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Weekly Equity Update 22Nd SEP 2017

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Weekly Equity Update 22Nd SEP 2017 Weekly Equity Update 22nd SEP 2017 Market Overview Market Perfomance Previous Today %Change Shares traded 136,140,300 67,746,900 -50.24% The market saw E.A Portland Ltd gain 9.3 percent during the week to top the list of biggest gainers. Equity Turnover (KES Bill) 4.57 1.89 -58.62% Market Cap (KES Bill) 2,410 2,431 0.86% The company’s sales revenue fell by 19% year-on-year to US$35.9m in 2016 from US$44.6m in Market Cap (USD Mil) 23.4 23.5 0.44% 2015. It made a loss of US$5.15m compared to a loss of US$7.19m in 2015,ARM Cement on the NSE-20 Share Index 3,784 3,764 -0.52% other hand was the biggest looser having shed 10.9 percent week on week, the company has been NSE All Share Index 164.5 165.9 0.86% NSE 25 Share Index 4,307 4,340 0.76% grappling with issues after an expansion pushed the firm into debts and left several subsidiaries 91-day Treasury Bills 8.134 8.129 -0.06% dormant. 182-day Treasury Bills 10.314 10.317 0.03% In the insurance segment, Britam gained 6.4 percent week on week as the best performing 364-day Treasury Bills 10.930 10.959 0.27% insurance stock moving 600,000 shares. The Insurance Regulatory Authority (IRA) has delisted Top Gainers & Losers nine insurance brokerage firms for failure to comply with the Insurance Act, barring them from Week Close w-o-w % Shares Traded Gainers handling any old or new business. In Its latest report AKI reported that the industry expanded by E.A.Portland Cement Co. Ltd 29.25 9.3% 100 13.4 percent, gross premiums now standing at KSH 174Billion. Britam Holdings Plc 14.95 6.4% 600,000 KCB was the most actively traded stock with 8.3M shares being moved at a week’s close of Eaagads Ltd 24.75 5.3% 1,100 Barclays New Gold ETF 1325.00 4.5% - KSH43.00.The banking sector is expected to see activity on the bank of a possible revision of the Kenya Re Insurance Corporation Ltd 21.50 3.6% 874,100 interest rate cap which has affected credit flow in the market as well as the companies bottom-line. Losers During the week, the equities market recorded mixed trends with NASI and NSE 25 gaining 0.9% ARM Cement Plc 12.2 -10.9% 460,800 Nairobi Business Ventures Ltd 2.3 -10.0% 74,800 and 0.8%, respectively, while NSE 20 lost 0.5%, taking their YTD performance to 24.4%, 22.9% Kapchorua Tea Co. Ltd 74.0 -8.6% 2,000 and 18.2% for NASI, NSE 25 and NSE 20, respectively. Equity turnover declining by 58% w/w to Express Kenya Ltd 3.3 -8.3% 1,200 KES 1.8 Billion. TPS Eastern Africa Ltd 26.0 -7.1% 10,300 Actively Traded KCB Group Ltd 43.0 2.4% 8,311,100 KenGen Co. Ltd 9.0 -4.3% 3,058,100 KenolKobil Ltd 16.6 -0.3% 2,715,900 Equity Group Holdings Plc 39.5 1.3% 2,685,000 The Co-operative Bank of Kenya Ltd 17.0 2.4% 2,298,500 1 STOCK PICK Price as at 52-week 52-week Target Stock 22/9/2017 low high P/B P/E EPS BVPS Price Upside Analyst's Call KPLC 10.25 6.00 12.00 0.33 2.05 3.87 33.62 16.81 64% Strong BUY Kengen 8.95 4.95 10.00 0.3 8.0 1.1 27.7 13.83 55% Strong BUY KCB 43.00 22.50 47.50 1.2 6.3 6.5 33.0 53.48 24% BUY Stanbic 79.50 58.00 88.00 1.1 7.2 11.2 74.0 99.96 26% BUY NIC 39.50 20.00 37.00 0.8 6.0 6.5 48.5 49.09 24% BUY Total 23.25 16.00 25.00 0.8 5.8 3.6 30.7 27.66 19% BUY Kenya -Re 21.50 17.50 24.50 0.6 4.6 4.8 34.4 24.20 13% HOLD I&M Bank 125.00 74.00 126.00 1.7 6.6 18.6 73.5 148.95 19% BUY DTB 184.00 102.00 196.00 1.2 7.8 23.1 155.6 210.11 14% HOLD Liberty 13.40 5.55 17.00 1.1 11.5 1.2 12.6 14.85 11% HOLD Equity Bank 39.50 23.50 45.00 1.9 8.9 4.4 21.1 42.63 8% HOLD Britam 14.95 9.00 15.90 1.5 10.9 1.3 9.2 15.35 3% SELL Sanlam 29.50 18.00 40.00 1.1 5.9 4.9 27.3 31.63 7% HOLD BBK 10.40 7.00 12.00 1.3 8.0 1.3 8.1 10.95 5% HOLD COOP 17.00 9.75 18.00 1.3 7.3 2.2 12.9 17.42 2% SELL Umeme 19.95 12.20 18.20 1.3 1.4 9.7 10.5 14.58 -27% SELL Centum 41.25 30.50 46.00 0.6 3.8 10.9 71.0 42.62 3% SELL Stanchart 238.00 165.00 243.00 1.6 9.0 25.9 150.3 243.45 2% SELL Kenol Kobil 16.55 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. Research will initiate, update and cease coverage solely at the discretion of KCB Group Research Management. The analysis contained herein is based on numerous assumptions. Different assumptions could result in materially different results. The analyst(s) responsible for the preparation of this report may interact with trading desk personnel, sales personnel and other constituencies for the purpose of gathering, synthesizing and interpreting market information.
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