Doha – Mubasher: Watani Investment Company (NBK Capital) recommended “Hold” on Industries Qatar’s share, setting the fair value at QAR 126.
NBK capital, the investment arm of the National Bank of Kuwait, said in its report that the share is not as appealing as it was in 2014, as the company approved yesterday cash dividends at 50% of the capital or QAR 5 per share for the fiscal year 2015, compared to QAR 7 per share a year earlier.
The report showed a decline of 8% in the share since the last assessment on 23 December 2015.
NBK capital earlier reduced the share’s fair value from QAR 132 to QAR 126 by the end of last December, and recommended “Buy”.
The Qatar-listed company’s share dipped on Thursday 4.93% to QAR 104.1, as 127,140 shares were exchanged at QAR 13.31 million in mid-trading.
