Karachi Stock Exchange Weekly Analysis 31 Aug, 2013

The Karachi Stock Exchange (KSE) market trend was bearish, KSE market witnessed technical correction, and profit taking. KSE – 100 index closed at 2 2,160.85 points by losing 554 points or -2.4 percent. While KSE-30 index reached on 17,250.47 by losing 366.74 points or -2.08 percent. Although average volumes traded did improve by 4%WoW to 204 million shares while US$ values traded declined by 16.1% WoW. On monthly basis the market lost nearly 5 percent of the market capitalization.

The week began on a positive note as State Bank of Pakistan’s (SBP) decision to postpone the Monetary policy statement (will now be announced September 13, 2013) boosted the market sentiment with KSE-100 rising by 0.9% on Monday.

Following news have played vital role in Karachi Stock Market index movement:


  • Tension between India and Pakistan escalated with exchange of fire over the border
  • Investors are concerned on a possible interest rate hike in this month’s monetary policy Widespread floods in the country stifled the performance of the stock market this week
  • Recent escalation of Middle East tension given impending US missile attack on Syria
  • Investors were also concerned over rising dollar against the rupee and government’s targeted operation in the city
  • The Privatization Commission has formally prepared a list of 71 Public Sector Entities (PSEs) for divestment on fast‐track basis, subject to reaffirmation by the Council of Common Interests (CCI) of its approved privatization program. The list includes banks, insurance companies, energy sector companies, PIA, National Fertilizer Company (NFC) and Pakistan Steel Mills
  • There were rumors regarding the breaking of the cement price arrangement. Lucky Cement Limited’s (LUCK) decision to resign from the APCMA on policy issues further dented investor confidence
  • Pakistan State Oil’s lower than expected dividend announcement allowed bears to regain control at the local bourse
  • Key data release of the week included, Banking spreads which shrunk further in July 2013 and Pakistan’s budget deficit clocking in at 8.2% in FY13
  • There were macro concerns over oil price spike over potential NATO strikes on Syria
  • Foreign inflows clocking in at US$2.3mn, due to continued pressure from regional/local sell‐off, and currency deval fears from oil price spike
  • Indus Motor Company (IMC) has raised prices of Toyota Corolla and other high powered engine vehicles by Rs20,000 to Rs50,000 effective 1st September
  • Implicit return of power companies are likely to increase with PKR depreciation, hence stock price of HUBC, KAPCO and KOHE outdid the market momentum
  • News of Engro FERT offer for sale pushed the stock price of ENGRO upwards, while result of the company was fairly impressive
  • CCAC revised downward the cotton production to 12.65mn bales against the initial estimates of 13.22mn bales for the current season 13‐14
  • Pakistan’s foreign exchange reserves rose by US$73 million to US$10.399 billion during the week ended August 16 from US$10.326 billion 
  • Consumer Price Index (CPI) inflation for the month of July 2013 jumped to 8.26 percent where monthly inflation depicted an over 2.0 percent increase
  • Three major results during the week belonged to PSO, Kot Addu Power Company Limited (Kapco) and Lotte Chemical Limited. PSO announced five rupees dividend, Kapco announced Rs7.5, while Lotte Chemical did not give any payout. PSO dividend remained below than expectations, which resulted in a decline of company’s share price by more than three percent
  • Reversal of provisions boosted Bank of Punjab results as well as the stock prices


Top ten gainers of last week were: Kohinoor Energy, Allied Rental Mod, Stand.Chart.Bank, Kot Addu Power Co., United Bank, Nestle Pakistan, Shifa International Hospitals, Nishat Chunian Power, Engro Corporation and Hub Power Company.

Top ten losers of last week were: GlaxoSmithKline Pak., Pakistan Cables, Jah.Sidd. Co., Netsol Technologie, Mari Petroleum, Askari Bank, Dawood Hercules Corp, Azgard Nine, P.S.O. and Bankislami Pakistan.

Top ten volume leaders were: BOP, FCCL, JSCL, NBP, PTC, LOTCHEM, LPCL, ENGRO, NIB, and SSGC.

Thank you very much for reading this article.

NOTE: The information posted in this blog (forum) is based on current affairs & investors point of view. There may be discrepancy in the ground realities.

