Pakistan Stock Exchange (PSX) Weekly Analysis 19 June, 2017

BUY recommendations are ABL, ACPL, AICL, APL, CHCC, DGKC, EFERT, EFOODS, ENGRO, FATIMA, FCCL, FFBL, FFC, GWLC, HBL, HASCOL, HTL, HUBC, INDU, KEL, KOHC, LPL, LUCK, MLCF, MTL, NBP, NATF, NCL, NCPL, NML, NPL, OGDC, PAEL, PIOC, PKGP, POL, POWER, PPL, PSO, PTC, SEARL and UBL.

Top gainers of last week were: PAKT, IBFL, HBL, JLICL, NESTLE, POML, PSEL, ARM, IDYM and COLG.

Top losers of last week were: SHEL, TRG, OGDC, PSO, GHGL, PPL, FFBL, POL, PSMC and ISL.

Top Volume Leaders of last week: KEL, TRG, ISL, BOP, SNGP, PAEL, OGDC, FCCL, BAFL, UBL, and EFERT.

The Pakistan Stock Exchange (PSX) market index dived into the red zone on political spillover from Prime Minister Nawaz Sharif being summoned for appearance before the Panama‐gate JIT. KSE-100 index has reached 46,859 by decrease 2668 points or 5.39 %. While KSE -30 index reached on 24,317 by decreasing 1525 points or 5.90%.

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


  • KSE100 Index at its lowest since December 2016. The concluding week took the market with bare hands, as benchmark-100 index tumbled a whopping 2,668 points within just a week’s time
  • After a week of strong foreign portfolio inflows of US$14.1mn, foreigners chose to stay on the sidelines during the outgoing weak with net selling of US$9.5mn
  • According to Pakistan Bureau of Statistics (PBS); LSM grew 9.7% in Apr’17, while 10MFY17 growth was 5.6%. Major contributors in April included: Iron & Steel (5.3% weight) up 53%; Food, Beverages & Tobacco (weight of 12.3%) up 34%
  • According to State Bank of Pakistan (SBP); As per SME review, financing of banks and DFIs stood at Rs401bn as on December 31s, 2016, an increase of Rs96bn or 32%. The number of SME borrowers reached 177,595 recording an increase of 12%. NPLs against SME financing improved to 20% in Dec 2016 vs. 25% in Dec 2015 
  • PTCL, Ufone merger in final stages: sources: The merger of Pakistan Telecommunication Company (PTC) & its cellular arm Ufone, which operates as a separate company, has entered final stages & the company is likely to make a formal announcement in the first week of July, independent sources have confirmed to Profit. “As a matter of principle, PTCL does not comment on market rumors,” company’s spokesperson told Profit. The telecom regulator, too, said there was nothing official about this merger. However, at least three independent sources confirmed that the merger process, which is part of PTC’s ongoing restructuring, is almost complete & PTC is likely to make a formal announcement any time after Eid  
  • Byco to Restart Crude Refinery Two Years After Fire: Byco Industries Inc. is set to become Pakistan’s biggest fuel maker when it restarts an oil refinery next month that was shuttered almost two years ago after a fire
  • Shanghai Electric’s hide and seek regarding acquisition of KEL remained within headlines of the market, and resulting uncertainty took its toll on the stock as it settled 2.89% below last week’s close
  • The formal announcement of ‘Orange Cab Scheme’ comprising of 50,000 cars in pro-vincial budget for Punjab failed to fuel PSMC
  • Assets of the Islamic banking industry (IBI) rose 16 percent to $1.885 trillion in the first quarter (January-March) of 2017 due to increased financing to the private sector, the central bank’s bulletin on Islamic banking. The Islamic banking assets stood at Rs1.625 trillion in the corresponding period of last year
  • The Punjab Provincial Development Working Party (PPDWP) approved four development schemes of various sectors with an estimated cost of Rs 3338.841 million
  • The State Bank of Pakistan (SBP) has granted approval for the merger/amalgamation of NIB Bank Limited with and into MCB Bank Lim-ited
  • Cement prices have been increased by Rs10-20/bag across the North to pass-on the impact of increased Federal Excise Duty (FED) in FY18 budget


Following are few BUY recommendations:

Allied Bank Limited (ABL) – BUY 
Current Price: PKR 90.16
Target Price: PKR 132

Attock Cement (ACPL) – BUY 
Current Price: PKR 315.00
Target Price: PKR 380

Adamjee Insurance (AICL) – BUY 
Current Price: PKR 70.09
Target Price: PKR 92

Attock Petroleum (APL) – BUY 
Current Price: PKR 658.07
Target Price: PKR 796

Cherat Cement Company Limited (CHCC) – BUY 
Current Price: PKR 174.50
Target Price: PKR 251

Dera Ghazi Khan Cement (DGKC) – BUY 
Current Price: PKR 216.83
Target Price: PKR 270

ENGRO Fertilizer Limited (EFERT) – BUY 
Current Price: PKR 55.38
Target Price: PKR 83

ENGRO Foods (EFOODS) – BUY 
Current Price: PKR 131.79
Target Price: PKR 225

ENGRO Corporations (ENGRO) – BUY 
Current Price: PKR 334.93
Target Price: PKR 400

Fatima Fertilizer (FATIMA) – BUY 
Current Price: PKR 32.0
Target Price: PKR 45.1

Fauji Cement Company Limited (FCCL) – BUY 
Current Price: PKR 43.34
Target Price: PKR 54

Fauji Fert Bin Qasim (FFBL) – BUY 
Current Price: PKR 41.82
Target Price: PKR 67

Fauji Fertilizer Company (FFC) – BUY 
Current Price: PKR 86.93
Target Price: PKR 122.0

Gharibwal Cement Ltd (GWLC) – BUY 
Current Price: PKR 49.8
Target Price: PKR 104.0

Habib Bank Limited (HBL) – BUY 
Current Price: PKR 259.8
Target Price: PKR 334

Hascol Petroleum (HASCOL) – BUY 
Current Price: PKR 349.21
Target Price: PKR 428

Hi-Tech Lubricants (HTL) – BUY 
Current Price: PKR 110.82
Target Price: PKR 133

HUBCO (HUBC) – BUY 
Current Price: PKR 116.32
Target Price: PKR 144

Indus Motors (INDU) – BUY 
Current Price: PKR 1,957.52
Target Price: PKR 2,316

K-Electric (KEL) – BUY
Current Price: PKR 7.1
Target Price: PKR 13

Kohat Cement (KOHC) – BUY
Current Price: PKR 236.07
Target Price: PKR 353

Lalpir Power (LPL) – BUY 
Current Price: PKR 19.13
Target Price: PKR 32

Lucky Cement (LUCK) – BUY 
Current Price: PKR 825.79
Target Price: PKR 1,046

Maple Leaf Cement (MLCF) – BUY 
Current Price: PKR 109.50
Target Price: PKR 154.0

Millat Tractors Ltd. (MTL) – BUY 
Current Price: PKR 1,395.1
Target Price: PKR 1,594.8

National Bank of Pakistan (NBP) – BUY 
Current Price: PKR 63.21
Target Price: PKR 74

National Foods (NATF) – BUY 
Current Price: PKR 300.20
Target Price: PKR 473

Nishat Chunian (NCL) – BUY 
Current Price: PKR 52.32
Target Price: PKR 74

Nishat Chunian Power (NCPL) – BUY 
Current Price: PKR 42.75
Target Price: PKR 59

Nishat Mills (NML) – BUY 
Current Price: PKR 146.17
Target Price: PKR 186

Nishat Power (NPL) – BUY 
Current Price: PKR 45.00
Target Price: PKR 81

Oil & Gas Development Co. (OGDC) – BUY 
Current Price: PKR 140.78
Target Price: PKR 200

Pak Elektron Ltd. (PAEL) – BUY 
Current Price: PKR 110.0
Target Price: PKR 126.1

Pioneer Cement Limited (PIOC) – BUY 
Current Price: PKR 134.98
Target Price: PKR 161

Pakgen Power (PKGP) – BUY 
Current Price: PKR 19.30
Target Price: PKR 34

Pakistan Oilfields Limited (POL) – BUY 
Current Price: PKR 466.51
Target Price: PKR 518

Power Cement (POWER) – BUY 
Current Price: PKR 13.29
Target Price: PKR 26

Pakistan Petroleum Limited (PPL) – BUY 
Current Price: PKR 151.1
Target Price: PKR 218

Pakistan State Oil (PSO) – BUY 
Current Price: PKR 395.89
Target Price: PKR 490

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

The Searle Co. Ltd (SEARL) – BUY 
Current Price: PKR 572.1
Target Price: PKR 776.3

United Bank Limited (UBL) – BUY 
Current Price: PKR 222.02
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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