Pakistan Stock Exchange (PSX) Weekly Analysis 26 Nov, 2016

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

Top gainers of last week were: Indus Dyeing, Bestway Cement, Service Indus, Nishat Chunian, Feroz 1888 Mills Ltd, Associated Services Limited, Nishat Mills Limited, Hascol Petroleum Ltd, IGI Insurance and Packages Limited.

Top losers of last week were: Sui South Gas, Philip Morris (Lakson Tobacco), Cherat Packaging, Meezan Bank, Allied Rental Mod, National Refinery, Pak.Int.Con.Ter., Indus Motor, Askari Bank Ltd. and Faysal Bank.

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

The Pakistan Stock Exchange (PSX) market index, Locals’ bulls continue to beat foreign bears – Index up 1.6% WoW. KSE-100 index has reached on 43,000 by increasing 675 points or 1.59 %.While KSE-30 index has reached on 23,145 by increasing 369 points or 1.62 %.

Average daily trading volume slightly increased by 4% WoW to average at 475mn shares. Foreigners remained net sellers of US$37mn worth of equities mainly due to flight of capital towards developed markets from Frontier and Emerging economies amidst strengthening of the US Dollar.

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


  • State Bank has announced the Monetar Policy and keep the discount rate unchanged i.e. 5.75 for two months
  • Foreign selling continued unabated during the week as well, it was largely restricted to side board items with strong local liquidity pushed index to close at an all-time high
  • Foreign selling continued during the week as well with foreigners offloading USD37.0mn worth of shares compared to net sell of USD9.4mn in the preceding week
  • ECC’s approval of reduction in gas prices for industrial consumers by PkR200/mmbtu
  • Oil stocks rallied on the back of surge in international oil prices, which surged more than +5% during the week as prospects of a possible supply cut deal being brokered in the upcoming OPEC meeting turned high. OGDC (+4.0%), PPL (+4.0%) and POL (+6.2%) drove the major gains in the index
  • State Bank sells Rs290bln MTBs; yields largely remain flat
  • July-October current account deficit up 63 percent YoY
  • Summit Bank Limited announcing to conduct the due diligence of Sindh Bank Limited for potential merger/acquisition
  • The price of steel bars has gone up by Rs8,000-Rs10,000 per tonne after the fire incident at the Gadani ship-breaking yard last month that claimed at least 19 lives
  • China to make extra $8.5 billion investments in Pakistan, says Ahsan Iqbal
  • Dewan Cement (DCL) announced today on Pakistan Stock Exchange (PSX) that the sponsor is exploring the possibility of selling 51% stake to a foreign entity in parallel with the possibility of sale of the north plant located at Haripur, Khyber Pakhtunkhwa
  • There is an inconsistency of over Rs 19 billion in the subsidy for urea and DAP in the current fiscal year between what was budgeted by the Ministry of Finance and what is in documents of the Ministry of National Food, Security and Research (MNFS&R) 
  • The Yunus Brothers Group (YBG) is in talks with South Korea’s Kia Motors Corporation to set up an auto assembly facility in Pakistan. The sponsor of Lucky Cement and ICI Pakistan, YBG is in the initial phase of negotiations with the South Korean company and few details are available so far 
  • PIA concluded a financing facility of US$130mn
  • T‐bills yields in the recent auction remained flat at 5.9463%, 5.9471% and 5.9463% for 3m, 6m and 12m respectively
  • Release of disappointing Large Scale Manufacturing numbers (+2.2% YoY in 1QFY17, +1.9% YoY in Sept-16)


Following are few BUY recommendations:

Allied Bank Limited (ABL) – BUY 
Current Price: PKR 104
Target Price: PKR 120

Attock Cement (ACPL) – BUY 
Current Price: PKR 315
Target Price: PKR 340

Al Shaheer Corpporation Ltd. (ASC) – BUY 
Current Price: PKR 52
Target Price: PKR 82

Bank Al-Falah (BAFL) – BUY 
Current Price: PKR 33
Target Price: PKR 38

Bank Al-Habib (BAHL) – BUY 
Current Price: PKR 50
Target Price: PKR 60

DG Khan Cement (DGKC) – BUY 
Current Price: PKR 191
Target Price: PKR 216

ENGRO Fertilizer Limited (EFERT) – BUY 
Current Price: PKR 64.6
Target Price: PKR 83

Engro Corporation (ENGRO) – BUY
Current Price: PKR 293.5
Target Price: PKR 361

Fatima Fertilizer (FATIMA) – BUY 
Current Price: PKR 34
Target Price: PKR 39

Fauji Cement Company Limited (FCCL) – BUY 
Current Price: PKR 38.9
Target Price: PKR 47

