Positive sentiment witnessed on shares of Airtel Africa Plc since the beginning of the year has resulted in investors of the company gaining about N3.571 trillion at the close of trading on 18th July.
Airtel Africa began the year with a share price of 955.00 NGN and has since gained 99.5% on that price valuation, ranking ninth on the NGX in terms of year-to-date performance.
The market sentiment for the segment which comprises two telecom firms – MTN Nigeria Plc and Airtel Africa Plc has remained resilient in the face of the pandemic.
Airtel Shareholders Earn N3.6 Trillion Year-To-Date On Positive Sentiment
Checks by SKYTREND NEWS showed Airtel closed its last trading day (Monday, July 18, 2022) at N1,905 per share and N7.160 trillion in market capitalisation on the Nigerian Stock Exchange (NGX) as against N955 per share and N3.589 trillion in market capitalisation at the beginning of trading in January 2022, hence has earned a gain of N3.571 trillion or 99.5% year to date.
Telecom companies are currently taking advantage of remote working which most companies have adopted following the COVID-19 pandemic to rake in gains from data subscriptions and voice calls.
Many workers are leveraging the Internet for online education, teleworking, gaming and entertainment and there has been a rise in Internet traffic recorded by the Internet exchange point.
Internet traffic had increased as many companies introduced work-from-home policies a week before the government-imposed lockdown.