Investors’ top manufacturing stock picks in April

Investors continued to hunt for great investment opportunities in the stock market in April even as the coronavirus outbreak has slowed down economic activity in the country and complicated operating environment for companies.

Here are the two manufacturing stocks that came up as investors’ favourites in April.

East African Breweries stock jumps nearly 16%
East African Breweries (EABL) stock rose 15.55% to Ksh172.75 in April, marking its best month since February 2019.

Investors flocked to EABL stock in April after the beer maker revealed plans to increase its holding in Serengeti Breweries in Tanzania. EABL seeks to purchase an additional 30% stake in Serengeti, which would raise its total stake in the fast-growing Tanzanian beer maker to about 85%.

BOC Kenya stock rises more than 14%
BOC Kenya Plc (BOC) stock gained 14.52% in April to wrap up the month at Ksh71. The company is engaged in the manufacture and sale of industrial and medical gases. It also supplies welding products.

Coronavirus outbreak has boosted demanded for medical gases, especially oxygen that hospital use to aid breathing in patients. People with Covid-19 may experience breathing difficulty.

Therefore, hospitals are stocking up on oxygen right now because they need it to manage Covid-19 patients. That has in turn increased demand for BOC Kenya’s medical gases. Kenya has continued to report new Covid-19 cases.