The Most Profitable Stocks at the NSE: January 2024 to Date

The Nairobi Securities Exchange (NSE) remains one of the most popular investment platforms, offering investors a chance to grow passive income through capital gains and dividends. 

Navigating the market requires skill and the research to know which stock to buy and when to buy it. The NSE20, Kenya's main stock market index, has demonstrated impressive growth since the start of this year, rising by 149 points or 7.42%. This index tracks the performance of the top 20 best-performing companies on the exchange over 12 months, by considering factors such as shares traded, turnover, and market capitalization. 

Despite the tough economic climate, several stocks on the NSE have continued to perform exceptionally well. In this article, we take a look at some of the highest returning stocks in terms of capital gains, by analysing price appreciation over the past year. 

Also Read: With a 50K Salary, How Do I Balance Saving in a Sacco & Buying Shares?

Top Performing Stocks from January 2024 to Date (As of February 5th, 2025)

Kenya Power and Lighting Company (KPLC)

Operating within the utilities sector, KPLC has experienced an impressive year-on-year growth of 370.67%. The current share price stands at Ksh7.06. 

According to the NSE's daily price list on January 10th, 2024, KPLC shares were priced at Ksh1.45. Had you invested Ksh50,000, you would have purchased approximately 34,482 shares. Based on the current price of Ksh7.06, your investment would now be worth Ksh243,345.52.

TransCentury Ltd 

TCL has shown notable year-on-year growth of 204.17%. The current share price stands at Ksh 1.46, fluctuating at the rate of -9.88%. 

On January 10th, 2024, the share price was at Ksh0.51. This implies that with an investment of Ksh50,000, your shares would now be worth Ksh 143,770.94. The company has benefited significantly from growth in tech manufacturing and gadget production, further driving its success.

East African Cables Ltd (CABL)

 The company operates in the producer manufacturing sector and has shown a year-on-year performance of +171.72%. The current share price is Ksh 2.69, fluctuating at a rate of -9.73%. On January 10th, 2024, the share price was Ksh0.94. If you had invested Ksh50,000 in their shares, they would now be worth approximately Ksh143,085.

Home Afrika Ltd (HAFR)

The operations within the real estate sector have also been performing well with a year-on-year performance of +164.71%. Their current share price is Ksh0.90, fluctuating at the rate of +9.76% change. At the beginning of 2024, their share price was about 0.39. With an investment of Ksh 50,000, your stock would now be worth Ksh115,384.6.

KenGen Ltd (KEGN)

Operating in the same sector as KPLC, has also shown impressive growth over the last year. The company’s year-on-year growth was +129.65%, with a current share price of Ksh4.57. In early 2024, their share price was Ksh2.00. An investment of Ksh50,000 would now be worth approximately Ksh114,250.

Also Read: Do I Move My Retirement Savings from a Sacco to a Retirement Scheme or Use an MMF?

Other Companies that have performed quite well over the past year:

1. KCB Group (Ksh45.10) - 120.54%
2. Flame Tree Group Holdings (Ksh2.29) - 104.46%
3. I&M Holdings PLC (Ksh35.50) - 102.86%
4. Standard Chartered Bank (Ksh278.00) - 71.60%
5. East African Breweries (Ksh182.00) - 55.56%

Assuming someone invested Ksh 50,000 in January 2024, their shares would now be worth:

Also read: Saccos With the Highest Dividends [So Far Announced in 2025]Wrapping UpWhen evaluating stock performance, consider the stock’s year-on-year growth and price changes, especially if you’re buying to speculate. If your goal is to hold shares long-term, assess the company’s dividend payout structure. Diversifying your investments across different sectors and asset classes helps create a more balanced portfolio. The stock market is influenced by various factors and trends; therefore, staying informed enables smarter decision-making.