Scotia Group headquarters
Scotia Group’s stock price slipped during the week from $42 at the end of the previous week and closed trading at $39.50 Friday and pushing it back into the Main Market ICTOP10 listing and in the process displaced Sterling Investments that reentered the list last week, these were the only changes in and out of the ICTOP10.
More mid-year results were released during the week but had little or no effect on prices as the markets seemed to have suffered from mediocre demand by investors, but there appears some added interest in Caribbean Cement and GraceKennedy.
The PE Ratio of the TOP 10 Junior Market stocks trade at a 47 percent discount to the market average and Main Market stocks 54 percent, indications of the potential gains in these stocks compared with many of that are outside.
The top three stocks in the Junior Market, continue to be Elite Diagnostic, followed by Caribbean Assurance Brokers and Medical Disposables, with the potential to gain between 256 percent and 336 percent compared to 221 and 287 percent, last week. Medical Disposables continues the addition of new products to its portfolio that will add revenues and profit going forward. The acquisition of the 60 percent majority ownership in Cornwall Enterprises, will result in economies of scale and an expanded portfolio to market nationally to an expanded clientele.
The top three Main Market stocks are Radio Jamaica in the number one spot, followed by JMMB Group and Guardian Holdings, with expected gains of 191 to 296 percent, versus last weeks’ 184 to 296 percent. 
The Top10 Main Market leader Radio Jamaica continues to enjoy buying interest that is whittling away the supply of stocks on offer in the market. A barrage of new results are due this coming week as the final reporting day for the period will be Saturday this coming week.
This past week the average gains projected for the Junior Market, moved from 207 percent last week, back to 218 percent and Main Market stocks moved to 175 percent from 173 percent.
The Junior Market closed the week with an average PE 12.3 based on ICInsider.com’s 2021-22 earnings and currently trades well below the target of 20 as well as the recent historical average of 17, for the period to March this year based on 2020 earnings.
The JSE Main Market ended the week with an overall PE of 16.3, a little distance from the 19 the market ended at in March, suggesting a 17 percent rise at a PE of 19 and 23 percent at a PE of 20 from now to March 2022. The Main Market TOP 10 trades at a PE of 7.5, with a 54 percent discount to the PE of that market, well off the potential of 20.
For the Junior Market to trade at the historical average, the PE Ratio would have to rise 38 percent and requires a rise of 63 percent to reach the targeted PE of 20 by March 2022. Main Market stocks would have to rise by 17 percent to hit a PE of 19 and 23 percent to get to the target of 20. The Junior Market Top 10 stocks average PE is a mere 6.5, just 53 percent of the market average, indicating substantial gains ahead.
The TOP10 stocks are not always the best stocks in the market but ones that are most likely to be the best winners within a fifteen months period. 
IC ranked stocks to filter out the big winners, allowing investors to focus on potentially big winners and help to keep out emotional attachments to stocks.
IC TOP10 stocks are likely to deliver the best returns up to March 2022 and ranked in order of potential gains, based on likely increase for each company, taking into account the earnings and PE ratios for the current fiscal year. Expected values will change as stock prices fluctuate and result in movements in and out of the lists weekly. Revisions to earnings per share are ongoing, based on receipt of new information.
Persons who compiled this report may have an interest in securities commented on in this report.
