Pakistan Stock Exchange (PSX) Weekly Analysis 30 November, 2020

BUY recommendations are:  ACPL, APL, BAFL, BOP, EFERT, ENGRO, FATIMA, FFBL, FFC, FML, GATM, HBL, HMB, HUBCO, ICI, INDU, KAPCO, LOTCHEM, LUCK, MCB, MEBL, MLCF, NBP, NCL, NCPL, NML, NPL, OGDC, POL, PPL, PSO, and UBL.

Top gainers of last week were:  TRG, SYS, POL, PSX, and LOTCHEM.

Top losers of last week were: SNGP, GATM, FFBL, IGHL, and FCEPL. 

Top volume leaders of last week were: UNITY, TRG, MLCF, HASCOL, and HUMNL. 

The Pakistan Stock Exchange (PSX) market index bounced back from the bearish spell of the past week as optimism over progress in vaccines rejuvenated investors’ interest. KSE-100 index closed on 40,807 by gaining 620 points or 1.54 %, while KSE-30 index closed on 17,160 by gaining 257 points or 1.52%.

According to experts of http://www.karachistockexchange.com, following news have played vital role in Karachi Stock Market index movement:

  • Monetary policy announcement of interest rates maintained at 7% in scheduled MPC meeting, despite negative real interest rates, resulted in some exuberance among investors
  • Government mulling over measures to contain rising cases of COVID-19, hinting a complete lockdown
  • IMF hinting at government’s need to undertake unpopular measures (electricity and gas rate hikes, targeting higher tax collection, etc) to resume the IMF program further dampened the sentiments
  • A rise in international oil prices on the back of mass availability of vaccines in 2021 brought interest in index heavy weight E&Ps in the remaining trading sessions, where profit taking in the last trading session pared some of the gains
  • Average daily turnover during the week also increased 63.4% WoW to 279.8mn shares
  • Pakistan secures $800m in debt relief from 14 members of the richest club of G-20 countries, as it still awaits ratification by remaining six countries
  • IMF talks focus on renewed tax thrust
  • Covid compels govt to shut educational institutions again
  • IPPs refuse to accept Rs400bn proposed payment in three installments
  • Government hints at increasing power, gas tariff in phases
  • SBP’s forex reserves cross $13bn mark
  • Rupee depreciation also sparked hefty selling by investors
  • The average traded volume in benchmark stood at 172 million shares, while the average value stood at Rs8.32 billion
  • The heavyweight oil & gas exploration companies was one of the highest gainers this week, closing up 6.9% week-on-week, on account of higher international oil prices and news sources citing recommendations of dividend based formula to be used to clear the outstanding circular debt
  • Other sectors that contributed to the rally were technology & communication (+8.0%), vanaspati & allied industries (+7.3%) and automobile parts & accessories (+3.1%)
  • Foreigners remained net sellers during the week amounting to $9.26 million, primarily contributed by corporates amounting to $9.87 million
  • Local investors remained net buyers amounting to $9.26 million, mainly contributed individuals ($2.61 million), companies ($3.38 million) and insurance ($2.91 million)
  • PM rules out shutdown of factories & businesses and banking sector’s spread jumped 8bps month-on-month in October


Following are few BUY recommendations:


Attock Cement Ltd. (ACPL) – BUY 

Current Price: PKR 141.90

Target Price: PKR 180.0


Attock Petroleum (APL) – BUY 

Current Price: PKR 321.36

Target Price: PKR 378.8


Amreli Steels Ltd. (ASTL) – BUY 

Current Price: PKR 40.11

Target Price: PKR 56.00


Bank Al-Falah (BAFL) – BUY 

Current Price: PKR 34.63

Target Price: PKR  51.00


Bank of Punjab (BOP) – BUY 

Current Price: PKR 8.89

Target Price: PKR 13.90


Engro Fertilizer (EFERT) – BUY 

Current Price: PKR 60.82

Target Price: PKR 73.0


ENGRO Corporation (ENGRO) – BUY 

Current Price: PKR 306.78

Target Price: PKR 331.10


Fatima Fertilizer (FATIMA) – BUY 

Current Price: PKR 28.35

Target Price: PKR 35.75


Fauji Fertilizer Bin Qasim (FFBL) – BUY 

Current Price: PKR 20.58

Target Price: PKR 30.0


Fauji Fertilizer Company (FFC) – BUY 

Current Price: PKR 104.12

Target Price: PKR 130.0


Feroze1888 Mills Ltd. (FML) – BUY 

Current Price: PKR 99.21

Target Price: PKR 112.4


Gul Ahmed Textile Mills (GATM) – BUY 

Current Price: PKR 31.77

Target Price: PKR 47.8


Habib Bank Limited (HBL) – BUY 

Current Price: PKR 129.91

Target Price: PKR 154.40


Habib Metropolitan Bank (HMB) – BUY 

Current Price: PKR 36.90

Target Price: PKR 45.70


HUB Power Co. (HUBCO) – BUY 

Current Price: PKR 78.91

Target Price: PKR 101.05


ICI Pakistan Ltd. (ICI) – BUY 

Current Price: PKR 703.02

Target Price: PKR 870.0


Indus Motors (INDU) – BUY 

Current Price: PKR 1,151.34

Target Price: PKR 1,375.00


Kot Addu Power Co. (KAPCO) – BUY 

Current Price: PKR 28.28

Target Price: PKR 46.8


Lotte Chemical Pak Ltd. (LOTCHEM) – BUY 

Current Price: PKR 12.95

Target Price: PKR 14.1


Lucky Cement (LUCKY) – BUY 

Current Price: PKR 648.63

Target Price: PKR 761.30


Muslim Commercial Bank (MCB) – BUY 

Current Price: PKR   174.71

Target Price: PKR 211.00


Meezan Bank Limited (MEBL) – BUY 

Current Price: PKR   93.84

Target Price: PKR 100.00


Maple Leaf Cement (MLCF) – BUY 

Current Price: PKR   39.00

Target Price: PKR 47.40


National Bank of Pakistan (NBP) – BUY 

Current Price: PKR 40.01

Target Price: PKR 45.60


Nishat Chunian Limited (NCL) – BUY 

Current Price: PKR 38.65

Target Price: PKR 47.5


Nishat Chunian Power Limited (NCPL) – BUY 

Current Price: PKR 13.42

Target Price: PKR 27.0


Nishat Mills (NML) – BUY 

Current Price: PKR 90.22

Target Price: PKR 134.8


Nishat Power Limited (NPL) – BUY 

Current Price: PKR 22.75

Target Price: PKR 31.1


Oil & Gas Development Co. (OGDC) – BUY 

Current Price: PKR 99.60

Target Price: PKR 156.9


Pak Elecktron Ltd. (PAEL) – BUY 

Current Price: PKR 32.39

Target Price: PKR 37.37


Pakistan Oil Limited (POL) – BUY 

Current Price: PKR 392.41

Target Price: PKR 563.0


Pakistan Petroleum (PPL) – BUY 

Current Price: PKR 90.15

Target Price: PKR 143.40


Pakistan State Oil (PSO) – BUY 

Current Price: PKR 192.06

Target Price: PKR 214.62


United Bank Limited (UBL) – BUY 

Current Price: PKR 118.67

Target Price: PKR 138.68


Thank you very much for reading this article.


NOTE: The information posted in this blog /forum (http://www.karachistockexchange.com/) is based on current affairs & investors point of view. There may be discrepancy in the ground realities. The information given in this blog /forum (http://www.karachistockexchange.com/) is as of the date of this post and there can be no assurance that future results or events will be consistent with this information. This post is provided for assistance only and is not intended to be and must not alone be taken as the basis for any investment decision. The user assumes the entire risk of any use made of this information. Each viewer of this post should make such investigation as it deems necessary to arrive at an independent evaluation of an investment in the securities of companies referred to in this post (including the merits and risks involved), and should consult his or her own advisors to determine the merits and risks of such investment. This blog /forum (http://www.karachistockexchange.com/)  or any of its affiliates shall not be in any way responsible for any loss or damage that may be arise to any person from any inadvertent error in the information contained in this post.


Written by: Rana Khuram


 

Pakistan Stock Exchange (PSX) Weekly Analysis 9 November, 2020

BUY recommendations are:  ACPL, APL, BAFL, BOP, EFERT, ENGRO, FATIMA, FFBL, FFC, FML, GATM, HBL, HMB, HUBCO, ICI, INDU, KAPCO, LOTCHEM, LUCK, MCB, MEBL, NBP, NCL, NCPL, NML, NPL, OGDC, POL, PPL, and UBL.


Top gainers of last week were: POL, TRG, MEBL, BAFL, LOTCHEM, FFBL, and HMB.


Top losers of last week were: HBL, FFC, PTC, MUREB, APL, ANL, PAKT, GATI, and APL. 


Top volume leaders of last week were: UNITY, HASCOL, POWER, PRL, and TRG. 


The Pakistan Stock Exchange (PSX) market index recovered in the outgoing week with the bulls chasing bears out of the market. KSE-100 index closed on 40,732 by gaining 844 points or 2.11 %, while KSE-30 index closed on 17,082 by gaining 332 points or 1.98%.


