Pakistan Stock Exchange (PSX) Weekly Analysis 29 Oct, 2016

BUY recommendations are ABL, ACPL, BAHL, DGKC, EFERT, ENGRO, FATIMA, FCCL, FFBL, HUBCO, KAPCO, KEL, KOHC, LUCK, MCB, MLCF, OGDC, PAEL, PIOC, PKGP, POL, PPL, PSMC, PSO, PTC, TGL and UBL.

Top gainers of last week were: Philip Morris (Lakson Tobacco), Fauji Cement Company Ltd., Pioneer Cement, Maple Leaf Cem., Engro Fertilizer, Lucky Cement, K-Electric (KESC), Fauji Fertilizer Co, Nishat Chunian Power and ICI Pakistan.

Top losers of last week were: Shell Pakistan, B.O.Punjab, TRG Pakistan Ltd, Orix Leasing, Jah.Sidd. Co., Pak Tobacco Co, Cherat Packaging, Bestway Cement, Feroz 1888 Mills Ltd and Service Indus.

Top Volume Leaders of last week: BOP, KEL, TRG, SSGC, EFERT, SNGP, HUMNL, PIBTL, JSCL, PAEL, and NCL.

The Pakistan Stock Exchange (PSX) market index plummets amidst political uncertainty - index down 3.4%. KSE-100 index has reached on 39,873 by decreasing -1418 points or - 3.44 %.While KSE-30 index has reached on 21,818 by decreasing -671 points or -2.99 %.

The average daily turnover during the week came in at 341mn shares traded showing a notable decline of 28% W/W. Average value traded dropped by 22% clocking in at PKR11.5bn during the week, while volumes also took a plunge, declining by 28% on average relative to the previous week.

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


  • Fresh rounds of political sit-ins announced by PTI weighed down on PSX again as despite of reasonably strong result announcements, overall sentiments remained on the negative side
  • Amongst the major results during the week OGDC, HUBC, ASTL underperformed the street consensus, while MCB, MLCF, ZIL, CHCC, SAZEW & AICL posted strong quarterly readings
  • Foreigners & Banks remained net buyers mopping up shares worth USD14mn & 21mn respectively during the week
  • Massive selling was witnessed from Local Individuals (net US$35mn)
  • IMF Chief Lagarde saying Pakistan is out of economic crisis
  • China agreeing to give US$5.5bn loan for up gradation and dualization of Pakistan Railways
  • Reports of work on 7,000MW coal-based power plants may be abandoned
  • LSM growth of 1.49% YoY recorded in Aug-16 (+1.97% YoY in 2MFY17)
  • KAPCO privatization running into trouble as ambiguity continues over its power purchase agreement and coal policy
  • NEPRA approving refund of Rs2.77/unit under monthly fuel adjustment mechanism
  • Pak Suzuki Motor Company (PSMC) clarified that company does not have any plans to launch a new model over the next two years The further added that the investment is contingent on government offering the company the same incentives that were on the table for new entrants in the Auto Development Policy 2016-21  
  • The fertilizer sector remained in the limelight thanks to a court ruling that nullified GIDC, but the excitement was short lived as market players expect the GoP to file a review
  • The fertilizer sector reported results that were at par with expectations with positive surprises coming both from FFC and EFERT
  • Cement companies reported upbeat earnings driven by lower energy costs and higher dispatches, but rising coal prices in international markets kept the sector under check
  • The automobile space saw INDU’s result whizzing past estimates with a thick payout
  • The oil giant OGDC reported slightly higher than anticipated earnings, while power companies failed to excite sentiments despite of maintaining thick payouts in recently announced results 
  • The State Bank of Pakistan (SBP) will issue Rs10 regular coin from October 24, a statement said on Saturday. This coin will be issued through the exchange counters of all the field offices of the SBP Banking Services Corporation 
  • Pakistan’s LNG imports set to surge to 3bcf/day by 2018
  • Trucks production in the country rose 60 percent to 1,662 units in the first quarter of the fiscal year 2016/17 as against the production of 1,039 units a year ago
  • With gas shortages expected to hit consumers hard in the upcoming winter season, the government is set to shelve a plan of dedicated gas supply from new discoveries to a group of four fertilizer plants approved during the tenure of previous Pakistan Peoples Party (PPP) government, officials say

