https://arab.news/57m9n
- MSCI Tadawul Index increased by 2.44 points, or 0.16%, to close at 1,521.20
- Parallel market, Nomu, dropped by losing 87.15 points, or 0.30%, to close at 29,161 points
RIYADH: Saudi Arabia’s Tadawul All Share Index rose by 0.03 percent or 3.25 points to reach 12,106.41 points on Monday.
The total trading turnover of the benchmark index was SR7.49 billion ($1.99 billion), as 92 stocks advanced, while 133 retreated.
The MSCI Tadawul Index increased by 2.44 points, or 0.16 percent, to close at 1,521.20.
The Kingdom’s parallel market, Nomu, dropped by losing 87.15 points, or 0.30 percent, to close at 29,161 points. This comes as 39 stocks advanced, while as many as 41 retreated.
The index’s top performer, Alandalus Property Co., saw a 5.47 percent increase in its share price to close at SR24.70.
Other top performers included Rasan Information Technology Co. and Dar Alarkan Real Estate Development Co., with share prices rising by 5.16 percent to SR83.60 and 5.09 percent to SR17.76, respectively.
Al-Omran Industrial Trading Co. and Dr. Soliman Abdel Kader Fakeeh Hospital Co. also recorded positive trajectories today, with share prices rising by 4.18 percent to SR39.85 and 3.74 percent to SR61.10, respectively.
On the announcement front, Arabian Drilling has secured a 10-year contract extension for one of its land rigs with Saudi Aramco, the company announced today in a bourse filing.
The extension is set to commence immediately after the current agreement concludes in the fourth quarter of the year. The estimated backlog associated with the new contract is valued at approximately SR440 million.
Ghassan Mirdad, CEO of Arabian Drilling, highlighted the significance of the extended partnership with Saudi Aramco.
“We are very pleased with the contract extension as we continue to build on our long-term partnership with Aramco and deliver exceptional service,” Mirdad said.
“The material backlog of approximately SR440 million will support our future growth,” he added.
Arabian Drilling closed Monday’s trading session with a 2.11 percent increase in its share price to reach SR116.20.
The Middle East Paper Co. announced that its subsidiary, Juthor, has signed an agreement with Austria-based Andritz AG for the procurement, supply, and installation of a main production line machine.
The contract encompasses the purchase of a complete tissue paper production line, with an annual capacity of 60,000 tonnes and a speed of 2,100 meters per minute.
The agreement value represents less than 25 percent of MEPCO’s total revenue, as reported in its most recent audited financial statement. The duration of the deal is set for 24 months, with the monetary impact expected to begin in the fourth quarter of 2026.
MEPCO also released its financial results for the first nine months of the year, recording SR775.4 million in revenue, a 20 percent increase compared to the same period last year.
The company recorded losses of SR33.7 million, an improvement on the SR50.1 million last year.
MEPCO’s share price dropped by 0.51 percent by Monday’s close to settle at SR38.95.
Middle East Specialized Cables Co. also released its financial results for the same period to record a 24.9 percent year-on-year revenue increase.
The company saw SR830.4 million in sales and SR68.7 million in net profits, a 78.9 percent increase from last year.
Revenue growth was mainly driven by higher sales order volumes across all sectors, particularly in the oil and gas segment. The company secured a greater number of bids and orders compared to the same period last year.
The net profit surge was attributed to increased sales volume, improved profit margins, and enhanced operational efficiency during the current period.
The company’s share price dropped 2.37 percent by Monday’s close to settle at SR37.10.