Pakistan Stock Exchange (PSX) Weekly Analysis 27 Nov, 2017

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

Top gainers of last week were: PAKT, KEL, GHGL, JLICL, CPPL, INIL, JDWS, PMPK, FFBL, and EFUG.

Top losers of last week were: NESTLE, NPL, NCPL, BNWM, BATA, IBFL, SHEL, ATRL, PSO, and JSCL.

Top Volume Leaders of last week: KEL, TRG, PAEL, SSGC, BOP, ATRL, OGDC, ENGRO, SNGP, and ISL.

The Pakistan Stock Exchange (PSX) market index decline by 596pts/1.5% on the back of pressure in the Energy Chain (‐208pts: OMC ‐ 98pts, Power ‐62pts, Refinery ‐32pts, E&Ps ‐16pts) where Government’s current management & future plans for ‘optimal’ fuel mix for the country’s power generation had suboptimal implications on investor sentiments. KSE-100 index has closed on 40,248 by losing 596 points or -1.46 %. While KSE-30 index has closed on 20,330 by decreasing 333 points or -1.61%.

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


  • Oil Refineries, Oil Marketing Companies (OMCs) and Independent Power Producers (IPPs) stocks plummeted during the week owing to recent news flow regarding plans of imposing ban on Furnace Oil (FO) imports and shutting down FO based power generation, with the latter resulting in pileup of FO inventories in the system
  • K-Electric (KEL) rallied 12%WoW owing to news regarding its acquisition by Shanghai Electric and National Electric Power Regulatory Authority(NEPRA) reconsideration of KEL's Multi-Year Tariff (MYT)
  • Foreigners/Mutual Funds/Brokers remained net sellers as they offloaded shares worth USD6.3mn/USD3.5mn/USD3.5mn during the week. Companies/Other Organizations/Banks absorbed the major selling with net buying of USD3.9mn/USD3.5mn/USD2.7mn
  • JCC approving long-term plan of CPEC with special focus on SEZs while feasibility studies of Gwadar airport were shared with the Chinese members
  • Accountability court declaring Ishaq Dar an absconder, while the govt. allowed him leave of absence for an indefinite time period
  • PM Abbasi performing ground breaking/inauguration of PkR18bn East Bay Expressway in Gwadar and the newly built LNG terminal
  • The Prime Minister finally accepted Finance Minister’s ‘leave for absence’ due to his ill-health, while sit-in in the capital etc. continued to create an environment of instability
  • The political scene remained heated throughout the week with the spiraling scuffle between the GoP and religious groups gathered in the capital city demanding resig-nation of a federal minister. The situation further worsened with the removal of Ishaq Dar (ex-finance minister) from office, aggravating the investors’ woes
  • After sus-pending talks with Ghandhara Nissan Ltd (GNL) last week, French automaker Renault is making another attempt to assemble and distribute its vehicles in Pakistan in partnership with Al Futtaim, a Gulf-based business house. Groupe Renault and Al-Futtaim have signed definitive agreements to assemble vehicles in a new plant in Karachi, a statement said on Monday
  • Amreli Steels, Pakistan’s leading manufacturer of reinforcement bars, planned a joint venture with a Chinese company to produce and sell electrical transmission equipment in the country seeing a raft of new power projects on their way to meet growing energy demand


Following are few BUY recommendations:

Allied Bank Limited (ABL) – BUY 
Current Price: PKR 80.0
Target Price: PKR 90

Attock Cement (ACPL) – BUY 
Current Price: PKR 172.1
Target Price: PKR 261

Adamjee Insurance (AICL) – BUY 
Current Price: PKR 52.25
Target Price: PKR 83

Attock Petroleum (APL) – BUY 
Current Price: PKR 578.2
Target Price: PKR 729

Amreli Steels Limited (ASTL) – BUY 
Current Price: PKR 93.3
Target Price: PKR 128

Bank Al-Falah (BAFL) – BUY 
Current Price: PKR 40.8
Target Price: PKR 50

Bank Al-Habib (BAHL) – BUY 
Current Price: PKR 56.5
Target Price: PKR 72

Cherat Cement Company Limited (CHCC) – BUY 
Current Price: PKR 97.3
Target Price: PKR 140

