Karachi Stock Exchange Weekly Analysis 25 January, 2015

The Karachi Stock Exchange (KSE) market continued its rally through the first half of the week before profit taking limiting the KSE-100 index to 34,027pts, still up by 0.71%WoW. KSE-100 index closed on 3 4,027 by gaining 241 points or 0.71% while KSE-30 index closed on 22,104 by gaining 305 points or 1.40%.

According to analysts profit taking could continue next week and 1 percent cut in DR will create positive impact on market movement. Key developments to watch out for include the finalization of Drug Policy and incoming results (including EFOODS, MLCF, POL, PPL, HCAR and FFBL). Trading activity was somewhat subdued as an average daily volume of 302mn shares was witnessed in the week depicting a decline of 9% W/W. Penny stocks took the top spot on the leader‐board as JSCL, LPCL, KEL and TRG grabbed the leading spots.

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

  • 1 percent (100 bps) Discount rate cut has been announced in Monetary policy
  • A dearth of POL product supplies afflicted the country with the largest OMC, PSO suffering from liquidity pressures restricting its ability to import supplies, the GoP responded by shuffling major officials, while the PM reacted by releasing PkR17bn and later PkR51bn to PSO
  • The CA deficit expanded by 18%YoY to US$2.36bn, despite a surplus of US$76mn in Dec’14
  • Total liquid foreign reserves saw a second consecutive decline in two weeks coming in at US$15.02bn for the week ended 16 Jan’15, falling 0.2%WoW on account of debt servicing
  • LSM has registered growth of 2.5%YoY during 5MFY15 due to low production of steel and delay in sugar crushing
  • The recent laggard OGDC garnered investor interest with international oil price consolidating, and OGDC being relatively well placed to bear the brunt of lower oil. OGDC added 111 points to the index with fertilizer names FFC and ENGRO cumulatively adding 179 points to the index on rumors of fertilizers being exempted from the expected gas tariff hike
  • Foreigners remained net buyers, buying shares worth USD6mn, but shy of USD 17.6mn during the previous week
  • Rs 1.70 per unit increase: Ex-post facto approval accorded by ECC
  • SECMC can supply 660MW coal-based power if financial closure ready
  • Yields on T-bills cut to below 9pc
  • Chief Executive Hub Power Company (Hubco) Khalid Mansoor said Monday that Independent Power Producers (IPPs) are on the verge of collapse due to mounting circular debt which is hovering around Rs 220 billion
  • HUBC announced that it will set up 1,320MW coal‐based power plants next to its thermal power station at Hub in Baluchistan and gradually enhance coal based generation to 3,600MW
  • The expected approval of the long pending textile policy geared‐up momentum in textile plays with the Nishat’s blue chip leading the pack
  • The cement sector remained in the limelight in the second leg of the week upon LPCL’s share acquisition being announced at PKR19.4/share by the Bestway group from the general public. The acquisition price failed to excite investors as market pundits were expecting a higher rate
  • Anticipation of a stellar payout propelled the Fauji twins towards a new high with FFC scoring an unprecedented upper circuit
  • The automobile sector was spearheaded by INDU that witnessed steamy gains storming ahead of the 1K mark
  • A shadow of dark clouds kept chasing KEL as the stock traded in red for most part of the week with no extension insight of its supply agreement of 650MW electricity with WAPDA
  • PM ordered the suspension of three top officials of the MoP and the PSO chief connection with the week‐long petrol shortage in Punjab. After getting a briefing from the officials concerned, Mr Sharif suspended Petroleum Secretary, Additional Secretary Director General (Oil) and MD of the PSO
  • The current oil crisis has already brought down electricity generation by over 2,000MW, raising the deficit to 7,000MW and cutting supplies to half of the total demand of over 14,000MW. More power plants are likely to suspend working in a few days because they are running out of furnace oil, the power sector’s managers warned
  • Ismail Industries Limited (Candyland) is constantly increasing its shareholding in BoK and has acquired a total of 11.9mn shares in the last couple of weeks, a statement. Details disseminated by the BoK, Ismail Industries acquired 2mn shares on January 7, 2.5mn shares on January 9, 2.5mn shares on January 13, 2.5mn shares on January 14 and 2.4mn shares on January 15, from the open market, making it a total of 11.9mn
  • Punjab CM the government had decided to set up an LNG Power Park, which would produce 1,000 MW of electricity
  • Broadband services depict 40% growth with 3.79m subscribers
  • Pharmaceutical manufacturers sought a 15% increase in the prices of generic and branded medicines in order to protect the industry from financial losses
  • ECC of the Cabinet is likely to approve drug pricing policy. ECC meeting convened by FM is likely to take up a four‐point agenda. However, as usual, there is a possibility that some proposals may be circulated among the members of the ECC during the meeting for consideration and approval