Written by: Rana Khurram

Companies Results August 28, 2013

KOT ADDU POWER COMPANY LTD(KAPCO)
Profit/Loss (million): 1698.883
EPS: 8.35
Bouns/Dividend: 45%

ATLAS BATTERY LTD(ATBA)
Profit/Loss (million): 182.082
EPS: 40.15
Bouns/Dividend: 100% , 20% B

UNITED INSURANCE(UNIC)
Profit/Loss (million): 50.777
EPS: 1.38
Bouns/Dividend: NIL

KOHINOOR ENERGY LTD.(KOHE)
Profit/Loss (million): 250.799
EPS: 5.10
Bouns/Dividend: 72.50%

IGI INSURANCE LIMITED(IGIIL)
Profit/Loss (million): 113.758
EPS: 2.52
Bouns/Dividend: 10%

DADABOY SACK(DBSL)
Profit/Loss (million): (4.360)
EPS: (1.30)
Bouns/Dividend: NIL

DADABHOY CEMENT INDUSTRIES(DBCI)
Profit/Loss (million): (100.202)
EPS: (1.19)
Bouns/Dividend: NIL

DADABHOY CONSTRUCTION TEC.LTD(DCTL)
Profit/Loss (million): 0.046
EPS: 0.79
Bouns/Dividend: NIL

BANK OF KHYBER(BOK)
Profit/Loss (million): 242.720
EPS: 0.61
Bouns/Dividend: NIL

INDUS MOTOR(INDU)
Profit/Loss (million): 1627.806
EPS: 42.72
Bouns/Dividend: 150%

KASB BANK(KASBB)
Profit/Loss (million): (103.066)
EPS: (0.16)
Bouns/Dividend: NIL

ADAMJEE INSURANCE(AICL)
Profit/Loss (million): 809.018
EPS: 12.21
Bouns/Dividend: 25%

NESTLE PAKISTAN LIMITED(NESTLE)
Profit/Loss (million): 1600.759
EPS: 77.02
Bouns/Dividend: NIL

OTSUKA PAKISTAN LTD.(OTSU)
Profit/Loss (million): (22.700)
EPS: (0.31)
Bouns/Dividend: NIL

ATLAS INSURANCE LTD.(FORMERLY MUSLIM INSUR(ATIL)
Profit/Loss (million): 106.705
EPS: 3.07
Bouns/Dividend: NIL

LOTTE CHEMICAL LTD (PAKISTAN PTA LTD)(LOTCHEM)
Profit/Loss (million): (298.669)
EPS: (0.28)
Bouns/Dividend: NIL

Cyan Limited (Formely Central Insurance CoLimite)(CYAN)
Profit/Loss (million): 436.241
EPS: 12.90
Bouns/Dividend: 50%

FAYSAL BANK(FABL)
Profit/Loss (million): 492.069
EPS: 0.81
Bouns/Dividend: NIL

CRESENT STAR INSURANCE(CSIL)
Profit/Loss (million): 0.316
EPS: 0.03
Bouns/Dividend: NIL

UNILEVER PAKISTAN FOOD LIMITED(UPFL)
Profit/Loss (million): 214.163
EPS: 76.17
Bouns/Dividend: NIL

IBRAHIM FIBRES(IBFL)
Profit/Loss (million): 1192.347
EPS: 17.82
Bouns/Dividend: 20%

SILVER STAR INSURANCE(SSIC)
Profit/Loss (million): (14.894)
EPS: 0.04
Bouns/Dividend: NIL

PACKAGES LTD(PKGS)
Profit/Loss (million): 248.509
EPS: 10.72
Bouns/Dividend: NIL

LAFARAGE PAKISTAN CEMENT LTD(PAKISTAN CEMENT LTD)(LPCL)
Profit/Loss (million): 534.432
EPS: 0.66
Bouns/Dividend: NIL

ASKARI GENERAL INSURANCE(AGIC)
Profit/Loss (million): 28.599
EPS: 1.59
Bouns/Dividend: NIL

PREMIER INSURANCE LIMITED(PINL)
Profit/Loss (million): 15.905
EPS: 0.30
Bouns/Dividend: NIL

Philip Morris (Pak.) Ltd (Formely Lakson Tobbaco)(PMPK)
Profit/Loss (million): 34.322
EPS: 1.43
Bouns/Dividend: NIL

CLARIANT PAKISTAN(CPL)
Profit/Loss (million): 164.536
EPS: 12.80
Bouns/Dividend: NIL

UNITED BANK LIMITED(UBL)
Profit/Loss (million): 4314.346
EPS: 6.75
Bouns/Dividend: 20.00%

UNILEVER PAKISTAN(ULEVER)
Profit/Loss (million): 1638.000
EPS: 174.44
Bouns/Dividend: 246.50%

TPL Direct Ins. Limited(TDIL)
Profit/Loss (million): 16.463
EPS: 0.73
Bouns/Dividend: NIL