Following are few BUY recommendations:

Allied Bank Limited (ABL) – BUY 
Current Price: PKR 100
Target Price: PKR 120

Attock Cement (ACPL) – BUY 
Current Price: PKR 246.3
Target Price: PKR 329

Bank Al-Habib (BAHL) – BUY 
Current Price: PKR 46
Target Price: PKR 60

DG Khan Cement (DGKC) – BUY 
Current Price: PKR 171.8
Target Price: PKR 216

ENGRO Fertilizer Limited (EFERT) – BUY 
Current Price: PKR 63.2
Target Price: PKR 83

Engro Corporation (ENGRO) – BUY
Current Price: PKR 280
Target Price: PKR 361

Fatima Fertilizer (FATIMA) – BUY 
Current Price: PKR 32.4
Target Price: PKR 38

Fauji Cement Company Limited (FCCL) – BUY 
Current Price: PKR 34.6
Target Price: PKR 47

Fauji Fert Bin Qasim (FFBL) – BUY 
Current Price: PKR 46.5
Target Price: PKR 60

HUB Power CO (HUBCO) – BUY
Current Price: PKR 107.31
Target Price: PKR 121

Kot Adu Power Company (KAPCO) – BUY
Current Price: PKR 76.7
Target Price: PKR 116

K-Electric (KEL) – BUY
Current Price: PKR 9.1
Target Price: PKR 13

Kohat Cement (KOHC) – BUY
Current Price: PKR 234.4
Target Price: PKR 353

Lucky Cement (LUCK) – BUY
Current Price: PKR 666
Target Price: PKR 755

MCB Bank Limited (MCB) – BUY 
Current Price: PKR 216
Target Price: PKR 240

Maple Leaf Cement Factory (MLCF) – BUY 
Current Price: PKR 91.2
Target Price: PKR 112

Oil & Gas Development Co. (OGDC) – BUY 
Current Price: PKR 140.3
Target Price: PKR 164

Pak Electron (PAEL) – BUY 
Current Price: PKR 67.0
Target Price: PKR 83

Pioneer Cement Limited (PIOC) – BUY 
Current Price: PKR 105.9
Target Price: PKR 126

Pakgen Power (PKGP) – BUY 
Current Price: PKR 25.5
Target Price: PKR 40

Pakistan Oil Fields Limited (POL) – BUY 
Current Price: PKR 396.92
Target Price: PKR 441

Pakistan Petroleum (PPL) – BUY 
Current Price: PKR 148.4
Target Price: PKR 177

Pak Suzuki Motors (PSMC) – BUY 
Current Price: PKR 520.2
Target Price: PKR 661

Pakistan State Oil (PSO) – BUY 
Current Price: PKR 406.1
Target Price: PKR 490

Pakistan Telecommunications (PTC) – BUY 
Current Price: PKR 16.6
Target Price: PKR 21.9

Tariq Glass (TGL) – BUY 
Current Price: PKR 82.7
Target Price: PKR 120

United Bank Limited (UBL) – BUY 
Current Price: PKR 200
Target Price: PKR 235

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

Pakistan Stock Exchange (PSX) Weekly Analysis 22 Oct, 2016

BUY recommendations are ABL, BAHL, DGKC, EFERT, ENGRO, FATIMA, FCCL, FFBL, KAPCO, KEL, KOHC, LUCK, MCB, MLCF, OGDC, PAEL, PIOC, PKGP, PSMC, PSO, PTC, TGL and UBL.

