Honeywell Gains N3.57bn In Four Days

Honeywell Flour Mills has gained N3.57 billion after four consecutive days of positive trading.

At the close of business on Friday, Honeywell Flour Mills Plc recorded 9.63% gain due to buy-interests in the shares of the company which induced a gain of N1.43 billion in market capitalisation at the close of trading activities on the Nigerian Stock Exchange.

Honeywell Flour share price had earlier on Thursday broken its highest record of N1.76 to close at N1.87 per share.

However, it reached another new high on Friday, breaking its previous day record of N1.87 per share, to close at N2.05 per share.

The shares of the company increased from N1.87 per share at the start of the trading day, to N2.05 per share, which is the highest price traded at the close of the market, to represent an increase of 9.63% or 18 kobo in monetary terms.

The buy-interests witnessed in the shares of Honeywell Flourmills positively influenced the company’s market capitalisation from N14.83bn to N16.26bn at the end of the day’s trading activities, taking the appreciation to N1.43bn.

The shares of Honeywell Flourmills Plc have gained well starting the year at N1.20 and currently trading at N2.05.

However, shares have also returned about 132.95% gains for investors who bought them at their 52-week low trading price of N0.88 per share.

During Friday’s trading hours, 15,486,569 ordinary shares of Honeywell Flourmills Plc worth about N31.64 million, were exchanged in 259 executed deals.