Neelash Hansjee from Old Mutual Investments chose FirstRand as his stock pick of the day and Alex Duys from Umthombo Wealth chose AVI.
Hansjee said: “I like FirstRand, it’s one of the more quality plays in the SA banking sector. It has good franchises in FNB, which has got a strong ecosystem in eBucks, which helps retain its customers and also help them to spend.”
Duys said: “A company which I really like is AVI. I think AVI generates excellent cash flows and it’s got a history of paying back very good dividends, but also special dividends every now and again. And I think in this current environment where there is a lack of perhaps M&A opportunities or lack of growth, this quality management team will probably look to get more capital back to shareholders.”
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