Nairobi Securities Exchange Stock Picks - March 2014 - myStocks: Opinion and Commentary
Nairobi Securities Exchange Stock Picks - March 2014
CFC Stanbic Bank
- Consolidation after the merger.
- 70% rise in PAT FY2013
- Attractive valuation compared to its peer. Price to book of 1.3, sector P/B 2.2
- Real Estate play - Uganda and Runda development
- Rea Vipingo offer - 10,000 acres in Kenyan coast
- Strong major shareholders- to increase share holding from 24 to 29%
- Recent acquisition of second largest Kenya Asset Manager
British American Investment Company- Britam
- Recent acquisitions of Real Insurance resulting to Britam becoming the 2nd largest General Insurance Company and the largest Ordinary Life Insurance Company in Kenya.
- Acquisition of 25% stake in Acorn Group, a renowned property development firm will boost the company’s property business strategy.
- Launch of new products which have become favourite with the market- Linda Jamii
- KenolKobil has the largest overall market share (including exports). The company operates in 8 African countries giving it a wider coverage compared to other local players.
- Recovery from a loss in 2012. Half year results in 2013 reported return to profitability.
- Remains a target for take over for any petroleum company looking for a stake in East and Central Africa
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