Pakistan Stock Exchange (PSX) Weekly Analysis 30 July, 2017

BUY recommendations are ABL, ACPL, AICL, APL, BAFL, CHCC, DGKC, EFERT, EFOODS, ENGRO, FATIMA, FCCL, FFBL, FFC, GWLC, HASCOL, HBL, 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, and UBL.

Top gainers of last week were: NESTLE, PICT, ISL, GLAXO, NPL, TRG, NRL, JGICL, FML and EFOODS.

Top losers of last week were: IBFL, PSMC, LUCK, JDWS, POML, CJPL, HCAR, KOHC, BWCL and KTML.

Top Volume Leaders of last week: TRG, BOP, SSGC, KEL, SNGP, PAEL, ISL, FCCL, DGKC, ENGRO and EFERT.

The Pakistan Stock Exchange (PSX) market index sees end to uncertainty as Supreme Court disqualifies PM. KSE-100 index has reached 45,912 by gaining 618 points or 1.36 %. While KSE -30 index reached on 23,854 by increasing 214 points or 0.91 %.

Average trading volumes increased from 135mn shares to 198mn shares (48%WoW). Activity was focused in retail favorite stocks, which included ANL (86.6mn), TRG (75.8mn), BOP (53.6mn), SSGC (51.2mn) and EPCL (51.0mn).  Foreigners (USD13.16mn) and Mutual Funds (USD28.2mn) were net sellers during the week, while Individual (USD 23.8 mn) were net buyers.

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


  • The State Bank of Pakistan (SBP) kept the policy rate unchanged at 5.75 per cent on Saturday for another couple of months, citing less-than-targeted inflation, higher domestic demand and the expectation of the overall balance of payments (BoP) staying at a manageable level in 2017-18
  • Passing through a rough patch marred by political stressors, unveiling of the Supreme Court decision on the Panama papers inquiry and a spate of largely unsatisfactory results releases, the KSE‐100 index held onto gains, closing the week at 45,912pts, up 1.4%WoW
  • Pakistan's foreign exchange reserves falling to US$20.4bn down 1.89%WoW during the week
  • ENGRO's Thar coal‐fired power project likely to start commercial operations by Jun' 2019, about four months ahead of its official deadline
  • NEPRA scaling down the tariff for electricity supply from the new Thar coal‐fired plants by 18.51% because of falling production costs
  • Indus Motor Company (INDU) has increased the prices of its flagship Toyota Corolla variants by Rs105,000 to Rs160,000 to account for improvements made in terms of aesthetics and safety measures
  • Urea off-take rose 79% YoY to 1.06mn tons in Jun-17, while was up 103% MoM as per data provided by the National Fertilizer Development Centre
  • Security Papers Limited (SEPL) furnished FY17 financial result, reporting EPS of Rs15.82, up 49% YoY. Along with the result, SEPL declared final cash dividend of Rs8/sh
  • OGDC may go for buying foreign assets worth over $500 million
  • 20,400 Honda Civic units sold in one year
  • The Board of Directors of Packages Limited has resolved to purchase 35 percent shares held by Stora Enso in Bulleh Packaging (Private) Limited at a price of up to $8 million equivalent to Rs 850 million approximately subject to exchange variation on payment date subject to certain adjustments
  • The result season gathered pace as notable automobile players (HCAR & PSMC) declared better than expected earnings, while results in banking and fertilizer (UBL & FFBL) names fell short of market estimates

Following are few BUY recommendations:

Allied Bank Limited (ABL) – BUY 
Current Price: PKR 91.75
Target Price: PKR 132

Attock Cement (ACPL) – BUY 
Current Price: PKR 270.73
Target Price: PKR 380

Adamjee Insurance (AICL) – BUY 
Current Price: PKR 71.55
Target Price: PKR 92

Attock Petroleum (APL) – BUY 
Current Price: PKR 661.44
Target Price: PKR 796

Bank Al-Falah (BAFL) – BUY 
Current Price: PKR 40.2
Target Price: PKR 47

Cherat Cement Company Limited (CHCC) – BUY 
Current Price: PKR 159.8
Target Price: PKR 251

Dera Ghazi Khan Cement (DGKC) – BUY 
Current Price: PKR 189.4
Target Price: PKR 262.0

ENGRO Fertilizer Limited (EFERT) – BUY 
Current Price: PKR 57.1
Target Price: PKR 83

ENGRO Foods (EFOODS) – BUY 
Current Price: PKR 122.71
Target Price: PKR 162

ENGRO Corporations (ENGRO) – BUY 
Current Price: PKR 317.48
Target Price: PKR 400

