Kenya Power continues to outperform other energy stocks at the Nairobi Securities Exchange this year, driven by sustained demand from foreign investors.
The stock is up 18.7% to Ksh17.15 year-to-date — carrying on a trend established in 2014 — even as power generating firm KenGen has shed three per cent to Ksh10.
Kenya Power has been among the leading beneficiaries of foreign investor inflows since the beginning of the year, attracting Ksh197 million in net inflows for the first three months of 2015. This is only behind KCB and Co-operative Bank which have net inflows of Ksh550 million and Ksh436 million respectively.
“The appetite for the stock by investors has been strong, bringing the higher gain compared to KenGen for instance. KenGen has delivered more robust numbers compared to Kenya Power, but has not had a similar performance at the market,” said Standard Investment Bank analyst Eric Musau.
Oil marketer stocks Total and KenolKobil have only registered modest movement this year. Total’s share is down 2.1% to Ksh23.50, while KenolKobil has gained 2.3% to Ksh8.90 this year.
(BDAFRICA.COM)
