Pakistan Stock Exchange (PSX) Weekly Analysis 12 Nov, 2017

BUY recommendations are:  ABL, ACPL, AICL, AKBL, APL, ASTL, BAFL, BAHL, CHCC, DGKC, EFERT, ENGRO, EPCL, FATIMA, FCCL, FFBL, FFC, GWLC, HBL, HASCOL, HCAR, HMB, HTL, HUBC, INDU, KOHC, LOTCHEM, LPL, LUCK, MARI, MCB, MLCF, MTL, NBP, NATF, NCL, NCPL, NML, NPL, OGDC, PAEL, PIOC, PKGP, POWER, PSMC, PSO, PTC, RPL, SEARL, UBL.

Top gainers of last week were: PKGP, LPL, HASCOL, NPL, NML, PSMC, EFOODS, MLCF, GTYR, and MEBL.

Top Volume Leaders of last week: JPGL, SSGC, ANL, SNGP, TRG.

The Pakistan Stock Exchange (PSX) market index witnessed some recovery during the outgoing week with KSE-100 index inching up by 0.9% WoW to close at 41,436pts. KSE-100 index has closed on 41,436 by losing 372 points or 0.91 %. While KSE-30 index has closed on 21,103 by increasing 163 points or 0.78%.

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


  • OGRA has proposed the floating of bids for building a 430km long oil pipeline from Sheikhupura to Peshawar
  • ENGRO is planning to establish its second LNG terminal of 600mmcfd, expected to become operational by early 2019 with consortium partners Shell exploration BV, Fatima Group, and Swiss based Gunvor Group
  • According to the Cement industry association spokesman, the domestic manufacturers witnessed highest ever capacity utilization of 93% in 1QFY18\\
  • WB raised alarms for Pakistan's economy and predicted that the inflation number for the FY18‐19 would rise up to 6%
  • As per recent data released by SBP, country's total foreign exchange reserves surged 0.35%WoW (US$69mn) to US$19.91bn during the last week ended Nov 03'17
  • Most of the pullback can be attributed to buying by mutual funds post relaxation of cash holding rules and value buying at cheap multiples
  • Mutual Funds during the week bought US$17.2mn worth of equities, whereas Banks (net selling of US$6.6mn) and Individuals (net selling of US$3.2mn) continued to offload their positions 
  • World Bank shared projecting GDP growth at 5.5% for FY18 and inflation at 6.0% YoY
  • construction of 430km Lahore-Peshawar oil pipeline
  • 27.9% YoY increase in Oct-2017 remittances
  • Release of cement dispatches numbers (+19.7% YoY to 4.22mn tons in Oct-17)
  • Power Division seeking tariff revision for K-Electric
  • ENGRO eyeing 2019 start for new LNG terminal in Karachi
  • All Pakistan Cement Manufacturers Association (APCMA) released data on cement dispatches for the month of Oct-2017, showing impressive growth of 19.7% YoY to 4.22mn tons

Following are few BUY recommendations:

Allied Bank Limited (ABL) – BUY 
Current Price: PKR 81.60
Target Price: PKR 124

Attock Cement (ACPL) – BUY 
Current Price: PKR 177.53   
Target Price: PKR 315

Adamjee Insurance (AICL) – BUY 
Current Price: PKR 58
Target Price: PKR 90

Askari Bank (AKBL) – BUY 
Current Price: PKR 18.65
Target Price: PKR 25

Attock Petroleum (APL) – BUY 
Current Price: PKR 610   
Target Price: PKR 729

Amreli Steels Limited (ASTL) – BUY 
Current Price: PKR 94.81
Target Price: PKR 128

Bank Al-Falah (BAFL) – BUY 
Current Price: PKR 40.50     
Target Price: PKR 50

Bank Al-Habib (BAHL) – BUY 
Current Price: PKR 56.55
Target Price: PKR 72

Cherat Cement Company Limited (CHCC) – BUY 
Current Price: PKR 105.48   
Target Price: PKR 140

Dera Ghazi Khan Cement (DGKC) – BUY 
Current Price: PKR 142.51   
Target Price: PKR 262.0

ENGRO Fertilizer Limited (EFERT) – BUY 
Current Price: PKR 66.7
Target Price: PKR 79

ENGRO Corporations (ENGRO) – BUY 
Current Price: PKR 288.0
Target Price: PKR 359

ENGRO Polymer & Chem (EPCL) – BUY 
Current Price: PKR 34.7
Target Price: PKR 44.9

Fatima Fertilizer (FATIMA) – BUY 
Current Price: PKR 31.60
Target Price: PKR 45.1

Fauji Cement Company Limited (FCCL) – BUY 
Current Price: PKR 28.96   
Target Price: PKR 54

Fauji Fert Bin Qasim (FFBL) – BUY 
Current Price: PKR 33.58
Target Price: PKR 51.1

