Pakistan Stock Exchange (PSX) Weekly Analysis 30 April, 2018

BUY recommendations are:  ABL, ACPL, APL, ASTL, CHCC, DGKC, ENGRO, EFERT, FATIMA, FCCL, FFBL, GWLC, GTYR, HBL, HCAR, HMB, HTL, HUBC, INDU, KOHC, LPL, LUCK, MARI, MCB, MLCF, NATF, NBP, NCL, NCPL, NPL, OGDC, PIOC, PKGP, POWER, PPL, PSMC, PSO, and UBL.

Top gainers of last week were: BOP, HASCOL, UNITY, FFBL, PSEL, IBFL, OLPL, PAKT, FATIMA and PSO.

Top losers of last week were: BATA, CSAP, PIOC, PAEL, COLG, PKGS, ASTL, FML, BWCL and MLCF.

Top Volume Leaders of last week: UNITY, EPCL, PAEL, BOP, KEL, FCCL, SSGC, TRG, FATIMA, and DGKC.

The Pakistan Stock Exchange (PSX) market index remained listless for most of the outgoing week as investors awaited the upcoming budget. KSE-100 index has closed on 45,542 by gaining 283 points or 0.6%.

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

  • GIDC removal/reduction beneficiaries again gained attention of investors where, Fauji Fertilizer Company (FFC) gained 4% on last day of the week, followed by Fauji Fertilizer Bin Qasim (FFBL) +4%, and Lotte Chemicals (LOTCHEM) +2%. Resultantly, market managed to close positive, gaining 255 points (+0.6%) during the whole week, closing at 45,543 index level
  • Oil marketing sector stocks cumulatively contributed 123 points to the index, where HASCOL gained 20% in the outgoing week amid its better financial results, while PSO and SHEL gained 6% and 3%, respectively. Moreover, commercial banks and fertilizers contributed 86 and 70 points respectively 
  • Market participation in terms of volume and value rose by 9% and 8% respectively
  • Foreigners were net seller during the week amounting to US$2.8mn vs. net selling of US$41.8mn last week. On the other hand, amongst local investors Mutual Funds were net sellers of US$4mn whereas companies were net buyers of US$4.7mn
  • Fatima Fertilizer (FATIMA) announced its financial results for 1Q2018, where company reported EPS of Rs1.37, up by 27% YoY. Earnings improved due to increase in GP margins by 5ppts YoY to 60%
  • Systems Limited (SYS) announced its financial results for 1Q2018, where company reported EPS of Rs1.84, up by 52% YoY due to increase in net revenues by 18% YoY and other income by 14.5x YoY
  • AGP Limited (AGP) announced its financial results, where company recorded earnings of Rs392mn, up by 18% YoY due to increase in net sales by 33% YoY. Moreover, company also declared DPS of Rs1.25
  • Pakistan Refinery (PRL) announced its financial results for 3QFY18, where company reported EPS of Rs1.78, up by 46% YoY due to increase in other income by 28x YoY Rs997mn
  • Nishat Mills (NML) announced its financial results for 2QFY18, where company reported EPS of Rs2.17, down by 57% YoY. Earnings were down owing to trimmed GP margins of 15% vs. 17% during last year and higher effective tax rate of 27% vs. 0.7% similar period of last year
  • BOP’s positive earnings surprise lifted the stock to two consecutive upper circuits helping it gather sizeable volumes, while other retail darlings such as UNITY and KEL also featured amongst the top volume leaders
  • Cement giant LUCK unveiled its plans for a brown-field expansion at its Pezu plant in the North to the tune of 2.6MT and also an addition of 1.2MT clinker capacity in its Iraq operations. The company’s lesser than expected result on account of dwindling gross margins soured sentiments


Following are few BUY recommendations:

Allied Bank Limited (ABL) – BUY 
Current Price: PKR 102.51
Target Price: PKR 122

Attock Cement (ACPL) – BUY 
Current Price: PKR 178.37
Target Price: PKR 261

Adamjee Insurance (AICL) – BUY 
Current Price: PKR 56.74
Target Price: PKR 83

Attock Petroleum (APL) – BUY 
Current Price: PKR 632
Target Price: PKR 745.14

Amreli Steels Limited (ASTL) – BUY 
Current Price: PKR 81.94
Target Price: PKR 128

