10 things to watch on Tadawul today

Here are a few things you need to know as Saudi stocks start trading on Wednesday.

1) Makkah Construction and Development Co. turned to a net profit after Zakat and tax of SAR 4 million for the fiscal year ended 29 Rabi Al-Thani, 1443 (Dec. 4, 2021).

2) Watani Iron Steel Co. (Watani Steel) reported a net profit after Zakat and tax of SAR 47.1 million in 2021, a 51% increase year-on-year (YoY).

3) National Medical Care Co. (Care) reported a net profit after Zakat and tax of SAR 136.4 million for 2021, a 40% increase YoY.

4) Hail Cement Co. reported a net profit after Zakat and tax of SAR 42.4 million for 2021, a drop of 60% YoY.

5) Al-Etihad Cooperative Insurance Co. reported a net profit of SAR 33.4 million for 2021, an increase of 21% YoY.

6) Shareholders of Amana Cooperative Insurance Co. approved proceeding with the capital increase procedures and obtaining the required regulatory approvals.

7) Aldrees Petroleum and Transport Services Co.’s shareholders approved the board’s recommendation on paying cash dividend at 15% of capital, or SAR 1.5 a share, for 2021.

8) National Metal Manufacturing and Casting Co. (Maadaniyah) announced the extension of the memorandum of understanding (MoU) signed with IGL Group to establish an aluminum foundry plant.

9) Saudi Enaya Cooperative Insurance Co.’s accumulated losses reached 61.1% of capital, or SAR 91.7 million, as on Feb. 27, 2022.

10) Brent crude on Wednesday gained $5.41 to reach $110.38 per barrel. WTI crude also increased $5.57 to reach $108./bbl.