Pakistan Stock Exchange (PSX) Weekly Analysis 20 May, 2019

BUY recommendations are:  ACPL, AKBL, APL, ASTL, BAHL, BAFL, BOP, CHCC, DGKC, EFERT, EFOODS, ENGRO, EPCL, FFBL, FCCL, GWLC, HASCOL, HBL, HUBCO, INDU, KAPCO, KOHC, LOTCHEM, LUCK, MARI, MCB, MEBL, MLCF, MTL, NBP, NCL, NCPL, NML, NPL, OGDC, PAEL, PIOC, POL, PPL, PSO, SNGP, and UBL.

Top gainers of last week were:  PPL, HUBC, POL, PMPK, and NATF.

Top losers of last week were: ENGRO, HBL, DGKC, LUCK, and OGDC.

Top Volume Leaders of last week:  Power, Cement, Banks and Technology sectors.

The Pakistan Stock Exchange (PSX) market index closed on negative note for seventh consecutive week taking 7 weeks loss to 15%. During outgoing week, index lost 1,550pts or 4.5% WoW, highest percentage loss after 30 weeks, and reached on 33,162 points.

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


  • Certain events including IMF loan and Emerging Market Status failed to excite the Investors
  • Average Traded volume also increased by 46% WoW basis to 107.22 Mn shares
  • The Fertilizer, Banking, Cement and OMC were the negative contributors which declined the Index by 1,020 points while the E&P and Power sectors were the positive contributors which added 102 points to the Index 
  • The Foreigners, Individuals and Companies were the net buyers worth Rs. 19.49 Mn collectively
  • The Mutual Funds and Insurance were the net sellers worth Rs. 21.50 Mn
  • The Power, Cement, Banks and Technology sectors were the volume leaders
  • Pakistan sustains upgraded status in MSCI Emerging Market Index
  • SBP Forex reserves fall by US$138mn to US$8.846bn
  • Pakistan submits implementation report to FATF
  • Hafeez Shaikh meets PSX delegates amid dull market sentiment
  • OGRA seeks 47pc increase in gas tariffs
  • Rupee hit a new all-time low of 149.35 to the US dollar in the inter-bank market on Friday
  • Fertilizer sector remained among one of the top laggards to index, as concerns over withdrawal of sales tax exemption and rumor related to replacement of GIDC with FED on gas supply are doing rounds. Similarly cement sector also performed poorly, as factors like slower economic growth, hike in policy rate and devaluation are likely to have substantial dent on manufacturers profitability 
  • The rules and forms for the Asset Declaration Scheme 2019 will be made public in order to make the amnesty scheme operational. The SBP will also issue a circular for making payments under the amnesty scheme
  • Special Assistant to PM on Health Services, Regulations and Coordination Dr Zafar Mirza warned pharmaceutical companies to bring down the prices of medicines to 75% or the government will move drug courts against them


Following are few BUY recommendations:

Attock Cement Ltd. (ACPL) – BUY 
Current Price: PKR 75.85
Target Price: PKR 142.6

Askari Bank (AKBL) – BUY 
Current Price: PKR 19.53
Target Price: PKR 28.4

Attock Petroleum (APL) – BUY 
Current Price: PKR 267
Target Price: PKR 479.57

Amreli Steels Limited (ASTL) – BUY 
Current Price: PKR 21.57
Target Price: PKR 58.0

Bank Al-Habib (BAHL) – BUY 
Current Price: PKR 77.46
Target Price: PKR  97.64

Bank Al-Falah (BAFL) – BUY 
Current Price: PKR 44.39
Target Price: PKR  60.1

Bank of Punjab (BOP) – BUY 
Current Price: PKR 11.08
Target Price: PKR 18.3

Cherat Cement Co Limited (CHCC) – BUY 
Current Price: PKR 33.55
Target Price: PKR 71.00

D.G. Khan Cement Co. (DGKC) – BUY 
Current Price: PKR 53.43
Target Price: PKR 105

Engro Fertilizer (EFERT) – BUY 
Current Price: PKR 63.69
Target Price: PKR 91.0

Engro Foods (EFOODS) – BUY 
Current Price: PKR 43.98
Target Price: PKR 80.87

Engro Corporations (ENGRO) – BUY 
Current Price: PKR 254.25
Target Price: PKR 359.6

Engro Polymer & Chemical (EPCL) – BUY 
Current Price: PKR 21.85
Target Price: PKR 46.3

Fauji Fertilizer Bin Qasim (FFBL) – BUY 
Current Price: PKR 20.32
Target Price: PKR 35.73

Fauji Cement Company (FCCL) – BUY 
Current Price: PKR 15.21
Target Price: PKR 25.3

Gharibwal Cement Ltd (GWLC) – BUY 
Current Price: PKR 9.01
Target Price: PKR 25

Hascol Petroleum (HASCOL) – BUY 
Current Price: PKR 64.18
Target Price: PKR 234.57

Habib Bank Limited (HBL) – BUY 
Current Price: PKR 118.92
Target Price: PKR 143.25

HUB Power Co. (HUBCO) – BUY 
Current Price: PKR 74.28
Target Price: PKR 101.05

Indus Motors (INDU) – BUY 
Current Price: PKR 1,200
Target Price: PKR 1,426.6

Kot Addu Power Co. (KAPCO) – BUY 
Current Price: PKR 35.89
Target Price: PKR 61.4

Kohat Cement Company (KOHC) – BUY 
Current Price: PKR 49.60
Target Price: PKR 111

Lotte Chemical Pak Ltd. (LOTCHEM) – BUY 
Current Price: PKR 13.71
Target Price: PKR 25.3

Lucky Cement (LUCK) – BUY 
Current Price: PKR 344.27
Target Price: PKR 605.8

Mari Petroleum Ltd. (MARI) – BUY 
Current Price: PKR   941.39
Target Price: PKR 1,983.6

Muslim Commercial Bank (MCB) – BUY 
Current Price: PKR   172.95
Target Price: PKR 224

Meezan Bank Limited (MEBL) – BUY 
Current Price: PKR 84.18
Target Price: PKR 115.80

Maple Leaf Cement (MLCF) – BUY 
Current Price: PKR 19.26
Target Price: PKR 56.6

Millat Tractors Limited (MTL) – BUY 
Current Price: PKR 838.28
Target Price: PKR 1,017

National Bank of Pakistan (NBP) – BUY 
Current Price: PKR 36.69
Target Price: PKR 66.51

Nishat Chunian Limited (NCL) – BUY 
Current Price: PKR 37.70
Target Price: PKR 55.00

Nishat Chunian Power Limited (NCPL) – BUY 
Current Price: PKR 16.84
Target Price: PKR 27.8

Nishat Mills (NML) – BUY 
Current Price: PKR 104.25
Target Price: PKR 158.00

Nishat Power Limited (NPL) – BUY 
Current Price: PKR 24.93
Target Price: PKR 32.5

Oil & Gas Development Co. (OGDC) – BUY 
Current Price: PKR 132.29
Target Price: PKR 190

Pak Elecktron Ltd (PAEL) – BUY 
Current Price: PKR 19.227
Target Price: PKR 28.20

Pioneer Cement Limited (PIOC) – BUY 
Current Price: PKR 18.92
Target Price: PKR 46.0

Pakistan Oilfields (POL) – BUY 
Current Price: PKR 403.05
Target Price: PKR 593.0

Pakistan Petroleum (PPL) – BUY 
Current Price: PKR 165.66
Target Price: PKR 208

Pakistan State Oil (PSO) – BUY 
Current Price: PKR 151.96
Target Price: PKR 298.00

Sui Northern Gas Pipeline (SNGP) – BUY 
Current Price: PKR 54.94
Target Price: PKR 96.2

United Bank Limited (UBL) – BUY 
Current Price: PKR 143.76
Target Price: PKR 154.60

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

Pakistan Stock Exchange (PSX) Weekly Analysis 12 May, 2019

BUY recommendations are:  ACPL, AKBL, APL, ASTL, BAHL, BAFL, BOP, CHCC, DGKC, EFERT, EFOODS, ENGRO, EPCL, FFBL, FCCL, GWLC, HASCOL, HBL, HUBCO, INDU, KAPCO, KOHC, LOTCHEM, LUCK, MARI, MCB, MEBL, MLCF, MTL, NBP, NCL, NCPL, NML, NPL, OGDC, PAEL, PIOC, POL, PPL, PSO, SNGP, and UBL.