Top gainers of last week were: Attock Petroleum, Sui North Gas Pipe., B.O.Punjab, Ghani Glass Ltd, Hum Network Ltd, Pak Services, Hascol Petroleum Ltd, Sui South Gas, Nestle Pakistan and Philip Morris (Lakson Tobacco).

Top losers of last week were: International Steels Ltd, Orix Leasing, Muree Brewery Co Ltd, Bestway Cem, Maple Leaf Cem., Cherat Cement, Jah.Sidd. Co., Shifa International Hospitals, EFU General Ins and Feroz 1888 Mills Ltd.

Top Volume Leaders of last week: BOP, TRG, KEL, SSGC, SNGP, JSCL, PIBTL, PAEL, HUMNL, AKBL, and FCCL.

The Pakistan Stock Exchange (PSX) market, overall sentiments remained mixed at the bourse with market struggling to break 42k level. As a result, the index ended down 0.4% WoW to close at 41,291pts. KSE-100 index has reached on 41,291 by decreasing -173 points or -0.42 %.While KSE-30 index has reached on 22,489 by decreasing -152 points or -0.67 %.

Average daily volume augmented by 17%WoW to 472mn primarily on the back of low base (Ashura Holidays in the previous week) where second and third tier stocks topped the volumes charts. BOP continue to be the preferred pick for market participants where it solely contributed 14% (or 289mn) of total trading activity followed by TRG (~119mn) and PACE (~82mn).

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


  • Foreigners turned net sellers offloading shares worth of USD 8.64mn during the outgoing week
  • Current account deficit for Sep’16 recorded at US$161mn vs. US$612mn in the previous month taking 1QFY17 cumulative deficit to US$1.36bn, up 136%YoY
  • All PIB bids were rejected in the latest auction amid weak participation (PkR75bn vs. PkR100bn target) as banks bid at higher yields
  • Expected approval of relief package worth ~PkR200bn for export players, particularly targeting the textile sector
  • Atlas Honda Limited (AHL) announced expansion with a second production line at its Sheikhupura plant to increase assembly capacity to 1.2mn units from its original 600k units
  • MLCF planning to setup a 40MW coal‐fired power plant to fuel its cement manufacturing operations where the company will generate funds worth PkR5.5bn for the project from its own resources
  • Market performance is likely to be dominated by earnings announcement from major sectors next week, including Banks (MCB, NBP, BAFL), Cement (MLCF, PIOC,LUCK, DGKC, FCCL), Fertilizer (FFBL, EFERT, FFC, ENGRO) and Autos (PSMC, INDU). Additionally, announcement of the anticipated textile package is likely to prop up performance in the sector  
  • Gul Ahmed Wind Power Limited commenced generation from its 50MW plant located in the Thatta district. The project will distribute electricity as an IPP to the Central Power Purchaser Agency. The project aims to provide a sustainable tariff at a fixed price for 20 years
  • Total seed cotton (phutti) to reach ginneries has been estimated at over 4.3mn bales, which has marked a decrease of 6.2% over last year. Total decline in cotton seed arrival in the Punjab province was recorded at approximately 9.0% YoY, while the Sindh province also witnessed a decline of 3.8% YoY 
  • The country’s exports declined by 10.60 percent in September 2016 compared to the same month last fiscal year, Pakistan Bureau of Statistics reported
  • The ground-breaking ceremony of the $2 billion North-South gas pipeline project is likely to be in December this year, said officials on Tuesday
  • Country's fourth nuclear power plant at Chashma Unit-3 (C-3) with 340 Megawatt (MW) power generation capacity, has been successfully connected to the national grid, Pakistan Atomic Energy Commission (PAEC) revealed to APP on Sunday 
  • Government extends tax holiday for shipping industry up to 2030


Following are few BUY recommendations:

