The Best Companies And Banks To Buy Stocks

Grace Christos

3 years ago

The term “Stock” is familiar in the finance world, which means the total shares of a company held by an individual shareholder. In Nigeria, before you buy stocks from any company, you have to know that you can only buy and sell stocks through the public companies that form the Nigerian Stock Exchange in Nigeria.

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In addition, before you buy stocks, you have to ensure that you have all the necessary documents needed for identification because you are opening a private account with the company.

Having all the necessary documents at hand will save you from some complications and challenges in the first stage of your investment.

The next thing you need to do is find the best company with an approved stockbroking system. The company must fit your needs and preferences and must abide by the Nigerian laws as well. Once you have a clear representation of what you want, it is easier to buy stock.

Some of the best bank and company stocks to buy in Nigeria include:

MTN Nigeria Communications Plc

MTN Nigeria Plc outperforms its peers in the telecom industry. From being the top in term of customer base, revenue and profit, MTN is undoubtedly one of the best companies to buy stocks from.

Following its recently obtained payment service bank license from CBN, MTN’s positive sight for revenue growth, profits and dividend payments is one of the top advantage of the company.

In addition, the recently awarded 5G license means that soon, MTN would roll out its 5G network across major urban areas in Nigeria.

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MTN boosted its internet Market share during the Covid-19 pandemic.

Zenith Bank Plc.

The consistent growth in Zenith bank Plc is mind-blowing as it now ranks as one of the largest Nigerian banks by market capitalization. When you buy stocks from Zenith Bank, the bank’s strong fundamentals assures you of your consistent dividend payment, high dividend yield and potential for capital appreciation.

All these and more made it an attractive stock for short and long-term investors. In fact, this bank sector has defied the odds as it continues to experience tremendous growth.

Lafarge

This is one of the top three (3)-cement manufacturers that consistently outshines others in terms of revenue earnings, which is one of the most important things to look out for before buying stock from any company.

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Additionally, Lafarge is performing well in terms of compensating investors with ROI, due to its strong cash flow and low debt ratio.

Lafarge is indeed one of the best companies to buy stocks from owing to its strong fundamentals and its current low valuation.

Morison Industries Plc

This is another top company where you can buy stocks from in Nigeria. Morison Industries ranks as one of the best performing stock right now in Nigeria.

This Industry falls under the consumer non-durable sector with its products ranging from health care products to cleaning products.

If you wish to invest in consumer non-durable goods, then Morison Industries is the best choice for you. This is because of its affordable stock price with good volume.

According to the technical rating, it is better to buy the stock of Morison rather than sell it currently.

As a financial investor in need of companies to buy stocks from, ensure you look out for the stocks of financial, cement manufacturing, oil & gas and telecommunication companies as they are expected to post impressive earnings.

Featured Image Source: Nairametrics

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