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UEGCUpper Egypt Contracting (stock symbol)
UEGCUganda Electricity Generation Company (utilities)
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Real estate stocks pushed the market up with Delta Construction and Rebuilding, Upper Egypt Contracting and El Obour Real Estate Investment among the top fiver gainers.
Upper Egypt Contracting (UEC), a builder of low-cost housing and hotels, expects to treble its profit over the coming two years as Egypt's construction market grows, its chairman said on Tuesday.
Hassan said that his firm has awarded Upper Egypt Contracting to build 12 villas in Heliopolis while gave General Co.
Upper Egypt Contracting said that the company is currently studying two potential construction projects, one in Sixth of October City and the other in Maadi, to be established in collaboration with the National Real Estate Bank for Development.
The seven new companies included Palm Hills Development, Upper Egypt Contracting, Egyptian Electrical Cables, Alexandria Spinning and Weaving, Extracted Oils, Egyptian Resorts and Nile Cotton and Ginning.
The biggest negative force on the market -- both in terms of volume and turnover -- was Upper Egypt Contracting, which plummeted 22.
The six firms replace Upper Egypt Contracting, Alexandria Spinning & Weaving, Alexandria Mineral Oils, Extracted Oils, United Housing & Development, and Egyptian Media Production City.
In a release sent to the Stock Exchange, Upper Egypt Contracting unveiled plans to buy treasury shares with a total value between LE 40 million and LE 60 million once the company has the required liquidity.
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