Pakistan Stock Exchange (PSX) Weekly Analysis 10 July, 2017

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

Top gainers of last week were: PPL, PIBTL, SSGC, MLCF, HUBC, OGDC, Ibrahim Fibre Ltd.

Top losers of last week were: Honda Atlas Cars, PAEL, NRL, Crescent Jute Products Ltd., TRG.

Top Volume Leaders of last week: TRG, EPCL, BOP, KEL, ASL.

The Pakistan Stock Exchange (PSX) market index bears dominated the bourse during the week as spree of news pertaining to JIT continued to surface on a daily basis, where lack of clarity on the outcome of the investigation continued to keep investor sentiments weak. KSE-100 index has reached 45,222 by decrease -1343 points or -2.88 %. While KSE -30 index reached on 23,509 by decreasing -742 points or -3.06 %.

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


  • Record PkR depreciation of 3.2% in a single day built some impetus on intra‐day basis, but summoning of Sharif family members and the associate by the JIT added to the prevailing risk‐off sentiment
  • Political uncertainty is expected to remain top of the mind among investors during the upcoming week as July 10th is the stated deadline to submit JIT report to the SC
  • Government of Pakistan slashing retail fuel prices by PkR1.5/ltr for July’17
  • PACRA maintaining Bank Al Habib’s long‐term and short‐term en􀆟ty ratings at AA+ and AA
  • Ittefaq Steel’s (IIIL) trading initiating on the bourse
  • Fertilizer manufacturers resuming sales of urea after MoF and the ministry of food security gave an assurance to issue a subsidy notification within a few days
  • Long awaited operations of PIBTL finally commencing
  • Banking stocks led by HBL and UBL cumulatively dragged the benchmark index by 449pts. This has been primarily attributable to lower than expected inflation of 3.93% MoM in Jun’17 further delaying expected interest rate liftoff
  • Foreigners (-USD5.8mn) and Mutual Funds (-USD1.9mn) were net sellers during the week, while Companies (+USD2.7mn) and & Banks/DFIs (USD3.9mn) remained net buyers
  • Chinese investors likely interested in taking majority stake in PSX
  • ADB approves $335m loan for Peshawar’s urban transport system
  • Rupee falls sharply against dollar
  • Government appointed Mr. Tariq Bajwa as permanent governor State Bank of Pakistan and initiated investigation into the sudden and steep drop in exchange rate
  • Current account deficit revised up by $1.7bn 
  • June’17 Toyota Corolla number is expected to decline by 25-35% MoM as customers delay purchases in eagerness of the upcoming model facelift
  • Inbox Business Technologies Limited (IBTL) intends to issue 45.4mn ordinary shares (~39% of post-IPO outstanding shares) at a floor price of PKR 30/share

Following are few BUY recommendations:

Allied Bank Limited (ABL) – BUY 
Current Price: PKR 87.0
Target Price: PKR 132

Attock Cement (ACPL) – BUY 
Current Price: PKR 283.0
Target Price: PKR 380

Adamjee Insurance (AICL) – BUY 
Current Price: PKR 66.26
Target Price: PKR 92

Attock Petroleum (APL) – BUY 
Current Price: PKR 609.5
Target Price: PKR 796

Bank Al-Falah (BAFL) – BUY 
Current Price: PKR 39.5
Target Price: PKR 47

Cherat Cement Company Limited (CHCC) – BUY 
Current Price: PKR 170.0
Target Price: PKR 251

Dera Ghazi Khan Cement (DGKC) – BUY 
Current Price: PKR 207.4
Target Price: PKR 270

ENGRO Fertilizer Limited (EFERT) – BUY 
Current Price: PKR 53.4
Target Price: PKR 83

ENGRO Foods (EFOODS) – BUY 
Current Price: PKR 119.7
Target Price: PKR 162

ENGRO Corporations (ENGRO) – BUY 
Current Price: PKR 327.96
Target Price: PKR 400

Fatima Fertilizer (FATIMA) – BUY 
Current Price: PKR 31.9
Target Price: PKR 45.1

Fauji Cement Company Limited (FCCL) – BUY 
Current Price: PKR 40.3
Target Price: PKR 54