Fatima Fertilizer (FATIMA) – BUY 
Current Price: PKR 32.3
Target Price: PKR 45.1

Fauji Cement Company Limited (FCCL) – BUY 
Current Price: PKR 40.1
Target Price: PKR 54

Fauji Fert Bin Qasim (FFBL) – BUY 
Current Price: PKR 36.82
Target Price: PKR 67

Fauji Fertilizer Company (FFC) – BUY 
Current Price: PKR 84.1
Target Price: PKR 122.0

Gharibwal Cement Ltd (GWLC) – BUY 
Current Price: PKR 45.3
Target Price: PKR 104.0

Hascol Petroleum (HASCOL) – BUY 
Current Price: PKR 342.5
Target Price: PKR 428

Habib Bank Limited (HBL) – BUY 
Current Price: PKR 248.7
Target Price: PKR 334

Honda Atlas Cars (Pak) Ltd. (HCAR) – BUY 
Current Price: PKR 650.9
Target Price: PKR 912.2

Hi-Tech Lubricants (HTL) – BUY 
Current Price: PKR 109.69
Target Price: PKR 133

HUBCO (HUBC) – BUY 
Current Price: PKR 121.82
Target Price: PKR 144

Indus Motors (INDU) – BUY 
Current Price: PKR 1,797.57
Target Price: PKR 2,214.3

K-Electric Ltd. (KEL) – BUY
Current Price: PKR 6.6
Target Price: PKR 10.8

Kohat Cement (KOHC) – BUY
Current Price: PKR 195.15
Target Price: PKR 353

Lalpir Power (LPL) – BUY 
Current Price: PKR 20.26
Target Price: PKR 32

Lucky Cement (LUCK) – BUY 
Current Price: PKR 711.4
Target Price: PKR 1,159.0

MARI Petroleum (MARI) – BUY 
Current Price: PKR 1,696.6
Target Price: PKR 2051

Muslim Commercial Bank (MCB) – BUY 
Current Price: PKR 207.5
Target Price: PKR 250

Maple Leaf Cement (MLCF) – BUY 
Current Price: PKR 113.1
Target Price: PKR 179.0

Millat Tractors Ltd. (MTL) – BUY 
Current Price: PKR 1,351.7
Target Price: PKR 1,594.8

National Bank of Pakistan (NBP) – BUY 
Current Price: PKR 61.1
Target Price: PKR 74

National Foods (NATF) – BUY 
Current Price: PKR 303.87
Target Price: PKR 473

Nishat Chunian (NCL) – BUY 
Current Price: PKR 49.91
Target Price: PKR 74

Nishat Chunian Power (NCPL) – BUY 
Current Price: PKR 43.47
Target Price: PKR 59

Nishat Mills (NML) – BUY 
Current Price: PKR 162.32
Target Price: PKR 186

Nishat Power (NPL) – BUY 
Current Price: PKR 47.85
Target Price: PKR 81

Oil & Gas Development Co. (OGDC) – BUY 
Current Price: PKR 153.50
Target Price: PKR 200

Pak Elektron Ltd. (PAEL) – BUY 
Current Price: PKR 102.2
Target Price: PKR 126.1

Pioneer Cement Limited (PIOC) – BUY 
Current Price: PKR 118.1
Target Price: PKR 161

Pakgen Power (PKGP) – BUY 
Current Price: PKR 20.77
Target Price: PKR 34

Pakistan Oilfields Limited (POL) – BUY 
Current Price: PKR 482.63
Target Price: PKR 518

Power Cement (POWER) – BUY 
Current Price: PKR 12.03
Target Price: PKR 26

Pakistan Petroleum Limited (PPL) – BUY 
Current Price: PKR 180.1
Target Price: PKR 218

Pak Suzuki Motors (PSMC) – BUY 
Current Price: PKR 608.8
Target Price: PKR 800.7

Pakistan State Oil (PSO) – BUY 
Current Price: PKR 389.2
Target Price: PKR 490

Pakistan Telecommunications (PTC) – BUY 
Current Price: PKR 14.1
Target Price: PKR 21.9

Roshan Packages Ltd. (RPL) – BUY 
Current Price: PKR 59.2
Target Price: PKR 87.0

The Searle Co. Ltd (SEARL) – BUY 
Current Price: PKR 488.1
Target Price: PKR 776.3

United Bank Limited (UBL) – BUY 
Current Price: PKR 209.8
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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