Silk Bank Ltd ( Saudi Pak Commercial Bank)(SILK)
Profit/Loss (million): (145.054)
EPS: (0.13)
Bouns/Dividend: NIL

GLAXOSMITHKLINE(GLAXO)
Profit/Loss (million): 309.490
EPS: 2.47
Bouns/Dividend: NIL

Jubilee Gen. Ins. Company Ltd (Formely NJICL)(JGICL)
Profit/Loss (million): 232.153
EPS: 3.35
Bouns/Dividend: NIL

PICIC INSURANCE(PIL)
Profit/Loss (million): 32.891
EPS: 0.71
Bouns/Dividend: NIL

JS GLOBAL CAPITAL LIMITED(JSGCL)
Profit/Loss (million): 70.606
EPS: 2.42
Bouns/Dividend: 35%

HABIB METROPOLITAN BANK(HMB)
Profit/Loss (million): 1022.972
EPS: 1.70
Bouns/Dividend: NIL

ENGRO CHEMICAL(ENGRO)
Profit/Loss (million): 835.460
EPS: 3.06
Bouns/Dividend: NIL

HABIB BANK LIMITED(HBL)
Profit/Loss (million): 4858.869
EPS: 7.46
Bouns/Dividend: 40%

Pakgen Power Limited(PKGP)
Profit/Loss (million): 445.472
EPS: 2.75
Bouns/Dividend: 10%

GENERAL TYRE &RUBBER CO.(GTYR)
Profit/Loss (million): 170.946
EPS: 6.61
Bouns/Dividend: 45%

NATIONAL BANK OF PAKISTAN LTD(NBP)
Profit/Loss (million): 2989.462
EPS: 2.83
Bouns/Dividend: NIL

SHELL PAKISTAN(SHEL)
Profit/Loss (million): 59.531
EPS: (0.76)
Bouns/Dividend: NIL

SNOFI AVENTIS PAKISTAN LIMITED(SAPL)
Profit/Loss (million): 78.346
EPS: 9.95
Bouns/Dividend: NIL

PAKISTAN GUM & CHEMICAL(PGCL)
Profit/Loss (million): 45.570
EPS: 15.52
Bouns/Dividend: NIL

CENTURY INSURANCE(CENI)
Profit/Loss (million): 48.072
EPS: 1.45
Bouns/Dividend: NIL

ALLIED BANK LIMITED(ABL)
Profit/Loss (million): 2700.626
EPS: 5.31
Bouns/Dividend: 12.50%

PAKISTAN PETROLEUM LIMITED(PPL)
Profit/Loss (million): 8447.688
EPS: 25.53
Bouns/Dividend: 55%, 20% B

FAUJI CEMENT(FCCL)
Profit/Loss (million): 524.332
EPS: 1.52
Bouns/Dividend: 12.5%

IFIC BANK (FORMLY) NDLC(NIB)
Profit/Loss (million): 322.561
EPS: 0.09
Bouns/Dividend: NIL

AKZO Nobel Pakistan Ltd(AKZO)
Profit/Loss (million): 152.639
EPS: 5.75
Bouns/Dividend: NIL

TRI-PAK FILMS(TRIPF)
Profit/Loss (million): 124.952
EPS: 7.93
Bouns/Dividend: NIL

Karachi Stock Exchange Weekly Analysis 23 Aug, 2013

The Karachi Stock Exchange (KSE) market trend was bearish, KSE feels the heat from regional sell-off. KSE – 100 index closed at 22,714.68 points by losing 958.62 points or 4.0 percent. Fear of contagion, tension between India and Pakistan, uncertainty over bi-elections in Pakistan, uncertainty over the monetary policy measures and fear of implementation of IMF’s stern conditions, widespread floods in the country, and below expected corporate results has kept investors away from the market.

According to analysts, corporate results will continue next week, which might keep mixed trade in the market. The monetary policy statement may also be delayed till September, which will also have some positive impact on the index. The International Monetary Fund (IMF) is scheduled to meet on September 4 and if the monetary policy statement was delayed till the IMF meeting, the State Bank of Pakistan might not increase the discount rate, which will boost trade in the market.

