We are counting on the success of the shares with a 13 percent profitability

Common Equity Tier 1 (CET1) and leverage ratios continue to comfortably meet regulatory requirements, while higher earnings helped net asset value (NAV) per share increase 11% year-on-year to $14.44.

This NAV per share ultimately supports the value argument, as Standard Chartered shares trade at a 34 percent discount to book value. Effectively, investors receive one dollar of assets at a cost of 63 cents.

In such circumstances, a share buyback program makes perfect sense. It is worth noting that the Asian equivalent of HSBC (HSBA) is trading at just under one times book value, which is a rating almost 50% higher than what investors currently give Standard Chartered.

Questor says: buy
Ticker: STATE
Share price: 686.8p

Update: Kitwave

A mixed half-year performance following the May trading warning has seen Kitwave (KITW:AIM) shares return roughly to where they were at the time of our initial survey, which is a bit frustrating as it looked set to hit new all-time highs in the spring.

However, the food and drink wholesaler still looks like a decent investment at 12 times forward earnings and an estimated dividend yield of 3.6%, so we should wait out this period of indigestion.

Increased investment, higher interest costs following three acquisitions in 2021, 2022 and 2023, and the dampening impact of wet UK weather on the hotel industry all weighed on earnings in the first half of the year. Management is sticking to its full-year guidance to October, but increased ownership in the second half also increases the risk of disappointment.

We are therefore in a state of readiness, but the impact of weather may be temporary. Investments should pay off in terms of operational efficiencies and increased capacity, while acquisitions should complement existing core momentum within the business.

The combination of growth opportunities in a fragmented market, cost savings from a new distribution location and a low valuation all remain attractive long-term for a company that supplies independent grocery stores as well as cafes, restaurants, schools and care homes.

Questor says: hold on
Ticker: KITW
Share price: 309.5p

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