According to experts of http://www.karachistockexchange.com, following news have played vital role in Karachi Stock Market index movement:


  • Trading kicked off on a negative note on Monday as fears over outcome of the second wave of the Covid pandemic dented sentiments and uncertainty stemming from the US presidential elections
  • Expectations of another round of restrictions and lockdowns kept investors wary
  • The Consumer Price Index (CPI) clocked-in at 8.91% for October 2020, which was far below market expectations
  • Recovery in international equity markets and global oil prices also helped snap a four-session losing streak
  • Monthly cement sales touched a record high in October 2020 as mills dispatched 5.735 million tons to consumers
  • While the sales of petroleum oil products in Pakistan hit two-year high level of 1.7 million tons in October
  • The government’s efforts to resolve the circular debt issue - which has soared past Rs2,300 billion - also helped the index remain in the green zone
  • Participation crawled down as average volumes arrived at 368 million shares (down 21% week-on-week) while average value traded settled at $79 million (down 20% week-on-week)
  • Positive contributions came from commercial banks (203 points), oil and gas exploration companies (149 points), technology and communication (97 points), cement (74 points), and fertiliser (57 points)
  • Foreign selling continued this week clocking-in at $21.34 million compared to a net sell of $5.5 million last week
  • On the domestic front, major buying was reported by individuals ($5.37 million) and insurance companies ($3.63 million)
  • Government reduced prices of petrol, diesel by up to Rs1.57
  • World Bank projected 9% growth in remittances
  • Supreme Court dismissed petitions of GIDC judgment
  • ADB planned to give Pakistan $10 billion in fresh aid to Pakistan


Following are few BUY recommendations:


Attock Cement Ltd. (ACPL) – BUY 

Current Price: PKR 148.16

Target Price: PKR 180.0


Attock Petroleum (APL) – BUY 

Current Price: PKR 315.17

Target Price: PKR 378.8


Amreli Steels Ltd. (ASTL) – BUY 

Current Price: PKR 42.49

Target Price: PKR 56.00


Bank Al-Falah (BAFL) – BUY 

Current Price: PKR 35.26

Target Price: PKR  51.00


Bank of Punjab (BOP) – BUY 

Current Price: PKR 9.07

Target Price: PKR 13.90


Engro Fertilizer (EFERT) – BUY 

Current Price: PKR 65.62

Target Price: PKR 73.0


ENGRO Corporation (ENGRO) – BUY 

Current Price: PKR 304.78

Target Price: PKR 331.10


Fatima Fertilizer (FATIMA) – BUY 

Current Price: PKR 27.65

Target Price: PKR 35.75


Fauji Fertilizer Bin Qasim (FFBL) – BUY 

Current Price: PKR 25.80

Target Price: PKR 30.0


Fauji Fertilizer Company (FFC) – BUY 

Current Price: PKR 104.75

Target Price: PKR 130.0


Feroze1888 Mills Ltd. (FML) – BUY 

Current Price: PKR 105.20

Target Price: PKR 112.4


Gul Ahmed Textile Mills (GATM) – BUY 

Current Price: PKR 34.02

Target Price: PKR 47.8


Habib Bank Limited (HBL) – BUY 

Current Price: PKR 127.83

Target Price: PKR 154.40


Habib Metropolitan Bank (HMB) – BUY 

Current Price: PKR 37.55

Target Price: PKR 45.70


HUB Power Co. (HUBCO) – BUY 

Current Price: PKR 81.66

Target Price: PKR 101.05


ICI Pakistan Ltd. (ICI) – BUY 

Current Price: PKR 679.69

Target Price: PKR 870.0


Indus Motors (INDU) – BUY 

Current Price: PKR 1,220.05

Target Price: PKR 1,375.00


Kot Addu Power Co. (KAPCO) – BUY 

Current Price: PKR 52.80

Target Price: PKR 46.8


Lotte Chemical Pak Ltd. (LOTCHEM) – BUY 

Current Price: PKR 12.83

Target Price: PKR 14.1


Lucky Cement (LUCKY) – BUY 

Current Price: PKR 682.86

Target Price: PKR 761.30


Muslim Commercial Bank (MCB) – BUY 

Current Price: PKR   168.32

Target Price: PKR 211.00


Meezan Bank Limited (MEBL) – BUY 

Current Price: PKR   94.77

Target Price: PKR 100.00


National Bank of Pakistan (NBP) – BUY 

Current Price: PKR 40.45

Target Price: PKR 45.60


Nishat Chunian Limited (NCL) – BUY 

Current Price: PKR 38.02

Target Price: PKR 47.5


Nishat Chunian Power Limited (NCPL) – BUY 

Current Price: PKR 13.42

Target Price: PKR 27.0


Nishat Mills (NML) – BUY 

Current Price: PKR 89.68

Target Price: PKR 134.8


Nishat Power Limited (NPL) – BUY 

Current Price: PKR 22.00

Target Price: PKR 31.1


Oil & Gas Development Co. (OGDC) – BUY 

Current Price: PKR 94.53

Target Price: PKR 156.9


Pakistan Oil Limited (POL) – BUY 

Current Price: PKR 349.17

Target Price: PKR 563.0


Pakistan Petroleum (PPL) – BUY 

Current Price: PKR 84.87

Target Price: PKR 143.40


United Bank Limited (UBL) – BUY 

Current Price: PKR 111.56

Target Price: PKR 138.68


Thank you very much for reading this article.


NOTE: The information posted in this blog /forum (http://www.karachistockexchange.com/) is based on current affairs & investors point of view. There may be discrepancy in the ground realities. The information given in this blog /forum (http://www.karachistockexchange.com/) is as of the date of this post and there can be no assurance that future results or events will be consistent with this information. This post is provided for assistance only and is not intended to be and must not alone be taken as the basis for any investment decision. The user assumes the entire risk of any use made of this information. Each viewer of this post should make such investigation as it deems necessary to arrive at an independent evaluation of an investment in the securities of companies referred to in this post (including the merits and risks involved), and should consult his or her own advisors to determine the merits and risks of such investment. This blog /forum (http://www.karachistockexchange.com/)  or any of its affiliates shall not be in any way responsible for any loss or damage that may be arise to any person from any inadvertent error in the information contained in this post.


Written by: Rana Khuram

Pakistan Stock Exchange (PSX) Weekly Analysis 2 November, 2020

BUY recommendations are:  ACPL, APL, BAFL, BOP, EFERT, ENGRO, FATIMA, FFBL, FFC, FML, GATM, HBL, HMB, HUBCO, ICI, KAPCO, LOTCHEM, LUCK, MCB, MEBL, NBP, NCL, NCPL, NML, NPL, OGDC, POL, PPL, and UBL.


Top losers of last week were: HBL, UBL, POL, ENGRO, and OGDC.


The Pakistan Stock Exchange (PSX) market index took a beating in the outgoing week as the surging coronavirus cases triggered a sell-off. KSE-100 index closed on 39,888 by losing 1,378 points or 3.3 %. 


According to experts of http://www.karachistockexchange.com, following news have played vital role in Karachi Stock Market index movement:


  • The heightening regional political tensions and uncertainty in global financial markets greatly hampered progress
  • Investors were spooked by the arrival of second wave of Covid-19 that was feared to lead to more lock downs that would cast a blow on the economy and the markets
  • Turmoil in global equity markets in the wake of panic selling by investors due to the mounting Covid-19 cases and uncertainty over the impending US presidential elections also sent shockwaves to the domestic bourse
  • Decline in oil prices also exerted pressure on E&P stocks
  • Thursday, which marked the last trading day of the week, witnessed a bloodbath as the KSE-100 index plummeted nearly 1,300 points after government officials expressed concerns over the rising trajectory of corona cases and announced restrictions in an effort to curb it
  • Negative contributions came from commercial banks (499 points), oil and gas exploration companies (247 points), fertiliser (145 points), textile composite (131 points), and oil and gas marketing companies (103 points)
  • Foreign selling continued this week clocking-in at $21.3 million compared to a net sell of $6.9 million last week. Selling was witnessed in cements ($7.6 million) and commercial banks ($4.9 million)
  • On the domestic front, major buying was reported by insurance companies ($7.8 million) and individuals ($6.4 million)
  • Participation inched up as average volumes arrived at 470 million shares (up 1% week-on-week) while average value traded settled at $117 million (up 20% week-on-week)
  • Moody’s assigned first-time B3 rating to Wapda
  • Oil and Gas Regulatory Authority notified increase in gas prices and hike in prices of 94 drugs was notified
  • Pakistan's Forex Reserves decreased by USD 5.10 Million or 0.03% and the total liquid foreign reserves held by the country stood at USD 19,296.50 Million on Oct 23, 2020
  • The Government has decided to reduce the price of various petroleum products from Nov 01, 2020. According to the Ministry of Finance, the price of Petrol has been reduced by Rs.1.57 per liter while the price of high-speed diesel has been cut by Rs0.84 per liter
  • Pakistan has received $2.734 billion foreign aid during 1QFY21 from bilateral and multilateral development partners, foreign commercial borrowing, and time deposits to restructure its economy and finance its development projects
  • In order to facilitate the Telecom sector by the waiver of certain taxes, the Economic Coordination Committee (ECC) decided that the proposal may be granted approval in Principle


Following are few BUY recommendations:


Attock Cement Ltd. (ACPL) – BUY 

Current Price: PKR 147.96

Target Price: PKR 180.0


Attock Petroleum (APL) – BUY 

Current Price: PKR 325.49

Target Price: PKR 378.8


Amreli Steels Ltd. (ASTL) – BUY 

Current Price: PKR 40.23

Target Price: PKR 56.00


Bank Al-Falah (BAFL) – BUY 

Current Price: PKR 33.07

Target Price: PKR  51.00


Bank of Punjab (BOP) – BUY 

Current Price: PKR 8.76

Target Price: PKR 13.90


Engro Fertilizer (EFERT) – BUY 

Current Price: PKR 64.38

Target Price: PKR 73.0


ENGRO Corporation (ENGRO) – BUY 

Current Price: PKR 304.12

Target Price: PKR 331.10


Fatima Fertilizer (FATIMA) – BUY 

Current Price: PKR 27.80

Target Price: PKR 35.75


Fauji Fertilizer Bin Qasim (FFBL) – BUY 

Current Price: PKR 23.27

Target Price: PKR 30.0


Fauji Fertilizer Company (FFC) – BUY 

Current Price: PKR 105.64

Target Price: PKR 130.0


Feroze1888 Mills Ltd. (FML) – BUY 

Current Price: PKR 97.38

Target Price: PKR 112.4


Gul Ahmed Textile Mills (GATM) – BUY 

Current Price: PKR 34.10

Target Price: PKR 47.8


Habib Bank Limited (HBL) – BUY 

Current Price: PKR 130.11

Target Price: PKR 154.40


Habib Metropolitan Bank (HMB) – BUY 

Current Price: PKR 34.49

Target Price: PKR 45.70


HUB Power Co. (HUBCO) – BUY 

Current Price: PKR 81.76

Target Price: PKR 101.05


ICI Pakistan Ltd. (ICI) – BUY 

Current Price: PKR 697.66

Target Price: PKR 870.0


Kot Addu Power Co. (KAPCO) – BUY 

Current Price: PKR 28.14

Target Price: PKR 46.8


Lotte Chemical Pak Ltd. (LOTCHEM) – BUY 

Current Price: PKR 11.25

Target Price: PKR 14.1


Lucky Cement (LUCKY) – BUY 

Current Price: PKR 672.98

Target Price: PKR 761.30


Muslim Commercial Bank (MCB) – BUY 

Current Price: PKR   166.22

Target Price: PKR 211.00


Meezan Bank Limited (MEBL) – BUY 

Current Price: PKR   87.17

Target Price: PKR 100.00


National Bank of Pakistan (NBP) – BUY 

Current Price: PKR 38.96

Target Price: PKR 45.60


Nishat Chunian Limited (NCL) – BUY 

Current Price: PKR 36.16

Target Price: PKR 47.5


Nishat Chunian Power Limited (NCPL) – BUY 

Current Price: PKR 13.33

Target Price: PKR 27.0


Nishat Mills (NML) – BUY 

Current Price: PKR 84.69

Target Price: PKR 134.8


Nishat Power Limited (NPL) – BUY 

Current Price: PKR 22.55

Target Price: PKR 31.1


Oil & Gas Development Co. (OGDC) – BUY 

Current Price: PKR 93.43

Target Price: PKR 156.9


Pakistan Oil Limited (POL) – BUY 

Current Price: PKR 318.57

Target Price: PKR 563.0


Pakistan Petroleum (PPL) – BUY 

Current Price: PKR 82.85

Target Price: PKR 143.40


United Bank Limited (UBL) – BUY 

Current Price: PKR 109.63

Target Price: PKR 138.68


Thank you very much for reading this article.


NOTE: The information posted in this blog /forum (http://www.karachistockexchange.com/) is based on current affairs & investors point of view. There may be discrepancy in the ground realities. The information given in this blog /forum (http://www.karachistockexchange.com/) is as of the date of this post and there can be no assurance that future results or events will be consistent with this information. This post is provided for assistance only and is not intended to be and must not alone be taken as the basis for any investment decision. The user assumes the entire risk of any use made of this information. Each viewer of this post should make such investigation as it deems necessary to arrive at an independent evaluation of an investment in the securities of companies referred to in this post (including the merits and risks involved), and should consult his or her own advisors to determine the merits and risks of such investment. This blog /forum (http://www.karachistockexchange.com/)  or any of its affiliates shall not be in any way responsible for any loss or damage that may be arise to any person from any inadvertent error in the information contained in this post.


Written by: Rana Khuram

Pakistan Stock Exchange (PSX) Weekly Analysis 26 October, 2020

BUY recommendations are:  ACPL, APL, BAFL, BOP, EFERT, ENGRO, FATIMA, FFBL, FFC, FML, GATM, HBL, HMB, HUBCO, ICI, KAPCO, LOTCHEM, LUCK, MCB, MEBL, NBP, NCL, NCPL, NML, NPL, OGDC, POL, PPL, and UBL.


Volume leaders of last week were: UNITY, PIBTL, HASCOL, MLCF, PRL, and FFL. 


Top gainers of last week were: UNITY, ATRL, CHCC, MLCF, ENGRO, BAHL, LUCK, EFERT, MEBL, BAHL, HUBC and HCAR.


Top losers of last week were: GATU, PPL, ABOT, EPCL, NML, and OGDC. 


The Pakistan Stock Exchange (PSX) market index the week began as well as ended on a positive note on account of improving external situation and PKR stability, which smoothened cost pressures for import reliant sectors. KSE-100 index closed on 41,266 by gaining 1102 points or 2.74 %. While KSE-30 index closed on 17,381 by gaining 446 points or 2.64%. 


According to experts of http://www.karachistockexchange.com, following news have played vital role in Karachi Stock Market index movement:


  • The FATF decided to keep the country on grey list until February 2021 as the watchdog found that Pakistan had successfully complied with 21 out of 27 points of action
  • Long consumer cyclicals (Cements, Autos, Edible Oils) as an improving external situation and PkR stability eases cost pressures for import reliant sectors
  • Earnings outperformance for the latest reported period (4QFY21/3QCY20) for Banks and Fertilizers, where resumption of payouts for Banks was a notable catalyst
  • Pakistan posted US$73mn current account surplus in Sept’20 compared to US$211mn in Aug’20, where on a cumulative 1QFY21 basis current account surplus of U$792m was achieved against a deficit of $1.5 billion recorded in 1QFY20
  • The ECC approved supply of RLNG till the end of Nov’20, ensuring the supply of RLNG to fulfill the requirements of two fertilizer plants namely Agritech and Fatima Fertilizer
  • Drug Regulatory Authority of Pakistan (DRAP) has fixed the maximum retail prices (MPR) of 253 drugs on the basis of its packing sizes with certain other conditions
  • Govt. has agreed to give tax concessions to Pakistan’s big retailers in return for their commitment to documenting their businesses
  • Major companies reporting earnings over the coming week include NBP, PSO, FFBL, MCB and PAEL, amongst others, likely to keep volumes buoyant
  • The ECC approved supply of RLNG till the end of November 2020
  • Figures released by NCCPL showed that foreign investors sold USD 6.87 million worth of stocks during the week with foreign corporates doing the bulk of selling @ USD 9.61 million
  • On the local front, Mutual Funds purchased USD 7.61 million worth of stocks, followed by USD 4.7 million worth of stocks bought by companies
  • Other significant transactions included USD 7.7 million worth of stocks sold by Banks/DFIs
  • Despite stable oil prices in the international market, bears dominated the oil sector due to the ongoing corporate result announcements
  • Sectors contributing to the performance included cement (+92 points), insurance (+20 points), fertiliser (+13 points), banks (-31 points), exploration and production (-18 points) and power (-11 points)
  • Among major result announcements were Maple Leaf Cement (+3.5%) and DG Khan Cement (+1.4%)
  • Maple Leaf Cement recorded earnings per share (EPS) of Rs0.51 for Jul-Sept 2020 compared to loss per share of Rs1.41 in the corresponding quarter of last year, which was above market expectations
  • DG Khan Cement reported consolidated 1QFY21 loss per share of Rs0.67 versus loss per share of Rs3.30 in the same period of last year
  • Trading volumes fell to 354.4 million shares compared with Thursday’s tally of 500.1 million. The value of shares traded during the day was Rs15.6 billion
  • The share issue of Agha Steel Industries consisted of 120 million ordinary shares or 20.83% of the total post-IPO paid-up capital of the company


Following are few BUY recommendations:


Attock Cement Ltd. (ACPL) – BUY 

Current Price: PKR 162.04

Target Price: PKR 180.0


Attock Petroleum (APL) – BUY 

Current Price: PKR 342.07

Target Price: PKR 378.8


Amreli Steels Ltd. (ASTL) – BUY 

Current Price: PKR 43.52

Target Price: PKR 56.00


Bank Al-Falah (BAFL) – BUY 

Current Price: PKR 33.27

Target Price: PKR  51.00


Bank of Punjab (BOP) – BUY 

Current Price: PKR 9.36

Target Price: PKR 13.90


Engro Fertilizer (EFERT) – BUY 

Current Price: PKR 65.86

Target Price: PKR 73.0


ENGRO Corporation (ENGRO) – BUY 

Current Price: PKR 318.34

Target Price: PKR 331.10


Fatima Fertilizer (FATIMA) – BUY 

Current Price: PKR 30.25

Target Price: PKR 35.75


Fauji Fertilizer Bin Qasim (FFBL) – BUY 

Current Price: PKR 21.00

Target Price: PKR 30.0


Fauji Fertilizer Company (FFC) – BUY 

Current Price: PKR 108.04

Target Price: PKR 130.0


Feroze1888 Mills Ltd. (FML) – BUY 

Current Price: PKR 107.00

Target Price: PKR 112.4


Gul Ahmed Textile Mills (GATM) – BUY 

Current Price: PKR 38.18

Target Price: PKR 47.8


Habib Bank Limited (HBL) – BUY 

Current Price: PKR 138.78

Target Price: PKR 154.40


Habib Metropolitan Bank (HMB) – BUY 

Current Price: PKR 36.53

Target Price: PKR 45.70


HUB Power Co. (HUBCO) – BUY 

Current Price: PKR 77.04

Target Price: PKR 101.05


ICI Pakistan Ltd. (ICI) – BUY 

Current Price: PKR 706.20

Target Price: PKR 870.0


Kot Addu Power Co. (KAPCO) – BUY 

Current Price: PKR 28.68

Target Price: PKR 46.8


Lotte Chemical Pak Ltd. (LOTCHEM) – BUY 

Current Price: PKR 12.29

Target Price: PKR 14.1


Lucky Cement (LUCKY) – BUY 

Current Price: PKR 660.94

Target Price: PKR 761.30


Muslim Commercial Bank (MCB) – BUY 

Current Price: PKR   170.27

Target Price: PKR 211.00


Meezan Bank Limited (MEBL) – BUY 

Current Price: PKR   91.05

Target Price: PKR 100.00


National Bank of Pakistan (NBP) – BUY 

Current Price: PKR 41.22

Target Price: PKR 45.60


Nishat Chunian Limited (NCL) – BUY 

Current Price: PKR 37.60

Target Price: PKR 47.5


Nishat Chunian Power Limited (NCPL) – BUY 

Current Price: PKR 14.20

Target Price: PKR 27.0


Nishat Mills (NML) – BUY 

Current Price: PKR 97.56

Target Price: PKR 134.8


Nishat Power Limited (NPL) – BUY 

Current Price: PKR 23.20

Target Price: PKR 31.1


Oil & Gas Development Co. (OGDC) – BUY 

Current Price: PKR 97.55

Target Price: PKR 156.9


Pakistan Oil Limited (POL) – BUY 

Current Price: PKR 356.26

Target Price: PKR 563.0


Pakistan Petroleum (PPL) – BUY 

Current Price: PKR 85.51

Target Price: PKR 143.40


United Bank Limited (UBL) – BUY 

Current Price: PKR 121.76

Target Price: PKR 138.68


Thank you very much for reading this article.


NOTE: The information posted in this blog /forum (http://www.karachistockexchange.com/) is based on current affairs & investors point of view. There may be discrepancy in the ground realities. The information given in this blog /forum (http://www.karachistockexchange.com/) is as of the date of this post and there can be no assurance that future results or events will be consistent with this information. This post is provided for assistance only and is not intended to be and must not alone be taken as the basis for any investment decision. The user assumes the entire risk of any use made of this information. Each viewer of this post should make such investigation as it deems necessary to arrive at an independent evaluation of an investment in the securities of companies referred to in this post (including the merits and risks involved), and should consult his or her own advisors to determine the merits and risks of such investment. This blog /forum (http://www.karachistockexchange.com/)  or any of its affiliates shall not be in any way responsible for any loss or damage that may be arise to any person from any inadvertent error in the information contained in this post.


Written by: Rana Khuram

Pakistan Stock Exchange (PSX) Weekly Analysis 19 October, 2020

BUY recommendations are:  ACPL, APL, BAFL, BOP, EFERT, ENGRO, FATIMA, FFBL, FFC, FML, GATM, HBL, HMB, HUBCO, ICI, KAPCO, LOTCHEM, LUCK, MCB, MEBL, NBP, NCL, NCPL, NML, NPL, OGDC, POL, PPL, and UBL.

Top losers of last week were: HUBC, PPL, OGDC, POL and MCB. 

The Pakistan Stock Exchange (PSX) market index Bears regained control of the Pakistan stock market in the outgoing week as looming uncertainty on the political front coupled with rising cases of Covid-19 across the country drove the index back into the negative territory. KSE-100 index closed on 40,164 by gaining 634 points or 1.6 %. 


According to experts of http://www.karachistockexchange.com, following news have played vital role in Karachi Stock Market index movement:


  • Political noise and uptick in Covid-19 cases in the country wiped off most of last week’s gains made at the local bourse this week
  • Trading remained under pressure on back of concerns over rising inflationary levels, news flows citing hurdles over continuation of the International Monetary Fund (IMF) Programme, and aggression from the opposition
  • A sharp rise in the coronavirus cases also sparked fears of another lockdown, which did not bode well with the participants and prompted them to divest their stakes
  • The forthcoming Financial Action Task Force (FATF) meeting, scheduled to take place late in October, continued to weigh on investors’ mind
  • Encouraging remittances figures, which depicted inflows staying above $2 billion for the fourth successive month in September 2020, failed to entice market participants to take positive positions in the market
  • The rising political noise also deterred the market from posting gains
  • The Pakistani rupee also staged a modest recovery during the week and closed at a five-month high level of 162.49 against a dollar, which triggered an uptrend in the stock market
  • Average daily volumes clocked-in at 296 million shares (down 29% week-on-week) while average value traded settled at $61 million (up 24% week-on-week)
  • Negative contributions came from oil and gas exploration companies (212 points), cement (116 points), power generation and distribution (60 points), oil and gas marketing companies (56 points), and technology and communication (51 points)
  • Positive contributions were led chemical (16 points) and commercial banks (10 points)
  • World Bank to provide $1.15 billion concessional financing for two power projects in K-P
  • State Bank of Pakistan’s forex reserves fell by over $1 billion in the last four weeks on debt servicing, reaching $11.8 billion
  • IMF forecast 1% growth in FY21 for Pakistan
  • Remittances increased 31% year-on-year in September 2020
  • Auto sales grew 18% year-on-year in September 2020
  • The only silver lining was the start of the corporate results season with financial sector turning out to the harbinger of good news with a couple of banks and investment companies coming up with splendid financial figures
  • Disappointing result from HASCOL (one of the market’s consistent volume leading scrips) middle of the week
  • Economic Coordination Committee (ECC) has approved the import of 340,000 metric tonne wheat

Following are few BUY recommendations:


Attock Cement Ltd. (ACPL) – BUY 

Current Price: PKR 154.81

Target Price: PKR 180.0


Attock Petroleum (APL) – BUY 

Current Price: PKR 344.98

Target Price: PKR 378.8


Amreli Steels Ltd. (ASTL) – BUY 

Current Price: PKR 40.17

Target Price: PKR 56.00


Bank Al-Falah (BAFL) – BUY 

Current Price: PKR 33.80

Target Price: PKR  51.00


Bank of Punjab (BOP) – BUY 

Current Price: PKR 9.24

Target Price: PKR 13.90


Engro Fertilizer (EFERT) – BUY 

Current Price: PKR 61.52

Target Price: PKR 73.0


ENGRO Corporation (ENGRO) – BUY 

Current Price: PKR 296.38

Target Price: PKR 331.10


Fatima Fertilizer (FATIMA) – BUY 

Current Price: PKR 30.77

Target Price: PKR 35.75


Fauji Fertilizer Bin Qasim (FFBL) – BUY 

Current Price: PKR 21.52

Target Price: PKR 30.0


Fauji Fertilizer Company (FFC) – BUY 

Current Price: PKR 106.00

Target Price: PKR 130.0


Feroze1888 Mills Ltd. (FML) – BUY 

Current Price: PKR 105.00

Target Price: PKR 112.4


Gul Ahmed Textile Mills (GATM) – BUY 

Current Price: PKR 37.54

Target Price: PKR 47.8


Habib Bank Limited (HBL) – BUY 

Current Price: PKR 138.61

Target Price: PKR 154.40


Habib Metropolitan Bank (HMB) – BUY 

Current Price: PKR 33.39

Target Price: PKR 45.70


HUB Power Co. (HUBCO) – BUY 

Current Price: PKR 76.11

Target Price: PKR 101.05


ICI Pakistan Ltd. (ICI) – BUY 

Current Price: PKR 693.77

Target Price: PKR 870.0


Kot Addu Power Co. (KAPCO) – BUY 

Current Price: PKR 27.55

Target Price: PKR 46.8


Lotte Chemical Pak Ltd. (LOTCHEM) – BUY 

Current Price: PKR 12.32

Target Price: PKR 14.1


Lucky Cement (LUCKY) – BUY 

Current Price: PKR 638.46

Target Price: PKR 761.30


Muslim Commercial Bank (MCB) – BUY 

Current Price: PKR   171.28

Target Price: PKR 211.00


Meezan Bank Limited (MEBL) – BUY 

Current Price: PKR   83.81

Target Price: PKR 100.00


National Bank of Pakistan (NBP) – BUY 

Current Price: PKR 38.63

Target Price: PKR 45.60


Nishat Chunian Limited (NCL) – BUY 

Current Price: PKR 38.33

Target Price: PKR 47.5


Nishat Chunian Power Limited (NCPL) – BUY 

Current Price: PKR 13.99

Target Price: PKR 27.0


Nishat Mills (NML) – BUY 

Current Price: PKR 102.81

Target Price: PKR 134.8


Nishat Power Limited (NPL) – BUY 

Current Price: PKR 23.40

Target Price: PKR 31.1


Oil & Gas Development Co. (OGDC) – BUY 

Current Price: PKR 101.20

Target Price: PKR 156.9


Pakistan Oil Limited (POL) – BUY 

Current Price: PKR 364.97

Target Price: PKR 563.0


Pakistan Petroleum (PPL) – BUY 

Current Price: PKR 85.03

Target Price: PKR 143.40


United Bank Limited (UBL) – BUY 

Current Price: PKR 122.70

Target Price: PKR 138.68


Thank you very much for reading this article.


NOTE: The information posted in this blog /forum (http://www.karachistockexchange.com/) is based on current affairs & investors point of view. There may be discrepancy in the ground realities. The information given in this blog /forum (http://www.karachistockexchange.com/) is as of the date of this post and there can be no assurance that future results or events will be consistent with this information. This post is provided for assistance only and is not intended to be and must not alone be taken as the basis for any investment decision. The user assumes the entire risk of any use made of this information. Each viewer of this post should make such investigation as it deems necessary to arrive at an independent evaluation of an investment in the securities of companies referred to in this post (including the merits and risks involved), and should consult his or her own advisors to determine the merits and risks of such investment. This blog /forum (http://www.karachistockexchange.com/)  or any of its affiliates shall not be in any way responsible for any loss or damage that may be arise to any person from any inadvertent error in the information contained in this post.


