Pakistan Stock Exchange (PSX) Weekly Analysis 11 June, 2017

BUY recommendations are ABL, AICL, APL, BAHL, CHCC, DGKC, EFERT, EFOODS, FATIMA, FCCL, FFBL, FFC, GWLC, HBL, HASCOL, HTL, HUBCO, KAPCO, KEL, KOHC, LPL, LUCK, MARI, MCB, MEBL, MLCF, MTL, NBP, NATF, NCL, NCPL, NML, NPL, OGDC, PIOC, PKGP, POL, POWER, PPL, PSO, PTC, SEARL, TGL, UBL.

Top gainers of last week were: SHFA, ABOT, THALL, ICI, JLICL, OLPL, HCAR, GHGL, INDU and MLCF.

Top losers of last week were: IDYM, BATA, KTML, COLG, ARM, EFOODS, NML, FML, NCL and ATRL.

Top Volume Leaders of last week: KEL, TRG, ISL, BOP, SNGP, PAEL, MLCF, BAFL, HUBC, OGDC, and PIBTL.

The Pakistan Stock Exchange (PSX) market index recovered 972 points during the outgoing week, a drop in the ocean compared to the 4,082 points lost last week when Pakistan’s upgrade to Emerging Market status didn’t go as expected in terms of foreign flows and market performance. KSE-100 index has reached 49,527 by increase 972 points or 2 %. While KSE -30 index reached on 25,842 by increasing 466 points or 1.84%.

The average turnover remained de-pressed throughout the week to clock in at 70mn shares traded on the main board, against a turnover of 145mn trades last week.

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


  • Announcement of capacity addition by Kohat cement (KOHC) of 2.3mtpa at its existing site
  • Exploratory findings in Aqeeq-1 at Sujawal block with MARI having 100% stake in the field
  • Uptake of cement in domestic market accelerated to 10.90 percent in May 2017 while exports continue to mar the performance of the cement sector registering a decline of 44.58 percent in May 2017 
  • Government defers 10% cut in duty on imported vehicles
  • The price of cement has been increased by Rs 55 per 50 kg cement bag even though the effective date of increase in federal excise duty (FED) in the proposed Finance Bill 2017-18 is July 1, 2017
  • Sindh government has increased the sales tax on telecom services to 19.5 percent from 19 percent in order to bring it at par with other provinces
  • Encouragingly, there was some respite in foreign selling as offshore investors turned net buyers of US$14mn during the week
  • Foreign exchange reserves declining by US$1.25bn on debt payments to US$20.516bn
  • Sindh government allocating Rs2bn subsidy for tractor purchases
  • ENGRO hinting at closing milk plant in Sukkur because of tax policies
  • CM Sindh presented FY18 provincial budget with a record outlay of PkR1.04tn, with total expenditures/revenues estimated at PkR1043/1028bn and PkR274bn has been allocated for development expenditure
  • The Pakistan Stock Exchange concluded the IPO for 20% of its stake in line with its demutualization process
  • The World Bank has forecasted Pakistan's GDP growth rate for FY18/FY19 at 5.5%/5.8% on the back of robust agriculture sector and CPEC led development


Following are few BUY recommendations:

Allied Bank Limited (ABL) – BUY 
Current Price: PKR 95.00
Target Price: PKR 132

Adamjee Insurance (AICL) – BUY 
Current Price: PKR 74.39
Target Price: PKR 92

Attock Petroleum (APL) – BUY 
Current Price: PKR 691.2
Target Price: PKR 796

Bank Al-Habib Limited (BAHL) – BUY 
Current Price: PKR 61.06
Target Price: PKR 64

Cherat Cement Company Limited (CHCC) – BUY 
Current Price: PKR 183.2
Target Price: PKR 251

Dera Ghazi Khan Cement (DGKC) – BUY 
Current Price: PKR 229.4
Target Price: PKR 270

ENGRO Fertilizer Limited (EFERT) – BUY 
Current Price: PKR 57.89
Target Price: PKR 83

