WATCH: Stock pick — KAP Industrial Holdings

Nick Kunze from Sanlam Private Wealth chose KAP Industrial Holdings as his stock pick of the day.

“As a short-term investment we like KAP Industrials, we waited for an overhang in the stock, so now that Steinhoff has been resolved and they sold a big chunk of it last week, we think the overhang is gone.

“Another classic example as they managed to grow earnings per share 10%-12% year on year, bearing in mind we had a recession at the end of last quarter. A classic example of a local industrial stock that is doing the right thing, and still managing to grow their business in a tough environment.”