Top gainers of last week were: Indus Motor, Mari Petroleum, Pace (Pak) Ltd., Engro Corp, Shezan International Ltd., Lotte Chemical Pakistan, Meezan Bank, P.S.O., Fauji Fertilizer Co. and Pakgen Power Ltd.

Top losers of last week were: Pakistan Cables, Colgate Palmolive, K‐Electric, NIB Bank, Nishat Chunian, National Foods, TRG Pakistan Ltd, Archroma Pakistan, Netsol Technologies and Nestle Pakistan.

Top ten volume leaders: JSCL, LPCL, MLCF, KEL, TRG, LOTCHEM, HUMNL, FCCL, ENGRO, NBP, and FFC.

Following are few BUY recommendations:

Engro Polymer Chemicals (EPCL) – BUY
Current Price: PKR 13.0
Target Price: PKR 16.5

Pak Oilfields (POL) – BUY
Current Price: PKR 379.9
Target Price: PKR 448.00

Nishat Mills (NML) – BUY
Current Price: PKR 133.9
Target Price: PKR 163.5

Allied Bank Limited (ABL) – BUY
Current Price: PKR 113.4
Target Price: PKR 140.0 

Oil & Gas Development Co. (OGDC) – BUY
Current Price: PKR 217.29
Target Price: PKR 282

Pakistan Petroleum (PPL) – BUY
Current Price: PKR 177.19
Target Price: PKR 221

Habib Bank Limited (HBL) – BUY
Current Price: PKR 212.36
Target Price: PKR 262.00

Bank Al-Falah (BAFL) – BUY
Current Price: PKR 33.70
Target Price: PKR 39

Pak Suzuki (PSMC) - BUY
Current Price: PKR 401.01
Target Price: PKR 495.00

Following are few SELL recommendations:

Indus Motors (INDU) – SELL
Current Price: PKR 1,075.2
Target Price: PKR 824.6

Engro Corporation (ENGRO) – SELL
Current Price: PKR 277.6
Target Price: PKR 196.2

Dawood Hercules Limited (DAWH) – SELL
Current Price: PKR 111.1
Target Price: PKR 71.8

Hub Power Co (HUBCO) – SELL
Current Price: PKR 83.91
Target Price: PKR 71.00

Kot Addu Power Co (KAPCO) – SELL
Current Price: PKR 80.48
Target Price: PKR 58.00

Pakgen Power Ltd. (PKGP) – SELL
Current Price: PKR 33.16
Target Price: PKR 24.00

National Bank (NBP) – SELL
Current Price: PKR 70.22
Target Price: PKR 53.00

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.

Written by: Rana Khurram

Karachi Stock Exchange Weekly Analysis 17 January, 2015

The Karachi Stock Exchange (KSE) market remained upbeat for a 4th consecutive week. KSE-100 index closed on 33,786 by gaining 461 points or 1.39% while KSE-30 index closed on 21,799 by gaining 179 points or 0.83%.

ADTO rose 12.2% WoW to 331.5mn shares. Average daily value traded dipped 4.2% to US$147.1mn. FIPI witnessed an inflow of US$17.6mn, compared to outflow of US$6.1mn last week.

