Chantal Marx from FNB Wealth & Investments chose RMH as her stock pick of the day and Neelash Hansjee from Old Mutual Investments chose Transaction Capital.
Marx said: “At a whopping R1.90, my stock pick is Rand Merchant Holdings [RMH], it used to have a big stake in FirstRand, which they unbundled about a year or so ago, and now all they have left is some property and a little bit of cash. Initially, they were looking to grow that property portfolio or invest into it, but they have since changed their tune and I think they are progressively winding up that business.”
Hansjee said: “My stock pick is Transaction Capital, it’s literally a company that is driving SA forward and is basically a play on community and mobility in SA. They purchased WeBuyCars in September last year as you saw car purchases recovering, so the timing was just incredible.”