Pakistan Stock Exchange (PSX) Weekly Analysis 12 Mar, 2016

BUY recommendations are ABL, APL, BAFL, BAHL, CHCC, DGKC, EFERT, ENGRO, FATIMA, FFBL, HBL, HCAR, INDU, KEL, LUCK, MCB, MLCF, NCPL, NPL, OGDC, PIOC, POL, PPL, PSMC, PSO, PTC and UBL.

Top gainers of last week were: Attock Cement Ltd, Engro Foods Ltd, TRG Pakistan Ltd, Fauji Fert Bin, P.T.C.L.A, Pak Petroleum, Oil and Gas Deve, Cherat Cement, Pak Oilfields and GlaxoSmithKline Pak.

Top losers of last week were: Associated Services Limited, Stand.Chart.Bank, Allied Rental Mod, Bannu Woollen, Packages Limited, Ghani Glass Ltd, Nishat Power Ltd, Pak Suzuki Motor, Honda Atlas Cars and Service Indus.

Top ten volume leaders: TRG, JSCL, PAEL, SSGC, PIBTL, BOP, SNGP, PTC, FFBL, FCCL, and KEL.

The Karachi Stock Exchange (KSE) market recovery remains on track as KSE-100 index up 0.7% WoW. The benchmark Karachi Stock Exchange (KSE) 100-share Index gain 227 points, or 0.7 percent, to close the week at 32,669 points. KSE 30-share Index gain 61 points, or 0.32 percent, to end at 19,232 points.

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

  • ECNEC’s approval of infrastructure projects in excess of PKR83bn also helped in keeping the cement sector afloat with excitement
  • Fertilizer plays cheered the increase in international fertilizer prices, but their celebrations were cut short as chatter of urea imports to check the alleged cartelization of the local fertilizer lobby pushed these stocks into red
  • EFOODS finally took a breather after crossing the PKR150/share mark as excitement regarding its acquisition by a Dutch dairy company ran out of fuel
  • The first motorcycle of Atlas Honda Limited’s new line is expected to roll out in the beginning of October this year under the company’s expansion project
  • Lucky Cement gets licence to generate 660MW coal power
  • Government plans to float another USD3.5bn worth of Eurobonds
  • Fuel sales in Pakistan grew by 5% to 14.8mt in 8MFY16, driven by strong growth in petrol and HSD
  • ECC of the Cabinet approved increase in withholding tax on banking transactions of non‐filers from 0.3% to 0.4% and deferred the approval of Auto Policy for more consultation
  • NTC rejected petition of PSM for imposition of anti‐dumping duty on import of iron ore and steel products from China
  • Foreigners turned net buyers during the week, mopping up shares worth USD 4.12mn versus a net sell of USD1.56mn in the prior week
  • Provisional tax collection numbers improving by 19% YoY in 8MFY16
  • Auto sales declining by 9% YoY in Feb-16 but up an impressive 46% YoY in 8MFY16
  • Total cement dispatches growing by 25% YoY in Feb-2016 and 9% YoY in 8MFY16

Following are few BUY recommendations:

Allied Bank Limited (ABL) – BUY
Current Price: PKR 85.95
Target Price: PKR 135.00 

Attock Petroleum (APL) – BUY
Current Price: PKR 421.52
Target Price: PKR 626.37

Bank Al-Falah (BAFL) – BUY
Current Price: PKR 25.80
Target Price: PKR 32

Bank Al-Habib (BAHL) – BUY
Current Price: PKR 45.54
Target Price: PKR 68

Cherat Cement (CHCC) – BUY
Current Price: PKR 97.90
Target Price: PKR 120

DG Khan Cement (DGKC) – BUY
Current Price: PKR 165.4
Target Price: PKR 237

ENGRO Fertilizer Limited (EFERT) – BUY
Current Price: PKR 75.69
Target Price: PKR 110

Engro Corporation (ENGRO) – BUY
Current Price: PKR 307.35
Target Price: PKR 362.00

Fatima Fertilizer (FATIMA) – BUY
Current Price: PKR 36.34
Target Price: PKR 49

Fauji Fertilizer Bin Qasim (FFBL) – BUY
Current Price: PKR 51.97
Target Price: PKR 62

Habib Bank Limited (HBL) – BUY
Current Price: PKR 181.24
Target Price: PKR 268

Honda Atlas Cars (HCAR) – BUY
Current Price: PKR 245.45
Target Price: PKR 330.00

Indus Motor (INDU) – BUY
Current Price: PKR 946.83
Target Price: PKR 1200

K-Electric (KEL) – BUY
Current Price: PKR 6.9
Target Price: PKR 13.7

Lucky Cement (LUCK) – BUY
Current Price: PKR 521.27
Target Price: PKR 652

MCB Bank Limited (MCB) – BUY
Current Price: PKR 206.76
Target Price: PKR 268

Maple Leaf Cement Factory (MLCF) – BUY
Current Price: PKR 87.5
Target Price: PKR 108

Nishat Chun Power (NCPL) – BUY
Current Price: PKR 50.91
Target Price: PKR 63

Nishat Power Ltd (NPL) – BUY
Current Price: PKR 50.51
Target Price: PKR 59

Oil & Gas Development Co. (OGDC) – BUY
Current Price: PKR 116.82
Target Price: PKR 172

Pioneer Cement (PIOC) – BUY
Current Price: PKR 90.63
Target Price: PKR 105

Pak Oilfields (POL) – BUY
Current Price: PKR 259.61
Target Price: PKR 348

Pakistan Petroleum (PPL) – BUY
Current Price: PKR 125.18
Target Price: PKR 168

Pak Suzuki Motors (PSMC) – BUY
Current Price: PKR 433.96
Target Price: PKR 532

Pakistan State Oil (PSO) – BUY
Current Price: PKR 350
Target Price: PKR 456

Pakistan Telecommunications (PTC) – BUY
Current Price: PKR 14.9
Target Price: PKR 21.9

United Bank Ltd (UBL) – BUY
Current Price: PKR 151.72
Target Price: PKR 212.00

Thank you very much for reading this article.

NOTE: The information posted in this blog /forum (http://www.karachistockexchange.org/) is based on current affairs & investors point of view. There may be discrepancy in the ground realities.

Written by: Rana Khurram

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