Latest news with #Al-BahaInvestmentandDevelopmentCo.
Arab News
23-04-2025
- Business
- Arab News
TASI closes in green at 11,681, gaining 0.82%
RIYADH: Saudi Arabia's Tadawul All Share Index concluded Wednesday's trading session at 11,681.11 points, marking an increase of 94.71 points or 0.82 percent. The total trading turnover of the benchmark index was SR6.066 billion ($1.617 billion), as 189 of the listed stocks advanced, while 54 retreated. The MSCI Tadawul Index also surged by 14.14 points, or 0.96 percent, to close at 1,488.74 The Kingdom's parallel market Nomu reported an increase as well, gaining 181.35 points, or 0.64 percent, to close at 28,463.11 points. This comes as 48 of the listed stocks advanced while as many as 34 retreated. The index's top performer, Musharaka REIT Fund, saw a 10 percent increase in its share price, closing at SR4.84. Other top performers included Al-Baha Investment and Development Co., which saw a 9.97 percent increase to SR3.31, while Mulkia Gulf Real Estate REIT's share price rose 9.96 percent to SR5.52. Alistithmar AREIC Diversified REIT Fund also recorded a positive trajectory, with share prices rising 9.92 percent to reach SR6.90. Allied Cooperative Insurance Group was TASI's worst performer, with the company's share price falling by 3.35 percent to SR15. Etihad Etisalat Co. followed with a 3.17 percent drop to SR61. This decline comes after the firm's consolidated interim financial results for the first quarter. The company reported a 20.21 percent increase in its net profit, reaching SR 767 million, compared to the same period in 2024. Saudi Printing and Packaging Co. also saw a notable decline of 3.03 percent to settle at SR 12.80. On the parallel market, National Building and Marketing Co. was the top gainer, with its share price surging by 9.88 percent to SR198. Other top gainers in the parallel market were Arabian Plastic Industrial Co. and Ghida Alsultan for Fast Food Co., with their share prices surging by 8.51 percent and 5.65 percent, to reach SR51 and SR44.9, respectively. Al Mohafaza Co. for Education was the major faller on Nomu, as the company's share price slipped by 9.59 percent to SR23.10. Yamama Cement Co. also announced its financial results for the first quarter of 2025, reporting a 23.51 percent increase to SR142 million compared to the same period of last year. The company said in a statement on Tadawul that the increase in profit was mainly due to an annual rise in the average selling price and an increase in sales volume for the current quarter. The firm's share price closed on Wednesday's session at SR36.7, increasing by 2.92 percent.
Arab News
26-01-2025
- Business
- Arab News
Saudi benchmark index inches up 0.26% to close at 12,386
RIYADH: Saudi Arabia's Tadawul All Share Index rose on Sunday, gaining 32.12 points, or 0.26 percent, to close at 12,386.16. The total trading turnover on the benchmark index reached SR5.11 billion ($1.36 billion), with 161 stocks advancing and 69 retreating. The Kingdom's parallel market, Nomu, also saw a modest gain, rising 49.70 points, or 0.16 percent, to close at 30,896.29, as 49 stocks advanced and 42 declined. The MSCI Tadawul Index closed up by 2.01 points, or 0.13 percent, finishing at 1,545.39. Kingdom Holding Co. emerged as the day's top performer, with its share price surging 9.80 percent to SR10.20. Other notable performers included Al-Baha Investment and Development Co., which rose 9.30 percent to SR0.47, and Saudi Fisheries Co., whose share price jumped 7.84 percent to SR24.28. On the downside, Al-Jouf Cement Co. recorded the largest drop, falling 3.57 percent to SR12.44. Arabian Pipes Co. also saw its stock decline by 2.50 percent, closing at SR13.26, while Rasan Information Technology Co. dropped 1.94 percent to SR90.80. On the announcements front, Al-Baha Investment and Development Co. announced its annual financial results for the period ending Dec. 31. The company reported a net profit of SR8.37 million for 2024, a 69.48 percent increase compared to 2023. The growth was primarily driven by a 13 percent rise in revenues, a 98 percent drop in zakat provisions, a 39 percent reduction in financing costs, and a decline of SR1.18 million in investment properties. Al-Moammar Information Systems Co. has signed a SR58.6 million contract with the Saudi Authority for Data and Artificial Intelligence to enhance the AI network through software and services. According to a bourse filing, the 36-month deal is expected to generate positive financial impacts starting in Q1 2025. The stock closed at SR160.40, up 0.51 percent. Al-Sagr Cooperative Insurance Co. received an Insurer Financial Strength Rating of 'BBB' and a National IFS Rating of 'A+' with a stable outlook from Fitch Ratings. The ratings reflect Al-Sagr's strong capitalization, solid financial performance, and well-diversified insurance portfolio, despite its moderate operating scale within the Saudi insurance market. Al-Sagr's stock closed at SR18.10, up 3.20 percent.
