Activity spikes on BATU counter
Apr 24, 2012
The British American Tobacco Uganda (BATU) counter has seen the single biggest rise in activity from last week. By close of business on Tuesday, 2,540 shares had been sold for a lower share price of sh2,065, from sh2,095 last week, making sh5.2m for investors.
By Samuel Sanya
The British American Tobacco Uganda (BATU) counter has seen the single biggest rise in activity from last week.
By close of business on Tuesday, 2,540 shares had been sold for a lower share price of sh2,065, from sh2,095 last week, making sh5.2m for investors.
There were 8,078 shares in the outstanding offers basket on the BATU counter, as the news of the sh450 dividend per share continues to take effect on the bourse.
Shares on the Bank of Baroda (BOBU) counter are starting to move, with 391 sold for sh195 each, to rake in sh76,245.
Outstanding offers on the Baroda counter were greater than those on the BATU counter, as 135,389 shareholders continue to search for a higher share price in light of the sh4 per share dividend promised by company management.
Uganda Clays (UCL) counter continued to record strong activity for a second week running, with 31,045 shares traded on Tuesday alone, bringing in sh1.2m.
Demand has consistently grown on the UCL counter, with outstanding bids standing at 210,433 shares, from last week’s 471,158 shares against outstanding offers of 181,776 shares on Tuesday, from 108,000 last week.
It is pleasant that outstanding bids outweigh outstanding offers on the UCL counter, as this is a clear indication of renewed confidence in the company’s stock.
Stanbic Bank (SBU), the pace setter on the bourse, sold 13,628 shares for sh100 each, to bring in sh1.4m, with the share price having tested highs of sh105 last week.
Outstanding bids on the SBU counter stand at 562,506 shares, with no outstanding offers to sell, typical of satisfied shareholders.
Stanbic Bank has just contributed sh50m to Junior Achievement (JA), a student entrepreneurship programme to spur the youth into more prudent investment choices.
“Volumes on the bourse are still low. It would be nice to have a partnership between the Uganda Securities Exchange (USE) and Junior Achievement to increase activity through the student investors,” said Racheal Mwagale, the Junior Achievement business development and communication manager.
Ugandan businessman Patrick Bitature is the patron of the programme that support over 40,000 children from secondary school to university.
Uganda’s leading daily, New Vision, and dfcu Bank counters recorded zero movement on Tuesday, while the Kenya Airways share price moved up to sh423 per share, from the previous sh418 per share.
The all-share index went up to 1,010.71, from 992.32 last week, while the local share index fell to 194.88, from 195.05 last week.