Allied Bank Limited (ABL) – BUY 
Current Price: PKR 103
Target Price: PKR 120

Bank Al-Habib (BAHL) – BUY 
Current Price: PKR 47.77
Target Price: PKR 60

DG Khan Cement (DGKC) – BUY 
Current Price: PKR 175.9
Target Price: PKR 216

ENGRO Fertilizer Limited (EFERT) – BUY 
Current Price: PKR 62.5
Target Price: PKR 83

Engro Corporation (ENGRO) – BUY
Current Price: PKR 291.1
Target Price: PKR 361

Fatima Fertilizer (FATIMA) – BUY 
Current Price: PKR 33
Target Price: PKR 38

Fauji Cement Company Limited (FCCL) – BUY 
Current Price: PKR 33.9
Target Price: PKR 47

Fauji Fert Bin Qasim (FFBL) – BUY 
Current Price: PKR 50.3
Target Price: PKR 60.48

Kot Adu Power Company (KAPCO) – BUY
Current Price: PKR 76.7
Target Price: PKR 116

K-Electric (KEL) – BUY
Current Price: PKR 9.1
Target Price: PKR 13

Kohat Cement (KOHC) – BUY
Current Price: PKR 240
Target Price: PKR 353

Lucky Cement (LUCK) – BUY
Current Price: PKR 665
Target Price: PKR 755

MCB Bank Limited (MCB) – BUY 
Current Price: PKR 220.33
Target Price: PKR 240

Maple Leaf Cement Factory (MLCF) – BUY 
Current Price: PKR 89.9
Target Price: PKR 112

Oil & Gas Development Co. (OGDC) – BUY 
Current Price: PKR 146.25
Target Price: PKR 164

Pak Electron (PAEL) – BUY 
Current Price: PKR 71.7
Target Price: PKR 83

Pioneer Cement Limited (PIOC) – BUY 
Current Price: PKR 104
Target Price: PKR 126

Pakgen Power (PKGP) – BUY 
Current Price: PKR 25.9
Target Price: PKR 40

Pak Suzuki Motors (PSMC) – BUY 
Current Price: PKR 577.8
Target Price: PKR 661

Pakistan State Oil (PSO) – BUY 
Current Price: PKR 415.7
Target Price: PKR 490

Pakistan Telecommunications (PTC) – BUY 
Current Price: PKR 17.5
Target Price: PKR 21.9

Tariq Glass (TGL) – BUY 
Current Price: PKR 92.9
Target Price: PKR 120

United Bank Limited (UBL) – BUY 
Current Price: PKR 204
Target Price: PKR 235

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

Pakistan Stock Exchange (PSX) Weekly Analysis 15 Oct, 2016

BUY recommendations are ABL, BAFL, DGKC, EFERT, EFOODS, ENGRO, FCCL, FFBL, FFC, HBL, HCAR, KEL, KOHC, LUCK, MCB, MLCF, OGDC, PAEL, PIOC, PKGP, PSMC, PSO, PTC, TGL and UBL.

Top gainers of last week were: Atlas Honda Ltd, B.O.Punjab, Askari Bank Ltd. Shell Pakistan, Bank Alfalah Ltd, Kohinorr Industries Ltd., Security Leasing Corp. Ltd., Tristar Polyester Ltd., Kohinoor Spinning Mills Ltd., and Leather Up Industries Ltd.

Top losers of last week were: SSGC, Service Ind., Hum Network Ltd., Atlas Battery Ltd., Fatima Fertilizer, Safa Textiles Ltd., First Capital Securities Corp. Ltd., Quetta Textile Mills Ltd., Dost Steels Ltd., and EMCO Industries Ltd.

Top Volume Leaders of last week: BOP, TRG, ASL, JPGL, and BAFL.

The Pakistan Stock Exchange (PSX) market index resumed its northbound journey to set yet another all‐time high of 41,464. KSE-100 index has reached on 41,464 by increasing 264 points or 0.64 %.While KSE-30 index has reached on 22,641 by decreasing -23 points or -.10 %.