Fauji Fertilizer Company (FFC) – BUY 
Current Price: PKR 82.5
Target Price: PKR 110

Gharibwal Cement Ltd. (GWLC) – BUY 
Current Price: PKR 23.69
Target Price: PKR 58

Habib Bank Limited (HBL) – BUY 
Current Price: PKR 167.98   
Target Price: PKR 248

Hascol Petroleum (HASCOL) – BUY 
Current Price: PKR 283.55   
Target Price: PKR 428

Honda Atlas Cars (Pak) Ltd. (HCAR) – BUY 
Current Price: PKR 580.7
Target Price: PKR 752

Habib Metro Bank (HMB) – BUY 
Current Price: PKR 33.00
Target Price: PKR 50

Hi-Tech Lubricants (HTL) – BUY 
Current Price: PKR 87.55 
Target Price: PKR 133

HUBCO (HUBC) – BUY 
Current Price: PKR 106.01
Target Price: PKR 138.7

Indus Motors (INDU) – BUY 
Current Price: PKR 1,754   
Target Price: PKR 2,214.3

Kot Addu Power Company (KAPCO) – BUY
Current Price: PKR 67.53 
Target Price: PKR 85.00

Kohat Cement (KOHC) – BUY
Current Price: PKR 146.55
Target Price: PKR 353

Lalpir Power (LPL) – BUY 
Current Price: PKR 21.20
Target Price: PKR 32

Lotte Chemical Pak Ltd. (LOTCHEM) – BUY 
Current Price: PKR 6.7 
Target Price: PKR 10.2

Lucky Cement (LUCK) – BUY 
Current Price: PKR 514.83 
Target Price: PKR 1,159.0

MARI Petroleum (MARI) – BUY 
Current Price: PKR 1,597.2
Target Price: PKR 2,051

Muslim Commercial Bank (MCB) – BUY 
Current Price: PKR 210.08
Target Price: PKR 244

Maple Leaf Cement (MLCF) – BUY 
Current Price: PKR 71.97   
Target Price: PKR 107

Millat Tractors Ltd. (MTL) – BUY 
Current Price: PKR 1,208.1   
Target Price: PKR 1,675.3

National Bank of Pakistan (NBP) – BUY 
Current Price: PKR 45.87
Target Price: PKR 74

National Foods (NATF) – BUY 
Current Price: PKR 305
Target Price: PKR 473

Nishat Chunian (NCL) – BUY 
Current Price: PKR 46.60
Target Price: PKR 53.8

Nishat Chunian Power (NCPL) – BUY 
Current Price: PKR 36.4 
Target Price: PKR 51.7

Nishat Mills (NML) – BUY 
Current Price: PKR 145.76
Target Price: PKR 186

Nishat Power (NPL) – BUY 
Current Price: PKR 43.9
Target Price: PKR 46.9

Oil & Gas Development Co. (OGDC) – BUY 
Current Price: PKR 159.5   
Target Price: PKR 182

Pak Elektron Ltd. (PAEL) – BUY 
Current Price: PKR 58.2
Target Price: PKR 126.1

Pioneer Cement Limited (PIOC) – BUY 
Current Price: PKR 63.65
Target Price: PKR 109

Pakgen Power Limited (PKGP) – BUY 
Current Price: PKR 21.49
Target Price: PKR 34

Power Cement (POWER) – BUY 
Current Price: PKR 8.48
Target Price: PKR 16

Pak Suzuki Motors (PSMC) – BUY 
Current Price: PKR 544.49
Target Price: PKR 800.7

Pakistan State Oil (PSO) – BUY 
Current Price: PKR 355.1   
Target Price: PKR 392

Pakistan Telecommunication (PTC) – BUY 
Current Price: PKR 12.98
Target Price: PKR 19.00

Roshan Packages Ltd. (RPL) – BUY 
Current Price: PKR 44.7
Target Price: PKR 87.0

The Searle Co. Ltd. (SEARL) – BUY 
Current Price: PKR 344.4
Target Price: PKR 505.0

United Bank Limited (UBL) – BUY 
Current Price: PKR 176.94
Target Price: PKR 250

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. The information given in this blog /forum (http://www.karachistockexchange.org/) is as of the date of this post and there can be no assurance that future results or events will be consistent with this information. This post is provided for assistance only and is not intended to be and must not alone be taken as the basis for any investment decision. The user assumes the entire risk of any use made of this information. Each viewer of this post should make such investigation as it deems necessary to arrive at an independent evaluation of an investment in the securities of companies referred to in this post (including the merits and risks involved), and should consult his or her own advisors to determine the merits and risks of such investment. This blog /forum (http://www.karachistockexchange.org/)  or any of its affiliates shall not be in any way responsible for any loss or damage that may be arise to any person from any inadvertent error in the information contained in this post.

Written by: Rana Khuram

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