KenGen stocks rally after announcing 61% net profit

Kenya Electricity Generating Company PLC (KenGen) stocks rallied Wednesday hours after it announced a record Ksh.4.7 billion profit.

The Wednesday close saw the power utility sell Ksh.3.31 per share from the previous day at Ksh.3.26, a 1.53 percent jump in stock sell.

Its net profit in nine months to September 30, 2022 grew by 61.7 percent to Ksh.4.7 billion from Ksh.1.8 billion posted same period last year.

It also closed the day among top five gainers on the Nairobi Securities Exchange (NSE), but bottom on the list after Express Kenya, Bamburi Cement, Carbacid Investment and Home Africa – whose stocks closed at Ksh.3, Ksh.31.4, Ksh.11.8 and Ksh.0.37 respectively.

KenGen also closed the day with 591, 400 volume of equities moved/traded – making it to top five on the bourse.

Safaricom carried the day when it traded 3,735,200 equities (Ksh.24.35 per equity) followed by Kenya Commercial Bank (KCB) at 1,280,300 (Ksh.38), East African Breweries (EABL) came third with 816, 000 – Ksh.166, closely followed by Kenya Power at 810000 (Ksh.1.5).

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Lawrence Baraza

Lawrence Baraza is a dynamic journalist currently overseeing content at Metropol TV Digital. With a keen focus on business news and analytics, Lawrence guides the platform in delivering insightful, data-driven content that empowers its audience to make informed decisions. Lawrence’s commitment to quality and his ability to anticipate market trends make him a key figure in the digital media landscape. His work continues to shape the way business news is consumed, making a significant impact in the field.

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