{"id":100347,"date":"2023-12-06T19:55:50","date_gmt":"2023-12-06T19:55:50","guid":{"rendered":"https:\/\/www.africa-press.net\/tanzania\/all-news\/simba-cement-standout-performer-stock-on-dse"},"modified":"2023-12-06T20:32:04","modified_gmt":"2023-12-06T20:32:04","slug":"simba-cement-standout-performer-stock-on-dse","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/tanzania\/all-news\/simba-cement-standout-performer-stock-on-dse","title":{"rendered":"Simba cement standout performer stock on DSE"},"content":{"rendered":"

Africa-Press – Tanzania. <\/strong><\/span>TANGA Cement PLC stock has appreciated the most in the 11 months of this year, pushed by the acquisition deal between Scancem and Afrisam started two years ago.<\/p>\n

Tanga, the manufacturer of Simba cement, emerged as a standout performer, with an impressive 82 per cent increase\u2014one of the highest per year in the bourse history.<\/p>\n

The Simba cement share price has rallied since 2021, but at the beginning of this year went up from 1,100\/- then to 2,000\/- last Friday.<\/p>\n

Mr Godsaviour Christopher, a researcher at the Centre for Banking and Financial Services Research (CBFSR), said the share was a top performer in last year\u2019s first quarter,recording the same 82 per cent appreciation in price.<\/p>\n

\u201cThis remarkable growth underscores the company\u2019s strategic positioning and adaptability to market dynamics,\u201d Mr Christopher told the \u2018Daily News\u2019 in a statement yesterday. The CBFSR is part of the Unversity of Dar es Salaam Business School (UDBS).<\/p>\n

Under the deal finalised last week, Tanga Cement transfered 43 million shares from Afrisam Mauritius to Scancem International D.A at 2,440\/-. The total value of the transaction was 106bn\/-.<\/p>\n

Alpha Capital Head of Research and Analytics, Mr Imani Muhingo, said Scancem plans to fully acquire Tanga Cement and is expected to make an offer to retail shareholders in next year\u2019s first quarter, at the same price that was offered to Afrisam.<\/p>\n

\u201cAs a result investors\u2019 appetite for Tanga Cement has risen while the cement manufacturer\u2019s price rises along with speculative investors,\u201d Mr Muhingo said.<\/p>\n

This year has seen several companies making significant strides, reflecting the resilience and potential of the nation\u2019s economic landscape.<\/p>\n

The second top performer stock was NMB Bank Plc, one of the leading lenders in the country, after registering a 49 per cent increase in stock prices.<\/p>\n

The lender stock soared from 3,020\/- to 4,500\/- during the year. Since July, the stock has indicated a bullish trend, supported by the continuous outstanding financial performance.<\/p>\n

National Investment Company Limited (NICOL) and TCCIA Investment Company Limited (TICL) both experienced substantial growth, marking a 40 per cent and 32 per cent increase in stock prices, respectively.<\/p>\n

\u201cThese results highlight the diverse opportunities available across different sectors in the Tanzanian stock market,\u201d Mr Christopher said.<\/p>\n

In the realm of manufacturing and construction, Tanzania Portland Cement Company (TPCC), Twiga cement, exhibited a commendable 16 per cent rise in stock prices, \u201creflecting the positive outlook for the construction industry\u201d, he said.<\/p>\n

CRDB Bank Plc (CRDB), another largest bank in the country, also demonstrated robust performance with a 15 per cent surge in stock prices, emphasising the stability and resilience of the banking industry.<\/p>\n

Additionally, the Dar es Salaam Stock Exchange (DSE) and Swissport posted respectable gains of 9.0 per cent, further contributing to the overall buoyancy in the stock market.<\/p>\n

\u201cAs investors reflect on the past year\u2019s market performances, it becomes evident that the Tanzanian stock market holds promising prospects for those seeking investment opportunities,\u201d Mr Christopher said.<\/p>\n

The upward trajectory of these stocks not only underscores the resilience of the country\u2019s economy but also beckons potential investors to consider the stock market as a viable avenue for wealth creation.<\/p>\n

For More News And Analysis About Tanzania<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Tanzania. TANGA Cement PLC stock has appreciated the most in the 11 months of this year, pushed by the acquisition deal between Scancem and Afrisam started two years ago. Tanga, the manufacturer of Simba cement, emerged as a standout performer, with an impressive 82 per cent increase\u2014one of the highest per year in […]<\/p>\n","protected":false},"author":84,"featured_media":100345,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5],"tags":[6990,6991,711],"class_list":["post-100347","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","tag-africa-press-2","tag-africa-press-tanzania","tag-tanzania"],"yoast_head":"\nSimba cement standout performer stock on DSE - Tanzania<\/title>\n<meta name=\"description\" content=\"TANGA Cement PLC stock has appreciated the most in the 11 months of this year, pushed by the acquisition deal between Sc ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/tanzania\/all-news\/simba-cement-standout-performer-stock-on-dse\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Simba cement standout performer stock on DSE\" \/>\n<meta property=\"og:description\" content=\"TANGA Cement PLC stock has appreciated the most in the 11 months of this year, pushed by the acquisition deal between Sc ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/tanzania\/all-news\/simba-cement-standout-performer-stock-on-dse\" \/>\n<meta property=\"og:site_name\" content=\"Tanzania\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2023-12-06T19:55:50+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-12-06T20:32:04+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/tanzania\/sites\/17\/2023\/12\/sm_1701881979.350115.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"720\" \/>\n\t<meta property=\"og:image:height\" content=\"406\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/tanzania\/all-news\/simba-cement-standout-performer-stock-on-dse#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/tanzania\/all-news\/simba-cement-standout-performer-stock-on-dse\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/tanzania\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Simba cement standout performer stock on DSE\",\"datePublished\":\"2023-12-06T19:55:50+00:00\",\"dateModified\":\"2023-12-06T20:32:04+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/tanzania\/all-news\/simba-cement-standout-performer-stock-on-dse\"},\"wordCount\":538,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/tanzania\/all-news\/simba-cement-standout-performer-stock-on-dse#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/tanzania\/sites\/17\/2023\/12\/sm_1701881979.350115.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Tanzania\",\"tanzania\"],\"articleSection\":[\"all news\",\"Economy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/tanzania\/all-news\/simba-cement-standout-performer-stock-on-dse#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/tanzania\/all-news\/simba-cement-standout-performer-stock-on-dse\",\"url\":\"https:\/\/www.africa-press.net\/tanzania\/all-news\/simba-cement-standout-performer-stock-on-dse\",\"name\":\"Simba cement standout performer stock on DSE - 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