WorldStage Newsonline– The stock market on Friday finally warmed up to the previous day’s notification by Julius Berger Nigeria Plc that its board had approved a diversification opportunity for the company in agro-processing sector.
The stock price of the leading Nigerian company offering holistic services covering the planning, design, engineering, construction, operation and maintenance of buildings, infrastructure and industry projects, gained 0.7% on Friday from N15 to 15.7 per share.
Transactions on the stock were more than double that of Thursday at 71 from 30 involving 1,494,260 shares valued at N23,447,500.95 from 145,041shares valued at N2,269,252.25 on Thursday.
WorldStage had earlier reported that there was no impact of the diversification opportunity gist on the stock of the company on Thursday.
The notification at the Nigerian Stock Exchange about the new opportunity signed by C. E. Madueke (Mrs.), Company Secretary was persuasive and raised hopes of market approval saying, “We trust that the Market would accept and react favorably to the information given above.”
Julius Berger in November 2019 announced its diversification into the oil and gas industry, with the acquisition of a 20% equity stake in Petralon Energy Limited.