Mobily shares hit month-high gaining 3.6%

Shares of Etihad Etisalat, known as Mobily, rose 3.62% on Tuesday to hit the highest level in a month at SR 42.90 gaining SR 1.50 from yesterday’s close.

With this surge, the stock’s gains rose 37.7% to SR 11.75 year to date compared to the last year-end’s close at SR 31.15.

Mobily’s stock rise today contributed to the Saudi telecommunication sector gains of 0.59% (46 points) as a whole.

It should be noted that Mobily reported profit surge of 36.9% to SR 1.07 billion in 2021 compared to SR 783 million in 2020.