Mark du Toit from Courtney Capital Private Wealth chose Metair Investments as his stock pick of the day and Ashraf Mohamed from Arqaam Capital chose Absa. Du Toit said that Metair’s acquisition in Turkey is a bit unfortunate due to the current political situation, “but they still export a lot of batteries out of Turkey so the production costs in the factories are reduced due to their weakening currency. The revenue is protected as the batteries are exported in euros. The company was unfairly punished due to media hype about not needing car batteries as electric cars would be replacing petrol and diesel motor vehicles, but they are producing a record number of car batteries and are exploring lithium ion batteries as another possible revenue stream,” he said. Mohamed pointed to Absa’ Portfolio Manager at Arqaam Capital chose Absa (ABG) as his stock pick of the day, with their R4,30 dividend coming up in the next ten days. Irrespective of the management team the business will turn arou...
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