record high EBITDA margin of 24% in the third quarter of 2020.
  • Group net profit of N82 billion, which is 135.1% higher than the profit reported by the Group in the third quarter of 2019.

This strong performance made analyst review their models, and also the Group’s valuation, this however triggered buying pressures in the shares of Dangote Cement, with its market capitalization increasing by 28.13% for the period under consideration.

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Market capitalization is the aggregate valuation of a company based on its current share price and the total number of outstanding stocks.

Market capitalization tells how much investors value a company, and gives an idea of what a company is worth on the stock exchange, as well as investors’ perception of a company’s future prospects.

Source: nairametrics
Via: norvanreports
Tags: Dangote Cementmarket capitalisationNigerian Stock Exchange
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