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  • Business - Economy
  • Updated: June 21, 2021

Nigerian Stocks That Have Doubled in Value This Year

Nigerian Stocks That Have Doubled in Value This Year

Nigeria's stock market has been on a rather weak run this year, especially when compared to the fact that it was the world's best-performing market last year.

With the NGX All-Share Index down -4.03 percent year-to-date, one might easily conclude that there hasn't been any "action" in the markets, the N20.13 trillion market has produced some big winners this year — people who picked the right stocks at the beginning of the year would have seen their investments double.

While crypto-assets such as Bitcoin have been the most talked about this year,  with most of them already bowing off the larger part of their gains, certain medium-cap companies have had their investors smiling to the bank this year. Here are the top 5 best-performing stocks this year.

Consolidated Hallmark Insurance (CHIPLC)

After a not-so-good first quarter, Consolidated Hallmark insurance has become one of the best-performing stocks this year, ranking number five in year-to-date return.

Consolidated Hallmark Insurance began the year with a share price of N0.32 and has since gained 109.38% on that price valuation. Shareholders will be pleasantly optimistic about CHIPLC knowing that the stock has accrued 31.37% over the past four-week period alone. CHIPLC is currently trading at N0.67 per share, with a market cap of N7.17billion. See company profile here.

Regency Alliance Insurance Plc (REGALINS)

This multifaceted insurance company has warmed its way to the hearts of investors, making it the fourth-best performer on the local bourse this year. 

Regency Alliance Insurance Plc started the year with a share price of N0.22 but has since had upward momentum, driving it up to N0.46 per share to make a 127.27% gain this year. In the past four weeks, which have been rather devoid of gains for most cryptos, (REGALINS) gained as much as 47.06%, and now has a market cap of N3.33 billion.

Formed on June 16, 1993, in Lagos, Nigeria, Regency Alliance Insurance Plc is a general insurance company that serves both business and individual clients. Non-life, Properties & Investment, Retail & Microfinance Bank, and Vehicle Tracking Services are the company’s four segments. The non-life section includes any contracts with a short term. The Microfinance Bank division provides retail and microfinance banking services. On a daily basis, the Vehicle Tracking Services segment sells and installs vehicle tracking and fleet management solutions.

Champion Breweries Plc (CHAMPION)

This N15.5 billion brewing giant has lived up to its name this year, beating harsh economic conditions to become the third-best performing Nigerian stock this year. 

Champion Breweries (CHAMPION) is currently trading at N1.98 per share, up 130.23 percent from its opening price this year of N0.86. However, this stock has had a bit of a whipsaw performance in the last four months which made it lose 6.6 percent of its value. See company profile here

Royal Exchange Plc (ROYALEX)

After a whipsaw start to the year, in which it lost all of its initial gains in the first two months, Royal Exchange Plc has made an epic comeback to become the second-best performing stock this year.

Royal Exchange Plc, which started the year at N0.26 per share has since gained 176.92 percent to its current trading price of N0.72 per share. In the past four weeks, ROYALEX has impressed investors with a 5.88 percent increase in value.

Royal Exchange Plc is in the insurance and financial services business. Non-Life Insurance, Life Insurance, Financial Services, Healthcare, and Asset Management are the company’s business segments. Royal Exchange General Insurance Company Limited is part of the Non-Life Insurance category. Royal Exchange Plc and Royal Exchange Microfinance Bank Limited are part of the Financial Services segment. Royal Exchange Healthcare Limited is a healthcare company. The Royal Exchange Finance Company Limited is in charge of the Asset Management division. The company’s headquarters is in Lagos, Nigeria, where it was formed in 1918.

Morison Industries Plc (MORISON)

In an unprecedented twist of events, this company has rebounded from last year's plunge to stand tall as the stock market's best performer this year.

Morison Industries Plc opened for the year with a share price of N0.49 and has since gained a whopping 177.55% on that price valuation to reach its current price of N1.36. This stock is not showing any signs of backing down as it has accrued 44.68% over the past four-week period alone. See company profile here

Disclaimer: The goal of this article is to provide essential insight into top-performing financial assets in Nigeria. It should not be construed as investment advice or guidance, as Allnews recommends that such services be sought from a licensed financial adviser.

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