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OMSEC Morning Note 08 09 2022
OMSEC Morning Note 08 09 2022
08 SEPTEMBER 2022
MORNING NOTE │ZIMBABWE
08 SEPTEMBER 2022
ZSE INDICES
MAIN INDICES Today Day Change % YTD Change % SECTOR ANALYSIS Today Day Change % YTD Change %
ALSI 13 245.47 (3.04%) 22.39% Financials 23 958.04 (0.40%) 70.87%
MINING INDEX 17 292.52 0.00% 121.26% Consumer Discretionary 18 060.11 (2.33%) 47.42%
TOP 10 7 775.51 (4.59%) 14.15% Consumer Staples 16 177.67 (2.78%) 18.31%
TOP 15 8 780.43 (3.97%) 16.62% Materials 10 809.94 0.47% 23.73%
SMALL CAP 485 942.92 0.38% 20.66% Industrials 16 599.55 0.21% (12.33%)
MEDIUM CAP 29 320.78 0.29% 43.68% ICT 16 251.61 (7.32%) (1.04%)
Real Estate 8 539.59 (3.07%) (2.61%)
Dividends Declared
COMPANY Announced Last Day Payable Amount (ZWc) Final/Interim
FCA 26 August 2022 06 September 2022 14 September 2022 44.20 Interim
ZBFH 30 August 2022 TBA TBA 77.18 Interim
FBCH 31 August 2022 19 September 2022 30 September 2022 148.82 Interim
CBZH 10 June 2022 TBA TBA 191.57 Final
UNIFREIGHT 08 July 2022 TBA TBA 59.00 Final
Recommendations
BUY
First Capital Bank -steady performer that inherited strong banking culture from Barclays.
- consistent dividend payer
Innscor -Strong foreign currency generation through competitive USD pricing
-consistent dividend payer
Econet - significant pricing power and a bigger market share
-consistent dividend payer
Delta - Strong foreign currency generation through local and regional operations
- Monopolistic market structure across its product offerings with an estimated
market share of 95% in Lager beers, 86% in Chibuku and 65% in sparkling
beverages.
-consistent dividend payer
Meikles -well diversified in Supermarkets and Hotels
-strong cash generation
-a consistent dividend payer
Axia -The business has been consistently growing despite several constraints
being experienced in the economy
- steady demand for their products
-attractive fundamentals
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