Top gainers of last week were:  ENGRO, BAFL, HBL, PAEL, MEBL, BIPLS, SASNL, DKL, ILTM and DFSM.

Top losers of last week were: PSMC, HASCOL, MLCF, ASTL, and KEL.

Top Volume Leaders of last week:  KEL, MLCF, SNGP, BOP, UNITY, PPVC, CPAL, MTL, GRYL, and DWTM.

The Pakistan Stock Exchange (PSX) market index closed its sixth consecutive week on negative note. KSE-100 index closed on 34,717 by losing -1406 points or - 3.89 %, while KSE-30 index closed on 16,387 by losing -690 points or - 4.05 %.

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


  • Concerns of further interest rate hikes, depreciation of the PKR and fiscal consolidation measures (revision in energy prices, withdrawal of subsidies/tax concessions etc) kept the investment sentiment negative
  • Average traded volume were down by 30% to 73mn shares due to less trading hours amid Ramadan
  • Foreigners remained net buyers of US$9.5mn. While on local front mutual funds and insurance companies were net seller of US$10mn and US$3.86mn respectively
  • ICI Pakistan announced commissioning of its Master batches Plant
  • Asia Steel announced commissioning its Galvanizing Line (CGL) after completion of trial operations
  • The reserves held by the SBP rose by US$179mn to US$8.984bn due to official inflows
  • The country’s economic growth rate has slowed down to 3.3%, the lowest in nine years in the first year of Prime Minister Imran Khan’s government, which missed its targets set for all major sectors of the economy
  • The Federal Government has finally appointed Shabbar Zaidi Chairman Federal Board of Revenue (FBR)/Secretary Revenue Division for two years through a separate summary moved to the cabinet "through circulation" on pro-bono basis, mainly to dispense the condition of advertisement and fear of contempt of court 
  • The finance division formally announced Dr Reza Baqir of the International Monetary Fund (IMF) has been appointed governor of the State Bank of Pakistan (SBP) to serve for a three-year term
  • Government of Pakistan increased General Sales Tax (GST) and Petroleum Development Levy (PDL) rates for different products for May 2019
  • Based on news report, plans to announce the federal budget on May 22, according to a communication received at the tax bureaucracy last week have been delayed to June 11
  • Provisional GDP growth data shows that the economy is growing at a subdued 3.3 per cent growth rate, significantly short of 6.2pc growth target for the year 2018-19
  • Total foreign exchange reserves jumped by $230 million to $15.972 billion during the week ended on May 3
  • Coal-fired power project’s receivables swell to $150mln


Following are few BUY recommendations:

Attock Cement Ltd. (ACPL) – BUY 
Current Price: PKR 86.0
Target Price: PKR 142.6

Askari Bank (AKBL) – BUY 
Current Price: PKR 20.0
Target Price: PKR 28.4

Attock Petroleum (APL) – BUY 
Current Price: PKR 327.11
Target Price: PKR 479.57

Amreli Steels Limited (ASTL) – BUY 
Current Price: PKR 26.63
Target Price: PKR 58.0

Bank Al-Habib (BAHL) – BUY 
Current Price: PKR 79.91
Target Price: PKR  97.64

Bank Al-Falah (BAFL) – BUY 
Current Price: PKR 44.55
Target Price: PKR  60.1

Bank of Punjab (BOP) – BUY 
Current Price: PKR 11.7
Target Price: PKR 18.3

Cherat Cement Co Limited (CHCC) – BUY 
Current Price: PKR 40.25
Target Price: PKR 71.00

D.G. Khan Cement Co. (DGKC) – BUY 
Current Price: PKR 72
Target Price: PKR 105

Engro Fertilizer (EFERT) – BUY 
Current Price: PKR 65.23
Target Price: PKR 91.0

Engro Foods (EFOODS) – BUY 
Current Price: PKR 54.08
Target Price: PKR 80.87

Engro Corporations (ENGRO) – BUY 
Current Price: PKR 266.09
Target Price: PKR 359.6

Engro Polymer & Chemical (EPCL) – BUY 
Current Price: PKR 25.7
Target Price: PKR 46.3

Fauji Fertilizer Bin Qasim (FFBL) – BUY 
Current Price: PKR 25.03
Target Price: PKR 35.73

Fauji Cement Company (FCCL) – BUY 
Current Price: PKR 17.3
Target Price: PKR 25.3

Gharibwal Cement Ltd (GWLC) – BUY 
Current Price: PKR 11.24
Target Price: PKR 25

Hascol Petroleum (HASCOL) – BUY 
Current Price: PKR 78.12
Target Price: PKR 234.57

Habib Bank Limited (HBL) – BUY 
Current Price: PKR 123.81
Target Price: PKR 143.25

HUB Power Co. (HUBCO) – BUY 
Current Price: PKR 70.02
Target Price: PKR 101.05

Indus Motors (INDU) – BUY 
Current Price: PKR 1,230
Target Price: PKR 1,426.6

Kot Addu Power Co. (KAPCO) – BUY 
Current Price: PKR 39.0
Target Price: PKR 61.4

Kohat Cement Company (KOHC) – BUY 
Current Price: PKR 63.7
Target Price: PKR 111

Lotte Chemical Pak Ltd. (LOTCHEM) – BUY 
Current Price: PKR 15.0
Target Price: PKR 25.3

Lucky Cement (LUCK) – BUY 
Current Price: PKR 384.62
Target Price: PKR 605.8

Mari Petroleum Ltd. (MARI) – BUY 
Current Price: PKR   986.0
Target Price: PKR 1,983.6

Muslim Commercial Bank (MCB) – BUY 
Current Price: PKR   179.54
Target Price: PKR 224

Meezan Bank Limited (MEBL) – BUY 
Current Price: PKR 94.03
Target Price: PKR 115.80

Maple Leaf Cement (MLCF) – BUY 
Current Price: PKR 24.29
Target Price: PKR 56.6

Millat Tractors Limited (MTL) – BUY 
Current Price: PKR 882.3
Target Price: PKR 1,017

National Bank of Pakistan (NBP) – BUY 
Current Price: PKR 38.86
Target Price: PKR 66.51

Nishat Chunian Limited (NCL) – BUY 
Current Price: PKR 42.46
Target Price: PKR 55.00

Nishat Chunian Power Limited (NCPL) – BUY 
Current Price: PKR 16.4
Target Price: PKR 27.8

Nishat Mills (NML) – BUY 
Current Price: PKR 114.70
Target Price: PKR 158.00

Nishat Power Limited (NPL) – BUY 
Current Price: PKR 23.3
Target Price: PKR 32.5

Oil & Gas Development Co. (OGDC) – BUY 
Current Price: PKR 136.14
Target Price: PKR 190

Pak Elecktron Ltd (PAEL) – BUY 
Current Price: PKR 22.7
Target Price: PKR 28.20

Pioneer Cement Limited (PIOC) – BUY 
Current Price: PKR 23.61
Target Price: PKR 46.0

Pakistan Oilfields (POL) – BUY 
Current Price: PKR 385.2
Target Price: PKR 593.0

Pakistan Petroleum (PPL) – BUY 
Current Price: PKR 156.38
Target Price: PKR 208

Pakistan State Oil (PSO) – BUY 
Current Price: PKR 174.68
Target Price: PKR 298.00

Sui Northern Gas Pipeline (SNGP) – BUY 
Current Price: PKR 69.8
Target Price: PKR 96.2

United Bank Limited (UBL) – BUY 
Current Price: PKR 145.37
Target Price: PKR 154.60

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

Pakistan Stock Exchange (PSX) Weekly Analysis 5 May, 2019

BUY recommendations are:  ACPL, AKBL, APL, ASTL, BAHL, BAFL, BOP, CHCC, DGKC, EFERT, EFOODS, ENGRO, EPCL, FFBL, FCCL, GWLC, HASCOL, HBL, HUBCO, INDU, KAPCO, KOHC, LOTCHEM, LUCK, MARI, MCB, MEBL, MLCF, MTL, NBP, NCL, NCPL, NML, NPL, OGDC, PAEL, PIOC, POL, PPL, PSO, SNGP, and UBL.