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

  • The main stories being a mild recovery in oil stocks and exultant sentiments on Macro’s
  • Average volumes registered an uptick of 12% W/W as jobbers propelled interest in penny plays with activity concentrated in JSCL, TRG, BOP and KEL
  • Financials came in limelight with the sector adding 210 points to the index. MCB emerged as the standout winner in the sector, rising by 4.8% while UBL gained 3.5%. Oils on the other hand which were gainers last week turned laggards with the sector shedding 228points
  • Cement stocks were seen under pressure earlier in the week as rumors of a price cut prompted investors to take profits, while they recovered in the later half amid clarity regarding prices being unchanged
  • In the outgoing week EFOODS showed buoyancy driven by anticipation of a spike in its margins and the company’s consolidation drive with its focus strategy bearing fruit
  • ENGRO marched further into green amid euphoric sentiments centered on finance cost savings in the wake of monetary easing and bright prospects of LNG and fertilizer business
  • KEL was back in action on the last trading day of the week after an in‐principle approval of an extension in the supply of 650MW electricity from WAPDA
  • PIAA gathered steam in the week led by lower fuel costs which may translate into an improved bottom‐line
  • Alpha hunters and value seekers were active in banking plays as payout expectations propelled UBL and NBP
  • Foreign investors were net buyers during the week showing interest in FMCG’s as an overall inflow of USD10.9mn was recorded, taking the tally for the month to a negative US$ 8.75 million
  • ECC of the Cabinet has approved a sovereign guarantee for issuance of PKR25bn TFC for power distribution companies from a consortium of commercial banks
  • The freefall in oil prices is likely to help the national flag carrier Pakistan International Airlines save more than PKR 25 billion this year, a company’s
  • In the outgoing week the Rupee lost some ground against the greenback as the FX reserves held at SBP dialed in at US$ 10.365 billion showing a dip of US$ 111 million
  • Saudi Arabia has shown its willingness to supply crude oil to Pakistan at a subsided rate of US$40/bbl
  • Remittances rise by 15% to US$
  • Engro Fertilizers converts IFC loan into equity
  • Consumers are expected to get a relief of about PRs3.0/KWh in power tariff next month for braving extensive load shedding last month
  • The central bank would unveil its much awaited Monetary Policy Statement (MPS) on Jan‐24
  • High dividend yield scrips like FFC (up 2.2% WoW) and HUBCO (up 4.6% WoW) continued to witness strong investor interest
  • The govt approved to impose a 15% regulatory duty on the import of steel products which triggered a rally in the local steel manufacturers
  • Corolla continued to be the stand out performer with INDU clocking in 51% YoY growth during 1HFY15
  • PSO held steady with the govt releasing PRs17.5bn to the company which helped defy rising expectations of inventory losses in 2Q
  • ECC approves three surcharges on power tariff
  • Duty imposed on Mobile Set and Steel products
  • Agreement of Pakistan and China to enter into the second round of Free Trade Agreement (FTA), aimed to address reservations of Pakistan

Top gainers of last week were: Pakistan Cables, Shifa International Hospitals, Arif Habib Corp, Hum Network Ltd, Dawood Hercules Chem, National Foods, Kohinoor Textile, Jah.Sidd. Co., Attock Petroleum and Avanceon Ltd.

Top losers of last week were: P.T.C.L.A, Pak Petroleum, Pak Oilfields, Oil and Gas Deve, Soneri Bank, Jubilee Life Ins, Lafarge Pakistan, Engro Fertilizer, Packages Limited and Attock Cement Ltd.

Top ten volume leaders: JSCL, KEL, TRG, BOP, HUMNL, MLCF, FCCL, DGKC, LOTCHEM, ENGRO, and LPCL.

Following are few BUY recommendations:

Fatima Fertilizer Co. (FATIMA) - BUY
Current Price: PKR 36.86
Target Price: PKR 43.00

Oil & Gas Development Co. (OGDC) – BUY
Current Price: PKR 207.97
Target Price: PKR 282

Pak Oilfields (POL) – BUY
Current Price: PKR 380.52 
Target Price: PKR 538.3

Pakistan Petroleum (PPL) – BUY
Current Price: PKR 176.99 
Target Price: PKR 221

Allied Bank Limited (ABL) – BUY
Current Price: PKR 114.80 
Target Price: PKR 177.00

Habib Bank Limited (HBL) – BUY
Current Price: PKR 215.70 
Target Price: PKR 262.00

Bank Al-Falah (BAFL) – BUY
Current Price: PKR 33.74
Target Price: PKR 39

Engro Polymer Chemicals (EPCL) – BUY
Current Price: PKR 13.5
Target Price: PKR 16.5

