TASI

JEDDAH: Saudi Arabia’s Tadawul All Share Index held firm on Wednesday, losing just 1.66 points, or 0.02 percent, to close at 10,779.96 

As investors traded around 168 million shares worth nearly SR3.5 billion ($933 million), 113 stocks advanced and 147 declined. 

The Kingdom’s parallel market Nomu lost 2.77 points, or 0.01 percent, to close at 21,376.05, with 30 companies gaining and 33 declining. The MSCI Tadawul 30 Index also fell 0.08 points, or 0.01 percent, to close at 1,450.01. 

Market movers 

The main market’s top performer was Raydan Food Co., whose share price increased 10 percent to end the session at SR16.28, while Nofoth Food Products Co. recorded a 9.87 percent increase to close at SR6.57.

Ataa Educational Co. also increased 4.75 percent to end the day at SR42.76. 

On the losing side, Armah Sports Co. decreased 4.92 percent to close at SR67.60, while Flynas Co. declined 4.46 percent to end the session at SR42.02.

Sumou Real Estate Co. also declined 4.13 percent to close at SR25.08. 

Corporate disclosures 

Saudi Vitrified Clay Pipes Co. said Laffan Pipes Co., or Laffan Saudi, has been converted from a one-person limited liability company into an unlisted Saudi joint stock company with issued capital of SR45.5 million, according to a Tadawul filing. 

Laffan Pipes Factory Co. of Qatar has completed its admission as a shareholder through a capital increase against an in-kind contribution, giving it a 45 percent stake in Laffan Saudi, while SVCP retains the remaining 55 percent. 

Laffan Saudi’s issued capital comprises 45.5 million ordinary shares, each with a nominal value of SR1, and has been fully paid through in-kind contributions.  

The development follows an MoU signed between the two companies in February 2024 and a partnership agreement signed about six months later. 

SVCP’s shares declined 3.12 percent to close at SR17.99. 

In another disclosure, Umm Al-Qura for Development and Construction Co. said it signed an agreement to sell a 2,500-sq.-meter plot within Masar Destination in Makkah to Rawajeh Real Estate Co. for SR168.91 million. 

The boulevard-facing plot, located in Zone 2 of Masar Destination, has a book value of SR76.01 million. 

Umm Al-Qura, whose shares rose 2.50 percent to SR17.20, said the sale is part of its development strategy for Masar Destination, with the plot to be developed as a residential tower.

The transaction is expected to have a positive impact on liquidity and financial results, with proceeds to be used to finance working capital and ongoing projects. 

In a separate Tadawul filing, CATRION Catering Holding Co. said it signed an agreement with Air Arabia DMM Co. to provide inflight catering services under a five-year contract valued at an estimated SR200 million.  

Under the agreement, CATRION will provide inflight catering services, sell onboard food, beverages and other supplies, and provide logistics services to Air Arabia.  

The agreement was signed on Sept. 15 and is expected to have a financial impact beginning in the fourth quarter of 2026. 

CATRION, whose share price fell 0.74 percent to SR67.25, said the agreement is part of its strategy to sustain business, strengthen long-term partnerships with airline-sector clients, support growth, diversify revenue streams and enhance operational efficiency. 

RIYADH: Saudi Arabia’s Tadawul All Share Index slipped on Sunday, losing 142.70 points, or 1.30 percent, to close at 10,864.57. 

The total trading turnover of the benchmark index was SR3.83 billion ($1.02 billion), as 42 of the stocks advanced and 221 retreated.   

Similarly, the Kingdom’s parallel market Nomu lost 53.44 points, or 0.25 percent, to close at 21,579.19. This comes as 25 of the stocks advanced while 47 retreated.   

The MSCI Tadawul Index lost 18.52 points, or 1.25 percent, to close at 1,458.75.     

Top gainers, losers 

The best-performing stock of the day was Armah Sports Co., whose share price surged 9.95 percent to SR71.85.   

Other top performers included Arriyadh Development Co., whose share price rose 5.68 percent to SR16.75, as well as Saudi Reinsurance Co., whose share price surged 3.67 percent to SR28.82.

Saudi Aramco Base Oil Co. recorded the most significant drop, falling 9.97 percent to SR127.30. 

Knowledge Economic City also saw its stock price fall 5.08 percent to SR18.88. 

Allied Cooperative Insurance Group also saw its stock price decline 4.96 percent to SR7.85. 

Corporate announcements 

TAM Development Co. received an amendment letter to the award letter for the “Provision of Advisory Services for Community Engagement and Event Management for Green Riyadh Program” project, awarded by the Royal Commission for Riyadh City. 

According to a Tadawul statement, the amendment involves the cancellation of an operational line item and will not affect the project’s overall profit margins. The total contract value has therefore been revised to SR12.5 million, inclusive of VAT, while the remaining scope of work will continue under the amended contract with no other changes. 

The financial impact will be reflected in the company’s financial results based on implementation progress and the periods in which the related revenue and costs are recognized. The ultimate impact on net profit will depend on the costs associated with the excluded scope and those incurred in completing the remaining work. The company said it will announce any material developments in due course. 

TAM Development ended the session at SR59.50, down 0.25 percent. 

Anmat Technology for Trading Co. announced the signing of a SR51 million contract with the Oversight and Anti-Corruption Authority, or Nazaha, to supply and install specialized equipment at one of the authority’s premises. 

According to a bourse filing, the contract has a duration of 150 days. 

Anmat Technology for Trading Co. ended the session at SR9, down 3.33 percent.