Following news have played vital role in Karachi Stock Market index movement:


  • Tension between India and Pakistan escalated with exchange of fire over the border
  • State Bank of Pakistan has postponed the monetary policy, which was scheduled to announce on 27
  • Investors are concerned on a possible interest rate hike in this month’s monetary policy (scheduled to be on August 27, 2013) 
  • Widespread floods in the country stifled the performance of the stock market this week
  • Below expected corporate results further exacerbated weak market sentiment as bears gained ground at the local bourse. This week saw corporate results of PPL, HUBC, NBP, HBL, UBL and Engro Corp. PPL, NBP, HUBC and Engro Corp reported result below expectations, which resulted in market weakness
  • Financial results of the cement companies were unable to drive investor’s interest
  • Pakistan registered a current account (CA) surplus of US$46mn in July 2013 vs. a deficit of US$427mn in July 2012
  • In order to re-build its depleting foreign exchange reserves and stabilize the exchange rate, the government is seeking US$500mn of short-term financing from foreign banks
  • Pakistan submitted a Letter of Intent to the IMF this week under Extended Fund Facility (EFF) for a loan worth $6.6 billion
  • MCB Bank profitability up by 6.1% QoQ
  • Pakistan’s foreign exchange reserves rose by US$73 million to US$10.399 billion during the week ended August 16 from US$10.326 billion 
  • PKR depreciated quite speedily to reach PKR103.66 against the greenback
  • After the government decision to enhance GST from 26% to 31% on CNG, the commodity price is likely to increase by PKR2.68/kg
  • Foreign portfolio investment saw arrival of $13.49 million in the market against $7.70 million last week
  • During the week current account surplus and improved textile exports showed economic recovery
  • In the outgoing week Prime Minister Nawaz Sharif’s speech fell short of investor’s anticipation, which magnified the bearish sentiment
  • Pak Rupee depreciated quite speedily to reach Rs 103.66 against the greenback
  • Consumer Price Index (CPI) inflation for the month of July 2013 jumped to 8.26 percent where monthly inflation depicted an over 2.0 percent increase


Top ten gainers of last week were: Netsol Technologies, IGI Insurance, J.D.W.Sugar, Askari Bank, Kohinoor Energy, ICI Pakistan, National Foods, TPL Trakker Ltd, Bank AL‐Habib and Habib Metro Bank.

Top ten losers of last week were: Security Paper, Cherat Cement, Clariant Pakistan, Grays Of Combridge, Pak Services, National Bank Of Pakistan, Pak.Int.Con, Lafarge Pakistan, GlaxoSmithKline Pak. and Engro Foods Ltd.

Top ten volume leaders were: FCCL, BOP, NBP, LPCL, EFOODS, HUBC, NIB, SSGC, KAPCO and ENGRO.

Thank you very much for reading this article.

NOTE: The information posted in this blog (forum) is based on current affairs & investors point of view. There may be discrepancy in the ground realities.

Written by: Rana Khurram

Companies Results - August 20, 2013

ZIL LTD (FORMELY ZULFIQAR IND. LTD)(ZIL)
Profit/Loss (million): (13.842)
EPS: 0.22
Bouns/Dividend: NIL

SONERI BANK LIMITED(SNBL)
Profit/Loss (million): 251.459
EPS: 0.55
Bouns/Dividend: NIL

JUBILEE LIFE INS. CO. LTD (NJLIC)(JLICL)
Profit/Loss (million): 269.891
EPS: 6.33
Bouns/Dividend: 25%

CHARAT CEMENT COMPANY LTD.(CHCC)
Profit/Loss (million): 301.078
EPS: 12.81
Bouns/Dividend: 15%

GOLDEN ARROW(GASF)
Profit/Loss (million): 340.734
EPS: 5.28
Bouns/Dividend: 22%

RAFHAN MAIZ PROD.(RMPL)
Profit/Loss (million): 545.199
EPS: 104.07
Bouns/Dividend: 300%

ABBOT LABORATORIES(ABOT)
Profit/Loss (million): 680.057
EPS: 11.64
Bouns/Dividend: 30%

HIGHNOON LABORATORIES(HINOON)
Profit/Loss (million): 43.281
EPS: 4.04
Bouns/Dividend: NIL

SITARA CHEMICALS(SITC)
Profit/Loss (million): 279.648
EPS: 48.35
Bouns/Dividend: 100%

HUB POWER CO(HUBC)
Profit/Loss (million): 1978.734
EPS: 8.11
Bouns/Dividend: 45%

PAK SUZUKI MOTOR COMPANY LIMITED(PSMC)
Profit/Loss (million): 794.556
EPS: 14.05
Bouns/Dividend: NIL

Linde Pakistan Limited (Formely BOC Pakistan Ltd)(LINDE)
Profit/Loss (million): 41.473
EPS: 3.69
Bouns/Dividend: 15%

JS GROWTH FUND(JSGF)
Profit/Loss (million): 604.208
EPS: 5.03
Bouns/Dividend: 22.50%

JS INVESTMENTS LIMITED(JSIL)
Profit/Loss (million): 39.562
EPS: 0.85
Bouns/Dividend: NIL