Nishat Mills (NML) – BUY
Current Price: PKR 131.2
Target Price: PKR 163.5

Following are few SELL recommendations:

Hub Power Co (HUBCO) – SELL
Current Price: PKR 84.19
Target Price: PKR 71.00

Kot Addu Power Co (KAPCO) – SELL
Current Price: PKR 79.03
Target Price: PKR 58.00

Nishat Power Ltd (NPL) – SELL
Current Price: PKR 45.00
Target Price: PKR 38.00

Pakgen Power Ltd. (PKGP) – SELL
Current Price: PKR 31.52
Target Price: PKR 24.00

National Bank (NBP) – SELL
Current Price: PKR 70.47
Target Price: PKR 53.00

Engro Corporation (ENGRO) – SELL
Current Price: PKR 246.0
Target Price: PKR 196.2

Dawood Hercules Limited (DAWH) – SELL
Current Price: PKR 113.5
Target Price: PKR 71.8

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

Karachi Stock Exchange Weekly Analysis 11 January, 2015

The Karachi Stock Exchange (KSE) market remained upbeat for a third consecutive week with KSE-100 rallying 1.8% WoW (593pts) prior to upcoming monetary policy announcement next week. The market set a new all-time high this week, rising 1.8%WoW to close at 33,325 points. KSE-100 index closed on 33,325 by gaining 593 points or 1.8% while KSE-30 index closed on 21,620 by gaining 386 points or 1.82%.

Trading activity continued its upward trend, picking up by 19% WoW, and averaged at 203mn. Foreigners remained sellers, selling USD6.1mn worth of shares. Investors shall continue to be watchful of foreign outflows, while DR cut expectation (we expect 100bps cut) in upcoming monetary policy will keep interest alive in yield and leveraged plays. Because, Initially lower inflation numbers in the month of December’14 and reduction in petroleum prices signalled the discount rate cut.

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

  • E&Ps defied international oil prices with the sector gaining 3.7% WoW. OGDC, PPL and POL increased 4.7%, 3.6% and 3.8% WoW. Dairy stocks also remained in limelight with NESTLE and EFOODS gaining 21.2% and 3.6% WoW
  • Pakistan’s total crude oil production crossed the 100,000 bpd mark, the highest for the country
  • NESTLE, OGDC and DAWH contributed 165pt, 116pts and 98pts to index during the week
  • Power sector receivables soar to PKR590bn
  • Plan finalized to set up 5,600MW projects
  • Cement sales up 6% in July-Dec
  • Yield on T-bills slashed
  • EFERT recently signed an agreement with Guddu Thermal Power Station (GTPS), for right to use 60mmcfd temporary gas until Dec-2015
  • The activity from corporate, banks and mutual funds remain robust where majority of them were active on the buying side
  • News related to closure of 650MW electricity supply to KEL from national grid created a panic amongst KEL lovers
  • In the preceding few days robust activity was seen in NESTLE where the stock gained nearly PKR1,925/share in the outgoing week
  • Pakistan’s per capita income rose by 10.9% to PKR143,808 for the FY14 pared with PKR129,569 in the previous year as the country is on track to transform its economy, the SBP
  • The country is poised to produce bumper cotton crop this season FY15 as phutti (seed cotton) arrivals jumped 10.16% to 13.96mn bales up to January 1, 2015 compared to 12.670 mn bales in the corresponding period last season FY14. Both Punjab and Sindh recorded higher cotton production this season
  • Forex reserves inch up to US$15.21bn
  • Fauji Fertilizer seeks justification for gas supply to Engro
  • A case involving losses of PRs13.9bn in the Bangladesh branch of National Bank of Pakistan (NBP) will be sent to the National Accountability Bureau (NAB) for investigation
  • Investors are also excited about the upcoming earning season with the banking and fertilizer sectors due to announce their full year earnings for 2014. The banking sector in particular is expected to post record earnings and has witnessed significant gains in the past few weeks

Top gainers of last week were: Nestle Pakistan, Dawood Hercules Chem, NIB Bank, Shifa International Hospitals, Bata (Pak) Ltd., Pak Suzuki Motor, Attock Refinery Ltd., P.T.C.L.A, Pakgen Power Ltd. and Century Paper.