Written by: Rana Khuram

Pakistan Stock Exchange (PSX) Weekly Analysis 12 October, 2020

BUY recommendations are:  ACPL, APL, BAFL, BOP, EFERT, ENGRO, FATIMA, FFBL, FFC, FML, GATM, HBL, HMB, HUBCO, ICI, KAPCO, LOTCHEM, LUCK, MCB, MEBL, NBP, NCL, NCPL, NML, NPL, OGDC, POL, PPL, and UBL.


Top gainers of last week were: HBL, UBL, PSO, LUCK, HUBCO, UNITY, KOHC, ILP, KTML, PAEL, OGDC, PPL, and TRG.


Top losers of last week were: PTC, HASCOL, KEL, NATF, SERT, AGIL, COLG, NESTLE, and ABBOT.


Top volume leaders of last week were: HASCOL, UNITY, TRG, MLCF, and POWER.


The Pakistan Stock Exchange (PSX) market index Bulls staged a comeback at the stock market in the outgoing week. KSE-100 index closed on 40,798 by gaining 727 points or 1.82 %, while KSE-30 closed at 17,279 by gaining 300 points or 1.77%. 


According to experts of http://www.karachistockexchange.com, following news have played vital role in Karachi Stock Market index movement:


  • Positive market activity was fuelled by a bullish spell in the global equity markets coupled with rising international oil prices
  • Banking, exploration and production and power were the main sectors that remained in the green
  • Sectors contributing to the performance included banks (+136 points), exploration and production (+88 points), power (+44 points), textile (+35 points) and auto (+35 points)
  • Traded value decreased to $73 million, down 24% and volumes came in at 359 million shares, down 25% compared to the previous trading session
  • Foreign institutional investors were net buyers of Rs67.4 million worth of shares during the trading session
  • The cement industry came up with all-time high cement dispatch numbers of 5. 21 million tonnes for September
  • Although the Coronavirus daily monitors have continued to remain at the edge of their seats, the infection ratio continues to remain low
  • The Roosevelt Hotel, owned by Pakistan International Airlines (PIA) in New York, on Friday, announced a permanent closure by the end of this month after suffering financial losses.
  • The National Electric Power Regulatory Authority (NEPRA) increased Rs. 0.83 per unit in the power tariff on Thursday
  • The Board of Directors of Loads Limited decided to invest PKR 3 billion in Hi-Tech Alloy Wheels Ltd
  • Government allowing Ministry of Finance to launch three international bonds to build up foreign currency reserves
  • Pakistan's trade deficit widening by 19.49%YoY to US$2.4bn for Sep'20

Following are few BUY recommendations:


Attock Cement Ltd. (ACPL) – BUY 

Current Price: PKR 164.62

Target Price: PKR 180.0


Attock Petroleum (APL) – BUY 

Current Price: PKR 345.06

Target Price: PKR 378.8


Amreli Steels Ltd. (ASTL) – BUY 

Current Price: PKR 42.59

Target Price: PKR 56.00


Bank Al-Falah (BAFL) – BUY 

Current Price: PKR 34.97

Target Price: PKR  51.00


Bank of Punjab (BOP) – BUY 

Current Price: PKR 9.25

Target Price: PKR 13.90


Engro Fertilizer (EFERT) – BUY 

Current Price: PKR 61.27

Target Price: PKR 73.0


ENGRO Corporation (ENGRO) – BUY 

Current Price: PKR 300.74

Target Price: PKR 331.10


Fatima Fertilizer (FATIMA) – BUY 

Current Price: PKR 28.74

Target Price: PKR 35.75


Fauji Fertilizer Bin Qasim (FFBL) – BUY 

Current Price: PKR 18.67

Target Price: PKR 30.0


Fauji Fertilizer Company (FFC) – BUY 

Current Price: PKR 107.39

Target Price: PKR 130.0


Feroze1888 Mills Ltd. (FML) – BUY 

Current Price: PKR 105.08

Target Price: PKR 112.4


Gul Ahmed Textile Mills (GATM) – BUY 

Current Price: PKR 38.57

Target Price: PKR 47.8


Habib Bank Limited (HBL) – BUY 

Current Price: PKR 136.00

Target Price: PKR 154.40


Habib Metropolitan Bank (HMB) – BUY 

Current Price: PKR 33.00

Target Price: PKR 45.70


HUB Power Co. (HUBCO) – BUY 

Current Price: PKR 79.25

Target Price: PKR 101.05


ICI Pakistan Ltd. (ICI) – BUY 

Current Price: PKR 709.63

Target Price: PKR 870.0


Kot Addu Power Co. (KAPCO) – BUY 

Current Price: PKR 27.15

Target Price: PKR 46.8


Lotte Chemical Pak Ltd. (LOTCHEM) – BUY 

Current Price: PKR 11.90

Target Price: PKR 14.1


Lucky Cement (LUCKY) – BUY 

Current Price: PKR 654.95

Target Price: PKR 761.30


Muslim Commercial Bank (MCB) – BUY 

Current Price: PKR   176.45

Target Price: PKR 211.00


Meezan Bank Limited (MEBL) – BUY 

Current Price: PKR   81.90

Target Price: PKR 100.00


National Bank of Pakistan (NBP) – BUY 

Current Price: PKR 38.67

Target Price: PKR 45.60


Nishat Chunian Limited (NCL) – BUY 

Current Price: PKR 38.91

Target Price: PKR 47.5


Nishat Chunian Power Limited (NCPL) – BUY 

Current Price: PKR 13.50

Target Price: PKR 27.0


Nishat Mills (NML) – BUY 

Current Price: PKR 102.36

Target Price: PKR 134.8


Nishat Power Limited (NPL) – BUY 

Current Price: PKR 23.00

Target Price: PKR 31.1


Oil & Gas Development Co. (OGDC) – BUY 

Current Price: PKR 105.50

Target Price: PKR 156.9


Pakistan Oil Limited (POL) – BUY 

Current Price: PKR 384.98

Target Price: PKR 563.0


Pakistan Petroleum (PPL) – BUY 

Current Price: PKR 90.55

Target Price: PKR 143.40


United Bank Limited (UBL) – BUY 

Current Price: PKR 122.88

Target Price: PKR 138.68


Thank you very much for reading this article.


NOTE: The information posted in this blog /forum (http://www.karachistockexchange.com/) is based on current affairs & investors point of view. There may be discrepancy in the ground realities. The information given in this blog /forum (http://www.karachistockexchange.com/) is as of the date of this post and there can be no assurance that future results or events will be consistent with this information. This post is provided for assistance only and is not intended to be and must not alone be taken as the basis for any investment decision. The user assumes the entire risk of any use made of this information. Each viewer of this post should make such investigation as it deems necessary to arrive at an independent evaluation of an investment in the securities of companies referred to in this post (including the merits and risks involved), and should consult his or her own advisors to determine the merits and risks of such investment. This blog /forum (http://www.karachistockexchange.com/)  or any of its affiliates shall not be in any way responsible for any loss or damage that may be arise to any person from any inadvertent error in the information contained in this post.


Written by: Rana Khuram

Pakistan Stock Exchange (PSX) Weekly Analysis 5 October, 2020

BUY recommendations are:  ACPL, APL, BAFL, BOP, EFERT, ENGRO, FATIMA, FFBL, FFC, FML, GATM, HBL, HMB, HUBCO, ICI, KAPCO, LOTCHEM, LUCK, MCB, MEBL, NBP, NCL, NCPL, NML, NPL, OGDC, POL, PPL, PSO, and UBL.


Top losers of last week were: HASCOL, TRG, SYSTEMS, UBL, and HUBCO


The Pakistan Stock Exchange (PSX) market index experienced nothing less than bloodbath in three of the five sessions in the outgoing week. KSE-100 index closed on 40,070.83 by losing 1630 points or - 3.9%. 


According to experts of http://www.karachistockexchange.com, following news have played vital role in Karachi Stock Market index movement:


  • The downward trajectory was seen on back of unfolding developments on the political front
  • Participants reacted negatively to the political uncertainty caused in the wake of Pakistan Muslim League-Nawaz (PML-N) President and leader of opposition in the National Assembly Shehbaz Sharif being arrested by the National Accountability Bureau (NAB) in a money laundering case
  • The major blow to investor sentiments was delivered by the flare up in political temperature after the opposition coalition meetings which were also addressed by the former PM Nawaz Sharif from London
  • Concerns mounted when an Islamabad accountability court indicted former president Asif Ali Zardari in a mega money laundering case, also weighing on the overall sentiments
  • Increasing coronavirus cases and news of government imposing micro-smart lockdown in Karachi also kept the market under pressure
  • A drop in global crude oil prices and unimpressive financial results in index-heavy sectors also impacted the mood
  • US President Donald Trump confirmed rumours of him testing positive of coronavirus, which turned investors’ sentiment sour
  • Investors chose to stay on the sidelines as average volumes settled at 391 million shares (down 16% week-on-week) while average traded value clocked-in at $83 million (up2% week-on-week)
  • Negative contributions came from fertiliser (190 points), cement (179 points), oil and gas marketing companies (164 points), oil and gas exploration companies (159 points), and commercial banks (157 points)
  • Negative contributions were led by Hascol Petroleum (61 points), TRG Pakistan (61 points), Systems Limited (60 points), UBL (58 points) and Hubco (57 points)
  • Foreign selling continued this week clock- ing-in at $8.3 million compared to a net sell of $10.5 million last week. Selling was witnessed in commercial banks ($4.2 million) and ce- ment ($3.2 million). On the domestic front, major buying was reported by insurance com- panies ($15.4 million) and banks/development financial institutions ($12.4 million)
  • World Bank agreed to grant $450 million loan for renewable energy projects in Pakistan
  • POL sales declined 2% month-on-month in September
  • FBR surpassed tax collection target for 1QFY21 and the government kept petrol prices unchanged
  • The government appointed Tabish Gauhar as a special assistant to the prime minister on power
  • The government set export targets for the next five years, depending upon economic conditions, global situation and currency movement
  • The Federal Board of Revenue (FBR) extended the date for filing income tax returns/ statements till Dec 08, 2020
  • The Economic Coordination Committee approved over 19 billion rupees to start the implementation of retrenchment plan of Pakistan Steel Mills on immediate basis
  • SSGC started supplying up to 180 mmcfd of gas to K-Electric as the Gas shortfall in Sindh has reduced from 150 to 100 mmcfd, with pressure of gas also improving considerably