Fauji Fert Bin Qasim (FFBL) – BUY 
Current Price: PKR 53.6
Target Price: PKR 60

HUB Power CO (HUBCO) – BUY
Current Price: PKR 106
Target Price: PKR 121

Indus Motors (INDU) – BUY
Current Price: PKR 1484
Target Price: PKR 1735

Kot Addu Power Company (KAPCO) – BUY
Current Price: PKR 76.4
Target Price: PKR 116

K-Electric (KEL) – BUY
Current Price: PKR 9.3
Target Price: PKR 13

Kohat Cement (KOHC) – BUY
Current Price: PKR 274
Target Price: PKR 353

Lucky Cement (LUCK) – BUY
Current Price: PKR 740
Target Price: PKR 813

MCB Bank Limited (MCB) – BUY 
Current Price: PKR 226
Target Price: PKR 243

Maple Leaf Cement Factory (MLCF) – BUY 
Current Price: PKR 111
Target Price: PKR 125

National Bank of Pakistan (NBP) – BUY 
Current Price: PKR 73
Target Price: PKR 80

Oil & Gas Development Co. (OGDC) – BUY 
Current Price: PKR 145.5
Target Price: PKR 164

Pak Electron (PAEL) – BUY 
Current Price: PKR 70.9
Target Price: PKR 83

Pioneer Cement Limited (PIOC) – BUY 
Current Price: PKR 120
Target Price: PKR 137

Pakgen Power (PKGP) – BUY 
Current Price: PKR 25.8
Target Price: PKR 40

Pakistan Petroleum (PPL) – BUY 
Current Price: PKR 160.1
Target Price: PKR 177

Pak Suzuki Motors (PSMC) – BUY 
Current Price: PKR 531.2
Target Price: PKR 661

Pakistan State Oil (PSO) – BUY 
Current Price: PKR 392.4
Target Price: PKR 490

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

Tariq Glass (TGL) – BUY 
Current Price: PKR 105.1
Target Price: PKR 120

United Bank Limited (UBL) – BUY 
Current Price: PKR 214
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 19 Nov, 2016

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

Top gainers of last week were: Indus Dyeing, Hascol Petroleum Ltd, International Steels Ltd, Pak Services, Ghani Glass Ltd, Allied Rental Mod, Orix Leasing, Bank AL-Habib, Muree Brewery Co Ltd and Philip Morris (Lakson Tobacco).

Top losers of last week were: Indus Motor, Associated Services Limited, TRG Pakistan Ltd, Rafhan Maize Prod., Dawood Hercules Chem, Service Indus, United Bank, ICI Pakistan, Feroz 1888 Mills Ltd and Habib Bank Ltd.

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

The Pakistan Stock Exchange (PSX) market index witnessed a dull week as investors remained cautious and preferred to book profits on the back of continuous foreign selling for consecutive ten days. The market tested the 43K level but failed to sustain it as the benchmark traded offcolor for most part of the week. KSE-100 index has reached on 42,325 by decreasing -524 points or -1.22 %.While KSE-30 index has reached on 22,776 by decreasing -424 points or -1.83 %.

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


  • Prime Minister Nawaz Sharif Sunday inaugurated a trade route linking Gwadar port to the Chinese city of Kashgar as part of a joint multi-billion-dollar project (CPEC) to jumpstart economic growth in the South Asian country. The Cosco Wellington, a ship berthed at the deep-sea port in Balochistan, was loaded with over 150 containers - the first consignment under the China-Pakistan Economic Corridor announced in 2014, which aims to link the Asian superpower's Xinjiang region with the Arabian Sea
  • The unnerving developments on the India-Pakistan border with reports of frequent mini-skirmishes kept market participants on the edge. Losses seen in the regional markets in the earlier part of the week reverberated at the PSX
  • The hearing of the Panama Gate scandal against the premier’s family also kept a check on proceedings
  • Foreigners have continuously remained net sellers, with net US$133mn worth of equities sold in 2016TD and US$75mn of net selling observed during the last two weeks alone
  • Government of Pakistan rejected bids worth PkR113bn (vs. PkR50bn target) in the month’s PIB auction as banks sought higher interest rates
  • Local banks and Individuals remained major buyers, absorbing mos of the foreign selling during the week
  • Talks of OGRA opening upto 200,000 gas connections for new customers
  • The OMC space witnessed HASCOL march ahead with renewed confidence as the leading international commodity group Vitol announced its intention to increase its holding in the company to 25% from its existing 15%
  • Cut in SLR of 5% for Islamic Banks by SBP
  • Cut in urea price of Rs50/bag by Fauji Fertilizer Company (FFC)
  • The State Bank of Pakistan (SBP) has projected GDP growth for Pakistan at 5-6% for FY17 due to anticipated resurgence in agriculture and industrial sectors, with the services sector expected to maintain last year’s momentum. The Cenetral Bank’s forecast is largely in agreement with the government’s own target of 5.7% 
  • Foreign Direct Investment (FDI) fell by 68% YoY during Oct-16 to US$66.8mn compared to US$207.1mn in Oct-15. In 4MFY17, total FDI that came into the country stood at US$316.1mn (down 48% YoY)
  • Commercial banks (-1.9%) retreated during the week on account of profit taking after a recent surge wherein banking heavy weights like HBL (-4.1%) and UBL (-4.6%) contributed 130.55pts and 95.81pts respectively to the index decline
  • While HUBC and PSO too weighed on the index on account of their removal from MSCI Pakistan provisional index
  • Gawdar port to start operations in December
  • Away from the mine’s mouth: Lucky power plant to be the first to run on Thar coal
  • Thar coal-fired power project to be ready ahead of schedule
  • Prominent earnings announcement during the week included HCAR that reported slightly lower than anticipated net income, recording substantive improvement on a Y/Y basis driven by higher revenues
  • Omantel says going ahead with sale of controlling stake in WorldCall


