Three changes to ICTOP10

The past week ended with new entrants to the ICTOP listing, with Dolphin Cove and Paramount Trading reentering the Junior Market list while 138 Student Living enters the TOP10 Main market list.
Jetcon Corporation and Lasco Financial are out of the Junior Market TOP10, and Caribbean Cement left the Main Market list.
The Junior Market suffered some declines, no doubt connected to investors focusing on the latest IPO – OneonOne Educational Services to hit the market, as they seek funds to go into the issue, continuing a feature visible in the market for most popular IPOS. The Main Market moves were less pronounced, with just one significant fall.
In the Junior Market, Elite Diagnostic gained 7 percent to $3.45 and General Accident was up 8 percent to $5.50. Access Financial and CAC 2000 dipped 13 percent to $20.01 and $7.20, respectively and Caribbean Cream and Jetcon Corporation slipped 6 percent to $4.02 and $1.20, respectively. Caribbean Assurance Brokers ended 4 percent lower at $2.50 but has limited stocks offered, with most offers over $2.70.
The Main Market ended the week with Guardian Holdings jumping a sharp 29 percent to $650 on limited volume. There are now less than 1,000 shares offered for sale. At the close, there was an offer of 76 shares at $594 and the highest bid was $505 to buy 2012 shares. Profit for the June Quarter was TT$256 million, up 220 percent from $80 million in 2021, with six months moving up by 70 percent from $256 million to TT$436 million. The EPS comes out at TT$1.88 or J$43. The other big move was by Productive Business Solutions, falling 12 percent to US$1.
The average PE for the JSE Main Market TOP 10 is 6.2, well below the market average of 13.9, while the Junior Market Top 10 PE sits at 5.9 versus the market at 12.8. The Junior Market is projected to rise by 243 percent and the Main Market TOP10 is projected to gain an average of 239 percent each to May 2023.
ICTOP10 focuses on likely yearly winners, accordingly, the list includes some of the best companies in the market but not always. ranks stocks based on projected earnings to highlight winners from the rest, allowing investors to focus on potential winning stocks and helping to remove emotions in selecting stocks for investments that often result in costly mistakes.
IC TOP10 stocks are likely to deliver the best returns up to the end of May 2023 and are ranked in order of potential gains, computed using projected earnings for the current fiscal year. Expected values will change as stock prices fluctuate, resulting 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.

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