Top gainers of last week were:  BOP, PSO, MLCF, KEL, MCB, PSMC, HMB, PAEL, and NBP.

Top losers of last week were: KAPCO, ATLH, ASTL, HASCOL, ARPL, PTC, PSO, FFBL, POL, and PPL.

Top Volume Leaders of last week:  LOTCHEM, KEL, SNGP, UNITY, MLCF, PAEL, PIBTL, and BOP.

The Pakistan Stock Exchange (PSX) market index continued to remain red for the whole week, where all sessions closed red as investors remained cautious over economy issues and ongoing talk with IMF team. KSE-100 index closed on 36,123 by losing -1008 points or - 2.71 %, while KSE-30 index closed on 17,077 by losing -594 points or - 3.36 %.

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


  • With the start of the Holy month of Ramadan and associated shortening of trading hours, consolidation is likely to be the norm. Major checkpoints in the coming month include the possible entry into an IMF program (and associated terms and conditions), mid-month MSCI review and Budget FY20, possibly furthering retrenchment amongst market participants
  • Average volumes dropped 14% vs. last week to 105mn sharers and value traded fell by 13% in regular market. Similarly, in future market volume dropped by 66% to 44mn compared to previous week of 128mn shares
  • During the week, foreigners were net buyers of US$4.76mn vs. net buying of US$9.3mn last week. Among local investors, banks were net buyers of US$1.71mn while mutual funds were net sellers of US$13.4mn. Individuals on the other hand were net buyers of US$2.2mn
  • E&P sector remained the most decliner during the week and eroded 309 points from index followed by banks (171pts) and fertilizer (148pts)
  • Continuing to price-in increased macro risks, event based factors and general slag in earnings growth witnessed during the outgoing results season
  • Amidst ongoing negotiations for an additional IMF program reportedly for US$6.5bn in funding, the IMF team has pushed for significant power sector reforms including resolution of circular debt, 25% hike in consumer power tariff and higher gas prices
  • CPI read for the month of April'19 was recorded at 8.8%YoY, in line with market expectations where food inflation trended higher
  • Petroleum division of the Ministry of Energy and OGRA stated that a hike in gas tariffs was imminent and necessary for curtailing persistent accruals in the domestic energy chain
  • Amongst a number of MoU's signed in Beijing under the Belt and Road Forum being held there, KEL signed an agreement for setting up a 700MW coal fired power plant with CMEC
  • The United States has acknowledged that recently both civil and military leaders in Pakistan have taken steps to eliminate terrorism
  • Pak Suzuki Motor Company has increased prices of Cultus and two Swift variants by Rs30,000 mainly due to passing the impact of rupee depreciation on to consumers
  • Pakistan’s economy is going through tough times and as per the norm the country is back on the International Monetary Fund’s (IMF) doorstep. Technical teams of the IMF and Pakistan are locked in negotiations for a bailout package and hope to strike a deal by May 10

Following are few BUY recommendations:

Attock Cement Ltd. (ACPL) – BUY 
Current Price: PKR 89.79
Target Price: PKR 142.6

Askari Bank (AKBL) – BUY 
Current Price: PKR 20.47
Target Price: PKR 28.4

Attock Petroleum (APL) – BUY 
Current Price: PKR 350.68
Target Price: PKR 479.57

Amreli Steels Limited (ASTL) – BUY 
Current Price: PKR 29.70
Target Price: PKR 58.0

Bank Al-Habib (BAHL) – BUY 
Current Price: PKR 81.83
Target Price: PKR  97.64

Bank Al-Falah (BAFL) – BUY 
Current Price: PKR 44.04
Target Price: PKR  60.1

Bank of Punjab (BOP) – BUY 
Current Price: PKR 12.13
Target Price: PKR 18.3

Cherat Cement Co Limited (CHCC) – BUY 
Current Price: PKR 43.69
Target Price: PKR 71.00

D.G. Khan Cement Co. (DGKC) – BUY 
Current Price: PKR 72.00
Target Price: PKR 105.00

Engro Fertilizer (EFERT) – BUY 
Current Price: PKR 68.26
Target Price: PKR 91.0

Engro Foods (EFOODS) – BUY 
Current Price: PKR 60.06
Target Price: PKR 80.87

Engro Corporations (ENGRO) – BUY 
Current Price: PKR 285.64
Target Price: PKR 359.6

Engro Polymer & Chemical (EPCL) – BUY 
Current Price: PKR 28.67
Target Price: PKR 46.3

Fauji Fertilizer Bin Qasim (FFBL) – BUY 
Current Price: PKR 27.02
Target Price: PKR 35.73

Fauji Cement Company (FCCL) – BUY 
Current Price: PKR 17.85
Target Price: PKR 25.3

Gharibwal Cement Ltd (GWLC) – BUY 
Current Price: PKR 11.50
Target Price: PKR 25

Hascol Petroleum (HASCOL) – BUY 
Current Price: PKR 92.70
Target Price: PKR 234.57

Habib Bank Limited (HBL) – BUY 
Current Price: PKR 122.44
Target Price: PKR 143.25

HUB Power Co. (HUBCO) – BUY 
Current Price: PKR 71.90
Target Price: PKR 136.9

Indus Motors (INDU) – BUY 
Current Price: PKR 1,294.59
Target Price: PKR 1,426.6

Kot Addu Power Co. (KAPCO) – BUY 
Current Price: PKR 41.06
Target Price: PKR 61.4

Kohat Cement Company (KOHC) – BUY 
Current Price: PKR 73.24
Target Price: PKR 111

Lotte Chemical Pak Ltd. (LOTCHEM) – BUY 
Current Price: PKR 15.57
Target Price: PKR 25.3

Lucky Cement (LUCK) – BUY 
Current Price: PKR 384.62
Target Price: PKR 605.8

Mari Petroleum Ltd. (MARI) – BUY 
Current Price: PKR   1 ,147.38
Target Price: PKR 1,983.6

Muslim Commercial Bank (MCB) – BUY 
Current Price: PKR   187.25
Target Price: PKR 224

Meezan Bank Limited (MEBL) – BUY 
Current Price: PKR 93.51
Target Price: PKR 115.80

Maple Leaf Cement (MLCF) – BUY 
Current Price: PKR 27.82
Target Price: PKR 56.6

Millat Tractors Limited (MTL) – BUY 
Current Price: PKR 882.51
Target Price: PKR 1,017

National Bank of Pakistan (NBP) – BUY 
Current Price: PKR 39.02
Target Price: PKR 66.51

Nishat Chunian Limited (NCL) – BUY 
Current Price: PKR 43.70
Target Price: PKR 55.00

Nishat Chunian Power Limited (NCPL) – BUY 
Current Price: PKR 18.77
Target Price: PKR 27.8

