East African investment firm, Centum last week experienced a ground breaking increase in its share price, closing the week at Sh55.50 ($0.63).
The local investors bullish run came after the firm clinched a Sh184 billion ( contract to set up a 96MW coal plant in Lamu.
“Investors were responding positvely to news of Centum wining a $2 billion contract, in conjunction with Gulf Energy, to construct a 1000MW coal plant in Lamu,” said Standard Investment Bank (SIB) in its weekly market wrap on Friday.
Gulf Energy, the lead in a consortium that includes Centum Investment and Sichuan Electrical Power and Design Consulting Company Ltd., CHD Power Plant Operation Ltd. and Sichuan Number 3 Electric Power Construction Company Ltd, had won the Lamu Coal Power tender after Kenya’s Energy Ministry excluded two Chinese firms from the deal following the discovery of some anomalies.
Like Centum, financial services group Britam also attracted local investors, whose interests in the company’s shares rose since posting positve H1 2014 results recently.
The highest net inflows at the NSE was recorded by Equity Bank at $1.9m, while the highest net outflow recorded was Kenya Re’s $0.6m.
Safaricom ended the week as the biggest mover on the NSE, with a turnover of $4.7 million. Kenya Orchards was however the biggest gainer, with about 31 percent increase ending the week at Sh20. Longhorn Kenya lost 10.7 percent to end the week as the biggest loser at Sh14.25.