ICTOP10 listed Jamaican Stock Exchange stock price surged to a 52 weeks’ high of $24 on Friday with a gain of 28 percent in the week as Caribbean Producers jumped 21 percent to $18.20, followed by a 12 percent gain in JMMB Group that closed the week at $51.89 after hitting a peak in the week of $61.24, on Tuesday, while Productive Business Solutions rose 12 percent to US$1.19.
In the Junior Market, Stationery and Office Supplies rose 12 percent to $7.88. Jetcon Corporation recovered lost grounds with a rise of 11 percent to end at $1.10, following knee-jerk reaction by investors to an article in one of the local newspapers in the previous week. Elite Diagnostic plunged 14 percent to $2.57 as a major shareholder sold a portion of their holdings. Caribbean Cream dropped 7 percent to $4.76 and Caribbean Assurance lost 6 percent to land at $2.25.
This stock is in limited supply and replaced Caribbean Producers in the TOP10. Coming into the Junior Market ICTOP10 is tTech that slipped in price and came in at the expense of General Accident. The latter will be a big beneficiary of the hike in interest rates on its $4.5 billion investment and cash funds.
Scotia Group is ICInsider.com’s new stock for the future that comes into the Main Market ICTOP10 at number 9, with projected earnings of $4.47 per share as the group generates increasing income from the sharp hike BOJ induced hike in interest rates on investments.
Transjamaican Highway, an ICTOP10 listing in the previous week, closed out this past week with a rise to an all-time high of $1.78 before closing at $1.70 for the week.
The average PE for the JSE Main Market TOP 10 is 6.2, well below the market average of 14.8, while the Junior Market PE for the Top 10 is at 5.4 versus the market at 12.9. The Junior Market TOP10 is projected to gain an average of 289 percent to May 2023 and the Main Market 192 percent.
ICTOP10 focuses on likely yearly winners; accordingly, the list may or may not include the best companies in the market. ICInsider.com ranks stocks based on projected earnings to highlight winners from the rest, allowing investors to focus on potential winning stocks and helping to remove emotional attachments to shares that often result in costly mistakes.
IC TOP10 stocks are likely to deliver the best returns up to the end of May 2023. They are ranked in order of potential gains, based on the possible increase for each company, considering the earnings and PE ratios for the current fiscal year. Expected values will change as stock prices fluctuate and result in weekly movements in and out of the lists. Revisions to earnings are ongoing, based on receipt of new information.
Persons who compiled this report may have an interest in securities commented on in this report.
The PE Ratio, a measure used in computing appropriate stock values, averages 13.1 based on ICInsider.com earnings forecast for fiscal years ending August 2022 to August 2023.
At the close, Access Financial rallied $1.75 to $21.95, trading 960 shares, Blue Power popped 19 cents to $4.14, with 100 stock units crossing the exchange, Cargo Handlers rose $1.55 to close at $11.90 after exchanging 20 units. Dolphin Cove shed 25 cents in closing at $22.40, with 68,223 stocks changing hands. Elite Diagnostic dropped 42 cents ending at $2.57 with an exchange of 35,844,199 stock units, leaving 85 million units on offer to sell at $2.57 and 30 million on the bid at $2.50 to buy, with excel Investments that owned the largest block of 130 million seems the likely sellers. Fontana climbed 7 cents to close at $9.98 in an exchange of 59,545 stocks. Future Energy Source gained 13 cents to end at $6.15 in trading 873,959 units, Honey Bun advanced 65 cents to $10.15 after 25,781 shares crossed the market, Jamaican Teas increased 7 cents to $3.50 in an exchange of 251,535 units. 
Knutsford Express rose 54 cents in closing at $8 with the swapping of 740 shares, Lasco Financial increased 7 cents to close at $3.50, with 31,500 stock units clearing the market, Main Event declined 16 cents to $7.97 after exchanging 14,438 stocks. Stationery and Office Supplies advanced 8 cents in closing at $7.88 in trading 52,397 stocks, Tropical Battery fell 7 cents to $2.33 with the trading of 1,623,504 units and tTech lost 47 cents in ending at $3.73 in switching ownership of 147,314 shares.
