AVI pick of the day

Graeme Franck from PSG Wealth Sandton Grayston chose AVI as his stock pick of the day.

"So I'm going to go for AVI, it's a very defensive stock , the share price has been pretty much flat to down over the last year when the market has been up. The PE in turn has come all the way down to 13 times and it's paying a dividend yield of about 7%. So, if you do believe in the SA inc. economic recovery story this is probably a good one."