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Weekly Equity Update 15Th SEP 2017

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Weekly Equity Update 15Th SEP 2017 Weekly Equity Update 15th SEP 2017 Market Overview Market Perfomance Previous Today %Change Shares traded 188,327,000 136,140,300 -27.71% During the week, the equities market was on a downward trend with NSE 20, NASI and NSE 25 Equity Turnover (KES Bill) 5.72 4.57 -20.13% losing 1.5%, 0.7% and 0.4%, respectively, taking their YTD performance to 23.4%, 22.0% and Market Cap (KES Bill) 2,427 2,410 -0.70% Market Cap (USD Mil) 23.5 23.4 -0.32% 18.8% for NASI, NSE 25 and NSE 20 The market was weakened by shrinking large caps counters. NSE-20 Share Index 3,840 3,784 -1.46% Week’s volumes declined to 136.14Mn from 188.93Mn on low trades on telecommunication and banking NSE All Share Index 165.7 164.5 -0.70% NSE 25 Share Index 4,324 4,307 -0.40% sectors. Market turnover thinned by 20.75% to KES 4.57Bn from KES 5.76Bn. Foreign activity was at 51.6% 91-day Treasury Bills 8.130 8.134 0.05% with a net outflow of KES 1.55Bn. 182-day Treasury Bills 10.313 10.314 0.01% Safaricom closed the week with 8.74Mn shares trading at an average of KES 25.25 for a total value of KES 364-day Treasury Bills 10.920 10.930 0.09% Top Gainers & Losers 221.45Mn as the counter closed its book. Foreign activity, at 71.3%, continues to play a major role in the Week Close w-o-w % Shares Traded value drop with the telecom shedding KES 20.03Bn in market value on a w/w basis. Gainers Banking sector index gained 1.01% with the sector moving 51.38MN shares, representing 37.78% of total Sameer Africa Ltd 2.80 12.0% 16,000 week’s volume. KCB and Equity Group moved 24.1Mn and 18.0Mn shares at a losing price of 42.00 (- Standard Group Plc 35.75 8.3% 1,100 Olympia Capital Holdings Ltd 3.10 6.9% 5,700 0.59%) and KES 39.00 (-64%). NBK and I&M were the top sector gainers, up 4.29% and 4.03% to KES 10.95 Eveready East Africa Ltd 2.50 6.4% 129,500 and KES 129.00. TPS Eastern Africa Ltd 28.00 5.7% 1,352,700 Britam traded 0.68Mn with its value gaining 0.72% to KES 14.05 compared to KES 13.95 last week. IFC Losers ARM Cement Plc 13.7 -16.7% 1,527,400 completed entry into the insurer with a 10.3% ownership. Sanlam Kenya holding was the only other gainer, Nairobi Business Ventures Ltd 2.5 -15.3% 178,300 up 4.39% to KES 29.745 with 7,100 shares. CIC Group, Liberty Kenya, Kenya Re and Jubilee Insurance lost WPP Scangroup Ltd 18.1 -13.0% 88,000 4.31%, 3.35%, 2.35%, and 0.21% to close at KES 5.55, KES 13.00, KES 20.75 and KES 475.00 respectively. Kapchorua Tea Co. Ltd 81.0 -10.0% 100 Eaagads Ltd Ord 1.25 23.5 -9.6% 200 Kenya Airways exchanged 1.44Mn at KES 4.75, a 4.40% gain from KES 4.55 last week. TPS Serena advanced Actively Traded 5.66% to KES 28.00 while SMG value increased to KES 35.75 from KES 33.00. Safaricom Ltd 25.3 -1.9% 61,219,900 KCB Group Ltd 42.0 -0.6% 24,072,600 Equity Group Holdings Plc 39.0 -0.6% 18,005,100 KenolKobil Ltd 16.6 0.3% 5,036,800 Kenya Power & Lighting Co Ltd 10.6 -0.9% 3,228,000 1 STOCK PICK Price as at 52-week 52-week Target Stock 18/9/2017 low high P/B P/E EPS BVPS Price Upside Analyst's Call KPLC 10.65 6.00 12.00 0.33 2.05 3.87 33.62 16.81 58% Strong BUY Kengen 9.35 4.95 10.00 0.3 8.0 1.1 27.7 13.83 48% Strong BUY KCB 42.00 22.50 47.50 1.2 6.3 6.5 33.0 53.48 27% BUY Stanbic 80.00 58.00 88.00 1.1 7.2 11.2 74.0 99.96 25% BUY NIC 40.00 20.00 37.00 0.8 6.0 6.5 48.5 49.09 23% BUY Total 23.00 16.00 25.00 0.8 5.8 3.6 30.7 27.66 20% BUY Kenya -Re 20.75 17.50 24.50 0.6 4.6 4.8 34.4 24.20 17% BUY I&M Bank 129.00 74.00 126.00 1.7 6.6 18.6 73.5 148.95 15% BUY DTB 182.00 102.00 196.00 1.2 7.8 23.1 155.6 210.11 15% BUY Liberty 13.00 5.55 17.00 1.1 11.5 1.2 12.6 14.85 14% HOLD Equity Bank 39.00 23.50 45.00 1.9 8.9 4.4 21.1 42.63 9% HOLD Britam 14.05 9.00 15.90 1.5 10.9 1.3 9.2 15.35 9% HOLD Sanlam 29.75 18.00 40.00 1.1 5.9 4.9 