Market activity led to 42 securities trading similar to Wednesday, with 14 rising, 19 declining and nine closing unchanged.
At the close, Access Financial dropped $2.80 to end at $20.20 while trading 16,120 shares, Blue Power dipped 20 cents to $3.95 while exchanging 2,968 units, CAC 2000 slipped 30 cents to $7.05 after an exchange of 150 stocks. Caribbean Assurance Brokers declined 9 cents to $2.30 after trading 82,900 stock units, Caribbean Flavours rose 7 cents to $2 in switching ownership of 2,457 stocks, Derrimon Trading climbed 20 cents to end at $2.72, with 473,732 units crossing the market. Dolphin Cove shed 35 cents to end at $22.65, with 102,790 stock units crossing the exchange, Fontana lost 7 cents in closing at $9.91, with 217,301 shares changing hands, Future Energy Source fell 8 cents to $6.02 trading 408,778 stocks. General Accident increased 11 cents to close at $6, with 2,943 units crossing the market, Honey Bun rallied 48 cents to $9.50 with the swapping of 20,001 shares, Indies Pharma declined 15 cents to $2.90 with an exchange of 441,935 stock units. 
Jamaican Teas dropped 11 cents in closing at $3.43 in exchanging 1,018,229 stock units, Lasco Manufacturing popped 15 cents to close at $5.35 in trading 16,404 shares, Lumber Depot advanced 8 cents to end at $3.70 after 2,516,247 stocks changed hands. Mailpac Group shed 13 cents to close at $3.21 in an exchange of 492,517 units, Main Event gained 13 cents in ending at $8.13 after exchanging 7,738 stocks and Stationery and Office Supplies gained 8 cents to end at $7.80 while 301 shares changed hands.
Market activity led to 42 securities trading down from 45 on Tuesday and ended with 19 rising, 15 declining and eight closing unchanged.
Trading averaged 289,418 shares at $991,095 versus 241,810 shares at $911,971 on Tuesday with month to date, averaging 307,567 units at $1,333,381 compared to 313,476 units at $1,444,823 on the previous trading day. March closed with an average of 719,276 units at $2,636,802.
Indies Pharma shed 10 cents to close at $3.05 in exchanging 73,207 stocks, Jetcon Corporation climbed 6 cents to $1.03 in an exchange of 1,032,759 shares, Knutsford Express dropped 31 cents to end at $7.46 after exchanging 6,973 units. Lasco Manufacturing declined 25 cents to $5.20 while trading 11,105 shares, SSL Venture rose 6 cents in closing at $1.85 with an exchange of 37,579 units, Stationery and Office Supplies advanced 72 cents to close at $7.72 after exchanging 1,169 stocks and Tropical Battery fell 19 cents to close at $2.41, with 1,648,475 stock units crossing the market.
Heading the new list are Productivity Business Solutions, Guardian Holdings, Sygnus Credit Investments, Jamaica Stock Exchange and JMMB Group in the Main Market. At the same time, the Junior Market’s top five are Elite Diagnostic, Medical Disposables, Jetcon Corporation, Caribbean Cream and Access Financial Services. Most of the Junior Market companies suffered from fallout in the economy in 2020 and beyond due to the Covid19 and are recovering. Some of these could deliver above average gains.
Lasco Manufacturing rose 14 percent to close the week at $5.70, AMG Packaging popped 13 percent to $3.15, while Caribbean Assurance Brokers put in a 9 percent rise to close the week at $2.40. Iron Rock Insurance and Tropical Battery added 6 percent to close at $3.60 and $2.62, respectively. In the Main Market, JMMB Group rose 7 percent to $45.95 and Jamaica Broilers lost 7 percent to end at $27.25.
ICTOP10 focuses on likely yearly winners, accordingly, the list may or may not include the best companies in the market. ICInsider.com ranks stocks based on projected earnings to highlight winners from the rest, allowing investors to focus on potential winning stocks and helping to remove emotional attachments to stocks that often result in costly mistakes.
