Transcorp Power Rallies 23% in One Week as Share Price Hits N219.60

Transcorp Power Plc gained 23.37% last week as sustained buying pushed its share price from N178 to N219.60 despite a broader decline in the Nigerian equities market.

The power company’s shares added N41.60 during the week ended November 6, 2026, making it the second-best-performing stock on the Nigerian Exchange behind Honeywell Flour Mills.

The rally gathered momentum during the week, with Transcorp Power jumping 9.97% from N184.60 to N203 on November 4 before extending its advance to N219.60 by Friday.

From its opening level of N178 for the week, the stock delivered a gain of N41.60 per share.

An investor who committed N100,000 around the N178 level at the beginning of the week would have recorded a paper gain of approximately N23,370 by the end of the week, excluding transaction costs.

Transcorp Power’s performance was particularly notable because it came during a difficult week for the broader equities market.

The NGX All-Share Index declined 2.13% from 254,299.49 to 248,877.22, while 57 stocks closed lower compared with 29 gainers.

Major market indices also finished predominantly lower. The NGX Premium Index declined 3.88%, the Banking Index fell 2.45%, while the Industrial Goods and Oil/Gas indices dropped 4.35% and 3.72%, respectively.

Transcorp Power therefore moved sharply against the broader direction of the market.

The company’s 23.37% weekly advance was also significantly larger than the gains recorded by most other stocks.

Honeywell Flour led the market with a 30.82% increase to N29.50, while eTranzact International followed Transcorp Power with a 14.42% gain to N18.65. AXA Mansard Insurance and The Initiates gained 9.77% and 9.57%, respectively.

The move above N200 also marked an important extension of Transcorp Power’s recent momentum after the stock started the week below that level.

With the share price ending at N219.60 following a gain of more than 23% in five trading sessions, attention will now shift to whether buying interest can sustain the rally or whether investors who entered at lower prices will begin taking profits after the sharp weekly appreciation.