Stock Watch - Stock Picks — Altron and Investec

David Shapiro from Sasfin Securities chose Altron as his stock pick of the day and Wayne McCurrie from FNB Wealth & Investments chose Investec

Shapiro said: "A business in that is doing very well in the challenging times. They got rid of all the old legacy businesses. It is a pure IT company with a high level of annuaty income of around 60%-70%. They are a services business, there is no capital outlay, they are not dragged down by capex."

McCurrie said: "I choose Investec, we all know they are splitting their company into asset management and the bank. On current valuations the asset management is a very good business and the bank is going to trade significantly below book value or net asset value and management there seems determined that they are going to cut their expenses, which they have already started by closing a few businesses to try and unlock capital. A lot of the legacy assets are out of the system now and it really does look cheap."
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