Do you guys think it is right time to buy oando or transcorp stocks now that the price have declined.


July 15 (Lagos) - While the free fall in Nigerian stocks is affecting almost all stocks listed in the Country few stocks are getting hammered as badly as OANDO (N 12.1 per unit) and TRANSCORP (N 2.08 per unit). Both stocks hit fresh 1 year low price today.


Both OANDO and TRANSCORP have lost more than 15% in the past 2 trading sessions. While the decline in TRANSCORP has to do with less than impressive results released by the Company (PAT of N 4.28 billion for Q2), the decline is OANDO is not really down to any particular factor.



There are other oil and gas stocks which rose today like FO (by over 8%) so its hard to say that OANDO is declining because of crude oil price outlook.


OANDO exited the downstream business last month when it sold majority stake in the business. This was a move that analysts liked and expected the stock to respond positively.



All those expectations have gone for a toss and any investors have been left holding the bag.



http://www.easykobo.com/News.aspx?id=10064

no I will not advice you to buy those stocks. they are too risky. instead look at banking and insurance stocks like aiico insurance nem insurance or guaranty trust bank skye bank uba and first bank.

For Oando, there was an incident on one of their platforms that resulted in the death of 13 workers. Investors are reacting to that news majorly at the moment and the stock may bottom out.

davide470:
For Oando, there was an incident on one of their platforms that resulted in the death of 13 workers. Investors are reacting to that news majorly at the moment and the stock may bottom out.

... Damn, sad news... 13??

I hope they get over it soon... They used to be a good buy...

MarvellousGod:
... Damn, sad news... 13??

I hope they get over it soon... They used to be a good buy...

Yeah. Really sad news. Worst Onshore incident this year.

The negative sentiment surround the oando stock is very high. The company only released its Audited result for 2013 and Q,1 and Q2 results for 2014 but its audited result for 2014 is not yet filed with NSE not to talk of Q1 and Q2 2015. Its EPS is very low, it P/E is 80+ All these plus faling crude oil no economy policies direction make the oando stock to fall. It will still fall more than N12. It has not bottom out. Transcorp droped by 5.2 percent in Revenue and also drop 11.8 percent in EPS in Q1, EPS was also droped in Q2 2015 by 45 percent. This poor performace droped its price daily. Its price has not botom out, is still going to fall further.