MILLAT TRACTORS LTD.(MTL)
Profit/Loss (million): 711.045
EPS: 53.12
Bouns/Dividend: 250% , 10% B

SAZGAR ENGINEERING(SAZEW)
Profit/Loss (million): 32.707
EPS: 3.70
Bouns/Dividend: 10%

MUSLIM COMMERCIAL BANK LTD(MCB)
Profit/Loss (million): 6119.322
EPS: 11.75
Bouns/Dividend: 35%

K.S.B.PUMPS(KSBP)
Profit/Loss (million): 40.639
EPS: 5.64
Bouns/Dividend: NIL

Karachi Stock Exchange Weekly Analysis 17 Aug, 2013

The Karachi Stock Exchange (KSE) market benchmark continued its upward journey slowly and gradually, KSE shrugs off Ramazan languor to kick-off upward trend. KSE - 100 index closed at 23,673.30 points by gaining 436.11 points or 1.9 percent with nearly 212 million shares average daily turnover. While KSE-30 index closed at 18,402.28 by gaining 325.73 or 1.80 percent.

Average trading volumes also surged by 22 percent on week-on-week basis to 221 million shares against 181 million because the working time at the market comes to normal after the end of Ramazan. Foreign portfolio investment saw arrival of $13.49 million in the market against $7.70 million last week.

Following news have played vital role in Karachi Stock Market index movement:


  • Tension between India and Pakistan escalated with exchange of fire over the border
  • PTA successfully blocked numerous servers and gateways of international carriers involved in grey telephony
  • ECC did not approve removal of subsidy on fertilizers in order to protect flood-hit farmers
  • Activity churned up in the oil and gas sector due to tensions in the Middle East because of Egypt as investors expect the sector to rebound on the back of rising international oil prices
  • SBP is likely to declare the monetary policy this month where investors are anticipating hike in discount rate in the range of 50bps to 150bps which can possibly impact the benchmark momentum in the upcoming days
  • The upcoming month inflation numbers would be crucial in determining the MPS stance
  • The SBP on Monday announced withdrawal of condition of National Tax Number (NTN) for all sale and outward transactions of foreign exchange from open currency market
  • Inflation ticked up to 8.3% YoY in July 2013 (from 5.9% a month prior) but real interest rate is still positive
  • In the later half the market swing in both the direction after news related to flood pushed the investors on the sideline from number of stocks
  • This week saw corporate results of Attock Group, with POL, ATRL and NRL reporting results significantly below expectations while APL posted earnings inline with our expectation with a bumper cash dividend and a surprise 20% bonus issue
  • Positive sentiment at the Karachi Stock Exchange lent strong support by rising foreign portfolio investment inflows, which were recorded at $13.5 million
  • Key results next week include HUBC, PSMC, NBP, ENGRO, PPL, HBL
  • Cement stocks were seen under stress after heavy rains were witnessed across the country
  • Cement manufacturers could look to increase cement prices by PKR 35-40 per bag
  • Power tariff hike will have a positive impact on cement and fertiliser stocks, besides increase in global oil prices
  • Attock Group announced its financial results which fell short of investor’s anticipation on account of payout
  • Majority of the banking stocks are likely to declare its financial results for the half year soon
  • News related to increase in the amount of IMF bailout package seems to be a good sign
  • Steel consumers in Pakistan are going to feel the maximum heat of the power tariff hike announced by the government as steel prices will go up by at least Rs5,000 per ton
  • The MoF here on Wednesday released Rs 19.5 billion power tariff subsidy to PEPCO to bridge the gap between power purchase and power sale price to the consumers during the month of July 2013 
  • Ministry of Industries and Production is to seek a bailout package of Rs 21 billion for a 'technically bankrupt' PSM. It has also been learnt that the PC is working on a plan to sell 26 percent shares of the mills 
  • Chevron has signed an agreement to sell Chevron Pakistan Limited, the entity which holds the Chevron retail, commercial and industrial sales, and aviation fuels businesses and is a shareholder in the PAPCO pipeline, to Total Parco Pakistan Limited 
  • In an alarming development, the Walt Disney Company has decided to cancel import orders worth $150 million after assessing that 16 textile companies handling their orders in Pakistan weren’t meeting international health and safety standards 
  • The PIA Turnaround Strategy, approved by its board of management, recommended immediate induction of 10 fuel efficient new generation of aircraft either Boeing737NG of the US or Airbus320 from France on dry lease instead of purchasing new aircraft 
  • The Ministry of Commerce & Textile Industry has rationalized the import of gold by jewellery exporters and removed the condition of import entitlement of gold equal to the gold content of jewellery actually exported 
  • Very high flood in River Chenab hundreds of central Punjab villages (in the districts of Sialkot, Gujrat, Narowal, Gujranwala, Hafizabad and Kasur) under floodwater
  • The E&P sector remained in focus on the back of rising international oil prices as tension flared in the Middle East


Top ten gainers of last week were: J.D.W.Sugar, Pak.Int.Con, IGI Insurance, Mari Petroleum, Siemens Pak Engg , Pakistan Cables, Netsol Technologie, JS Bank, International Industries and ICI Pakistan.