Top losers of last week were: Pak Tobacco Co, Colgate Palmolive, Grays Of Combridge, Nishat Chunian Power, Muree Brewery Co Ltd, Avanceon Ltd, Abbott Lab, Arif Habib Corp, EFU Life Assur Ltd. and Nishat Power Ltd.

Top ten volume leaders: KEL, JSCL, MLCF, NIB, ENGRO, FCCL, PTC, FATIMA, AICL, DGKC, and BOP.

Following are few BUY recommendations:

Fatima Fertilizer Co. (FATIMA) - BUY
Current Price: PKR 37.27
Target Price: PKR 43.00

Oil & Gas Development Co. (OGDC) – BUY
Current Price: PKR 218.31
Target Price: PKR 282

Pak Oilfields (POL) – BUY
Current Price: PKR 399.6
Target Price: PKR 538.3

Pakistan Petroleum (PPL) – BUY
Current Price: PKR 186.14
Target Price: PKR 221

Allied Bank Limited (ABL) – BUY
Current Price: PKR 113.19
Target Price: PKR 177.00

Habib Bank Limited (HBL) – BUY
Current Price: PKR 217.54
Target Price: PKR 262.00

United Bank Ltd (UBL) – BUY
Current Price: PKR 174.3
Target Price: PKR 210.0

Bank Al-Falah (BAFL) – BUY
Current Price: PKR 33.92
Target Price: PKR 39

Pak Suzuki (PSMC) – BUY
Current Price: PKR 392.11
Target Price: PKR 495.00

Engro Polymer Chemicals (EPCL) – BUY
Current Price: PKR 13.4
Target Price: PKR 16.5

Following are few SELL recommendations:

Kot Addu Power Co (KAPCO) – SELL
Current Price: PKR 79.67
Target Price: PKR 58.0

Nishat Power Ltd (NPL) – SELL
Current Price: PKR 45.53
Target Price: PKR 38.00

Pakgen Power Ltd. (PKGP) – SELL
Current Price: PKR 31.47
Target Price: PKR 24.00

Engro Corporation (ENGRO) – SELL
Current Price: PKR 246.0
Target Price: PKR 196.2

Dawood Hercules Limited (DAWH) – SELL
Current Price: PKR 102.4
Target Price: PKR 71.8

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

Karachi Stock Exchange Weekly Analysis 4 January, 2015

The Karachi Stock Exchange (KSE) market movement was bullish. The Karachi Stock Exchange maintained bull-run during the outgoing week, as the KSE-100 Index hit an all-time high to close above 32,000 points, amid low inflation numbers. KSE-100 index closed on 32,731 by gaining 738 points or 2.3%, while KSE – 30 index closed on 21,234 by gaining 454 points or 2.18%.

Average daily volume rose by 3.4 percent to 232 million shares per day against 225 million shares.

