EGX Rebounds with EGX30 Index Surging, Led by COMI, TMGH, GBCO, and ORAS
The EGX (Egyptian Stock Exchange) has regained its momentum, entering the green zone. The main driver behind the rebound was the strong performance of the EGX30 index. Notably, COMI registered a significant increase of 6.13% with an index weight of 28.25%, while TMGH experienced a notable surge of 13.73% with an index weight of 11.25%. Earlier today, TMGH's Board of Directors announced their approval of acquiring a maximum of 10 million shares as treasury stocks, which likely contributed to the positive sentiment.
Furthermore, other notable gainers included GBCO, which soared by 10% with an index weight of 0.99%, and ORAS, which experienced a remarkable surge of 12.82% with an index weight of 1.35%. (stocks index weight as of data on EGx website for session end 28/04/2024)
Talaat Moustafa Group Board Approves Purchase of Treasury Stocks
Talaat Moustafa Group (TMGH) board of directors, in their meeting held on April 28, 2024, has approved the purchase of treasury stocks, up to a maximum of ten million shares of TMGH, through the open market, and according to the market prices starting from April 29, 2024.
Moreover, during today trading session on April 29, 2024, TMGH shares experienced a notable surge, exceeding +10%, reaching EGP 57.50 per share by 10:27 am.
Source: Company disclosure to EGX - AttachedÂ
SKPC Board Meeting: Unaudited Financials, Audit Committee Reconstitution, and Capital Increase Procedure Presentation
Sidi Kerir Petrochemicals (SKPC) announced that its board of directors is scheduled to convene today, April 29, 2024. The agenda for the meeting encompasses several key items, including the presentation of unaudited financial statements for the period spanning January to March 2024, the reconstitution of the audit committee, and the unveiling of a disclosure report template outlining the procedures for increasing the issued and paid-in capital, as per the general assembly decision held on March 10, 2024.
Source: Company disclosure to EGX - AttachedÂ
AMOC Reports Strong 9-Month Financial Performance: Net Profit Surges to EGP 1.3 Billion, Up +19% from Previous Year's Earnings of EGP 1.09 Billion.
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