Nishat Mills (NML) – BUY 
Current Price: PKR 119.88
Target Price: PKR 158.00

Nishat Power Limited (NPL) – BUY 
Current Price: PKR 23.80
Target Price: PKR 32.5

Oil & Gas Development Co. (OGDC) – BUY 
Current Price: PKR 138.32
Target Price: PKR 190

Pak Elecktron Ltd (PAEL) – BUY 
Current Price: PKR 22.50
Target Price: PKR 28.20

Pioneer Cement Limited (PIOC) – BUY 
Current Price: PKR 25.57
Target Price: PKR 46.0

Pakistan Oilfields (POL) – BUY 
Current Price: PKR 409.89
Target Price: PKR 593.0

Pakistan Petroleum (PPL) – BUY 
Current Price: PKR 165.21
Target Price: PKR 208

Pakistan State Oil (PSO) – BUY 
Current Price: PKR 185.74
Target Price: PKR 298.00

Sui Northern Gas Pipeline (SNGP) – BUY 
Current Price: PKR 74.43
Target Price: PKR 96.2

United Bank Limited (UBL) – BUY 
Current Price: PKR 146.26
Target Price: PKR 154.60

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

Company Results - Until April 30, 2019


Tata Tex (TATM)
Profit/Loss(million): -39.972
EPS(Quarter): -2.31
EPS(Overall): 1.93
Bonus/Dividend: NIL

Worldcall Telecom (WTL)
Profit/Loss(million): 120.371
EPS(Quarter): 0.08
EPS(Overall): 
Bonus/Dividend: NIL

Kohinoor Spinning (KOSM)
Profit/Loss(million): -70.985
EPS(Quarter): -0.33
EPS(Overall): -1.37
Bonus/Dividend: NIL

Salfi Textiles (SALT)
Profit/Loss(million): -80.241
EPS(Quarter): -24.02
EPS(Overall): -22.18
Bonus/Dividend: NIL

Ishtiaq Tex (ISHT)
Profit/Loss(million): -7.288
EPS(Quarter): -1.71
EPS(Overall): -4.67
Bonus/Dividend: NIL

Yousaf Weaving (YOUW)
Profit/Loss(million): -27.376
EPS(Quarter): -0.30
EPS(Overall): -1.29
Bonus/Dividend: NIL

Island Tex (ILTM)
Profit/Loss(million): -17.976
EPS(Quarter): -35.95
EPS(Overall): 351.97
Bonus/Dividend: NIL

Chakwal (CWSM)
Profit/Loss(million): -36.487
EPS(Quarter): -0.91
EPS(Overall): -2.20
Bonus/Dividend: NIL

Hala Enterprises (HAEL)
Profit/Loss(million): 2.087
EPS(Quarter): 0.31
EPS(Overall): 0.61
Bonus/Dividend: NIL

Nishat Chunian (NCL)
Profit/Loss(million): 422.881
EPS(Quarter): 1.76
EPS(Overall): 10.16
Bonus/Dividend: NIL

Ghani Value Glass Limited (GVGL)
Profit/Loss(million): 116.715
EPS(Quarter): 3.12
EPS(Overall): 6.34
Bonus/Dividend: 30%

Saritow Spinning (SSML)
Profit/Loss(million): 20.285
EPS(Quarter): 0.68
EPS(Overall): 0.73
Bonus/Dividend: NIL

Netsol Technologies Limited (NETSOL)
Profit/Loss(million): 182.564
EPS(Quarter): 2.05
EPS(Overall): 9.55
Bonus/Dividend: NIL

Ali Asghar Textile (AATM)
Profit/Loss(million): -1.548
EPS(Quarter): -0.03
EPS(Overall): -0.11
Bonus/Dividend: NIL

Ghani Automobile Industries Limited (GAIL)
Profit/Loss(million): -9.484
EPS(Quarter): -0.19
EPS(Overall): -0.61
Bonus/Dividend: NIL

B.r.r.guardian (BRR)
Profit/Loss(million): 16.194
EPS(Quarter): 0.19
EPS(Overall): 0.24
Bonus/Dividend: NIL

Dadabhoy Sack (DBSL)
Profit/Loss(million): -3.748
EPS(Quarter): -0.94
EPS(Overall): -2.39
Bonus/Dividend: NIL

Salman Noman Enterprises (SANE)
Profit/Loss(million): -21.948
EPS(Quarter): -4.91
EPS(Overall): -14.41
Bonus/Dividend: NIL

Ishaq Tex (ISTM)
Profit/Loss(million): 10.098
EPS(Quarter): 1.05
EPS(Overall): -1.15
Bonus/Dividend: NIL

Dandot Cement (DNCC)
Profit/Loss(million): -121.253
EPS(Quarter): -1.28
EPS(Overall): -3.15
Bonus/Dividend: NIL

Hub Power Co (HUBC)
Profit/Loss(million): 2811.621
EPS(Quarter): 2.43
EPS(Overall): 5.05
Bonus/Dividend: NIL

Pakistan Petroleum Limited (PPL)
Profit/Loss(million): 14214.415
EPS(Quarter): 6.27
EPS(Overall): 19.96
Bonus/Dividend: NIL

Avanceon Limited (AVN)
Profit/Loss(million): 84.41
EPS(Quarter): 0.62
EPS(Overall): 
Bonus/Dividend: NIL

Ados Pakistan (ADOS)
Profit/Loss(million): -40.579
EPS(Quarter): -6.17
EPS(Overall): -11.10
Bonus/Dividend: NIL

Leiner Pak Gelatine (LPGL)
Profit/Loss(million): 9.338
EPS(Quarter): 1.25
EPS(Overall): 0.80
Bonus/Dividend: NIL

Clover Pakistan Limited (CLOV)
Profit/Loss(million): 75.403
EPS(Quarter): 3.03
EPS(Overall): 17.53
Bonus/Dividend: NIL

Shaheen Insurance (SHNI)
Profit/Loss(million): 17.761
EPS(Quarter): 0.30
EPS(Overall): 
Bonus/Dividend: NIL

Kohinoor Industries (KOIL)
Profit/Loss(million): 3.168
EPS(Quarter): 0.10
EPS(Overall): 0.52
Bonus/Dividend: NIL

Nishat Chunian Power Limited (NCPL)
Profit/Loss(million): 751.267
EPS(Quarter): 2.05
EPS(Overall): 7.09
Bonus/Dividend: 10%

Ayesha Textile Mills Limited (AYTM)
Profit/Loss(million): 0.607
EPS(Quarter): 0.43
EPS(Overall): 2.10
Bonus/Dividend: NIL

United Insurance (UNIC)
Profit/Loss(million): 218.11
EPS(Quarter): 0.84
EPS(Overall): 
Bonus/Dividend: NIL

Unity Foods Limited (UNITY)
Profit/Loss(million): 40.235
EPS(Quarter): 0.24
EPS(Overall): 1.11
Bonus/Dividend: NIL

Telecard Limited (TELE)
Profit/Loss(million): -9.618
EPS(Quarter): -0.03
EPS(Overall): -0.05
Bonus/Dividend: NIL

Colony Textile Mills Limited (CTM)
Profit/Loss(million): 43.677
EPS(Quarter): 0.09
EPS(Overall): 1.02
Bonus/Dividend: NIL

Treet Corporation Limited (TREET)
Profit/Loss(million): -11.104
EPS(Quarter): -0.07
EPS(Overall): 0.33
Bonus/Dividend: NIL

Indus Dyeing (IDYM)
Profit/Loss(million): 227.812
EPS(Quarter): 12.61
EPS(Overall): 70.22
Bonus/Dividend: NIL

Ghani Glass (GHGL)
Profit/Loss(million): 686.371
EPS(Quarter): 1.27
EPS(Overall): 5.39
Bonus/Dividend: 15%