Average daily volumes fell to ~403mn (-33% WoW) primarily due to mid-week Ashura holidays. BOP retained its position as the volume leader, trading ~132mn shares followed by TRG (~50mn) and ASL (~48mn). Foreigners were net buyers mopping up shares worth of USD 2.24mn in the outgoing week


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


  • IMF’s call for Pak Rupee (PKR) devaluation against the US Dollar (USD) to keep exports competitive
  • New deadlines set by the government for privatizing Pakistan Steel Mills (PSM) and Pakistan International Airlines (PIA) as Jun’17 and Aug’17, respectively
  • The Oil and Gas Regulatory Authority (OGRA) stated that it had not proposed any increase in gas prices for either the domestic sector or for the fertilizer feedstock
  • Chinese investors keen to invest in troubled businesses where negotiations are underway with some banks and a cement company
  • China will help Pakistan in rehabilitation and expansion of its railway system starting with 1,700km Karachi-Peshawar track at the cost of US$8bn that is expected to be completed in 5 years
  • Commercial banks continued to remain in limelight adding 89pts to the index with investors seeking value in relatively undervalued banking scrips including BAHL (+4.4%; +28pts), BAFL (+5.7%; +23pts) and MCB (+1%; +19pts) which cumulatively contributed ~70pts to index. On the other hand, profit taking was witnessed in UBL (-1.5%; -29pts) and HBL (-0.3%; - 8pts)
  • Moreover, the oil sector added ~65pts to the index as global oil prices spiked up following Russia's statement of possibility of joining OPEC. Top performers in the sector included OGDC (+1.8%, +31.3pts) and HASCOL (+7.8%, +20.5pts)


Following are few BUY recommendations:

Allied Bank Limited (ABL) – BUY 
Current Price: PKR 102.4
Target Price: PKR 120

Bank Al-Falah (BAFL) – BUY 
Current Price: PKR 30
Target Price: PKR 33

DG Khan Cement (DGKC) – BUY 
Current Price: PKR 185
Target Price: PKR 230

ENGRO Fertilizer Limited (EFERT) – BUY 
Current Price: PKR 62
Target Price: PKR 95

ENGRO Foods (EFOODS) – BUY 
Current Price: PKR 146
Target Price: PKR 163

Engro Corporation (ENGRO) – BUY
Current Price: PKR 297.8
Target Price: PKR 361

Fauji Cement Company Limited (FCCL) – BUY 
Current Price: PKR 34.9
Target Price: PKR 47

Fauji Fert Bin Qasim (FFBL) – BUY 
Current Price: PKR 51.7
Target Price: PKR 60.48

Fauji Fertilizer Company (FFC) – BUY 
Current Price: PKR 104
Target Price: PKR 120

Habib Bank Limited (HBL) – BUY 
Current Price: PKR 221.6
Target Price: PKR 255

Honda Atlas Cars (HCAR) – BUY 
Current Price: PKR 592
Target Price: PKR 710

K-Electric (KEL) – BUY
Current Price: PKR 9.1
Target Price: PKR 13

Kohat Cement (KOHC) – BUY
Current Price: PKR 251.3
Target Price: PKR 353

Lucky Cement (LUCK) – BUY
Current Price: PKR 698
Target Price: PKR 755

MCB Bank Limited (MCB) – BUY 
Current Price: PKR 226
Target Price: PKR 240

Maple Leaf Cement Factory (MLCF) – BUY 
Current Price: PKR 96.2
Target Price: PKR 112

Oil & Gas Development Co. (OGDC) – BUY 
Current Price: PKR 145
Target Price: PKR 164

Pak Electron (PAEL) – BUY 
Current Price: PKR 70.4
Target Price: PKR 83

Pioneer Cement Limited (PIOC) – BUY 
Current Price: PKR 108
Target Price: PKR 136

