Paint maker retreats 11.6%:
Crown Berger (BERG) was the worst loser in November among the Nairobi Securities Exchange (NSE) stocks. Shares of the paint manufacturer declined 11.6% for the month. Crown Berger is trading in the vicinity of Ks42 apiece. Fears of heightened competition and a slowdown in Kenya’s construction industry may have caused investors to cut their exposure to the stock during the month.
Beer maker stock drops 11.2%:
East African Breweries (EABL) was the second-largest loser in November. The stock pulled back 11.2%. Investors seem to have moved to rebalance their portfolios in the beer company as competition tightens in Kenya’s alcohol market.
The recent launch of three series of Jameson whiskies in Nairobi by Pernod Ricard has increased competition for the control of the country’s premium spirits market. The move by Pernod Ricard may have caused risk-averse investors to dump East African Breweries stock, pushing the share price down in the process.
East African Breweries has also been rattled by executive outflow as the National Bank of Kenya (NBK) recently hired away its director of finance Peter Kioko. Some investors may be worried that talent drain could hamper East African Breweries’ ability to tackle competition in its market and grow new revenue streams.
East African Breweries shares are trading in the vicinity of Ks248 apiece.
Investment firm down 10.5%:
Olympia Capital Holdings Ltd (OCH) was the third-largest loser in November. The stock of the investment firm declined 10.5% in the month. Poor performance and a tightening buyout market may have rattled the stock. Centum (ICDC) has stepped up its buyout of promising assets, raising the valuation of assets rivals Olympia Capital and Trans-Century (TCL) may want to lay their hands on.
Centum is the largest investor in publishing company Longhorn Kenya (LKL) and privately held Sidian Bank and Almasi Breweries.
Olympia Capital shares are trading in the vicinity of Ks3 apiece.
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