Escorts Investment Bank (ESBL)
Profit/Loss(million): -4.339
EPS(Quarter): -0.10
EPS(Overall): -0.84
Bonus/Dividend: NIL

Kohinoor Power Co (KOHP)
Profit/Loss(million): 0.242
EPS(Quarter): 0.02
EPS(Overall): -0.35
Bonus/Dividend: NIL

Mughal Iron and Steel Limited (MUGHAL)
Profit/Loss(million): 361.713
EPS(Quarter): 1.44
EPS(Overall): 4.27
Bonus/Dividend: NIL

Gammon Pakistan (GAMON)
Profit/Loss(million): 4.622
EPS(Quarter): 0.16
EPS(Overall): 0.17
Bonus/Dividend: NIL

Ruby Textile Mills Limited (RUBY)
Profit/Loss(million): -41.359
EPS(Quarter): -0.79
EPS(Overall): -2.47
Bonus/Dividend: NIL

Dawood Lawrencepur Limited (DLL)
Profit/Loss(million): -10.353
EPS(Quarter): -0.17
EPS(Overall): 
Bonus/Dividend: 40%

Capital Asset Leaseing (CPAL)
Profit/Loss(million): 2.618
EPS(Quarter): 0.24
EPS(Overall): 1.80
Bonus/Dividend: NIL

Cresent Star Insurance (CSIL)
Profit/Loss(million): 8.511
EPS(Quarter): 0.08
EPS(Overall): 
Bonus/Dividend: NIL

PICIC Insurance Limited (PIL)
Profit/Loss(million): -0.219
EPS(Quarter): -0.01
EPS(Overall): 
Bonus/Dividend: NIL

Sunrays Tex (SUTM)
Profit/Loss(million): 74.977
EPS(Quarter): 10.87
EPS(Overall): 50.81
Bonus/Dividend: NIL

AMTEX Limited (AMTEX)
Profit/Loss(million): -76.553
EPS(Quarter): -0.30
EPS(Overall): -0.97
Bonus/Dividend: NIL

Roshan Packages Limited (RPL)
Profit/Loss(million): -6.661
EPS(Quarter): -0.05
EPS(Overall): -0.29
Bonus/Dividend: NIL

F Treet Manufacturing Modaraba (FTMM)
Profit/Loss(million): -564.671
EPS(Quarter): -2.89
EPS(Overall): -8.10
Bonus/Dividend: NIL

Gul Ahmad Textile Limited (GATM)
Profit/Loss(million): 644.807
EPS(Quarter): 1.81
EPS(Overall): 7.57
Bonus/Dividend: NIL

Flying Cement Limited (FLYNG)
Profit/Loss(million): 64.098
EPS(Quarter): 0.36
EPS(Overall): 0.80
Bonus/Dividend: NIL

General Tyre &rubber Co. (GTYR)
Profit/Loss(million): 4.837
EPS(Quarter): 0.05
EPS(Overall): 0.95
Bonus/Dividend: NIL

Power Cement Limited (POWER)
Profit/Loss(million): 11.632
EPS(Quarter): 0.01
EPS(Overall): 0.04
Bonus/Dividend: NIL

Reliance Insurance (RICL)
Profit/Loss(million): 12.940
EPS(Quarter): 0.23
EPS(Overall): 
Bonus/Dividend: NIL

Pak Oxygen Limited (PAKOXY)
Profit/Loss(million): 94.679
EPS(Quarter): 2.91
EPS(Overall): 
Bonus/Dividend: NIL

I.c.c.tex (ICCT)
Profit/Loss(million): -24.172
EPS(Quarter): -0.81
EPS(Overall): -0.08
Bonus/Dividend: NIL

East West Insurance (EWIC)
Profit/Loss(million): 77.566
EPS(Quarter): 1.02
EPS(Overall): 
Bonus/Dividend: NIL

Ghani Gases Limited (GGL)
Profit/Loss(million): -14.581
EPS(Quarter): -0.10
EPS(Overall): 0.45
Bonus/Dividend: NIL

KASB Modaraba (KASBM)
Profit/Loss(million): -2.499
EPS(Quarter): -0.05
EPS(Overall): 0.04
Bonus/Dividend: NIL

Udl Modaraba Ist (FUDLM)
Profit/Loss(million): -17.387
EPS(Quarter): -0.60
EPS(Overall): -1.68
Bonus/Dividend: NIL

ZIL Limited (ZIL)
Profit/Loss(million): 10.35
EPS(Quarter): 1.69
EPS(Overall): 
Bonus/Dividend: NIL

Fecto Cement (FECTC)
Profit/Loss(million): 31.618
EPS(Quarter): 0.63
EPS(Overall): 2.73
Bonus/Dividend: NIL

Np Spining Mills Limited (NPSM)
Profit/Loss(million): -15.254
EPS(Quarter): -1.04
EPS(Overall): -23.86
Bonus/Dividend: NIL

Tri-stab Mod.ist (FTSM)
Profit/Loss(million): -3.966
EPS(Quarter): -0.19
EPS(Overall): -0.34
Bonus/Dividend: NIL

Dewan Salman Fiber Limited (DSFL)
Profit/Loss(million): -197.902
EPS(Quarter): -0.54
EPS(Overall): -2.76
Bonus/Dividend: NIL

Pakistan Stock Exchange (PSX) Weekly Analysis 28 April, 2019

BUY recommendations are:  ACPL, AKBL, APL, ASTL, BAHL, BAFL, BOP, CHCC, DGKC, EFERT, EFOODS, ENGRO, EPCL, FFBL, FCCL, GWLC, HASCOL, HBL, HUBCO, INDU, KAPCO, KOHC, LOTCHEM, LUCK, MARI, MCB, MEBL, MLCF, MTL, NBP, NCL, NCPL, NML, NPL, OGDC, PAEL, PIOC, POL, PPL, PSO, SNGP, and UBL.

Top gainers of last week were:  CHCC, UBL, FCCL, HMB, INDU, ENGRO, DAWH, LUCK, and MEBL.

Top losers of last week were: PPL, FFBL, FFC, ASTL, FATIMA, PSMC, MLCF, SEARL, PSO, and ABOT.

Top Volume Leaders of last week:  BOP, LOTCHEM, KEL, PIOC, and PAEL.

The Pakistan Stock Exchange (PSX) market index started the week on a negative note, losing 888pts (-2.4%) in the first two trading sessions. Later, market recovered 727 points in three sessions and helped index to close flat. KSE-100 index closed on 37,131 by losing -161 points or - 0.43 %, while KSE-30 index closed on 17,671 by losing -68 points or - 0.39 %.

