Geregu Power Hits N1.07 Trillion Market Cap as Stock Closes in on N1,000

Geregu Power Plc, the first electricity company to be admitted into the main board of the Nigerian Exchange Limited (NGX), has hit N1.07 trillion in market capitalisation.

The stock of the utility was up 7.52% today to close at N429 per share. Technical analysis of the charts show the stock is slowly marching to the N1,000 per share round number level.

For the first nine months through September 2023, Geregu Power’s pre-tax profit spiked by 25.30 percent to N17.48 billion from N13.95 billion as at September 2022.

Revenue was up 42.92 percent to N55.74 billion in the period under review from N39 billion the previous year.

Geregu Power’s stable earnings stream and a healthy balance sheet means investors have confidence in the firm’s growth prospects as its shares have a 1-year return of 196.28 percent, making it one of the best performers in the index.

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