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Markets

TransCentury share gains 25pc on Kuramo Capital rescue plan

A Nairobi Securities Exchange staff on the trading floor. PHOTO | FILE
A Nairobi Securities Exchange staff on the trading floor. PHOTO | FILE 

The listed investment group TransCentury share last week remained the star performer at the Nairobi Securities Exchange following months of underperformance.

The stock rose 25.13 per cent from the previous Friday as investors continue to digest the news of a rescue plan by Kuramo Capital.

The share price rose to Sh12.20 from the previous week Sh9.75. In the previous period, the share had rallied 48.8 per cent bucking a trend where most stocks, especially banks, were either falling or stagnating.

On the losing end was media firm Standard Group that shed 16.98 per cent to end at Sh17.85 compared to Sh21.50 the previous week. Another large loser was the troubled Uchumi Supermarkets with 13.16 per cent drop to Sh3.30.

Last week, detectives grilled former top Uchumi officials over irregularities at the supermarket chain.

Another loser was Olympia Capital, which slumped to Sh2.25 a share representing more than 18 per cent fall. The company has over the years been dogged by poor performance.

Eveready East Africa continued on a losing trend shedding 9.76 per cent to Sh1.85. The firm like sister Sameer Africa has ditched its core business of manufacturing, instead settling for whole selling imports.
Bank stocks seemed to have stabilised in the week with the exception of KCB and NIC that lost more than 7 per cent, with National Bank, Co-op Bank and I&M making capital gains.

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