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


  • The new economic team of gov’t has decided to fine-tune the much-awaited tax amnesty scheme which will be unveiled soon as a comprehensive document
  • The government has reportedly kick started the process of renegotiation of power purchase tariffs with the IPPs to ease of burden of mounting circular debts
  • The government and pharmaceutical companies have reportedly agreed on full implementation of Statutory Regulatory Order (SRO) 1610 pertaining to the hardship cases
  • The budget deficit touched PkR1.6bn (4.2% of GDP) in the first nine months of the current fiscal year
  • The Supreme Court has restored deduction of withholding tax, sales tax and service charges on pre-paid cellular scratch cards by vacating its earlier suspension order
  • During the week, financial results for 1Q2019 were announced by the all major banks namely HBL, UBL, MCB, ABL, and MEBL. Investors went long after these announcements as NII of nearly all banks witnessed decent growth. Commercial banks added 300 points to index during last three sessions, while full week addition was 115 points 
  • Foreigners were net buyers of US$9.3mn vs. net selling of US$1.9mn last week. Among local investors, during the week banks were net buyers of US$3.1mn while mutual funds were net sellers of US$8.2mn. Companies on the other hand were net buyers of US$3.0mn
  • Jubilee Life Insurance announced its result for 1Q2019 declaring an EPS of Rs3.75 vs. Rs9.50 in same period last year. The decline in Profit After Tax is mainly due to contraction in margins by 8ppts in 1QCY19
  • Indus Motors (INDU) declared its 3QFY19 result posting an EPS of Rs42.56 vs. Rs54.35 in same period last year. Earnings were reduced by 22% YoY as a result of depletion in GP margin by 5ppts to 12%. Other income have increased by 17% YoY contributing positively to the bottom-line. INDU has declared an interim cash dividend of Rs30/share for this quarter
  • Unilever Pakistan Foods Limited (UPFL) has announced its result with an EPS of Rs87.50 in1Q2019. Revenue has increased by 3% YoY but Gross profit has declined by 4% YoY due to inflationary pressures. UPFL has declared an interim cash dividend of Rs88/share for this quarter
  • Pioneer Cement Ltd has announced its 3QFY19 result declaring an EPS of Rs1.31 vs. Rs1.81 in same period last year. PAT has declined by 28% YoY mainly due to rise in Finance cost by 2.64x compared with same period last year
  • Pakistan and the International Monetary Fund (IMF) will begin discussing the aid package for Islamabad from April 29,2019

Following are few BUY recommendations:

Attock Cement Ltd. (ACPL) – BUY 
Current Price: PKR 89.97
Target Price: PKR 142.6

Askari Bank (AKBL) – BUY 
Current Price: PKR 20.88
Target Price: PKR 28.4

Attock Petroleum (APL) – BUY 
Current Price: PKR 363.75
Target Price: PKR 479.57

Amreli Steels Limited (ASTL) – BUY 
Current Price: PKR 32.30
Target Price: PKR 58.0

Bank Al-Habib (BAHL) – BUY 
Current Price: PKR 82.66
Target Price: PKR  97.64

Bank Al-Falah (BAFL) – BUY 
Current Price: PKR 44.87
Target Price: PKR  60.1

Bank of Punjab (BOP) – BUY 
Current Price: PKR 12.71
Target Price: PKR 18.3

Cherat Cement Co Limited (CHCC) – BUY 
Current Price: PKR 45.01
Target Price: PKR 71.00

D.G. Khan Cement Co. (DGKC) – BUY 
Current Price: PKR 74.71
Target Price: PKR 105.00

Engro Fertilizer (EFERT) – BUY 
Current Price: PKR 70.57
Target Price: PKR 91.0

Engro Foods (EFOODS) – BUY 
Current Price: PKR 61.47
Target Price: PKR 80.87

Engro Corporations (ENGRO) – BUY 
Current Price: PKR 323.37
Target Price: PKR 359.6

Engro Polymer & Chemical (EPCL) – BUY 
Current Price: PKR 30.95
Target Price: PKR 46.3

Fauji Fertilizer Bin Qasim (FFBL) – BUY 
Current Price: PKR 29.01
Target Price: PKR 35.73

Fauji Cement Company (FCCL) – BUY 
Current Price: PKR 18.49
Target Price: PKR 25.3

Gharibwal Cement Ltd (GWLC) – BUY 
Current Price: PKR 12.04
Target Price: PKR 25

Hascol Petroleum (HASCOL) – BUY 
Current Price: PKR 91.23
Target Price: PKR 234.57

Habib Bank Limited (HBL) – BUY 
Current Price: PKR 127.15
Target Price: PKR 143.25

HUB Power Co. (HUBCO) – BUY 
Current Price: PKR 75.57
Target Price: PKR 136.9

Indus Motors (INDU) – BUY 
Current Price: PKR 1,348.34
Target Price: PKR 1,426.6

Kot Addu Power Co. (KAPCO) – BUY 
Current Price: PKR 42.40
Target Price: PKR 61.4

Kohat Cement Company (KOHC) – BUY 
Current Price: PKR 76.46
Target Price: PKR 111

Lotte Chemical Pak Ltd. (LOTCHEM) – BUY 
Current Price: PKR 16.88
Target Price: PKR 25.3

Lucky Cement (LUCK) – BUY 
Current Price: PKR 395.83
Target Price: PKR 605.8

Mari Petroleum Ltd. (MARI) – BUY 
Current Price: PKR   1 ,177.29
Target Price: PKR 1,983.6

Muslim Commercial Bank (MCB) – BUY 
Current Price: PKR   189.99
Target Price: PKR 224

Meezan Bank Limited (MEBL) – BUY 
Current Price: PKR 97.40
Target Price: PKR 115.80

Maple Leaf Cement (MLCF) – BUY 
Current Price: PKR 28.52
Target Price: PKR 56.6

Millat Tractors Limited (MTL) – BUY 
Current Price: PKR 902.11
Target Price: PKR 1,017

National Bank of Pakistan (NBP) – BUY 
Current Price: PKR 39.05
Target Price: PKR 66.51

Nishat Chunian Limited (NCL) – BUY 
Current Price: PKR 46.23
Target Price: PKR 55.00

Nishat Chunian Power Limited (NCPL) – BUY 
Current Price: PKR 17.92
Target Price: PKR 27.8

Nishat Mills (NML) – BUY 
Current Price: PKR 123.03
Target Price: PKR 158.00

Nishat Power Limited (NPL) – BUY 
Current Price: PKR 24.13
Target Price: PKR 32.5

Oil & Gas Development Co. (OGDC) – BUY 
Current Price: PKR 144.93
Target Price: PKR 190

Pak Elecktron Ltd (PAEL) – BUY 
Current Price: PKR 22.16
Target Price: PKR 28.20

Pioneer Cement Limited (PIOC) – BUY 
Current Price: PKR 26.09
Target Price: PKR 46.0

Pakistan Oilfields (POL) – BUY 
Current Price: PKR 438.15
Target Price: PKR 593.0

Pakistan Petroleum (PPL) – BUY 
Current Price: PKR 175.86
Target Price: PKR 208

Pakistan State Oil (PSO) – BUY 
Current Price: PKR 200.08
Target Price: PKR 298.00

Sui Northern Gas Pipeline (SNGP) – BUY 
Current Price: PKR 75.93
Target Price: PKR 96.2

United Bank Limited (UBL) – BUY 
Current Price: PKR 147.09
Target Price: PKR 154.60

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

Pakistan Stock Exchange (PSX) Weekly Analysis 21 April, 2019

BUY recommendations are:  ACPL, AKBL, APL, ASTL, BAHL, BAFL, BOP, CHCC, DGKC, EFERT, EFOODS, ENGRO, EPCL, FFBL, FCCL, GWLC, HASCOL, HBL, HUBCO, INDU, KAPCO, KOHC, LOTCHEM, LUCK, MARI, MCB, MEBL, MLCF, MTL, NBP, NCL, NCPL, NML, NPL, OGDC, PAEL, PIOC, POL, PPL, PSO, SNGP, and UBL.

Top gainers of last week were:  FFC, UBL, PPL, PAEL, HUBC, SNGP, NRL, NESTLE, PSMC, FCCL, HBL and MCB.

Top losers of last week were: LUCK, PSO, BOP, ISL, PMPK, BAHL, HMB, GWLC, PAKT, PIOC, HASCOL, and CHCC.

Top Volume Leaders of last week:  BOP, PAEL, KEL, UNITY, WTL and FCCL.

The Pakistan Stock Exchange (PSX) market index remain volatile throughout the week due to the series of event. KSE-100 index closed on 37,292 by losing -46 points or - 0.12 %, while KSE-30 index closed on 17,739 by gaining 88 or 0. 50 %.

