WATCH: Stock picks — Naspers and Merafe Resources

Wayne McCurrie from FNB Wealth & Investments chose Naspers as his stock pick of the day and David Shapiro from Sasfin Securities chose Merafe Resources.

McCurrie said: “Going for Naspers, I think they will backtrack when they see the market reaction because they are clearly, as David said earlier, aware of the market and aware of the reactions and they need Big Tech. There is a lot of reserve in the Naspers share price to put it another way, there’s lots of inherent value there if all of the other investments come to fruition over time.”

Shapiro said: “You have to look at Merafe, they came out with their results and I always like to go through numbers, the share’s trading at 80c, I think it’s up to 90c now. They have got R700m or almost R800m on the balance sheet in cash, the market cap is only about R2bn or just over … I can’t find anything to counter it so, if anybody wants a wild punt and it’s only for a few bob, this has got to be that.”