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Centum Sh1.2bn Housing Project Whets Investors’ Appetite

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Centum Investments was the prime mover at the Nairobi Securities Exchange (NSE) on Tuesday 13th October.  This is as investors, excited by the freshly minted Ksh1.2 billion housing project that is ready for occupation ahead of schedule, pushed up the volume of its traded shares at the bourse to 4.83 million. 

Centum toppled Safaricom with a volume of 3.84 million shares to become the most traded counter at the bourse. At the close of trading, its share price fell 3.48% to Ksh18.05 from the previous Ksh18.70 with a turnover of Ksh87.14 million in 162 deals that were driven by foreign investors at 59.6%.

Apart from the 74 units, Awali Estate, a project by Centum Investment, now ready for occupation, the firm has also lined up the Palm Ridge Estate, which is set for completion in 2021. Centum says it has already sold some 440 units on this property.

Centum Investment Company CEO James Mworia says the firm has acquired over 10,000 acres of land in Vipingo. Only some 100 acres have been developed, leaving room for construction of the proposed Vipingo City.

On Tuesday, turnover at the NSE increased to Ksh304.99 million on a volume of 12.92 Million with a total of 940 deals recorded.

The top price gainer was Express Kenya Plc whose share price rose 7.19% to Ksh4.50 from Ksh4.17 on a volume of 6,700 and turnover of Ksh30,150 that was executed in a single deal.

It was followed by Uchumi Supermarkets, which was up 7.41%, Car & General Plc (6.67%) and Total Kenya Plc  (3.76%). Kenya Reinsurance saw its share price gain 3.18% to KSh 2.27.

The worst performers were led by Umeme Limited, followed by Carbacid Investments, Longhorn Publishers, TransCentury and East African Cables.

Apart from Centum, other top movers were Safaricom (3.84 Million), KenGen(1.37 Million), Equity Group Plc (1.10 million) and KCB Group Plc (543,500).

See >> Bishop Becomes Lead Salesman For Housing Estate

The NSE 20 Share declined by 6.05 points from 1,836.54 to 1,830.49. The NSE 25 Share Index edged 10.5 points from 3,225.86 to 3,236.41. The NSE All-Share Index rose marginally by 0.07 points from 140.07 to 140.14.

There were two contracts valued at Ksh60,100 concluded during today’s transaction on the derivatives market. This was a reduction from the 5 contracts valued at Ksh139,500 concluded on Monday.

The bonds market recorded bonds worth Ksh2.49 billion transacted in 45 deals against the Ksh3.11 billion on Monday.

Next >> Buyers Take Up Houses at Tatu City Estate

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BT Reporter
BT Reporterhttp://www.businesstoday.co.ke
editor [at] businesstoday.co.ke
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