Top ten losers of last week were: Attock Refinery, NIB Bank, Security Paper, Indus Motor, Bata (Pak) Ltd., Engro Foods Ltd, Pak Reinsurance, Nishat Power, National Refinery and Pakistan Telecommunication.

Top ten volume leaders were: BOP, FCCL, NBP, JSCL, SSGC, ENGRO, TRG, NIB, PTC, and LPCL.

Thank you very much for reading this article.

NOTE: The information posted in this blog (forum) is based on current affairs & investors point of view. There may be discrepancy in the ground realities.

Written by: Rana Khurram

Company Results August 15, 2013

BATA PAKISTAN(BATA)
Profit/Loss (million): 311.252
EPS: 71.89
Bouns/Dividend: NIL

ATTOCK CEMENT(ACPL)
Profit/Loss (million): 657.248
EPS: 21.45
Bouns/Dividend: 100% , 15% B

PAKISTAN TOBACCO(PAKT)
Profit/Loss (million): 1003.227
EPS: 8.19
Bouns/Dividend: 20%

PAK ELEKTRON LTD.(PAEL)
Profit/Loss (million): N/A
EPS: N/A
Bouns/Dividend: 120% R

BANK ALFALAH LIMITED(BAFL)
Profit/Loss (million): 932.119
EPS: 1.44
Bouns/Dividend: NIL

PAKISTAN OIL FIELDS LTD.(POL)
Profit/Loss (million): 2202.242
EPS: 45.78
Bouns/Dividend: 250%

ATTOCK PETROLEUM LIMITED(APL)
Profit/Loss (million): 962.150
EPS: 56.52
Bouns/Dividend: 450% , 20% B

NATIONAL REFINERY LTD(NRL)
Profit/Loss (million): 909.220
EPS: 35.57
Bouns/Dividend: 150%

ATTOCK REFINERY LTD.(ATRL)
Profit/Loss (million): 680.638
EPS: 45.91
Bouns/Dividend: 25%

BOLAN CASTING(BCL)
Profit/Loss (million): 33.885
EPS: 2.16
Bouns/Dividend: 10% B

INVEST & FINANCE SECURITIES LIMITED(IFSL)
Profit/Loss (million): 65.394
EPS: 3.48
Bouns/Dividend: NIL

FATIMA FERTILIZER COMPANY LTD.(FATIMA)
Profit/Loss (million): 1683.217
EPS: 1.60
Bouns/Dividend: NIL

Karachi Stock Exchange Weekly Analysis 8 Aug, 2013

The Karachi Stock Exchange (KSE) market was characterized by acute volatility during this shortened week ahead of the Eid holidays. KSE - 100 index closed at 2 3,237.19 points by gaining 145.32 points or 0.63 percent while KSE-30 index closed at 18,076.55 points by gaining 133.71 points or  0.75 percent.

The market was badly affected by news i.e. law & order concerns, flash floods over the weekend, higher than expected CPI in Jul’13 (8.3% YoY) and disappointing results from EFOODS and OGDC.

Following news have played vital role in Karachi Stock Market index movement:


  • S&P’s affirmation of Pakistan’s ratings at ‘B-/B’
  • Inflation numbers over the weekend triggered the panic button where CPI inflation on M/M basis reached 2.02% taking Y/Y inflation to 8.26%
  • The higher inflation numbers pushed pessimism over investor’s mind backed by possible hike in discount rate
  • Power tariff for industrial and commercial consumer were raised, which may push the cost of production
  • The cement stocks were beaten hard by the investors as most of the stock witnessed sizable price adjustment. Massive downward revision is prices of cement stocks along with fertilizer stocks were witnessed
  • Local cement sales plunged by 10.43% while exports reduced by 0.75% in July 2013
  • Result season is likely to speed‐up after the long festival weekend where banks and oil companies are likely to declare the financial results. Some results due next week include BAFL, ATRL, APL, POL, PPL and MCB
  • Illiquid stocks topped among the major gainers list while banking stocks were also back in action
  • IDB will extend Euro 750mn and USD150mn loans for import of fertilizer. This was agreed between FM and President IDB at a meeting in Jeddah. Currently, FM is in Saudi Arabia to perform Umrah
  • Pakistan is set to become a net wheat importer this year with purchases climbing to the highest in five years after delayed planting and reduced fertilizer use hit domestic output and drove up local prices. The South Asian nation, which has been exporting wheat for the last 3‐years 
  • Issuance of new licenses to various pharmaceutical companies will lead to investments and employment opportunities as Pakistan’s pharmaceutical industry currently ranks sixth in the world with export potential of Rs 300bn and a growth rate of 17%
  • MoP hinted at the government's intention to renegotiate the price of IP pipeline. In reply to a question he said that Iran had made a commitment to extend USD500mn for laying the pipeline and Pakistan is now considering requesting Iran to lay down the entire pipeline at a cost of USD1.5bn project 
  • Local auto sector is likely to adjust prices upwards as a constant surge Êin the cost of production is pushing the manufacturing sector to raise the prices of their products. Inflated petroleum prices, a hike in electricity tariff and rupee depreciation have hit industries


Top ten gainers of last week were: NIB Bank, Clariant Pakistan, Mari Petroleum, Dawood Hercules Corp, Colgate Palmolive, Millat Tractors, Jubilee General Insurance, Hum Network, Soneri Bank and Bank Al‐Falah.

Top ten losers of last week were: IGI Insurance, Sui North Gas Pipe, Engro Foods Ltd, GlaxoSmithKline Pak., Fauji Cement Company, Engro Corporation, Packages Ltd, Lafarge Pakistan, Thal Ltd and Jah.Sidd. Co.

Top ten volume leaders were: FCCL, BOP, NBP, PTC, EFOODS, ENGRO, NIB, LPCL, BAFL and PSO.

Thank you very much for reading this article, and a very Happy Eid Mubarak to you and your family.

NOTE: The information posted in this blog (forum) is based on current affairs & investors point of view. There may be discrepancy in the ground realities.

Written by: Rana Khurram

Company Results August 06 2013

PAKISTAN CABLES(PCAL)
Profit/Loss (million): 56.924
EPS: 6.22
Bouns/Dividend: 40.00%

KASB SECURITIES LIMITED(KASBSL)
Profit/Loss (million): 37.909
EPS: 0.50
Bouns/Dividend: NIL

OIL & GAS DEVELOPMENT CORP.LTD(OGDC)
Profit/Loss (million): 15096.229
EPS: 21.11
Bouns/Dividend: 27.50%

ENGRO POLYMER & CHEMICALS LTD(EPCL)
Profit/Loss (million): 72.844
EPS: 0.36
Bouns/Dividend: NIL

TANDLIAWALA SUGAR MILLS LTD.(TSML)
Profit/Loss (million): 184.811
EPS: 0.45
Bouns/Dividend: N/A

SAMBA BANK LTD (FORMALY CRECENT COMMERCIAL BANK )(SBL)
Profit/Loss (million): 11.172
EPS: 0.03
Bouns/Dividend: NIL

ANSARI SUGAR(ANSS)
Profit/Loss (million): 230.736
EPS: 4.54
Bouns/Dividend: NIL

Abdullah Shah Ghazi Sugar Mill(Al-Asif Sugar mil)(AGSML)
Profit/Loss (million): 3.664
EPS: 0.10
Bouns/Dividend: NIL

SECURITY PAPERS(SEPL)
Profit/Loss (million): 25.924
EPS: 7.78
Bouns/Dividend: 40% , 20% B

ATLAS HONDA(ATLH)
Profit/Loss (million): 488.895
EPS: N/A
Bouns/Dividend: NIL

AL-ABBAS SUGAR(AABS)
Profit/Loss (million): 99.971
EPS: 21.27
Bouns/Dividend: NIL

FARAN SUGAR(FRSM)
Profit/Loss (million): 50.709
EPS: 8.00
Bouns/Dividend: NIL

BABA FARID SUGAR(BAFS)
Profit/Loss (million): (83.158)
EPS: (19.31)
Bouns/Dividend: NIL

SAKRAND SUGAR(SKRS)
Profit/Loss (million): (70.364)
EPS: (11.36)
Bouns/Dividend: NIL

COLONY SUGER MILLS LTD(CSUML)
Profit/Loss (million): 116.196
EPS: 2.34
Bouns/Dividend: NIL

EXIDE PAKISTAN(EXIDE)
Profit/Loss (million): 102.229
EPS: N/A
Bouns/Dividend: NIL

DEWAN SUGAR(DWSM)
Profit/Loss (million): (141.933)
EPS: (3.46)
Bouns/Dividend: NIL

Karachi Stock Exchange Weekly Analysis 2 Aug, 2013

The Karachi Stock Exchange (KSE) market is in consolidation phase, finally correction has set in the market which pulled the benchmark lower, due to continuous political uncertainty in the country regarding presidential election and related controversial political and judicial moves, which affected investor sentiment. KSE – 100 index closed at 23,091.87 points by losing 405.20 points or -1.7 percent. Average daily volumes too were sluggish at 198mn shares, down 34%WoW. While KSE-30 index has reached on 17,942.84 by losing 397.57 or -2.17 percent.