Cherat Cement (CHCC) – BUY 
Current Price: PKR 125.20
Target Price: PKR 153

Dera Ghazi Khan Cement (DGKC) – BUY 
Current Price: PKR 140.82   
Target Price: PKR 194

ENGRO Corporation (ENGRO) – BUY 
Current Price: PKR 316.92
Target Price: PKR 348.84

ENGRO Fertilizer Limited (EFERT) – BUY 
Current Price: PKR 72.53
Target Price: PKR 79.94

Fatima Fertilizer (FATIMA) – BUY 
Current Price: PKR 33.83
Target Price: PKR 45.1

Fauji Cement Company Limited (FCCL) – BUY 
Current Price: PKR 27.68   
Target Price: PKR 39

Fauji Fert. Bin Qasim Limited (FFBL) – BUY 
Current Price: PKR 43.92
Target Price: PKR 48.10

Gharibwal Cement Ltd (GWLC) – BUY 
Current Price: PKR 25.21
Target Price: PKR 58

General Tyre & Rubber (GTYR) – BUY 
Current Price: PKR 179.44
Target Price: PKR 231

Habib Bank Limited (HBL) – BUY 
Current Price: PKR 196.50
Target Price: PKR 248

Honda Cars (HCAR) – BUY 
Current Price: PKR 479
Target Price: PKR 707

Habib Metro (HMB) – BUY 
Current Price: PKR 47.25
Target Price: PKR 50

Hi-Tech Lubricant (HTL) – BUY 
Current Price: PKR 97.87
Target Price: PKR 116

HUBCO (HUBC) – BUY 
Current Price: PKR 102.40
Target Price: PKR 138.7

Indus Motors (INDU) – BUY 
Current Price: PKR 1,888   
Target Price: PKR 2,069

Kohat Cement (KOHC) – BUY
Current Price: PKR 150.55
Target Price: PKR 248

Lalpir Power (LPL) – BUY 
Current Price: PKR 20.51
Target Price: PKR 30

Lucky Cement (LUCK) – BUY 
Current Price: PKR 651.64
Target Price: PKR 827

MARI Petroleum (MARI) – BUY 
Current Price: PKR 1,516
Target Price: PKR 2,040

Muslim Commercial Bank (MCB) – BUY 
Current Price: PKR  210.76
Target Price: PKR 252

Maple Leaf Cement (MLCF) – BUY 
Current Price: PKR 69.67
Target Price: PKR 107

National Foods (NATF) – BUY 
Current Price: PKR 345
Target Price: PKR 413

National Bank of Pakistan (NBP) – BUY 
Current Price: PKR 50.80
Target Price: PKR 74

Nishat Chunian (NCL) – BUY 
Current Price: PKR 53.60
Target Price: PKR 69

Nishat Chunian Power (NCPL) – BUY 
Current Price: PKR 28.87
Target Price: PKR 50

Nishat Power (NPL) – BUY 
Current Price: PKR 31.74
Target Price: PKR 51

Oil & Gas Development Co. (OGDC) – BUY 
Current Price: PKR 168.27
Target Price: PKR 193

Pioneer Cement Limited (PIOC) – BUY 
Current Price: PKR 63.62
Target Price: PKR 109

Pakgen Power (PKGP) – BUY 
Current Price: PKR 20.30
Target Price: PKR 34

Power Cement (POWER) – BUY 
Current Price: PKR 9.75
Target Price: PKR 16

Pakistan Petroleum (PPL) – BUY 
Current Price: PKR 214.68
Target Price: PKR 239

Pak Suzuki Motors (PSMC) – BUY 
Current Price: PKR 484.74
Target Price: PKR 620

Pakistan State Oil (PSO) – BUY 
Current Price: PKR 341.14
Target Price: PKR 392

United Bank Limited (UBL) – BUY 
Current Price: PKR 199.84
Target Price: PKR 238

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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