Tharwa Capital is set to pursue its upward trajectory on Thursday: analysts

Wednesday 31 October 2018 09:03 PM

Tharwa Capital
Tharwa Capital

By Mona Abd El-Bary
With it reversing a downward trend to 10 percent gains in Wednesday's closing session, Tharwa Capital share is expected to pursue on Thursday the turnaround on the backdrop of Egyptian Stock Exchange's removing pricing limits of the share as well as the selective purchasing offer submitted by Orascom Investment Holding. 
Although Tharwa share rose by 10 percent to close at EGP6.17, OIH rose slightly by 0.72 percent to close at EGP0.55. 
" Tharwa Capital share will continue the rallying trend in Thursday's session to spike by 10 percent owing to strong speculations," said head of domestic corporations at Rowad Securities Mohmed Kamal. 
Also, chairman of Themar Securities Adel Abd El-Fattah predicted Tharwa Capital share to spike to EGP7 at minimum in Thursday's session on the backdrop of removing the stock's  pricing limits. 
" Orascom Investment Holding has filed a bid to acquire Tharwa Capital only two weeks after the latter's stock was offered, standing as a reason for astonishment," said he. 
Even in case the acquisition deal floundered, OIH's bidding will bolster Tharwa's share which plunged by 20 percent since October 9, market sources explained.