27.3 31.63 6% HOLD BBK 10.35 7.00 12.00 1.3 8.0 1.3 8.1 10.95 6% HOLD COOP 16.60 9.75 18.00 1.3 7.3 2.2 12.9 17.42 5% SELL Umeme 14.00 12.20 18.20 1.3 1.4 9.7 10.5 14.58 4% SELL Centum 42.00 30.50 46.00 0.6 3.8 10.9 71.0 42.62 1% SELL Stanchart 240.00 165.00 243.00 1.6 9.0 25.9 150.3 243.45 1% SELL Kenol Kobil 16.60 10.70 16.75 2.4 9.7 1.6 6.7 13.29 -20% SELL 2 Corporate Actions Longhorn Publishers Ltd announced a final dividend of Kes.0.29 on 08-Sep-2017; Books Closure 08-Dec- 2017; Payment 08-Mar-2018. Standard Chartered Bank Kenya Ltd announced an Interim dividend of Kes.4.50 on 30-Aug-2017; Books Closure 21-Sep-2017; Payment 19-Oct-2017. Jubilee Holdings Ltd announced an Interim dividend of Kes.1.00 on 28-Aug-2017; Books Closure 15-Sep- 2017; Payment 06-Oct-2017. Bamburi Cement Ltd announced an Interim dividend of Kes.2.50 on 25-Aug-2017; Books Closure 22-Sep- 2017; Payment 27-Oct-2017. BOC Gases Ltd announced an Interim dividend of Kes.2.20 on 24-Aug-2017; Books Closure 22-Sep-2017; Payment 13-Oct-2017. Barclays Bank of Kenya Ltd announced an Interim dividend of Kes.0.20 on 15-Aug-2017; Books Closure 08- SECTOR TURNOVER REAL ESTATE Sep-2017; Payment 13-Oct-2017. AUTOMOBILES INVESTMENT & ACCESSORIES TRUST Stanbic Holdings Plc announced an Interim dividend of Kes.1.25 on 14-Aug-2017; Books Closure 11-Sep- AGRICULTURE 0% 0% 0% 2017; Payment 29-Sep-2017. BANKING KCB Group Plc announced an Interim dividend of Kes.1.00 on 03-Aug-2017; Books Closure 04-Sep-2017; TELECOMMUNIC 35% ATION & TECHNOLOGY Payment 31-Oct-2017. 45% KenolKobil Ltd announced an Interim dividend of Kes.0.30 on 03-Aug-2017; Books Closure 25-Aug-2017; COMMERCIAL AND SERVICES Payment 01-Oct-2017. 7% East African Breweries Ltd announced a Final dividend of Kes.5.50 on 28-Jul-2017; Books Closure 25-Aug- CONSTRUCTION & ALLIED MANUFACTURIN INSURANCE 2017; Payment 31-Oct-2017. G & ALLIED 0% INVESTMENT 2% ENERGY & 7% SERVICES INVESTMENT PETROLEUM Nation Media Group Ltd announced an Interim dividend of Kes.2.50 on 26-Jul-2017; Books Closure 15- 0% 1% 3% Sep-2017; Payment 29-Sep-2017. 3 Research Analyst Joshua Otiende- +254 (020) 327 0000 Ext 11732 Disclaimer This report has been prepared by KCB Capital Limited, a subsidiary of KCB Group. KCB Bank, its subsidiaries, branches and affiliates are referred to herein as KCB Group. This report is for distribution only under such circumstances as may be permitted by applicable law. Nothing in this report constitutes a representation that any investment strategy or recommendation contained herein is suitable or appropriate to a recipient’s individual circumstances or otherwise constitutes a personal recommendation. It is published solely for information purposes, it does not constitute an advertisement and is not to be construed as a solicitation or an offer to buy or sell any securities or related financial instruments in any jurisdiction. No representation or warranty, express or implied, is provided in relation to the accuracy, completeness or reliability of the information contained herein, except with respect to information concerning KCB Group, its subsidiaries and affiliates, nor is it intended to be a complete statement or summary of the securities, markets or developments referred to in the report. KCB Group does not undertake that investors will obtain profits, nor will it share with investors any investment profits nor accept any liability for any investment losses. Investments involve risks and investors should exercise prudence in making their investment decisions. The report should not be regarded by recipients as a substitute for the exercise of their own judgment. Any opinions expressed in this report are subject to change without notice and may differ or be contrary to opinions expressed by other business areas or groups of KCB Group as a result of using different assumptions and criteria.
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