- Silver lining in the Safaricom split narrative
- Equity Bank is strong but with an Achilles heel
- Safaricom: Value Investing Against Bear Runs
- PesaLink: the silver lining in bank stocks
- Ditch that Merry-Go-Round Club Now
- Weak shilling, subdued market, great opportunity!
- Investing Through NSE Bear Runs
- Is there Hope for Kenya Airways?
- REITS 101: A Premier on Real Estate Investment Trusts
- The Leading Supplier of CO2 in East Africa
- Atlas Development Support Services - Why Ethiopia?
- A brief on Equity Group Holdings
- The Potential of Kengen
- Part 9: Being a Good Company Does'nt Mean Being a Good Stock
- Why you should accumulate Safaricom shares
- Part 8: Buy the Rumour, Sell the Fact
- Part 7: You Can't Go Broke Taking a Profit
- Part 6: A Paper Loss Is Not a Loss
- Part 5: If Institutional Investors are Buying, Then The Stock Must Be a very Good
- Part 4: Cut Your Losses and Let Your Profits Run.
- Part 3: Buy the Stock That Splits
- Part 2: The Stock Market Rises as the Bond Market Falls
- Part 1: Buy When There Is Blood on the Street
- Centum: Potential Upside with a Price Target of KES 142.67
- Bamburi Cement: Valuation scenarios using the dividend discount model
myStocks Blog & Market Commentary
Kapchorua Tea posted an 18.9% jump in profitability in 2013 to stand at KES 180 million from KES 78 million. Sales dropped marginally to KES 1.35 billion from KES 1.4 billion due to declining tea prices and increasing production in the period. Its stock price has remained robust, up 28% year-to-date and 132% since 2008.
Housing finance full year results for 2013 are out. The consolidated group's profit after tax stood at KES 995 million, a 33.9% growth from the 2012 full year results.
ABNís David Williams speaks with Daniel Chege, Equity and Fixed Income Dealer at Cannon Asset Managers, looking at: Treasury warning of investor fears of political violence around the elections, Kenya Airways woes around executives and fleet, Safaricom a darling of the NSE; Close 20-yr bond sale today
Daniel Chege, Fixed Income Dealer at Cannon Asset Managers, looking at: NSE 20 share index closed 0.86% lower; Eveready EA posted a KSH 68.9mn in FY PBT; Co-Op bank has produced a loan of $60mn from the IFC
Recap of day's trading
In July 2012 inflation rate dropped more than the market had anticipated to 7.74% and subsequently interest rates have fallen with 91-days TBills currently at 8.58% as at 24th August 2012. The fall in inflation gives MPC room for further CBR cut during next month meeting and concern on stability of Kenya Shilling to be addressed by CBK continually mopping up liquidity.
The panic reaction from the MPC has been set off by the public outcry that has followed the exchange rate crossing the psychological barrier of USD 1 = KES 100. The public outcry has led to the setting up of a task-force by the Prime Minister to advise on the exchange rate as well as a parliamentary enquiry into the causes of the decline in the Kenya Shilling.
The Central Bank of Kenya proposes to issue a new Infrastructure Bond IFB1/2011/12 on 3rd October 2011. This is the 5th Infrastructure Bond being issued by the CBK.
Overnight interest rates went on a roller coaster ride in August, rising from 6.7% on 10th August to a high of 28.40% on 26th August and then down below 6% by 9th September. In our last month's newsletter we had forecast that our Pessimistic scenario of interest rates was starting to play out and that the 91-day Treasury bill would rise to 11-12% in the next few months.
In the statement issued by the Monetary Policy Commitee (MPC) following their meeting, the committee noted that "the market had confused the role of the CBK Overnight Window rate as a signal of monetary policy". Further it was clarified that the "Overnight Window Rate" was in fact an outcome of the CBR, a penalty, and a measure of market tightness
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AgriculturalEaagads LtdKakuziKapchorua Tea Company LtdLimuru Tea Company LtdSasini Tea and Coffee LtdWilliamson Tea Kenya Ltd
Automobiles and AccessoriesCar and General (K) LtdCMC Holdings LtdSameer Africa Ltd
BankingBarclays Bank Ltd
Commercial and ServicesDeacons (East Africa) PLCExpress LtdKenya Airways LtdLonghorn Kenya LtdNairobi Business Ventures…Nation Media GroupStandard Group LtdTPS Eastern Africa (Serena)…Uchumi Supermarket LtdWPP ScanGroup Ltd
Construction and Allied
Energy and PetroleumKenolKobil LtdKenya Electricity Generating…Kenya Power and Lighting LtdTotal Kenya LtdUmeme Limited
InsuranceBritam Holdings LtdCIC Insurance Group LtdJubilee Holdings LtdKenya Re-Insurance…Liberty Kenya Holdings LtdSanlam Kenya Plc
InvestmentCentum Investment Company…Home Afrika Ltd
Investment ServicesNairobi Securities Exchange…
Manufacturing and AlliedBOC Kenya LtdBritish American Tobacco…Carbacid Investments LtdEast African Breweries LtdEveready East Africa LtdFlame Tree Group Holdings…Kenya Orchards LtdMumias Sugar Company LtdUnga Group Ltd
Telecommunication and Tech…Safaricom Ltd
Real Estate Investment TrustsStanlib Fahari Income-REIT