Following are few BUY recommendations:

Allied Bank Limited (ABL) – BUY 
Current Price: PKR 105
Target Price: PKR 120

Attock Cement (ACPL) – BUY 
Current Price: PKR 267.6
Target Price: PKR 329

Bank Al-Falah (BAFL) – BUY 
Current Price: PKR 33
Target Price: PKR 38

Bank Al-Habib (BAHL) – BUY 
Current Price: PKR 51
Target Price: PKR 60

DG Khan Cement (DGKC) – BUY 
Current Price: PKR 187
Target Price: PKR 216

ENGRO Fertilizer Limited (EFERT) – BUY 
Current Price: PKR 62.8
Target Price: PKR 83

Engro Corporation (ENGRO) – BUY
Current Price: PKR 289
Target Price: PKR 361

Fatima Fertilizer (FATIMA) – BUY 
Current Price: PKR 33.6
Target Price: PKR 39

Fauji Cement Company Limited (FCCL) – BUY 
Current Price: PKR 38.6
Target Price: PKR 47

Fauji Fert Bin Qasim (FFBL) – BUY 
Current Price: PKR 53
Target Price: PKR 60

HUB Power CO (HUBCO) – BUY
Current Price: PKR 103
Target Price: PKR 121

Indus Motors (INDU) – BUY
Current Price: PKR 1516
Target Price: PKR 1735

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

Kohat Cement (KOHC) – BUY
Current Price: PKR 270.1
Target Price: PKR 353

Lucky Cement (LUCK) – BUY
Current Price: PKR 730
Target Price: PKR 755

MCB Bank Limited (MCB) – BUY 
Current Price: PKR 227
Target Price: PKR 243

Maple Leaf Cement Factory (MLCF) – BUY 
Current Price: PKR 108
Target Price: PKR 122

National Bank of Pakistan (NBP) – BUY 
Current Price: PKR 73
Target Price: PKR 80

Oil & Gas Development Co. (OGDC) – BUY 
Current Price: PKR 140
Target Price: PKR 164

Pak Electron (PAEL) – BUY 
Current Price: PKR 71.4
Target Price: PKR 83

Pioneer Cement Limited (PIOC) – BUY 
Current Price: PKR 119
Target Price: PKR 137

Pakgen Power (PKGP) – BUY 
Current Price: PKR 25.4
Target Price: PKR 40

Pakistan Oil Fields Limited (POL) – BUY 
Current Price: PKR 418
Target Price: PKR 441

Pakistan Petroleum (PPL) – BUY 
Current Price: PKR 154
Target Price: PKR 177

Pak Suzuki Motors (PSMC) – BUY 
Current Price: PKR 521.7
Target Price: PKR 661

Pakistan State Oil (PSO) – BUY 
Current Price: PKR 388
Target Price: PKR 490

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

Tariq Glass (TGL) – BUY 
Current Price: PKR 101
Target Price: PKR 120

United Bank Limited (UBL) – BUY 
Current Price: PKR 211
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 12 Nov, 2016

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

Top gainers of last week were: Ibrahim Fibres, Maple Leaf Cement, J.D.W.Sugar, Faysal Bank, Kohat Cement, Sui South Gas, Fauji Cement Company Ltd., Fauji Fert Bin, International Steels Ltd and Allied Rental Mod.

Top losers of last week were: Muree Brewery Co Ltd, Shell Pakistan, Philip Morris (Lakson Tobacco), Orix Leasing, K-Electric (KESC), Thal Limited, Hub Power, Jah.Sidd. Co., Oil and Gas Deve and National Foods.

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

The Pakistan Stock Exchange (PSX) market index continues its ascend during the current week, rising by 2.78% WoW to close at an all-time high of 42,849pts. KSE-100 index has reached on 42,849 by increasing 1007 points or 2.41 %.While KSE-30 index has reached on 23,200 by increasing 449 points or 1.97 %.