Pakgen Power (PKGP) – BUY 
Current Price: PKR 26.2
Target Price: PKR 40

Pak Suzuki Motors (PSMC) – BUY 
Current Price: PKR 580
Target Price: PKR 661

Pakistan State Oil (PSO) – BUY 
Current Price: PKR 419.2
Target Price: PKR 490

Pakistan Telecommunications (PTC) – BUY 
Current Price: PKR 18.0
Target Price: PKR 21.9

Tariq Glass (TGL) – BUY 
Current Price: PKR 94.1
Target Price: PKR 120

United Bank Limited (UBL) – BUY 
Current Price: PKR 202
Target Price: PKR 235

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

Pakistan Stock Exchange (PSX) Weekly Analysis 10 Oct, 2016

BUY recommendations are ABL, BAFL, DGKC, EFERT, EFOODS, ENGRO, FCCL, FFBL, HBL, KEL, KOHC, LUCK, MCB, MLCF, OGDC, PAEL, PIOC, PKGP, PSMC, PSO, PTC and UBL.

Top gainers of last week were: B.O.Punjab, Shell Pakistan, International Steels Ltd, Sui North Gas Pipe., Kohinoor Textile, Service Indus, Dawood Hercules Chem, Cherat Cement, Rafhan Maize Prod. and Millat Tractors.

Top losers of last week were: Kot Addu Power Co., Pak Services, Honda Atlas Cars, Pak Suzuki Motor, Pak Petroleum, Punjab Oil, Feroz 1888 Mills Ltd, Nishat Mills Limited, EFU General Ins and Hub Power.

Top Volume Leaders of last week: BOP, TRG, JSCL, KEL, SNGP, SSGC, PTC, NCL, PIBTL, PAEL, and FCCL.

The Pakistan Stock Exchange (PSX) market index continued to rally amidst improving macroeconomic outlook and subsiding geopolitical concerns (arisen from recent LOC skirmish between India and Pakistan). KSE-100 index has reached on 41,200 by increasing 658 points or 1.62 %.While KSE-30 index has reached on 22,664 by increasing 228 points or 1.01 %.

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


  • The earlier part of the week witnessed excitement in cements as ECNEC approved construction work on major dams and gave a go ahead to some energy projects
  • Oil stocks stayed mostly flat with gains seen earlier in the week as international crude jumped past the USD50/bbl level
  • FrieslandCampina Pakistan Holdings BV, a wholly owned subsidiary of Dutch dairy cooperative FrieslandCampina, has offered to acquire 49.8 million shares of Engro Foods Ltd held by the general public at a price of Rs151.85 per share 
  • The government raised profit rates on the national savings schemes on Saturday to woo investors after investments in these schemes fell steeply in 2015‐ 16.The slight increase in profit rates is indicative of the future movement of the key interest rate 
  • Production of up to 11.2 million bales of cotton was expected this season as compared to 10 million bales produced in the previous year
  • Referring to recent press rumors, PTCL on confirmation from Etisalat would like to categorically state that no discussions regarding sale of Etisalat’s stake in PTCL and its subsidiary Ufone to any company, have taken place.Etisalat has confirmed that it remains committed to its business in Pakistan and continues to work for its success 
  • Hubco plans to set up 330MW coal‐fired plant
  • Commercial Banks were the top gainers over the week, up 2%, followed by Tobacco and Cement, which increased 6% and 2% respectively
  • Foreigners remained net sellers for the 6th consecutive week, offloading USD8.3mn worth of shares
  • Government plans to raise $1 billion through Eurobonds
  • Consumer price inflation ticks up at 3.9pc in September
  • Some 17 foreign and local strategic investors, including Chinese and US stock exchanges, have kick‐started the evaluation process of the Pakistan Stock Exchange (PSX) to bid and buy a total of 40% stake by November 30


Following are few BUY recommendations:

Allied Bank Limited (ABL) – BUY 
Current Price: PKR 99
Target Price: PKR 120

Bank Al-Falah (BAFL) – BUY 
Current Price: PKR 28.7
Target Price: PKR 33

DG Khan Cement (DGKC) – BUY 
Current Price: PKR 192
Target Price: PKR 230

ENGRO Fertilizer Limited (EFERT) – BUY 
Current Price: PKR 61.5
Target Price: PKR 95

ENGRO Foods (EFOODS) – BUY 
Current Price: PKR 147.2
Target Price: PKR 163

Engro Corporation (ENGRO) – BUY
Current Price: PKR 299.4
Target Price: PKR 361

Fauji Cement Company Limited (FCCL) – BUY 
Current Price: PKR 34.7
Target Price: PKR 47

Fauji Fert Bin Qasim (FFBL) – BUY 
Current Price: PKR 52
Target Price: PKR 60.48

Habib Bank Limited (HBL) – BUY 
Current Price: PKR 222.3
Target Price: PKR 255

K-Electric (KEL) – BUY
Current Price: PKR 9.2
Target Price: PKR 13

Kohat Cement (KOHC) – BUY
Current Price: PKR 255
Target Price: PKR 353

Lucky Cement (LUCK) – BUY
Current Price: PKR 705
Target Price: PKR 755

MCB Bank Limited (MCB) – BUY 
Current Price: PKR 224
Target Price: PKR 240

Maple Leaf Cement Factory (MLCF) – BUY 
Current Price: PKR 97.5
Target Price: PKR 112

Oil & Gas Development Co. (OGDC) – BUY 
Current Price: PKR 142.6
Target Price: PKR 164

Pak Electron (PAEL) – BUY 
Current Price: PKR 71.8
Target Price: PKR 83

Pioneer Cement Limited (PIOC) – BUY 
Current Price: PKR 108
Target Price: PKR 136

Pakgen Power (PKGP) – BUY 
Current Price: PKR 26.3
Target Price: PKR 40

Pak Suzuki Motors (PSMC) – BUY 
Current Price: PKR 555.8
Target Price: PKR 661

Pakistan State Oil (PSO) – BUY 
Current Price: PKR 425
Target Price: PKR 490

Pakistan Telecommunications (PTC) – BUY 
Current Price: PKR 18.3
Target Price: PKR 21.9

United Bank Limited (UBL) – BUY 
Current Price: PKR 205
Target Price: PKR 235

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

Pakistan Stock Exchange (PSX) Weekly Analysis 3 Oct, 2016

BUY recommendations are ABL, DGKC, EFERT, EFOODS, ENGRO, FCCL, FFBL, KEL, KOHC, LUCK, MCB, MLCF, OGDC, PAEL, PIOC, PSMC, PSO, PTC, UBL.

Top gainers of last week were: TRG Pakistan Ltd, B.O.Punjab, Indus Motor, Shell Pakistan, Pak Suzuki Motor, Jah.Sidd. Co., Sui South Gas, Nishat Mills Limited, Indus Dyeing and Punjab Oil.

Top losers of last week were: Associated Services Limited, Arif Habib Corp, Pakgen Power Ltd., Stand.Chart.Bank, Larpir Power Ltd, Nishat Power Ltd, EFU Life Assur Ltd., Pak.Int.Con.Ter., Feroz 1888 Mills Ltd and Meezan Bank.

Top Volume Leaders of last week: BOP, KEL, TRG, SSGC, JSCL, SNGP, NCL, PTC, PAEL, FATIMA, and NML.

The Pakistan Stock Exchange (PSX) market index resumed their solid bullish momentum this week to set new highs after closing at 40,542 (+1.91%WoW) primarily led by index heavy weights Oil space (+1.9%WoW) on higher international oil prices (Brent: +4.2%WoW) and SBP decision to keep interest rate unchanged. KSE-100 index has reached on 40,542 by increasing 760 points or 1.91 %.While KSE-30 index has reached on 22,436 by increasing 328 points or 1.49 %.