IC TOP10 stocks are likely to deliver the best returns up to the end of May 2023. They are ranked in order of potential gains, based on the possible increase for each company, considering the earnings and PE ratios for the current fiscal year. Expected values will change as stock prices fluctuate and result in weekly movements in and out of the lists. Revisions to earnings are ongoing, based on receipt of new information.
At the close of trading, the Junior Market Index shed 27.63 points to settle at 4,171.59.
At the close, Access Financial lost $1.40 in ending at $19.50 with the swapping of 9,672 shares, Blue Power rose 16 cents to $3.90 after trading 6,233 stock units, CAC 2000 popped 30 cents in closing at $7.35, with 1,394 units changing hands. Cargo Handlers fell $1.10 to close at $11 after exchanging 1,269 stocks, Consolidated Bakeries shed 10 cents to end at $1.31 with an exchange of 188,959 units, Dolphin Cove declined 10 cents to $22.80 while exchanging 97,097 stock units. Fosrich climbed $1 to end at a 52 weeks’ closing high at $20 in trading 152,078 stocks, Honey Bun dropped 17 cents in closing at $9.89, with 56,244 shares changing hands, Iron Rock Insurance rallied 14 cents to $3.74, with 150 stock units clearing the market. KLE Group dropped 43 cents to close at $2.32 in switching ownership of 10,545 stocks, Knutsford Express declined 23 cents to end at $7.77 with 4,893 units changing hands, Lasco Manufacturing fell 24 cents to $5.45 as 44,626 shares were traded. 
Paramount Trading increased 15 cents in ending at $1.65, with 63,802 stocks crossing the market, Spur Tree Spices lost 16 cents to close at $3.52 in an exchange of 549,279 stock units, Stationery and Office Supplies shed 87 cents in closing at $7 in trading 900 units. Tropical Battery dropped 10 cents in closing at $2.60 after 997,759 shares crossed the exchange and tTech gained 49 cents to close at $4.25 after exchanging 9,241 stocks.
Cargo Handlers declined 35 cents, ending at $12.10 after switching owners of 6,500 stocks, Caribbean Assurance Brokers shed 9 cents to end at $2.31 in an exchange of 214,474 units. Consolidated Bakeries climbed 16 cents to close at $1.41 after exchanging 174,125 stock units, Dolphin Cove popped 90 cents to $22.90 after an exchange of 253,504 shares, Express Catering fell 9 cents in closing at $6 after 356,802 units changed hands. Fontana rallied 9 cents to close at $10 with the swapping of 192,666 stocks, Fosrich advanced $1.98 to end at a 52 weeks’ closing high of $19 after 1,192,228 stock units changed hands, Future Energy Source dropped 13 cents to $6.16 after trading 534,016 units. General Accident rose 17 cents in ending at $6.17, with 15,958 stock units clearing the market, Indies Pharma increased 22 cents in closing at $3.10 in exchanging 97,081 stocks, JFP Limited gained 9 cents to end at $1.39 while exchanging 1,108,073 shares. Lasco Financial lost 7 cents to close at $3.45, with 126,807 shares crossing the market, Limners and Bards popped 12 cents to $3.37 in trading 13,013 stock units, Lumber Depot advanced 15 cents in ending at $3.61 with an exchange of 599,254 units. 
Mailpac Group rallied 12 cents to end at $3.35 after 266,253 stocks changed hands, Paramount Trading declined 22 cents to $1.50 after 21,500 units crossed the market, SSL Venture climbed 19 cents in ending at $1.85 after trading 290,137 shares. Stationery and Office Supplies increased 84 cents in closing at $7.87 in trading 100 stocks and Tropical Battery rose 8 cents to finish at a 52 weeks’ close of $2.70 with an exchange of 815,065 stock units.
Overall, 41 securities traded compared to 42 on Thursday, with 17 rising, 20 declining and four closing unchanged and left the Junior Market Index in decline with a loss of 37.43 points to settle at 4,185.90.
