The titan of the hospitality sector, Transcorp Hotels Plc, has moved away from listed businesses with a market capitalization of more over N1 trillion due to unfavorable investor sentiment on the local exchange. Even yet, the business has seen the greatest capital appreciation over the last 12 months.
Transcorp Hotels PLC has lost around 7% of its peak market price in the previous seven trading sessions. On Friday, the company’s price dropped from N101.9 to N94.79 as investors withdrew their investments.
Transcorp Hotels, one of the top-performing companies on the local exchange, saw a little increase in market value over the course of five trading sessions, rising by 3%, as bargain-seekers once again took an interest in the hospitality provider. The stock has increased by more than 1048% in a year as a result of growing interest in the company’s future earnings performance. Investors continue to park fund in Transcorp Hotels amidst healthy profitability performance.
But as mood in equities market switched heavily in the second quarter, Transcorp Hotels also have its share of bearish touch on its market value. The hospitality stock market valuation has pulled back from N1 trillion club, though its share price surge remains hefty.
According to data from the Nigerian Exchange, Transcorp Hotels Plc’s valuation has dropped to about N971 billion. Last week, the ticker see moderate price appreciation of 3% versus three days negative performance in the market.
Transcorp Hotels Plc came from the bottom price of N8.25 per share, reaching its peak price of N101.9, and now is down to N94.75 in the local bourse. A thousand naira investment in the company 12 months ago would have worth about N1 million naira today.