Fauji Fert Bin Qasim (FFBL) – BUY 
Current Price: PKR 38.84
Target Price: PKR 67

Fauji Fertilizer Company (FFC) – BUY 
Current Price: PKR 80.1
Target Price: PKR 122.0

Gharibwal Cement Ltd (GWLC) – BUY 
Current Price: PKR 42.6
Target Price: PKR 104.0

Habib Bank Limited (HBL) – BUY 
Current Price: PKR 250.4
Target Price: PKR 334

Hascol Petroleum (HASCOL) – BUY 
Current Price: PKR 337.70
Target Price: PKR 428

Honda Atlas Cars (Pak) (HCAR) – BUY 
Current Price: PKR 114.60
Target Price: PKR 133

Hi-Tech Lubricants (HTL) – BUY 
Current Price: PKR 114.60
Target Price: PKR 133

HUBCO (HUBC) – BUY 
Current Price: PKR 119.0
Target Price: PKR 144

Indus Motors (INDU) – BUY 
Current Price: PKR 1,685.8
Target Price: PKR 2,214.3

K-Electric (KEL) – BUY
Current Price: PKR 6.8
Target Price: PKR 13

Kohat Cement (KOHC) – BUY
Current Price: PKR 210.5
Target Price: PKR 353

Lalpir Power (LPL) – BUY 
Current Price: PKR 19.59
Target Price: PKR 32

Lucky Cement (LUCK) – BUY 
Current Price: PKR 753.3
Target Price: PKR 1,046

MARI Petroleum (MARI) – BUY 
Current Price: PKR 1,599.9
Target Price: PKR 2051

Muslim Commercial Bank (MCB) – BUY 
Current Price: PKR 205.0
Target Price: PKR 250

Maple Leaf Cement (MLCF) – BUY 
Current Price: PKR 114.2
Target Price: PKR 154.0

Millat Tractors Ltd. (MTL) – BUY 
Current Price: PKR 1,304.7
Target Price: PKR 1,594.8

National Bank of Pakistan (NBP) – BUY 
Current Price: PKR 59.1
Target Price: PKR 74

National Foods (NATF) – BUY 
Current Price: PKR 265.50
Target Price: PKR 473

Nishat Chunian (NCL) – BUY 
Current Price: PKR 52.00
Target Price: PKR 74

Nishat Chunian Power (NCPL) – BUY 
Current Price: PKR 43.0
Target Price: PKR 59

Nishat Mills (NML) – BUY 
Current Price: PKR 157.04
Target Price: PKR 186

Nishat Power (NPL) – BUY 
Current Price: PKR 46.0
Target Price: PKR 81

Oil & Gas Development Co. (OGDC) – BUY 
Current Price: PKR 142.5
Target Price: PKR 200

Pak Elektron Ltd. (PAEL) – BUY 
Current Price: PKR 96.0
Target Price: PKR 126.1

Pioneer Cement Limited (PIOC) – BUY 
Current Price: PKR 126.1
Target Price: PKR 161

Pakgen Power (PKGP) – BUY 
Current Price: PKR 20.14
Target Price: PKR 34

Pakistan Oilfields Limited (POL) – BUY 
Current Price: PKR 455.4
Target Price: PKR 518

Power Cement (POWER) – BUY 
Current Price: PKR 12.97
Target Price: PKR 26

Pakistan Petroleum Limited (PPL) – BUY 
Current Price: PKR 163.1
Target Price: PKR 218

Pakistan State Oil (PSO) – BUY 
Current Price: PKR 381.8
Target Price: PKR 490

Pakistan Telecommunications (PTC) – BUY 
Current Price: PKR 14.3
Target Price: PKR 21.9

Roshan Packages Ltd. (RPL) – BUY 
Current Price: PKR 497.0
Target Price: PKR 776.3

The Searle Co. Ltd (SEARL) – BUY 
Current Price: PKR 497.0
Target Price: PKR 776.3

Tariq Glass (TGL) – BUY 
Current Price: PKR 105.5
Target Price: PKR 128

United Bank Limited (UBL) – BUY 
Current Price: PKR 215.2
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

2 comments:

  1. AA, thanks for weekly update. Kindly can you please recheck RPL price. You have mistakenly pasted SEARL price

    ReplyDelete
  2. What are the timelines for target price of shares?

    ReplyDelete