MTN Nigeria Surpasses Airtel, Becomes Most Capitalized Stock on NGX

MTN Nigeria Plc has surpassed its counterpart, Airtel Africa as it becomes the most capitalized stock on the Nigerian Exchange Limited (NGX).

The Telecom giant took the leading spot with a N63 billion margin to close at N5.32 trillion market capitalisation, while Airtel Africa’s market valuation stood at N5.2 trillion.

Prior to this, Airtel was at the top spot in the 1st quarter of the year, with a market value of N4.34 trillion, surpassing MTN Nigeria and Dangote Group.

It was the blooming season for Airtel Africa – the business began trading on the NGX with a market capitalization of N3.94 trillion, increasing by N394.605 billion to close at N4.34 trillion, reordering 10%.

In addition, Airtel’s stock rose to N1155.50 per share, up from N1050.50. Its stock price increased by N105 or 10%.

Recall that Investors King reported the leading companies’ statistics for the year,  giving further insight with the formula table of activities and profits!

MTN Nigeria Plc ended the week on a high note, with its share price rising 15% from N227.50 to N261.60 per share, up from N227.50 the week before. During the week, this raised the company’s market cap by N694 billion.

Investors’ optimistic feelings generated buy-interests in the company’s shares, resulting in a market capitalization increase of N694 billion at the closing of trading on the Nigerian Stock Exchange.

The NGX Premium Board Index, which the company’s shares trade under, rose 3.83 percent this week from 5,097.38 points to 5,292.40 points, owing to the increase in the company’s market capitalization.

MTN N had reported a profit of N97 billion in the first quarter of 2022. This represents a massive 31.28 percent growth over the N74 million in the same period of 2021.

Furthermore, MTN declared a N8.57 kobo reward for FY 2021, which was paid on April 28, 2022, while profitability for the first quarter of 2022 was N4.76, up 31.49 percent from N3.62 in the first period of 2021.