After a rough January, Emmanuel decided to buy some stocks to insure his next Detty December. He had his eyes set on some dollar stocks, but seeing that his N100,000 would not get him much, he settled for naira stocks.
Randomly picking one stock from the power sector and two from financial services, Emmanuel spread his N100,000 across all three and decided to wait until December.
By December, Emmanuel was one of several investors smiling to the bank, as his N100,000 investment in those shares was now worth about N442,000.
Several naira stocks have enjoyed a bull run in 2024, making investors richer. This is against the general thought that one must necessarily invest in dollar stocks.
These naira stocks outperformed the All Share Index (ASI) and grew even higher than the inflation rate, thus protecting investors’ funds.
The number one stock on this list grew 1646%, while several others tripled and even quadrupled investors’ monies.
Of course, several other stocks made investors richer through dividends, but the focus is on one stock that recorded impressive value appreciation, making its investors richer asset–wise.
1. Juli Plc
Juli Plc is a food/drug retailer and wholesaler that focuses on medications, supermarkets, and laboratory services.
It is grouped under the Services Sector, and even though it is not the most popular stock, Juli Plc Stock was among the top movers that drove significant gains on the Nigerian stock market in 2024.
Juli Plc ended 2023 with a stock price valued at N0.59k. After a relatively slow January, things picked up in February and since then, the stock price has been on an upward trend.
Analysis shows that this growth in stock price may have been triggered by an increase in medication prices after major medicine manufacturing companies left the country.
By the close of the market on December 11, 2024, it had reached N10.30k, an impressive growth of 1646%. This means that if you had invested N100,000 into Juli Plc stocks as of January 1, 2024, those stocks would be worth over N1.7 million by December 11, 2024.
2. Eunisell Interlinked Plc
Eunisell Interlinked Plc provides engineering services for the telecommunications, energy and electricity sectors, and is grouped in the services sector.
From N3.20k by the end of December 2023, a single unit of Eunisell stock was worth N19.25k by the close of the market on December 11, 2024.
Interestingly, Eunisell’s stock price stayed around the same price from January to September 2024, but by October, it started growing in leaps and bounds.
In the last quarter of the year, it grew 502%, the highest in seven years, a growth that may have been influenced by the impressive financials. The company reported a 160.74% growth in revenue and about 1031% growth in Profit After Tax (PAT).
If you had invested N100,000 into Eunisell shares by the beginning of the year, those shares would have been worth over N600,000 by December 11, 2024.
