Pakistan Stock Exchange (PSX) Weekly Analysis 26 February, 2017


Top gainers of last week were: IDYM, BWCL, NESTLE, HMB, MTL, BATA, MARI, PIOC, SSGC and FEROZ.

Top losers of last week were: BOP, HASCOL, GHGL, IGIIL, NPL, MUREB, DAWH, ISL, PMPK and AHCL.

Top Volume Leaders of last week: KEL, TRG, SSGC, BOP, SNGP, PAEL, BAFL, ISL, NBP, PAEL, NCL and PIBTL.

The Pakistan Stock Exchange (PSX) market index continued it’s downwards trend from the previous week, declining marginally by 0.7% (~367pts), to close at 49,008pts. KSE-100 index has reached on 49,008 by decreasing -368 points or -0.74 %, while KSE-30 index reached on 26,592 by decreasing -104 points or -0.39 %.

According to experts of, following news have played vital role in Karachi Stock Market index movement:

  • Foreigners remained net sellers during the week, mopping up USD 4.84mn worth of shares
  • Work on 1320 megawatts coal based power plant costing two point six billion dollars is underway at Thar Coal Field which will start producing electricity by 2018
  • NTC has decided final definitive antidumping duty on imports of cotton yarn
  • Daewoo Express, the Pakistan’s only foreign transport service provider, has planned to secure four billion rupees through an initial public offering (IPO) at the country’s capital market
  • Bestway Cement remained the key outperformer during the week with a gain of 1.4% post announcement of its non-binding agreement with Dewan Cement Limited (DCL) for acquisition of Hattar plant
  • Sui Southern Gas Company (SSGC) also gained traction (up 3.7% WoW) on recommendation of additional allowance of UFG by a reputable advisory firm
  • Bank Alfalah reported 2016 consolidated EPS of Rs 4.96 (+5% YoY). While earnings were in line with market expectation, lack of final cash dividend (amid CAR concerns) led the stock to close at its lower circuit
  • Tariq Glass (TGL) posted profits of Rs203mn (EPS: Rs2.77, +2.8x YoY/ 8% QoQ), on revenue of Rs 2.5bn (+27% YoY). The result took half year EPS to Rs 5.33 vs Rs 3.21 last year, up 66% YoY
  • PSMC released expansion plans for producing 100,000 units (current capacity is 150,000) with total planned outlay of US$460mn
  • Government finally allocates Rs25b for Gwadar LNG pipeline
  • Hascol to develop LPG Terminal at Port Qasim

Following are few BUY recommendations:

Allied Bank Limited (ABL) – BUY 
Current Price: PKR 100.23
Target Price: PKR 132

Adamjee Insurance (AICL) – BUY 
Current Price: PKR 74.07
Target Price: PKR 92

Attock Petroleum (APL) – BUY 
Current Price: PKR 635.6
Target Price: PKR 796

Al Shaheer Corporation Ltd. (ASC) – BUY 
Current Price: PKR 46.20
Target Price: PKR 82

Bank Al-Habib Limited (BAHL) – BUY 
Current Price: PKR 54.10
Target Price: PKR 64

Dera Ghazi Khan Cement (DGKC) – BUY 
Current Price: PKR 240.3
Target Price: PKR 270

ENGRO Fertilizer Limited (EFERT) – BUY 
Current Price: PKR 68.2
Target Price: PKR 83

Current Price: PKR 182.97
Target Price: PKR 225

Engro Corporation (ENGRO) – BUY
Current Price: PKR 373.42
Target Price: PKR 391

Fauji Cement Company Limited (FCCL) – BUY 
Current Price: PKR 44.7
Target Price: PKR 54

Fauji Fert Bin Qasim (FFBL) – BUY 
Current Price: PKR 54.1
Target Price: PKR 67

General Tyre & Rubber  (GTYR) – BUY 
Current Price: PKR 271.02
Target Price: PKR 313

Habib Bank Limited (HBL) – BUY 
Current Price: PKR 273.87
Target Price: PKR 304

Hascol Petroleum (HASCOL) – BUY 
Current Price: PKR 327.81
Target Price: PKR 428

Hi-Tech Lubricants (HTL) – BUY 
Current Price: PKR 112.44
Target Price: PKR 133

Indus Motors (INDU) – BUY
Current Price: PKR 1,679.17
Target Price: PKR 1,974

Kot Adu Power (KAPCO) – BUY
Current Price: PKR 80.37
Target Price: PKR 107

K-Electric (KEL) – BUY
Current Price: PKR 9.8
Target Price: PKR 13

Kohat Cement (KOHC) – BUY
Current Price: PKR 270.5
Target Price: PKR 353

Lalpir Power (LPL) – BUY 
Current Price: PKR 22.22
Target Price: PKR 46

Lucky Cement (LUCK) – BUY 
Current Price: PKR 877.55
Target Price: PKR 1,046

Maple Leaf Cement (MLCF) – BUY 
Current Price: PKR 128.2
Target Price: PKR 165

Muslim Commercial Bank (MCB) – BUY 
Current Price: PKR 231.01
Target Price: PKR 280

Meezan Bank (MEBL) – BUY 
Current Price: PKR 65.24
Target Price: PKR 72

National Foods (NATF) – BUY 
Current Price: PKR 345.12
Target Price: PKR 473

Nishat Power (NPL) – BUY 
Current Price: PKR 55.63
Target Price: PKR 81

Oil & Gas Development Co. (OGDC) – BUY 
Current Price: PKR 157.5
Target Price: PKR 200

Pioneer Cement Limited (PIOC) – BUY 
Current Price: PKR 148.8
Target Price: PKR 161

Pakgen Power (PKGP) – BUY 
Current Price: PKR 24.05
Target Price: PKR 47

Pakistan Oilfields Limited (POL) – BUY 
Current Price: PKR 480.0
Target Price: PKR 569.4

Power Cement (POWER) – BUY 
Current Price: PKR 18.75
Target Price: PKR 26

Pakistan Petroleum Limited (PPL) – BUY 
Current Price: PKR 176.2
Target Price: PKR 218

Pakistan State Oil (PSO) – BUY 
Current Price: PKR 449.5
Target Price: PKR 490

Pakistan Telecommunications (PTC) – BUY 
Current Price: PKR 16.88
Target Price: PKR 21.9

Tariq Glass (TGL) – BUY 
Current Price: PKR 107.4
Target Price: PKR 120

United Bank Limited (UBL) – BUY 
Current Price: PKR 248.50
Target Price: PKR 294

Thank you very much for reading this article.

NOTE: The information posted in this blog /forum ( 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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