At the close, Access Financial popped 40 cents to end at $20.90, with 93 shares crossing the market, AMG Packaging increased 15 cents to $3.15 in exchanging 501,246 stock units, Blue Power climbed 11 cents to $3.40 with the swapping of 512 units. Cargo Handlers rallied 45 cents to close at a 52 weeks’ high of $12.45 after trading 2,954 stocks, Derrimon Trading dropped 15 cents in closing at $2.53 and trading 334,399 stock units, Dolphin Cove fell $4.69 to $22 while exchanging 690,218 stocks, following the release of full year’s results to December last year. Fontana declined 7 cents in closing at $9.91 after 176,510 units changed hands, Fosrich shed $1.61 in ending at $17.02 after exchanging 88,339 shares and after the price hit an intraday high of $20, Honey Bun lost 23 cents to end at $10.05, with 77,350 shares crossing the exchange. Indies Pharma fell 21 cents to close at $2.88 after 204,763 stock units crossed the market, Iron Rock Insurance gained 40 cents to $3.60 with an exchange of 6,135 stocks, Jamaican Teas shed 8 cents in closing at $3.60 in trading 10,270,448 units. KLE Group advanced 35 cents to close at $2.71after trading 1,031 stock units, Knutsford Express rose 55 cents after ending at $8 in switching ownership of 1,000 units, Lasco Manufacturing popped 15 cents to end at $5.70 in an exchange of 1,046,863 stocks. 
Mailpac Group dropped 34 cents to $3.23, with 203,681 shares clearing the market, Main Event rose 80 cents to close at $8 after an exchange of 15,774 stock units, Paramount Trading increased 14 cents to $1.72 after trading 4,030 shares. Stationery and Office Supplies declined 57 cents in closing at $7.03, with 250 units crossing the market and tTech lost 47 cents to end at $3.75 while exchanging 24,000 stocks following the release of poor 2021 full year results.
Market activity led to 42 securities trading up from 40 on Wednesday with 21 rising, 12 declining and nine closing unchanged.
Thursday’s trading averaged 551,004 shares at $1,992,082 down from 1,843,348 shares at $6,858,214 on Wednesday with month to date, averaging 719,276 units at $2,636,802 compared to 727,308 units at $2,667,573 on the previous trading day. February closed with an average of 370,064 units at $1,402,517.
Knutsford Express lost 55 cents to $7.45 with the swapping of 35,973 units, Lasco Manufacturing climbed 30 cents to end at $5.55 in an exchange of 83,221 stock units, Lumber Depot dropped 11 cents to $3.51 with an exchange of 653,429 shares. Mailpac Group climbed 34 cents to close at $3.57 after exchanging 3,562,628 stocks, Main Event fell 80 cents in ending at $7.20 after 132,274 shares changed hands, Spur Tree Spices dropped 9 cents to $3.70 in switching ownership of 5,983,396 stock units and Stationery and Office Supplies gained 57 cents in closing at $7.60 in exchanging 5,874 units.
At the close, Caribbean Assurance Brokers shed 13 cents to end at $2.35 after trading 64,857 shares, Dolphin Cove lost 60 cents in closing at $26, with 149,124 stock units changing hands, EduFocal rose 47 cents to $3.68 in an exchange of 4,247,474 stocks. Elite Diagnostic rallied 8 cents to close at $3 after exchanging 9,883 units, General Accident increased 11 cents in ending at $6 with an exchange of 8,445 units, Honey Bun climbed 19 cents to end at $9.99, with 8,046 shares changing hands. Iron Rock Insurance dropped 25 cents to close at $3.15, with 7,000 stock units crossing the exchange, Jetcon Corporation gained 12 cents to close at $1.20 in trading 347,325 stocks, JFP Limited advanced 11 cents in closing at $1.26 after trading 3,051,640 stocks. Lasco Financial popped 30 cents to $3.50 in exchanging 1,451,000 units, Lasco Manufacturing fell 35 cents to $5.25 while exchanging 90,711 shares, Lumber Depot gained 13 cents to close at $3.62 after exchanging 532,147 stock units. 
Main Event declined 90 cents to end at $8 with the swapping of 85,126 stocks, Paramount Trading lost 22 cents to end at $1.52, with 24,000 shares clearing the market and Spur Tree Spices popped 9 cents in closing at $3.79 with 57,437,035 units crossing the market.