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

  • CPI inflation up 4.3 percent in December
  • Cement and fertilizer sectors led the rally on strong earnings outlook for October-December 2014 quarter, while pharmaceuticals lagged behind due to the proposed drug policy
  • New IPO SPEL coming Date 6, 7 January, 2015. Price Rs. 30 / share
  • Disbursements of US$1.6bn from multilateral and bilateral donors during 5MFY15 pushing total liquid FX reserves to US$15.09bn at the start of the week, with the US promising to release US$532mn as part of the Kerry‐Lugar Act
  • Ministry of Water and Power imposing a PkR0.6/KwH surcharge on electricity tariffs lowering the proposed reduction in fuel adjustment surcharge to PkR2.37/KwH
  • 20 percent increase in gas price likely
  • Foreign reserves decline by $60m
  • Cement prices reduce by up to Rs20/bag
  • Pharmaceutical producers in a fix on DRAP’s hostile drug policy
  • Attock Cement has signed a MoU with K‐Electric for the installation of 40MW coal fired power plant at its factory situated in Hub, Balochistan
  • Across the world: Islamic banking assets cross $2t
  • Corporate income tax returns filing dropped by 47 percent
  • The Pakistani Rupee was trading at Rs. 100.70 / $US at the end of the week and Rs.100.65/ $US in the beginning of the week
  • Gold was trading at $1182.00 at the end of the week (week’s beginning: $1197.90), Silver was trading at $15.70 at the end of the week (week’s beginning: $16.10 ) and Crude Oil was trading at $53.45 at the end of the week (week’s beginning: $56.47)
  • Soft CPI inflation at 4.3 percent on year-on-year basis for December 2014 boosted the sentiment, as investors’ eye a discount rate cut in the upcoming monetary policy statement scheduled to be announced this month
  • PPL has struck oil and gas at its exploration well in Sanghar District, Sindh, the state-run firm said on Friday, referring to a region where the company previously made five successful discoveries during the year. PPL said the well produced a flow rate of 2100 barrels per day condensate and 11.05 mn cubic feet of gas per day in the initial test
  • Index heavy weight MCB alone contributed 102pts to the index while LUCK, ENGRO, FCCL and NATF collectively added 210pts during the week
  • EFERT, NATF, EFUL, EFOODS and FCCL remained in the limelight and gained 15.3%, 14.0%, 13.3%, 13.2% and 12.7% WoW respectively
  • SECP grants permission to Bank Islami for right shares
  • The government gave a mixed New Year gift to the nation on Wednesday by reducing oil prices by up to 13%. But at the same time it imposed an additional 5% general sales tax on all petroleum products
  • The government has missed its half‐year tax collection target by a margin of PRs 90 billion, a gap that is expected to widen further
  • Decline in urea sales by 15 percent on year-on-year basis in November 2014
  • Reduction in petroleum products prices by Rs6.25 to Rs14.14 per litre
  • Collection of tax revenue by the Federal Board of Revenue rising by 12 percent on year-on-year basis in 1HFY15

Top gainers of last week were: Engro Fertilizer, National Foods, EFU Life Assurance Ltd., Engro Foods Ltd., Fauji Cement Ltd., Arif Habib Corporation, Murree Brewery Co Ltd., Avanceon Ltd., Cherat Cement, and Kohinoor Textiles.

Top losers of last week were: Pak Suzuki Motor, J.D.W Sugar, Sui South Gas, Searle Pak, Abbot Lab, Sui North Gas Pipeline, Archroma Pakistan, Colgate Palmolive, United Bank, and Oil and Gas Development.

Top ten volume leaders: BOP, MLCF, BAFL, PTC, AICL, EFERT, JSCL, ABOT, ENGRO, LPCL, and FCCL.

Following are few BUY recommendations:

Engro Polymer Chemicals (EPCL) - BUY
Current Price: PKR 12.49
Target Price: PKR 16.5

Oil & Gas Development Co. (OGDC) – BUY
Current Price: PKR 208.56
Target Price: PKR 282

Pak Oilfields (POL) – BUY
Current Price: PKR 384.87
Target Price: PKR 448

Pakistan Petroleum (PPL) – BUY
Current Price: PKR 179.69
Target Price: PKR 221

Attock Petroleum (APL) – BUY
Current Price: PKR 532.77
Target Price: PKR 612.00

Allied Bank Limited (ABL) – BUY
Current Price: PKR 114.03
Target Price: PKR 177.00

Habib Bank Limited (HBL) – BUY
Current Price: PKR 218.80
Target Price: PKR 262.00

Bank Al-Falah (BAFL) – BUY
Current Price: PKR 33.94
Target Price: PKR 39

K-Electric Limited (KEL) – BUY
Current Price: PKR 9.6
Target Price: PKR 12.1

Following are few SELL recommendations:

Kot Addu Power Co (KAPCO) – SELL
Current Price: PKR 80.01
Target Price: PKR 58.0

Nishat Power Ltd (NPL) – SELL
Current Price: PKR 47.43
Target Price: PKR 38.00

Nishat Chun Power (NCPL) – SELL
Current Price: PKR 50.89
Target Price: PKR 43.00

Pakgen Power Ltd. (PKGP) – SELL
Current Price: PKR 28.90
Target Price: PKR 24.00

National Bank (NBP) – SELL
Current Price: PKR 68.96
Target Price: PKR 53.00

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