Dera Ghazi Khan Cement (DGKC) – BUY 
Current Price: PKR 134.8
Target Price: PKR 201

ENGRO Corporations (ENGRO) – BUY 
Current Price: PKR 260
Target Price: PKR 359

Fatima Fertilizer (FATIMA) – BUY 
Current Price: PKR 30.50
Target Price: PKR 45.1

Fauji Cement Company Limited (FCCL) – BUY 
Current Price: PKR 27.6
Target Price: PKR 36

Fauji Fert Bin Qasim (FFBL) – BUY 
Current Price: PKR 35.43
Target Price: PKR 50

Fauji Fertilizer Company (FFC) – BUY 
Current Price: PKR 82.5
Target Price: PKR 97

Gharibwal Cement Ltd. (GWLC) – BUY 
Current Price: PKR 23.50
Target Price: PKR 58

Hascol Petroleum (HASCOL) – BUY 
Current Price: PKR 278   
Target Price: PKR 369

Habib Bank Limited (HBL) – BUY 
Current Price: PKR 164.8
Target Price: PKR 248

Honda Atlas Cars (Pak) Ltd. (HCAR) – BUY 
Current Price: PKR 544.5
Target Price: PKR 707

Habib Metro Bank (HMB) – BUY 
Current Price: PKR 33.75
Target Price: PKR 50

Hi-Tech Lubricants (HTL) – BUY 
Current Price: PKR 75.81 
Target Price: PKR 133

HUBCO (HUBC) – BUY 
Current Price: PKR 101.8
Target Price: PKR 138.7

Indus Motors (INDU) – BUY 
Current Price: PKR 1,720
Target Price: PKR 2,218

Kot Addu Power Company (KAPCO) – BUY
Current Price: PKR 61.99   
Target Price: PKR 85.00

Kohat Cement (KOHC) – BUY
Current Price: PKR 138.3
Target Price: PKR 248

Lalpir Power (LPL) – BUY 
Current Price: PKR 22.30
Target Price: PKR 30

Lucky Cement (LUCK) – BUY 
Current Price: PKR 509.6
Target Price: PKR 785

MARI Petroleum (MARI) – BUY 
Current Price: PKR 1,530
Target Price: PKR 2,051

Muslim Commercial Bank (MCB) – BUY 
Current Price: PKR 204.8
Target Price: PKR 230

Maple Leaf Cement (MLCF) – BUY 
Current Price: PKR 71.1
Target Price: PKR 107

National Bank of Pakistan (NBP) – BUY 
Current Price: PKR 43.61
Target Price: PKR 74

National Foods (NATF) – BUY 
Current Price: PKR 306
Target Price: PKR 395

Nishat Chunian (NCL) – BUY 
Current Price: PKR 46.42
Target Price: PKR 53

Nishat Chunian Power (NCPL) – BUY 
Current Price: PKR 31.3
Target Price: PKR 47

Nishat Mills (NML) – BUY 
Current Price: PKR 140.45
Target Price: PKR 169

Nishat Power (NPL) – BUY 
Current Price: PKR 33.9
Target Price: PKR 46.9

Oil & Gas Development Co. (OGDC) – BUY 
Current Price: PKR 157.9
Target Price: PKR 175

Pak Elektron Ltd. (PAEL) – BUY 
Current Price: PKR 54.5
Target Price: PKR 88

Pioneer Cement Limited (PIOC) – BUY 
Current Price: PKR 62.5
Target Price: PKR 109

Pakgen Power Limited (PKGP) – BUY 
Current Price: PKR 22.84
Target Price: PKR 34

Pakistan Oilfields (POL) – BUY 
Current Price: PKR 616.11
Target Price: PKR 683

Power Cement (POWER) – BUY 
Current Price: PKR 8.32
Target Price: PKR 16

Pak Suzuki Motors (PSMC) – BUY 
Current Price: PKR 509.98
Target Price: PKR 620

Pakistan State Oil (PSO) – BUY 
Current Price: PKR 317.2
Target Price: PKR 392

Pakistan Telecommunication (PTC) – BUY 
Current Price: PKR 12.57
Target Price: PKR 19.00

Tariq Glass (TGL) – BUY 
Current Price: PKR 100.7
Target Price: PKR 128

United Bank Limited (UBL) – BUY 
Current Price: PKR 167.1
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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