Market Wrap - Stock Pick — Sasol

Steven Schultz from Momentum chose Sasol as his stock pick of the day.

"So my stock pick is Sasol, I know it's a strange one given last week's sell-off. The sell-off came on the new discovery announcement and that their capex (capital expenditure) would be increasing by about $1 billion US dollars on the Lake Charles project which is now only 86% complete but should be coming online in a couple of months. It does create a bit of discomfort in their debt profile for the next 18 - 24 months and at R55 per share it is a great opportunity to buy now as management did mention they are going to dispose of non-core assets to the the value of 2$ billion US."