Following are few BUY recommendations:


Attock Cement Ltd. (ACPL) – BUY 

Current Price: PKR 154.01

Target Price: PKR 180.0


Attock Petroleum (APL) – BUY 

Current Price: PKR 343.41

Target Price: PKR 378.8


Amreli Steels Ltd. (ASTL) – BUY 

Current Price: PKR 41.22

Target Price: PKR 56.00


Bank Al-Falah (BAFL) – BUY 

Current Price: PKR 34.54

Target Price: PKR  51.00


Bank of Punjab (BOP) – BUY 

Current Price: PKR 9.73

Target Price: PKR 13.90


Engro Fertilizer (EFERT) – BUY 

Current Price: PKR 60.00

Target Price: PKR 73.0


ENGRO Corporation (ENGRO) – BUY 

Current Price: PKR 299.71

Target Price: PKR 331.10


Fatima Fertilizer (FATIMA) – BUY 

Current Price: PKR 28.59

Target Price: PKR 35.75


Fauji Fertilizer Bin Qasim (FFBL) – BUY 

Current Price: PKR 19.33

Target Price: PKR 30.0


Fauji Fertilizer Company (FFC) – BUY 

Current Price: PKR 107.50

Target Price: PKR 130.0


Feroze1888 Mills Ltd. (FML) – BUY 

Current Price: PKR 100.15

Target Price: PKR 112.4


Gul Ahmed Textile Mills (GATM) – BUY 

Current Price: PKR 36.17

Target Price: PKR 47.8


Habib Bank Limited (HBL) – BUY 

Current Price: PKR 131.04

Target Price: PKR 154.40


Habib Metropolitan Bank (HMB) – BUY 

Current Price: PKR 34.00

Target Price: PKR 45.70


HUB Power Co. (HUBCO) – BUY 

Current Price: PKR 78.76

Target Price: PKR 101.05


ICI Pakistan Ltd. (ICI) – BUY 

Current Price: PKR 731.62

Target Price: PKR 870.0


Kot Addu Power Co. (KAPCO) – BUY 

Current Price: PKR 25.66

Target Price: PKR 46.8


Lotte Chemical Pak Ltd. (LOTCHEM) – BUY 

Current Price: PKR 11.37

Target Price: PKR 14.1


Lucky Cement (LUCKY) – BUY 

Current Price: PKR 639.62

Target Price: PKR 761.30


Muslim Commercial Bank (MCB) – BUY 

Current Price: PKR   175.71

Target Price: PKR 211.00


Meezan Bank Limited (MEBL) – BUY 

Current Price: PKR   79.01

Target Price: PKR 100.00


National Bank of Pakistan (NBP) – BUY 

Current Price: PKR 39.52

Target Price: PKR 45.60


Nishat Chunian Limited (NCL) – BUY 

Current Price: PKR 38.55

Target Price: PKR 47.5


Nishat Chunian Power Limited (NCPL) – BUY 

Current Price: PKR 13.60

Target Price: PKR 27.0


Nishat Mills (NML) – BUY 

Current Price: PKR 99.68

Target Price: PKR 134.8


Nishat Power Limited (NPL) – BUY 

Current Price: PKR 22.21

Target Price: PKR 31.1


Oil & Gas Development Co. (OGDC) – BUY 

Current Price: PKR 101.11

Target Price: PKR 156.9


Pakistan Oil Limited (POL) – BUY 

Current Price: PKR 410.31

Target Price: PKR 563.0


Pakistan Petroleum (PPL) – BUY 

Current Price: PKR 89.58

Target Price: PKR 143.40


Pakistan State Oil (PSO) – BUY 

Current Price: PKR 194.48

Target Price: PKR 214.62


United Bank Limited (UBL) – BUY 

Current Price: PKR 116.83

Target Price: PKR 138.68


Thank you very much for reading this article.


NOTE: The information posted in this blog /forum (http://www.karachistockexchange.com/) is based on current affairs & investors point of view. There may be discrepancy in the ground realities. The information given in this blog /forum (http://www.karachistockexchange.com/) is as of the date of this post and there can be no assurance that future results or events will be consistent with this information. This post is provided for assistance only and is not intended to be and must not alone be taken as the basis for any investment decision. The user assumes the entire risk of any use made of this information. Each viewer of this post should make such investigation as it deems necessary to arrive at an independent evaluation of an investment in the securities of companies referred to in this post (including the merits and risks involved), and should consult his or her own advisors to determine the merits and risks of such investment. This blog /forum (http://www.karachistockexchange.com/)  or any of its affiliates shall not be in any way responsible for any loss or damage that may be arise to any person from any inadvertent error in the information contained in this post.


Written by: Rana Khuram


Pakistan Stock Exchange (PSX) Weekly Analysis 28 September, 2020

BUY recommendations are:  ACPL, APL, BAFL, BOP, EFERT, ENGRO, FATIMA, FFBL, FFC, FML, GATM, HBL, HMB, HUBCO, ICI, KAPCO, LOTCHEM, LUCK, MCB, MEBL, NBP, NCL, NCPL, NML, NPL, OGDC, POL, PPL, PSO, and UBL.


Top gainers of last week were: ILP, SHEL, DAWH, ATLH, and NCL


Top losers of last week were: OGDC, PPL, ANL, COLG, UBL, HUBC, and TRG.


Top Volume Leaders of last week were: HASCOL, KEL, UNITY, SILK, and ASL. 


The Pakistan Stock Exchange (PSX) market index witnessed another bearish week as spill over effect of faltering global equities battered the local stock market throughout the week. KSE-100 index closed on 41,701 by losing 804 points or - 1.89%. While KSE-30 index closed on 17,606 by losing 440 points or - 2.44%. 


According to experts of http://www.karachistockexchange.com, following news have played vital role in Karachi Stock Market index movement:


  • Equities lost more blood in week as bears mauled cements, autos, banks, and energies with ‘buying cues’ nowhere to be found amid a brewing political crisis
  • The week kicked-off amid high political noise, as the opposition leaders gathered for the All Parties Conference last weekend, thus largely impacting sentiment at the market
  • Policy rate status quo and a steady rupee are likely to keep the index ticking
  • Considering unchanged monetary policy and stable rupee, fresh liquidity injections from local and foreign investors in the near to medium term coupled with the end of the rollover week are expected to rally optimism in equities
  • Re-emergence of COVID-19 cases could result in a downside scenario for the market. So far, Pakistan seems to be far from a second wave of the coronavirus. However turmoil in international markets may continue to suppress sentiment in the domestic bourse
  • Average volumes hit 466 million shares, down 13 percent week-on-week, while average traded value reached $82 million, up 11 percent
  • Foreign investors sold equities worth $10.5 million compared to a net selling of $1.7 million last week
  • Major selling was witnessed in cement ($6.1 million) and commercial banks ($3.8 million)
  • On the local front, major buyers were insurance companies ($9.1 million) and other companies ($7 million)
  • State Bank of Pakistan’s Monetary Policy Committee decided to keep policy rate unchanged at 7 percent in its September 21 meeting
  • The central bank expects average inflation in FY21 to range within 7-9 percent and growth is projected to recover to slightly above 2 percent in FY21, after falling to -0.4 percent in FY20
  • In last week’s treasury bills auction, government raised Rs520 billion where cut-off yields for three-, six- and 12-month papers were relatively unchanged, which showed trimming of interest rate cycle almost over
  • Sector-wise negative contributions came from oil & gas exploration (267 points), commercial banks (180 points), power generation & distribution (81 points), cement (70 points), and technology & communication (61 points). Positive contributions came from textile composite (11 points)
  • Declining global oil prices also took a toll on the domestic oil sector, which registered modest losses
  • The Competition Commission of Pakistan (CCP) raided the office of All Pakistan Cement Manufacturers Association, which fuelled the decline further
  • Gas sector circular debt surged to Rs250 billion
  • IMF sought a further limit on short-term borrowings and exclusivity of K-Electric
  • The government cautioned of massive gas deficit in winter as supply halts from some fields
  • Pakistan's Forex Reserves decreased by USD 55.30 Million or 0.28% and the total liquid foreign reserves held by the country stood at USD 19,903.70 Million on Sep 18, 2020
  • The overall power production during the month of August’20 increased by 4%YoY to 14,630Gwh
  • The import of mobile phones into the country has witnessed an increase of 87.37 percent during the first two months of the ongoing financial year (2020-21) as compared to the corresponding period of last year


Following are few BUY recommendations:


Attock Cement Ltd. (ACPL) – BUY 

Current Price: PKR 162.13

Target Price: PKR 180.0


Attock Petroleum (APL) – BUY 

Current Price: PKR 345.75

Target Price: PKR 378.8


Amreli Steels Ltd. (ASTL) – BUY 

Current Price: PKR 45.65

Target Price: PKR 56.00


Bank Al-Falah (BAFL) – BUY 

Current Price: PKR 34.93

Target Price: PKR  51.00


Bank of Punjab (BOP) – BUY 

Current Price: PKR 9.80

Target Price: PKR 13.90


Engro Fertilizer (EFERT) – BUY 

Current Price: PKR 61.67

Target Price: PKR 73.0


ENGRO Corporation (ENGRO) – BUY 

Current Price: PKR 306.44

Target Price: PKR 331.10


Fatima Fertilizer (FATIMA) – BUY 

Current Price: PKR 29.46

Target Price: PKR 35.75


Fauji Fertilizer Bin Qasim (FFBL) – BUY 

Current Price: PKR 21.91

Target Price: PKR 30.0


Fauji Fertilizer Company (FFC) – BUY 

Current Price: PKR 110.46

Target Price: PKR 130.0


Feroze1888 Mills Ltd. (FML) – BUY 

Current Price: PKR 102.50

Target Price: PKR 112.4


Gul Ahmed Textile Mills (GATM) – BUY 

Current Price: PKR 39.16

Target Price: PKR 47.8


Habib Bank Limited (HBL) – BUY 

Current Price: PKR 133.81

Target Price: PKR 154.40


Habib Metropolitan Bank (HMB) – BUY 

Current Price: PKR 34.87

Target Price: PKR 45.70


HUB Power Co. (HUBCO) – BUY 

Current Price: PKR 81.37

Target Price: PKR 101.05


ICI Pakistan Ltd. (ICI) – BUY 

Current Price: PKR 725.24

Target Price: PKR 870.0


Kot Addu Power Co. (KAPCO) – BUY 

Current Price: PKR 27.55

Target Price: PKR 46.8


Lotte Chemical Pak Ltd. (LOTCHEM) – BUY 

Current Price: PKR 12.56

Target Price: PKR 14.1


Lucky Cement (LUCKY) – BUY 

Current Price: PKR 650.45

Target Price: PKR 761.30


Muslim Commercial Bank (MCB) – BUY 

Current Price: PKR   176.70

Target Price: PKR 211.00


Meezan Bank Limited (MEBL) – BUY 

Current Price: PKR   80.39

Target Price: PKR 100.00


National Bank of Pakistan (NBP) – BUY 

Current Price: PKR 40.26

Target Price: PKR 45.60


Nishat Chunian Limited (NCL) – BUY 

Current Price: PKR 41.79

Target Price: PKR 47.5


Nishat Chunian Power Limited (NCPL) – BUY 

Current Price: PKR 13.99

Target Price: PKR 27.0


Nishat Mills (NML) – BUY 

Current Price: PKR 106.43

Target Price: PKR 134.8


Nishat Power Limited (NPL) – BUY 

Current Price: PKR 22.05

Target Price: PKR 31.1


Oil & Gas Development Co. (OGDC) – BUY 

Current Price: PKR 104.10

Target Price: PKR 156.9


Pakistan Oil Limited (POL) – BUY 

Current Price: PKR 425.02

Target Price: PKR 563.0


Pakistan Petroleum (PPL) – BUY 

Current Price: PKR 92.42

Target Price: PKR 143.40


Pakistan State Oil (PSO) – BUY 

Current Price: PKR 204.77

Target Price: PKR 214.62


United Bank Limited (UBL) – BUY 

Current Price: PKR 122.10

Target Price: PKR 138.68


Thank you very much for reading this article.


NOTE: The information posted in this blog /forum (http://www.karachistockexchange.com/) is based on current affairs & investors point of view. There may be discrepancy in the ground realities. The information given in this blog /forum (http://www.karachistockexchange.com/) is as of the date of this post and there can be no assurance that future results or events will be consistent with this information. This post is provided for assistance only and is not intended to be and must not alone be taken as the basis for any investment decision. The user assumes the entire risk of any use made of this information. Each viewer of this post should make such investigation as it deems necessary to arrive at an independent evaluation of an investment in the securities of companies referred to in this post (including the merits and risks involved), and should consult his or her own advisors to determine the merits and risks of such investment. This blog /forum (http://www.karachistockexchange.com/)  or any of its affiliates shall not be in any way responsible for any loss or damage that may be arise to any person from any inadvertent error in the information contained in this post.


Written by: Rana Khuram

Pakistan Stock Exchange (PSX) Weekly Analysis 21 September, 2020

BUY recommendations are:  ACPL, APL, BAFL, BOP, EFERT, ENGRO, FATIMA, FFBL, FFC, FML, GATM, HBL, HMB, HUBCO, ICI, KAPCO, LOTCHEM, MCB, MEBL, NBP, NCL, NCPL, NML, NPL, OGDC, POL, PPL, PSO, and UBL.


Top gainers of last week were: UNITY, FFBL, OGDC, FFC, POL, MTL, EPCL, SPWL, EPCL, and MTL.


Top losers of last week were: YOUW, JLICL, TRG, PPL, PAKT, KAPCO, HBL FATIMA, KAPCO, and ANL.


Top Volume Leaders of last week were: HASCOL, KEL, PIBTL, UNITY, and FFL. 


The Pakistan Stock Exchange (PSX) market index witnesses range-bound trading as investors remain cautiously optimistic due to the uncertainty with regards to the upcoming AGP-FATF meeting. KSE-100 index closed on 42,505 by losing 26 points or - 0.06%. While KSE-30 index closed on 18,046 by losing 25 points or - 0.14%. 


According to experts of http://www.karachistockexchange.com, following news have played vital role in Karachi Stock Market index movement:


  • The week began on a weak note, with government and opposition parties in a deadlock over passage of bills concerning anti money laundering regulation
  • IMF also pushed for materialization of long due utility tariff hikes, which were put on hold earlier this year due to COVID-19
  • The market breathed a sigh of relief as NA passed an amendment bill to meet certain requirements of the FATF
  • A PkR10/bag increase in cement prices, giving some support to the market in 2nd trading session of the week
  • PkR100-250 per bag increase in DAP prices leading to a modest rally in FFBL
  • Overseas Pakistanis sent $2.1 billion in remittances in August 2020, 24.4% higher than August last year
  • M&A related rumors regarding PTC driving the stock’s performance
  • SHC bars collecting GIDC from two firms (EFERT & FATIMA)
  • Fertilizer firms threaten to hike prices
  • Government keen to explore workable GIDC options
  • Remittances up 31pc in July-August
  • Large scale manufacturing rebounds by 5.02pc in July
  • Foreign investment jumps 24pc in August
  • Reko Diq dispute: World Bank panel grants stay on enforcement of award
  • An improvement in the large-scale manufacturing readings, which jumped 5% year-on-year in July after five successive months of deceleration
  • Average volumes settled at 537 million shares (down 28% week-on-week). While average traded value clocked-in at $93 million (depicting a decline of 35% week-on-week)
  • Sectors such as food and personal care (up 2.7% week-on-week) and engineering (2.3%) outperformed the benchmark index
  • Negative contributions came from insurance (down 47 points), commercial banks (38 points), power generation and distribution (37 points), tobacco (28 points), and textile (25 points)
  • Asian Development Bank revised down Pakistan's FY21 growth forecast to 2%
  • International oil prices cast a gloomy spell on the energy shares early in the week
  • The key upcoming event of the SBP Monetary Policy and its date of announcement kept investors cautious although various polls undertaken by brokerage houses overwhelmingly produced a “no change” in the interest rate vote
  • The All Parties Conference to be held by the opposition against the government on Monday would also be closely watched

Following are few BUY recommendations:


Attock Cement Ltd. (ACPL) – BUY 

Current Price: PKR 167.27

Target Price: PKR 180.0


Attock Petroleum (APL) – BUY 

Current Price: PKR 354.16

Target Price: PKR 378.8


Bank Al-Falah (BAFL) – BUY 

Current Price: PKR 35.92

Target Price: PKR  51.00


Bank of Punjab (BOP) – BUY 

Current Price: PKR 9.85

Target Price: PKR 13.90


Engro Fertilizer (EFERT) – BUY 

Current Price: PKR 60.85

Target Price: PKR 73.0


ENGRO Corporation (ENGRO) – BUY 

Current Price: PKR 306.53

Target Price: PKR 331.10


Fatima Fertilizer (FATIMA) – BUY 

Current Price: PKR 29.21

Target Price: PKR 35.75


Fauji Fertilizer Bin Qasim (FFBL) – BUY 

Current Price: PKR 23.03

Target Price: PKR 30.0


Fauji Fertilizer Company (FFC) – BUY 

Current Price: PKR 111.66

Target Price: PKR 130.0


Feroze1888 Mills Ltd. (FML) – BUY 

Current Price: PKR 100.30

Target Price: PKR 112.4


Gul Ahmed Textile Mills (GATM) – BUY 

Current Price: PKR 39.01

Target Price: PKR 47.8


Habib Bank Limited (HBL) – BUY 

Current Price: PKR 134.22

Target Price: PKR 154.40


Habib Metropolitan Bank (HMB) – BUY 

Current Price: PKR 35.50

Target Price: PKR 45.70


HUB Power Co. (HUBCO) – BUY 

Current Price: PKR 84.57

Target Price: PKR 101.05


ICI Pakistan Ltd. (ICI) – BUY 

Current Price: PKR 741.63

Target Price: PKR 870.0


Kot Addu Power Co. (KAPCO) – BUY 

Current Price: PKR 28.10

Target Price: PKR 46.8


Lotte Chemical Pak Ltd. (LOTCHEM) – BUY 

Current Price: PKR 13.36

Target Price: PKR 14.1


Muslim Commercial Bank (MCB) – BUY 

Current Price: PKR   178.84

Target Price: PKR 211.00


Meezan Bank Limited (MEBL) – BUY 

Current Price: PKR   84.80

Target Price: PKR 100.00


National Bank of Pakistan (NBP) – BUY 

Current Price: PKR 41.02

Target Price: PKR 45.60


Nishat Chunian Limited (NCL) – BUY 

Current Price: PKR 40.58

Target Price: PKR 47.5


Nishat Chunian Power Limited (NCPL) – BUY 

Current Price: PKR 14.89

Target Price: PKR 27.0


Nishat Mills (NML) – BUY 

Current Price: PKR 106.07

Target Price: PKR 134.8


Nishat Power Limited (NPL) – BUY 

Current Price: PKR 23.01

Target Price: PKR 31.1


Oil & Gas Development Co. (OGDC) – BUY 

Current Price: PKR 112.35

Target Price: PKR 156.9


Pakistan Oil Limited (POL) – BUY 

Current Price: PKR 433.95

Target Price: PKR 563.0


Pakistan Petroleum (PPL) – BUY 

Current Price: PKR 98.71

Target Price: PKR 143.40


Pakistan State Oil (PSO) – BUY 

Current Price: PKR 207.22

Target Price: PKR 214.62


United Bank Limited (UBL) – BUY 

Current Price: PKR 128.93

Target Price: PKR 138.68


Thank you very much for reading this article.


NOTE: The information posted in this blog /forum (http://www.karachistockexchange.com/) is based on current affairs & investors point of view. There may be discrepancy in the ground realities. The information given in this blog /forum (http://www.karachistockexchange.com/) is as of the date of this post and there can be no assurance that future results or events will be consistent with this information. This post is provided for assistance only and is not intended to be and must not alone be taken as the basis for any investment decision. The user assumes the entire risk of any use made of this information. Each viewer of this post should make such investigation as it deems necessary to arrive at an independent evaluation of an investment in the securities of companies referred to in this post (including the merits and risks involved), and should consult his or her own advisors to determine the merits and risks of such investment. This blog /forum (http://www.karachistockexchange.com/)  or any of its affiliates shall not be in any way responsible for any loss or damage that may be arise to any person from any inadvertent error in the information contained in this post.


Written by: Rana Khuram

Pakistan Stock Exchange (PSX) Weekly Analysis 14 September, 2020

BUY recommendations are:  ACPL, APL, BAFL, BOP, EFERT, ENGRO, FATIMA, FFBL, FFC, FML, GATM, HBL, HMB, HUBCO, ICI, KAPCO, LOTCHEM, MCB, MEBL, NBP, NCL, NCPL, NML, NPL, OGDC, POL, PPL, PSO, and UBL.


Top gainers of last week were:  BYCO, UBL, ENGRO, HUBCO, HASCOL, HBL, JLICL, KOHC, SYS, and NATF.


Top losers of last week were:  PPL, LUCK, Nestle, EFERT, OGDC, IDYM, PIOC, MEBL, COLG, and MLCF.


Top Volume Leaders of last week were: PIBTL, HASCOL, PTC, POWER, and KEL. 


The Pakistan Stock Exchange (PSX) market index was supported by prominent performance of heavy-weights banks and Cements. KSE-100 index closed on 42,531 by gaining 508 points or 1.21 %. While KSE-30 index closed on 18,071 by gaining 152 points or 0.85 %. 


According to experts of http://www.karachistockexchange.com, following news have played vital role in Karachi Stock Market index movement:


  • E&P sector found its place on the other end of the spectrum (down 2.5%WoW) as international oil price trended downwards (down 6.0%WoW) with Saudi Arabia planning to sell at lower rates in Oct 2020
  • Cabinet ratifying CCoP’s decision to offload 7% and 10% shares of OGDC and PPL respectively, only to be partially resurrected by large gas discovery in Kalat (over 1tcf) by Pakistan Petroleum Limited (PPL)
  • Unimpressive financial results in the cement and exploration and production sectors dragged them down while a drop in global crude oil prices triggered sell-off in oil sector stocks
  • Average traded value stood at PkR30.2bn in the outgoing week, similar to previous week
  • Amongst other sectors, Refineries were +15.8%WoW followed by Insurance (+6.3%WoW) and Techs (+6.0%WoW) while Vanaspati, Chemicals and Auto parts manufacturers lost 2.9%, 2.8% and 2.7% respectively
  • Progress on FATF with NA and Senate taking up more bills
  • Various developments relating to addressing power sector structural issues
  • IMF asking Pakistan to increase gas, electricity prices
  • Foreign investors offloaded stocks worth $4.40 million compared to a net sale of $10.03m the previous week. Major outflow was witnessed in exploration and production of $1.15m and fertiliser $1.01m
  • On the local front, buying was reported by individuals of shares valued at $22.84m, followed by mutual funds $8.50m
  • Increase in State Bank of Pakistan’s foreign exchange reserves by $95m to $12.81bn
  • KIA Lucky Motors announced operation of its plant on double shift starting January 2021 to keep up with the rising demand for Sportage and Picanto

Following are few BUY recommendations:


Attock Cement Ltd. (ACPL) – BUY 

Current Price: PKR 175.27

Target Price: PKR 180.0


Attock Petroleum (APL) – BUY 

Current Price: PKR 352.34

Target Price: PKR 378.8


Bank Al-Falah (BAFL) – BUY 

Current Price: PKR 36.25

Target Price: PKR  51.00


Bank of Punjab (BOP) – BUY 

Current Price: PKR 10.06

Target Price: PKR 13.90


Engro Fertilizer (EFERT) – BUY 

Current Price: PKR 62.08

Target Price: PKR 73.0


ENGRO Corporation (ENGRO) – BUY 

Current Price: PKR 312.23

Target Price: PKR 331.10


Fatima Fertilizer (FATIMA) – BUY 

Current Price: PKR 31.51

Target Price: PKR 35.75


Fauji Fertilizer Bin Qasim (FFBL) – BUY 

Current Price: PKR 20.48

Target Price: PKR 24.4


Fauji Fertilizer Company (FFC) – BUY 

Current Price: PKR 109.50

Target Price: PKR 130.0


Feroze1888 Mills Ltd. (FML) – BUY 

Current Price: PKR 106.51

Target Price: PKR 112.4


Gul Ahmed Textile Mills (GATM) – BUY 

Current Price: PKR 39.48

Target Price: PKR 47.8


Habib Bank Limited (HBL) – BUY 

Current Price: PKR 135.70

Target Price: PKR 154.40


Habib Metropolitan Bank (HMB) – BUY 

Current Price: PKR 35.57

Target Price: PKR 45.70


HUB Power Co. (HUBCO) – BUY 

Current Price: PKR 85.23

Target Price: PKR 101.05


ICI Pakistan Ltd. (ICI) – BUY 

Current Price: PKR 734.86

Target Price: PKR 870.0


Kot Addu Power Co. (KAPCO) – BUY 

Current Price: PKR 30.55

Target Price: PKR 46.8


Lotte Chemical Pak Ltd. (LOTCHEM) – BUY 

Current Price: PKR 13.49

Target Price: PKR 14.1


Muslim Commercial Bank (MCB) – BUY 

Current Price: PKR   178.15

Target Price: PKR 211.00


Meezan Bank Limited (MEBL) – BUY 

Current Price: PKR   85.09

Target Price: PKR 100.00


National Bank of Pakistan (NBP) – BUY 

Current Price: PKR 41.23

Target Price: PKR 45.60


Nishat Chunian Limited (NCL) – BUY 

Current Price: PKR 40.94

Target Price: PKR 47.5


Nishat Chunian Power Limited (NCPL) – BUY 

Current Price: PKR 15.00

Target Price: PKR 27.0


Nishat Mills (NML) – BUY 

Current Price: PKR 107.50

Target Price: PKR 134.8


Nishat Power Limited (NPL) – BUY 

Current Price: PKR 23.12

Target Price: PKR 31.1


Oil & Gas Development Co. (OGDC) – BUY 

Current Price: PKR 109.40

Target Price: PKR 156.9


Pakistan Oil Limited (POL) – BUY 

Current Price: PKR 423.30

Target Price: PKR 563.0


Pakistan Petroleum (PPL) – BUY 

Current Price: PKR 100.44

Target Price: PKR 118.3


Pakistan State Oil (PSO) – BUY 

Current Price: PKR 203.47

Target Price: PKR 214.62


United Bank Limited (UBL) – BUY 

Current Price: PKR 129.29

Target Price: PKR 138.68


Thank you very much for reading this article.


NOTE: The information posted in this blog /forum (http://www.karachistockexchange.com/) is based on current affairs & investors point of view. There may be discrepancy in the ground realities. The information given in this blog /forum (http://www.karachistockexchange.com/) is as of the date of this post and there can be no assurance that future results or events will be consistent with this information. This post is provided for assistance only and is not intended to be and must not alone be taken as the basis for any investment decision. The user assumes the entire risk of any use made of this information. Each viewer of this post should make such investigation as it deems necessary to arrive at an independent evaluation of an investment in the securities of companies referred to in this post (including the merits and risks involved), and should consult his or her own advisors to determine the merits and risks of such investment. This blog /forum (http://www.karachistockexchange.com/)  or any of its affiliates shall not be in any way responsible for any loss or damage that may be arise to any person from any inadvertent error in the information contained in this post.


Written by: Rana Khuram