ENGRO Foods (EFOODS) – BUY 
Current Price: PKR 138.0
Target Price: PKR 225

Fatima Fertilizer (FATIMA) – BUY 
Current Price: PKR 32.6
Target Price: PKR 45.1

Fauji Cement Company Limited (FCCL) – BUY 
Current Price: PKR 45.4
Target Price: PKR 54

Fauji Fert Bin Qasim (FFBL) – BUY 
Current Price: PKR 46.38
Target Price: PKR 67

Fauji Fertilizer Company (FFC) – BUY 
Current Price: PKR 93.96
Target Price: PKR 122.0

Gharibwal Cement Ltd (GWLC) – BUY 
Current Price: PKR 53.6
Target Price: PKR 104.0

Habib Bank Limited (HBL) – BUY 
Current Price: PKR 257.5
Target Price: PKR 334

Hascol Petroleum (HASCOL) – BUY 
Current Price: PKR 370.59
Target Price: PKR 428

Hi-Tech Lubricants (HTL) – BUY 
Current Price: PKR 115.05
Target Price: PKR 133

HUBCO (HUBC) – BUY 
Current Price: PKR 124.9
Target Price: PKR 144

Kot Adu Power (KAPCO) – BUY
Current Price: PKR 74.83
Target Price: PKR 107

K-Electric (KEL) – BUY
Current Price: PKR 7.3
Target Price: PKR 13

Kohat Cement (KOHC) – BUY
Current Price: PKR 243.1
Target Price: PKR 353

Lalpir Power (LPL) – BUY 
Current Price: PKR 20.22
Target Price: PKR 46

Lucky Cement (LUCK) – BUY 
Current Price: PKR 858.61
Target Price: PKR 1,046

Mari Petroleum Ltd. (MARI) – BUY 
Current Price: PKR 1,698.81
Target Price: PKR 2,068.2

Muslim Commercial Bank (MCB) – BUY 
Current Price: PKR 215.2
Target Price: PKR 280

Meezan Bank (MEBL) – BUY 
Current Price: PKR 84
Target Price: PKR 90

Maple Leaf Cement (MLCF) – BUY 
Current Price: PKR 114.9
Target Price: PKR 154.0

Millat Tractors Ltd. (MTL) – BUY 
Current Price: PKR 1,526.86
Target Price: PKR 1,594.8

National Bank of Pakistan (NBP) – BUY 
Current Price: PKR 66.27
Target Price: PKR 74

National Foods (NATF) – BUY 
Current Price: PKR 334.00
Target Price: PKR 473

Nishat Chunian (NCL) – BUY 
Current Price: PKR 56.08
Target Price: PKR 74

Nishat Chunian Power (NCPL) – BUY 
Current Price: PKR 43.1
Target Price: PKR 59

Nishat Mills (NML) – BUY 
Current Price: PKR 160.29
Target Price: PKR 186

Nishat Power (NPL) – BUY 
Current Price: PKR 45.0
Target Price: PKR 81

Oil & Gas Development Co. (OGDC) – BUY 
Current Price: PKR 160.0
Target Price: PKR 200

Pioneer Cement Limited (PIOC) – BUY 
Current Price: PKR 145.1
Target Price: PKR 161

Pakgen Power (PKGP) – BUY 
Current Price: PKR 20.18
Target Price: PKR 47

Pakistan Oilfields Limited (POL) – BUY 
Current Price: PKR 513.98
Target Price: PKR 569.4

Power Cement (POWER) – BUY 
Current Price: PKR 14.33
Target Price: PKR 26

Pakistan Petroleum Limited (PPL) – BUY 
Current Price: PKR 167.6
Target Price: PKR 218

Pakistan State Oil (PSO) – BUY 
Current Price: PKR 447.0
Target Price: PKR 490

Pakistan Telecommunications (PTC) – BUY 
Current Price: PKR 15.5
Target Price: PKR 21.9

The Searle Co. Ltd (SEARL) – BUY 
Current Price: PKR 606.20
Target Price: PKR 816.6

Tariq Glass (TGL) – BUY 
Current Price: PKR 122.46
Target Price: PKR 134

United Bank Limited (UBL) – BUY 
Current Price: PKR 232.9
Target Price: PKR 294

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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