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


  • On the political front, the PM announced major Cabinet Reshuffling. Finance Minister Asad Umar has stepped down from his Ministry, Dr. Hafeez Sheikh appointed Advisor on Finance after a major reshuffle in Federal Cabinet
  • Trading volume also increased by 27.7% WoW to 175.44 million shares. The Mutual funds and Foreigners were the net sellers, worth 7.10 Mn collectively. While the Banks, Companies and Individuals were net buyers, worth 7.79 Mn collectively
  • The SBP drafted a proposal to introduce Treasury Single Account (TSA) that created a havoc among the banking sector which lately clarified by the SBP that it won’t take any steps without the discussion and consultation from the stakeholders 
  • During last weekend, successful negotiations held with International Monetary Fund (IMF) in USA, as per former FM Asad Umar, which initially created some activity in the market
  • The E&P, Fertilizers, Auto and Power sectors were the positive contributors which added 148 points to the Index. While the Cement, Engineering, Pharmaceutical and Banking sectors were the major laggards that dragged down the Index by 105 points 
  • Prime Minister Imran Khan launched landmark Naya Pakistan Apna Ghar Housing Scheme
  • Engro Corporation to acquire 100% control of Engro FZE
  • OGRA has said that prices of gas are likely to be surged by 75% to 80% in the next fiscal year
  • Mari Petroleum company Limited (MPCL) notified the exchange that MPCL along with its Joint venture Partner Pakistan Petroleum Limited (PPL) has made an oil discovery at exploratory well Dharian-1 ST-3 near Rawalpindi which is 2nd consecutive discovery by Ghauri Joint venture in Ghauri Block
  • Pakistan’s textile exports were recorded at US$9.99bn during nine months (July to March) of the ongoing fiscal year. The country’s textile exports had remained at the same level of previous year, showing no growth

Following are few BUY recommendations:

Attock Cement Ltd. (ACPL) – BUY 
Current Price: PKR 87.94
Target Price: PKR 142.6

Askari Bank (AKBL) – BUY 
Current Price: PKR 19.81
Target Price: PKR 28.4

Attock Petroleum (APL) – BUY 
Current Price: PKR 368.43
Target Price: PKR 479.57

Amreli Steels Limited (ASTL) – BUY 
Current Price: PKR 35.92
Target Price: PKR 80.0

Bank Al-Habib (BAHL) – BUY 
Current Price: PKR 82.22
Target Price: PKR  97.64

Bank Al-Falah (BAFL) – BUY 
Current Price: PKR 44.45
Target Price: PKR  60.1

Bank of Punjab (BOP) – BUY 
Current Price: PKR 12.61
Target Price: PKR 18.3

Cherat Cement Co Limited (CHCC) – BUY 
Current Price: PKR 41.61
Target Price: PKR 71.00

D.G. Khan Cement Co. (DGKC) – BUY 
Current Price: PKR 73.79
Target Price: PKR 105.00

Engro Fertilizer (EFERT) – BUY 
Current Price: PKR 70.83
Target Price: PKR 91.0

Engro Foods (EFOODS) – BUY 
Current Price: PKR 61.56
Target Price: PKR 80.87

Engro Corporations (ENGRO) – BUY 
Current Price: PKR 318.70
Target Price: PKR 359.6

Engro Polymer & Chemical (EPCL) – BUY 
Current Price: PKR 33.30
Target Price: PKR 46.3

Fauji Fertilizer Bin Qasim (FFBL) – BUY 
Current Price: PKR 32.27
Target Price: PKR 43.5

Fauji Cement Company (FCCL) – BUY 
Current Price: PKR 17.65
Target Price: PKR 25.3

Gharibwal Cement Ltd (GWLC) – BUY 
Current Price: PKR 12.05
Target Price: PKR 25

Hascol Petroleum (HASCOL) – BUY 
Current Price: PKR 91.62
Target Price: PKR 234.57

Habib Bank Limited (HBL) – BUY 
Current Price: PKR 127.10
Target Price: PKR 143.25

HUB Power Co. (HUBCO) – BUY 
Current Price: PKR 76.00
Target Price: PKR 136.9

Indus Motors (INDU) – BUY 
Current Price: PKR 1,302
Target Price: PKR 1,426.6

Kot Addu Power Co. (KAPCO) – BUY 
Current Price: PKR 41.74
Target Price: PKR 61.4

Kohat Cement Company (KOHC) – BUY 
Current Price: PKR 76.45
Target Price: PKR 111

Lotte Chemical Pak Ltd. (LOTCHEM) – BUY 
Current Price: PKR 15.08
Target Price: PKR 25.3

Lucky Cement (LUCK) – BUY 
Current Price: PKR 388.22
Target Price: PKR 605.8

Mari Petroleum Ltd. (MARI) – BUY 
Current Price: PKR   1 ,178.96
Target Price: PKR 1,983.6

Muslim Commercial Bank (MCB) – BUY 
Current Price: PKR   192.27
Target Price: PKR 224

Meezan Bank Limited (MEBL) – BUY 
Current Price: PKR 94.44
Target Price: PKR 115.80

Maple Leaf Cement (MLCF) – BUY 
Current Price: PKR 29.75
Target Price: PKR 56.6

Millat Tractors Limited (MTL) – BUY 
Current Price: PKR 893.63
Target Price: PKR 1,017

National Bank of Pakistan (NBP) – BUY 
Current Price: PKR 40.31
Target Price: PKR 66.51

Nishat Chunian Limited (NCL) – BUY 
Current Price: PKR 46.75
Target Price: PKR 55.00

Nishat Chunian Power Limited (NCPL) – BUY 
Current Price: PKR 18.20
Target Price: PKR 27.8

Nishat Mills (NML) – BUY 
Current Price: PKR 125.99
Target Price: PKR 158.00

Nishat Power Limited (NPL) – BUY 
Current Price: PKR 24.30
Target Price: PKR 32.5

Oil & Gas Development Co. (OGDC) – BUY 
Current Price: PKR 144.59
Target Price: PKR 190

Pak Elecktron Ltd (PAEL) – BUY 
Current Price: PKR 22.96
Target Price: PKR 28.20

Pioneer Cement Limited (PIOC) – BUY 
Current Price: PKR 25.59
Target Price: PKR 46.0

Pakistan Oilfields (POL) – BUY 
Current Price: PKR 444.16
Target Price: PKR 593.0

Pakistan Petroleum (PPL) – BUY 
Current Price: PKR 180.22
Target Price: PKR 208

Pakistan State Oil (PSO) – BUY 
Current Price: PKR 207.33
Target Price: PKR 298.00

Sui Northern Gas Pipeline (SNGP) – BUY 
Current Price: PKR 77.29
Target Price: PKR 96.2

United Bank Limited (UBL) – BUY 
Current Price: PKR 139.87
Target Price: PKR 154.60

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

Pakistan Stock Exchange (PSX) Weekly Analysis 13 April, 2019

BUY recommendations are:  ACPL, AKBL, APL, ASTL, BAHL, BAFL, BOP, CHCC, DGKC, EFERT, EFOODS, ENGRO, EPCL, FFBL, FCCL, GWLC, HASCOL, HBL, HUBCO, INDU, KAPCO, KOHC, LOTCHEM, LUCK, MARI, MCB, MEBL, MLCF, MTL, NBP, NCL, NCPL, NML, NPL, OGDC, PAEL, PIOC, POL, PPL, PSO, SNGP, and UBL.

Top gainers of last week were:  HUBC, PSO, NESTLE, FABL, HBL, NBP, INDU, and UBL.

Top losers of last week were: CHCC, LUCK, DGKC, PPL, PIOC, MLCF, HASCOL, and FCCL.

Top Volume Leaders of last week:  KEL, WTL, MLCF, FCCL, and BOP.

The Pakistan Stock Exchange (PSX) market index remained volatile and market performance during the outgoing week remained under pressure, where KSE-100 index troughed at 36,579 points mid-week, lowest level since PTI’s government came to power. KSE-100 index closed on 37,338 by losing -184 points or - 0.49%, while KSE-30 index closed on 17,651 by losing 84 or - 0.47 %.