Average daily volumes for the week eased out a little, to average at 528.3mn shares vs. 727.8mn shares last week,

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


  • ICL launches new caustic soda IEM plant‐2 (Phase‐II) having capacity of 25k MT with a total project cost of ~PkR750mn
  • ICI revealed its plan to setup a facility in Pakistan to manufacture Morinaga infant formula products in partnership with Morinaga and Unibrands
  • Public announcement of offer to acquire 49.8mn ordinary shares of EFOODS by Friesland Campina at PkR151.85/sh
  • Executive Board of the IMF on Sep 28'16 completed the 12th review of Pakistan's 3yr economic reform program enabling the disbursement of the final tranche of about US$102mn 
  • China‐led Asian Infrastructure Investment Bank (AIIB) approved US$300mn loan to fund the expansion of a hydropower project in Pakistan
  • GoP planned to raise US$1bn from the international debt market through issuance of Sukuk in Oct'16
  • Foreigners were net sellers of US$8.6mn during the week
  • The later part of the week witnessed an erosion of gains seen earlier as India made tall claims of having conducted surgical strikes, which were later refuted by Pakistani officials 
  • Sazgar to invest Rs 330 million in production facility
  • PIA, PSM still on active privatisation list
  • ADB revises growth estimate upward to 5.2%
  • K‐Electric, the country’s premier integrated power company, on Tuesday unveiled a plan to add 4,283 megawatts to its generation capacity and improve average fleet efficiency to 43.3 percent from 37 percent over the next 10 years
  • Pakistan Credit Rating Agency has upgraded the long‐term entity rating of Bank of Punjab (BoP) to “AA” with short‐term highest rating of “A1+”
  • Thar coal project is progressing five months ahead of schedule and will add 660 megawatts of electricity to the national grid by 2019, SECMC CEO;


Following are few BUY recommendations:

Allied Bank Limited (ABL) – BUY 
Current Price: PKR 98
Target Price: PKR 120

DG Khan Cement (DGKC) – BUY 
Current Price: PKR 185.9
Target Price: PKR 230

ENGRO Fertilizer Limited (EFERT) – BUY 
Current Price: PKR 62
Target Price: PKR 95

ENGRO Foods (EFOODS) – BUY 
Current Price: PKR 146
Target Price: PKR 163

Engro Corporation (ENGRO) – BUY
Current Price: PKR 291.3
Target Price: PKR 361

Fauji Cement Company Limited (FCCL) – BUY 
Current Price: PKR 37
Target Price: PKR 47

Fauji Fert Bin Qasim (FFBL) – BUY 
Current Price: PKR 51.40
Target Price: PKR 60.48

K-Electric (KEL) – BUY
Current Price: PKR 9.2
Target Price: PKR 13

Kohat Cement (KOHC) – BUY
Current Price: PKR 257
Target Price: PKR 353

Lucky Cement (LUCK) – BUY
Current Price: PKR 677
Target Price: PKR 755

MCB Bank Limited (MCB) – BUY 
Current Price: PKR 221
Target Price: PKR 240

Maple Leaf Cement Factory (MLCF) – BUY 
Current Price: PKR 96
Target Price: PKR 123

Oil & Gas Development Co. (OGDC) – BUY 
Current Price: PKR 141
Target Price: PKR 164

Pak Electron (PAEL) – BUY 
Current Price: PKR 71
Target Price: PKR 83

Pioneer Cement Limited (PIOC) – BUY 
Current Price: PKR 105.7
Target Price: PKR 136

Pak Suzuki Motors (PSMC) – BUY 
Current Price: PKR 579
Target Price: PKR 661

Pakistan State Oil (PSO) – BUY 
Current Price: PKR 414
Target Price: PKR 456

Pakistan Telecommunications (PTC) – BUY 
Current Price: PKR 18
Target Price: PKR 21.9

United Bank Limited (UBL) – BUY 
Current Price: PKR 199
Target Price: PKR 235

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