₦airaland Forum

Agbalowomeri:
Lol if dem delay the info na still Una go complain

NASCON publishing the information timely is the right thing. Withholding such information is not right.

Raider76:
You are right that SEC is rediscovering its teeth. This increases the possibility that we may wake up one day and hear that Oando's trading is suspended just like the JSE did. That will throw lots of people into despair.

A bad probability. But will likely not happen as OANDO has laid out plans to issue its reports and published it on NGX.

Streetinvestor2:
Madam dangota products cannot be in existence and we don't see it on the street. HE has good logistics for his businesses Your first link was 2018 and anything can happen to business within then to now.You remember dangota flour was dead and sold off too.
The second link did not say dangota produced the rice that was distributed as charity. He could repackag the rice in his name.it is a normal thing.
I don't see sugar going below #30 .It was simply,alhaji wanted to use rice to accumulate sugar to himself which I had started in the past.

The big lesson, it looks sec is beginning to wake up to its responsibility. Onado delisting will not scale through sec at ridiculous price. There is hope now for oando shareholders

Good to read the bolded. Which is probability 2, which follows the path of the court giving the go ahead for delisting.
I still bet on probability 1 which is the court will squash the buy out.

TsarZed:
PBT growth of 774%, interesting!

Softly softly

Growth is still on track. Excellent Growth.
2003 FY PBT = N53b
2004 Q1 PBT = N29b

Also try and look at PAT, as the tax man is collecting more.

Princkez:
https://doclib.ngxgroup.com/Financial_NewsDocs/40927_TRANSCORP_POWER_PLC-_QUARTER_1_-_FINANCIAL_STATEMENT_FOR_2024_FINANCIAL_STATEMENTS_APRIL_2024.pdf

Nice Q1
Growth is on course

sky2891:
Calm with fingers crossed.

Raider76:
Body language. Read all their company announcements on the court case. They always refer to their "Scheme of Arrangement.." what does that say?

Make we dey watch the drama. Audited 2022 Results will soon be out with a fat loss and or negative shareholders fund followed by 2023 interim results that will suggest a turnaround (partial or full).

BabsO2:
Oando

Price pushed up to close at N11.90 minutes before market close.

This last seconds bull(s) may be up to something. Make we watch

Raider76:
Can't understand why WT still insistd on delisting OANDO. After all the tremendous opportunities for wealth growth

Where did you get him saying he insists on delisting. He never said such at the last AGM in Nov 2022. Rather he bragged of how he has turned the company around for shareholders. And how things are poised for good.

Oando

Price pushed up to close at N11.90 minutes before market close.

emmanuelewumi:
Today's red was too deep. The auction was yesterday and unsuccessful investors were refunded to the tune of about N300 billion, yet the
market lost over 1% today. Thet is the highest in a long time

Look at the chart I shared for NSE 30 daily candle pattern.
Or this one here for the all share index
The dips line up with the auction dates in Feb, Mar & April.
The dip in January was the day after the auction.
The February bond auction day dip was the biggest. Not surprised because of the interest rate jump from 16 to 19% (Jan vs Feb auction results for 10 year bonds)
The March dip was small (perhaps due to no major bond interest rate jump and high expectations while waiting for audited results to be released).
This Apr auction day dip is far smaller than the Feb dip.
However last five days suggest a trend downwards in the NSE 30 and NSE All Share Index. But I am seeing a support forming today. Next three days will tell us more . Nothing is cast in stone with Mr Market, he has a mind of his own.

BullBearMkt:
"The dumpers are waiting for the dividend hunters 😂" - Agbalowomeri

Looks like market makers for the banking recapitalization were also mopping up shares.

emmanuelewumi:
People and institutions buying bonds don't sell shares in order to invest in bonds.


Over N900 billion was bidded yesterday but over N600 billion was successful.

Where is the extra N300 billion returned to investors?

They will rather invest it in fixed deposit or money market fund for 28 days to 30 days earning about 15% and the bid again in the primary market next month or better still buy in the secondary market from today

Stuff like this is not cast in stone as the various people involved have various dispositions.

The size of the bond market trade in the monthly auction is bigger than the sum of trades on the NGX in most months I guess. The data is readily available. Nothing stops me from selling FBNH at N40 to buy FGN bonds when the opportunity came up. Neither did anything stop you from selling DS when you did to key the proceeds into bonds. And this happening can be a reason for the pull backs observed in the last picture i pulled from investing.com

emmanuelewumi:
Why didn't see the effects of those whose bids didn't succeed in the stock market today.
Keeping your cash in fixed deposit till the next primary market offer is also a strategy

Locotrader:
I am concerned about the market itself not oando.Oando may sail through tomorrow but this type of red in the market is not what you go to bed and sleep with both eyes closed.

Looking at NSE 30, the monthly bond auction dates seem to align with red days in the market. Most likely it's the same effect with the main all share index. (Did not find the all share index readily so I made do with the NSE 30 as it should be representative enough)

Looking at the past the market should recover in about 3 days if this current red is due to the demand for funds from the bond market.
But this April deep started some days before the auction, so there is a possibility recovery will be faster or perhaps slower. It's starting earlier may also be due to funds required for the holidays last week. The first market deep was also on Jan 29, the auction date for that month.

Locotrader:
You bought at good price today.
It will close arnd 12.50 to 13 today

It is still at N12.10 with about a million units on offer at that price. With 30 minutes to go let's see if there is a surprise mop up.