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


  • The market rumor of a potential price war in cement sector led to a further drag on the market performance
  • Pakistan, IMF at odds over PkR5.4tn tax collection target vs. 4.0tn collected in FY18
  • IMF’s forecast for Pakistan’s GDP growth rate to remain at 2.5% till 2024, and fiscal deficit to peak at 8.7% of GDP in FY20, without reforms
  • Government mulling over a gas price hike of 20-42%, effective Jul’19 to reduce losses incurred by gas companies in the outgoing financial year
  • Trade deficit declining by 14% in 9MFY19 due to sharp currency devaluation since Dec’18
  • Flattish exports during 9MFY19, posting an especially bad performance during Mar’19 (down 11% YoY)
  • Autos sales, which remained flattish at 160K units during 9MFY19, with cars of 800cc and below did exceptionally well due to removal of non-filer ban in Mar’19
  • The market during upcoming week is expected to be dominated by further news flow regarding development on IMF program, announcement of another Amnesty scheme and submission of FATF’s third implementation report on 15th April
  • The result season has started on a weak note, with APL posting below expected results, and will continue to hold sway over market performance
  • During the week, foreigners were net sellers of US$2.2mn vs. net selling of US$3.7mn last week. While, among local investors, during the week banks were net buyers of US$4.0mn while mutual funds were net sellers of US$3.4mn
  • Attock Petroleum (APL) announced 3QFY19 earnings of Rs2.9, down 80% YoY driven by lower margins during the quarter. Gross Margins of APL declined to 1.8% in 3QFY9 vs. 5.4% in same period last year. Net sales of the company improved to Rs48.9bn in 3QFY19, +8% YoY. APL has announced interim cash dividend of Rs 10/share
  • As per media reports; Policy board has recommended to form a stock market support fund to boost investor confidence on Pakistan’s capital markets, especially at a time when Pakistan’s Emerging Market status will be under scrutiny in MSCI Date of fund launch and its size is yet to be confirmed
  • Prime Minister Imran Khan has said that the government was not only giving top priority to China Pakistan Economic Corridor (CPEC) project but wanted to further expand its scope so that other countries could also become part of the gigantic project and a new era of progress and prosperity started in the region
  • The government has disbursed about Rs449 bn for development program on completion of first three quarters of 2018-19, down 26%, from Rs607bn in same period last year
  • The total liquid foreign reserves held by the country stood at US$17.2bn as on April 5, down by US$169mn. As per figures, foreign reserves held by the SBP stood at US$10.3bn whereas the net foreign reserves held by commercial banks were recorded at 6.9 bn

Following are few BUY recommendations:

Attock Cement Ltd. (ACPL) – BUY 
Current Price: PKR 8 6.1
Target Price: PKR 142.6

Askari Bank (AKBL) – BUY 
Current Price: PKR 2 0.2
Target Price: PKR 28.4

Attock Petroleum (APL) – BUY 
Current Price: PKR 381.14
Target Price: PKR 479.57

Amreli Steels Limited (ASTL) – BUY 
Current Price: PKR 36.47
Target Price: PKR 80.0

Bank Al-Habib (BAHL) – BUY 
Current Price: PKR 83.15
Target Price: PKR  97.64

Bank Al-Falah (BAFL) – BUY 
Current Price: PKR 44.64
Target Price: PKR  60.1

Bank of Punjab (BOP) – BUY 
Current Price: PKR 1 3.6
Target Price: PKR 18.3

Cherat Cement Co Limited (CHCC) – BUY 
Current Price: PKR 49.19
Target Price: PKR 71.00

D.G. Khan Cement Co. (DGKC) – BUY 
Current Price: PKR 75.37
Target Price: PKR 105.00

Engro Fertilizer (EFERT) – BUY 
Current Price: PKR 7 1.4
Target Price: PKR 91.0

Engro Foods (EFOODS) – BUY 
Current Price: PKR 62.68
Target Price: PKR 80.87

Engro Corporations (ENGRO) – BUY 
Current Price: PKR 319.7
Target Price: PKR 359.6

Engro Polymer & Chemical (EPCL) – BUY 
Current Price: PKR 3 3.8
Target Price: PKR 46.3

Fauji Fertilizer Bin Qasim (FFBL) – BUY 
Current Price: PKR 3 2.5
Target Price: PKR 43.5

Fauji Cement Company (FCCL) – BUY 
Current Price: PKR 1 7.2
Target Price: PKR 25.3

Gharibwal Cement Ltd (GWLC) – BUY 
Current Price: PKR 12.56
Target Price: PKR 25

Hascol Petroleum (HASCOL) – BUY 
Current Price: PKR 99.67
Target Price: PKR 234.57

Habib Bank Limited (HBL) – BUY 
Current Price: PKR 125.87
Target Price: PKR 143.25

HUB Power Co. (HUBCO) – BUY 
Current Price: PKR 77.12
Target Price: PKR 136.9

Indus Motors (INDU) – BUY 
Current Price: PKR 1,306.85
Target Price: PKR 1,426.6

Kot Addu Power Co. (KAPCO) – BUY 
Current Price: PKR 4 1.7
Target Price: PKR 61.4

Kohat Cement Company (KOHC) – BUY 
Current Price: PKR 7 7.5
Target Price: PKR 111

Lotte Chemical Pak Ltd. (LOTCHEM) – BUY 
Current Price: PKR 1 5.1
Target Price: PKR 25.3

Lucky Cement (LUCK) – BUY 
Current Price: PKR 396.05
Target Price: PKR 605.8

Mari Petroleum Ltd. (MARI) – BUY 
Current Price: PKR   1 ,199.9
Target Price: PKR 1,983.6

Muslim Commercial Bank (MCB) – BUY 
Current Price: PKR   189.29
Target Price: PKR 224

Meezan Bank Limited (MEBL) – BUY 
Current Price: PKR 96.14
Target Price: PKR 115.80

Maple Leaf Cement (MLCF) – BUY 
Current Price: PKR 30.97
Target Price: PKR 56.6

Millat Tractors Limited (MTL) – BUY 
Current Price: PKR 885.4
Target Price: PKR 1,017

National Bank of Pakistan (NBP) – BUY 
Current Price: PKR 40.74
Target Price: PKR 66.51

Nishat Chunian Limited (NCL) – BUY 
Current Price: PKR 47.55
Target Price: PKR 55.00

Nishat Chunian Power Limited (NCPL) – BUY 
Current Price: PKR 1 8.6
Target Price: PKR 27.8

Nishat Mills (NML) – BUY 
Current Price: PKR 126.19
Target Price: PKR 158.00

Nishat Power Limited (NPL) – BUY 
Current Price: PKR 2 3.2
Target Price: PKR 32.5

Oil & Gas Development Co. (OGDC) – BUY 
Current Price: PKR 144.43
Target Price: PKR 190

Pak Elecktron Ltd (PAEL) – BUY 
Current Price: PKR 21.89
Target Price: PKR 28.20

Pioneer Cement Limited (PIOC) – BUY 
Current Price: PKR 29.29
Target Price: PKR 46.0

Pakistan Oilfields (POL) – BUY 
Current Price: PKR 445.3
Target Price: PKR 593.0

Pakistan Petroleum (PPL) – BUY 
Current Price: PKR 177.03
Target Price: PKR 208

Pakistan State Oil (PSO) – BUY 
Current Price: PKR 212.94
Target Price: PKR 298.00

Sui Northern Gas Pipeline (SNGP) – BUY 
Current Price: PKR 7 2.6
Target Price: PKR 96.2

United Bank Limited (UBL) – BUY 
Current Price: PKR 132.72
Target Price: PKR 154.60

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