Day's Trending Saudi Stocks | Rasan Information Technology Co.: The Daily Gain Is 7.6%, IPO Success Boosts Capital, Stock Trades High on Market Debut
RASAN 8313.SA | 79.90 | -0.25% |
MEDGULF 8030.SA | 27.15 | -0.91% |
ZOUJAJ 2150.SA | 56.70 | +0.53% |
UIHC 4083.SA | 182.00 | -2.67% |
THEEB 4261.SA | 77.10 | -0.39% |
Editor's Note: the "Trending Saudi Stocks" column tracks the day's top bullish stocks in the KSA market, aiding investors in promptly identifying opportunities for potential gains.
At the close of 26/12/2024, the Tadawul All Shares Index dropped by 0.28%, closing at 11859.47 points; the Parallel Market Capped Index dropped by 0.39%, closing at 30886.71 points. Sahm has compiled the Top 10 Daily Stock Price Gainers in the KSA market.
The Top 10 Daily Gainers in the KSA market are listed as follows:
Rasan Information Technology Co.: The daily gain is 7.6%, IPO success boosts capital, stock trades high on market debut.
In a noteworthy development, the possible reasons for the stock price increase of 8313.SA (Rasan Information Technology Co.) may be: 1. Exceptional market performance, with a 7.6% daily gain and a remarkable 114.9% year-to-date increase, signaling strong investor confidence. 2. Outperformance of its sector, as Rasan's 114.9% YTD growth significantly surpasses the insurance industry's 18.71% increase. 3. Successful IPO and subsequent performance, ranking as the fifth-best performing IPO in the Saudi stock market for 2024 since its June 13 listing. 4. High trading activity, with 1.1 million shares traded in a single day, totaling 93.3 million riyals across 12,000 transactions, indicating robust investor interest. 5. Recent capital increase approval by the Saudi Capital Market Authority, potentially viewed as a positive sign for growth and employee retention strategies.
The Mediterranean and Gulf Insurance and Reinsurance Co.: The daily gain is 7.2%, secures major health insurance deal with Saudi Electricity Company.
Medgulf, a publicly traded insurance company, has been listed on the Saudi Stock Exchange (Tadawul) since 2007. Established in 2006 and headquartered in Riyadh, Saudi Arabia, the firm specializes in multi-line insurance within the broader insurance sector. Medgulf's operations focus on providing a diverse range of insurance products and services to meet market demands.
In a noteworthy development, the possible reason for the stock price increase of 8030.SA (The Mediterranean and Gulf Insurance and Reinsurance Co.) may be the company's recent contract win with Saudi Electricity Company (SEC). Medgulf secured a significant one-year health insurance contract for SEC employees and their families, commencing January 1, 2025. The contract value exceeds 40% of Medgulf's 2023 total revenue, potentially boosting the company's 2025 profits. This news sparked investor interest, driving the stock up 7.2% on the day and contributing to its impressive 72.2% year-to-date gain. The stock's trading volume surged to 1,187,647 shares, substantially above its three-month average, indicating strong market enthusiasm for Medgulf's growth prospects.
The National Company for Glass Industries: The daily gain is 4.2%, announces dividend and expands production capacity to meet growing demand.
The National Company for Glass Industries, commonly referred to as Zoujaj, has been a publicly traded entity on the Saudi Stock Exchange (Tadawul) since December 1993. Operating within the Materials sector, the company specializes in Metal and Glass Containers. Headquartered in Riyadh, Saudi Arabia, Zoujaj was founded in January 1990 and has since established itself as a significant player in its industry.
In a noteworthy development, the possible reasons for the stock price increase of 2150.SA (The National Company for Glass Industries) may be attributed to several factors. The company's shares surged 4.2% today, contributing to an impressive year-to-date gain of 38.0%. This upward momentum coincides with the announcement of an imminent cash dividend distribution within the coming week, potentially attracting investor interest. Additionally, the company has commenced trial production on its newly added sixth production line for glass containers, boasting an annual capacity of 25,000 tons. This expansion, approved by the board in November 2023, is expected to generate an additional annual net income of approximately 10 million Saudi Riyals starting from Q1 2025, signaling potential future growth and improved financial performance.
Company Symbol | Capital (Billion Riyals) | Latest Gains | Change since the Beginning of the Year |
| Rasan Information Technology Co.(8313.SA) | 6.03 | 7.6% | 114.9% |
| The Mediterranean and Gulf Insurance and Reinsurance Co.(8030.SA) | 2.6 | 7.2% | 72.2% |
| The National Company for Glass Industries(2150.SA) | 18.16 | 4.2% | 38.0% |
| United International Holding Co.(4083.SA) | 4.38 | 3.9% | 32.6% |
| Theeb Rent a Car Co.(4261.SA) | 3.15 | 3.2% | 11.4% |
| The Power and Water Utility Company for Jubail and Yanbu(2083.SA) | 13.25 | 2.5% | -18.2% |
| National Medical Care Co.(4005.SA) | 7.64 | 2.4% | -1.9% |
| Thimar Development Holding Co.(4160.SA) | 0.29 | 2.0% | -8.9% |
| Saudi Pharmaceutical Industries and Medical Appliances Corp.(2070.SA) | 3.82 | 1.8% | -15.3% |
| Saudi Investment Bank(1030.SA) | 18.2 | 1.8% | 14.0% |
Editor's note: This content was generated by Sahm's in-house AI-enabled SaaS tool and was reviewed by our editing team.
