Nesan Nair from Sasfin Securities chose Mondi as his stock pick of the day, and Siboniso Nxumalo from Old Mutual Wealth chose The Foschini Group.

Nair said: “I’m going for Mondi, the share price has been so strong recently, even with a stronger rand. If you have a look at it post the big Covid-19 sell-off that we saw in March, Mondi has actually been one of the strongest sustainable shares. There’s a lot of underlying value there, on a fundamental basis you can make a good argument for that container board business that they have so it’s going to be my stock for tonight.”

Nxumalo said: “I’m going to stay in SA. The Foschini Group is probably going to be one of the greatest value creation stories in SA over the next few years. Why? Because they have been doing quite a lot of work in terms of their supply chain and they probably have the best and localised prices, their clothes are sold in SA and are being made in SA.

“We saw with Covid-19 that most companies are starting to choose locally manufactured clothing instead of sourcing from China. TFG also raised some capital and then went and bought Jet at a steel and those assets are going to plug into the portfolio of different brands and assets and I think that this is going to set them up for great success.”

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