Airtel Africa adds the most market cap in August. Is it still worth buying?
Airtel Africa added more market capitalisation than any other stock in August. Its shares rose 8.59%, taking the price from N5,801.40 at the end of July to N6,300 and adding about N1.87 trillion to its market value. The post Airtel Africa adds the most market cap in August. Is it still worth buying? appeared first on Nairametrics .
Nairametrics reports that Airtel Africa was the most capitalised company on the NGX in August, with its shares rising 8.59% to N6,300, adding about N1.87 trillion to its market value. This represents a remarkable 177.5% gain over eight months, more than three times the broader market's gain. A key driver of this growth appears to be the company's increasing customer data usage and financial services transactions, as well as strong Nigerian revenue growth.
However, the article also notes that the stock trades at a high multiple of earnings and book value, and the dividend yield is relatively low. Therefore, while Airtel Africa has delivered strong returns, investors should consider whether current prices still represent a good deal.
Brief written by urgent.news from Nairametrics's own syndicated text. Machine-written — may contain errors; check the original before relying on it.