Market reaction to impending case this time is different. Perhaps an indication that the outcome of the case will be different tomorrow

OANDO sighted on full offer @#12.10K

Immediately I press buy the transaction went through just now.
If them like make them adjourn the case tomorrow. Better they just cancel the case o

Adinije:
DS/NS follow banks dey dip, if bank appreciate now, they will not

Streetinvestor2:
Single digit for bond is not possible oh.You should say btw 12 -15%

Lots of stable nations are running on single digit. It is possible.
Double digit is a sign of bad economy. For us insecurity is a major cause of our bad economy amongst so many other vices. Me that like farming i just can't go farming anyhow despite the massive yields possible. Only the likes of PRESCO & OKOMU have demonstrated the untapped comparative advantage in farming.

yMcy56:
Ok thanks.
So it's Bonds today again.......issokay o.

I think till the bond rate (and inflation rate) go down properly; the market will struggle to rise well.

Bond rates need to go back to single digit for the economy to stabilize.

yMcy56:
This volatile Market self!
What's the cause of today's dumping again?
Inflation level or what again?
Today's trade doesn't look like the usual bear market from my point of view..

I think it is temporary. Tied around the bond auction of yesterday. The auction marginal rates started going down self. Some of those that bided too high and got nothing will come back to the market sooner or later.

DrAkpamudehe:
So what is the difference between #2.30 and #2.70 ? In accounting and public finance, little financial errors are permissible.

He was just making unnecessary fuss in a casual discuss. Where we even always say from time to time do your DI as most of the write up's here are pointers written in one go and not double or triple checked to weed out errors . Pointers for the discerning investor.

Perhaps fat cat investors are taking position in bonds to balance their portfolios. Yesterday's bond auction was at 20% for the 10 year bond. And this ten year bond gathered N462b of the total N627b auctioned. As investors locked in for the longest duration auctioned.

222Martins:
So you mean if i buy UBA today, i will get paid N2.70 dividend by 24th of May? Just dey play!!! I don't know if you guys just like to deliberately misinform people. The dividend to be paid to anyone that enters UBA today is N2.30, that is 10% on an entry price of N23; as against the N2.70 you all are trumpeting.

it's N2.30 not N2.70

DrAkpamudehe:
That is 11.25% profit at the current price if U buy now to get paid by the 14th of may

All those that buy till the 10th of May will get paid N2.30 on the 24th of May.

Adinije:
Everywhere Red

Even Oando this time around is no more rallying in anticipation - that the court case may be favorable to ordinary shareholders tomorrow. Gloomy market today

DrAkpamudehe:
UBA @ 24#. Enter now, you may never get it this cheap again this quarter

Don't understand this market. The current price carries a dividend of N2.30 that will be paid in a months time.

2zona:
God abeg oo, world war III has been trending since yesterday oo, Iran, Israel and co. Hope they will spare our fragile market_?

Amen

Mpeace:
You go dey believe politicians, Dey play.

But sha I pray the economy recovers. I pray.

I just join in prophesying and praying. Many of us want to see the market rising for the rest of the year and coming years sef.
It will be excellent to see the banks and NGX listed companies continue to grow and the $1T economy achieved.

BabsO2:
I think the capital raise is indeed to support the $1T economy.
Long term investors need to watch the GDP growth of the economy. The kind of growth that occurs will suggest the likely growth in bank incomes. Most likely the quarterly reports of the banks will be released before GDP data. If both align in a growth direction it means the recapitalization of the banks is delivering results. The rate of growth at individual bank level as well as group level will suggest the quality of the growth the banks & government is achieving. Poor growth signals trouble in the horizon.

Economy will roar back in coming months - Tinubu

Kwibaba:
I also do not agree that it is common sense that those are the only 2 objectives of the recapitalization. What happened to the plan of 1 trillion economy of the govt? How do they achieve that by staching money away?

I think the capital raise is indeed to support the $1T economy.
Long term investors need to watch the GDP growth of the economy. The kind of growth that occurs will suggest the likely growth in bank incomes. Most likely the quarterly reports of the banks will be released before GDP data. If both align in a growth direction it means the recapitalization of the banks is delivering results. The rate of growth at individual bank level as well as group level will suggest the quality of the growth the banks & government is achieving. Poor growth signals trouble in the horizon.

chipa:
The banks are not superman but know that a lot of financial dynamic has occurred in the economy since after the the 31th Dec 2023 and the banks are going to utilize those opportunities to maintain the status. I will like to list some as
(1) The interest rate on loan has increased to upto 600 to 1000 points and still counting.
(2) The rate on Treasury bill has increased to upto 600 points.
(3) The increased in retained earnings has been deployed for service.
(4) The 1st quarter revaluation will be done at N1300 as of 31/03/2024. Which appears to be as the same rate of increase in half Year audited results of 2023 or slightly lower.
I will advise you to wait and see the earnings that will be coming from the banks in 1st quarter financial report.

The revaluations are not done at current market rates like that. But at very conservative rates less than N800.
One can use ETI reports which are published both in NGN and USD to estimate what rates are being used by the banks to compute their translations.

chillykelly86:
You may need to shed light on this. If possible, direct us to the page on the Annual report.

However, I think tier 1 capital is simply tier 1 capital. The question to ask is: do the other banks you said are not doing so have USD tier 1 capital? What USD tier 1 capital will result in is a fluctuation in equity( closely following fluctuations in exchange rates, to the extent/ratio of the USD tier 1 capital to total equity), not miscalculation. It's equity that will never be paid back, isn't it?

Look at page 57 the line item for Additional Tier 1 Capital
Look at page 204 note c(ii)

The AFS has no misstatement.

But the computation of BVPS of N70 is a misstatement. As that is not net assets a common NGX shareholder is entitled to.