Average trading volumes also decreased by 34 percent to 198 million shares against 302 million shares because of reduced working timings at the market. Stock market likely to show mix trend next week, Profit-taking may continue next week as well but strong results can support the market. Market usually remains mixed during Ramazan but investor’s interest may be revived after Eid.

Following news have played vital role in Karachi Stock Market index movement:


  • The comfortable election of PML‐N backed Mamnoon Hussain as Pakistan’s 12th President
  • Inflation numbers for the month of July, 2013 clocked in at 8.26% while M/M inflation jumped by 2.02%. The massive jump in inflation was largely on account of budgetary implications along with Ramadan factor 
  • The Council of Common Interest (CCI) approved the National Power Policy 2013-18
  • The recent announcement of energy policy where power tariffs are scheduled to increase for commercial and industrial units from August 1, 2013 whereas residential tariff are likely to increase from October 1, 2013. The tariff rise is likely to have a mildly negative impact on corporate earnings 
  • The increase in the fuel prices and electricity tariff would reflect in the inflation numbers for the month of August, 2013
  • Federal government is gearing up to start energy efficiency audit of fertilizer sector which is operating at 32‐35% as compared to international benchmark of 60‐65% level 
  • Pakistan is expecting to receive USD1bn loan from ADB and WB during the ongoing FY14 following the deal with IMF
  • New York listed Vimpelcom, which has operations in Russia, Italy and various emerging markets, put some African assets on the block last year to focus on larger markets and cut its debt 
  • BAFL will be the key beneficiary of the likely acquisition of Warid by Etisalat as following a deal every PKR1.0/share gain should add 24 paisas/share to BAFL’s bottomline,. With the ongoing developments regarding the Abu Dhabi Group sale of its 100% stake in WTPL
  • The government fired MD of PSO, and appointed Amjad Parvez Janjua in his place on a temporary basis
  • ECC of the Cabinet meeting on Tuesday imposed a 30‐day ban on import of gold by suspending operation of SRO266(1)/2001 from July 31, 2013
  • ECC directed MoP to carry out a study within 45 days for revision of OMC margins
  • The Supreme Court on Wednesday granted three weeks to Federation to appoint a full‐time Chairman of PIA
  • Urea sales reported 45% YoY decline while DAP sales were up 41% YoY, taking 2Q13 sales to ‐20% and +55% YoY
  • Key results this week included results of FFC, EFOODS and MEBL
  • Fauji Fertilizer Company posting earnings per share of Rs7.46 for first half calendar year 2013 and having remained above expectations, while Engro Foods announced earnings of only Rs1.46 per share disappointing the investors
  • This week foreign portfolio investment saw arrival of only $0.56 million in the market against the flight of $138.01 million last week because of German Power Company’s exit from Kot Addu Power Company
  • In KSE-100 index, the highest drop of 220.91 points was witnessed on last working day of the week Thursday on concerns of inflations and expectations of an increase in the discount rate because of higher inflation numbers
  • The rupee shed 2.1% of its value against the US dollar in July alone
  • Senator John Kerry arrived in Pakistan to hold talks with the country’s leadership
  • Key results next week include Fatima, OGDC and EPCL


Top ten gainers of last week were: Siemens Pak Engg, Mari Petroleum, Sui South Gas, Netsol Technologies, Pak.Int.Con, GlaxoSmithKline Pak., Indus Motor, Pak Reinsurance, Pak Tobacco Co and Security Paper.

Top ten losers of last week were: Engro Foods Ltd, Kohinoor Energy, Lafarge Pakistan, Fauji Cement Company, Faysal Bank, Engro Corporation, Dawood Hercules Corp, Rafhan Maize Prod, Cherat Cement and Attock Cement.

Top ten volume leaders were: FCCL, NBP, BOP, PTC, SSGC, LPCL, ENGRO, PSO, DGKC, and SNGP.

Thank you very much for reading this article.

NOTE: The information posted in this blog (forum) is based on current affairs & investors point of view. There may be discrepancy in the ground realities.

Written by: Rana Khurram