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


  • The eventful week witnessed the court proceedings’ on the politically charged Panama scandal move ahead smoothly
  • In one of the biggest upsets in the history of US Elections, Republican nominee Donald Trump defeated Democrat Hillary Clinton by a wide margin
  • The National Tariff Commission (NTC) started an antidumping probe into the imports of steel coils from China, almost a year after it slapped duties on Chinese cold rolled coils on the same ground
  • The cement industry posted an 11 per cent growth in local dispatches during July-October 2016 followed by a 2pc jump in exports as compared to the same period last year
  • Two shipments of 58,000 tonnes and 30,000 tonnes of superior quality petrol imported by the Pakistan State Oil (PSO) have arrived a few days ago, sources said
  • Pakistan’s trade deficit rose nearly 22 per cent year-on-year to $9.3019 billion in the first four months of this fiscal year, mainly because of falling exports coupled with a single-digit increase in imports
  • The Federal Board of Revenue (FBR) slapped penalties on around 300 high net-worth individuals, belonging to various companies, for their failure to file tax returns and wealth statements
  • Reiteration of the importance of CPEC to meet growth targets by World Bank
  • Market volumes were concentrated in banking names, especially in BOP that featured as the week’s top volume leader driven by thick retail activity. Buying momentum was clearly evident in HBL, UBL and MCB as market participant’s price in the likelihood of an interest rate reversal in the near term 
  • Pakistani banks, eyeing a piece in trillions of rupees of annual electronic transactions, planned to launch PayPak – the first national payment processing system – by June 2017 to compete with global giants Visa and MasterCard. Most big and mid-tier banks are already at an advanced stage of introducing cards as they have signed agreements with vendors to avail their services for the designing and marketing of the payment cards. An official of 1-link — the power behind PayPak – also endorsed this development
  • The foreign outflow settled in at USD5.09mn MTD with selling seen in cements and major index names
  • The top performers during the week included mostly cement stocks led by MLCF that gathered 14.23% followed by FABL that gained 13.01%, while KOHC ascended 9.92%
  • The losers list was populated by SHEL that erased 3.12% of its value, while KEL dipped by 2.03%
  • Karachi Electric (KE) is to refund Re 0.84 per unit to consumers overcharged in September 2016 after approval from the National Electric Power Regulatory Authority (Nepra) under provisional monthly fuel charges adjustment formula
  • The government has decided to give up more than 1,000 megawatts of imported coal-fired power projects to contain reliance on imported fuels and reduce foreign exchange loss


Following are few BUY recommendations:

Allied Bank Limited (ABL) – BUY 
Current Price: PKR 106
Target Price: PKR 120

Attock Cement (ACPL) – BUY 
Current Price: PKR 261.3
Target Price: PKR 329

Bank Al-Falah (BAFL) – BUY 
Current Price: PKR 33
Target Price: PKR 38

Bank Al-Habib (BAHL) – BUY 
Current Price: PKR 49
Target Price: PKR 60

DG Khan Cement (DGKC) – BUY 
Current Price: PKR 190
Target Price: PKR 216

ENGRO Fertilizer Limited (EFERT) – BUY 
Current Price: PKR 64
Target Price: PKR 83

Engro Corporation (ENGRO) – BUY
Current Price: PKR 293
Target Price: PKR 361

Fatima Fertilizer (FATIMA) – BUY 
Current Price: PKR 34
Target Price: PKR 39

Fauji Cement Company Limited (FCCL) – BUY 
Current Price: PKR 40
Target Price: PKR 47

Fauji Fert Bin Qasim (FFBL) – BUY 
Current Price: PKR 53
Target Price: PKR 60

HUB Power CO (HUBCO) – BUY
Current Price: PKR 107
Target Price: PKR 121

Kot Adu Power Company (KAPCO) – BUY
Current Price: PKR 77.8
Target Price: PKR 116

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

Kohat Cement (KOHC) – BUY
Current Price: PKR 270.5
Target Price: PKR 353

Lucky Cement (LUCK) – BUY
Current Price: PKR 727
Target Price: PKR 755

MCB Bank Limited (MCB) – BUY 
Current Price: PKR 227
Target Price: PKR 243

Maple Leaf Cement Factory (MLCF) – BUY 
Current Price: PKR 109
Target Price: PKR 122

National Bank of Pakistan (NBP) – BUY 
Current Price: PKR 74
Target Price: PKR 80

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

Pak Electron (PAEL) – BUY 
Current Price: PKR 71.3
Target Price: PKR 83

Pioneer Cement Limited (PIOC) – BUY 
Current Price: PKR 116
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 417
Target Price: PKR 441

Pakistan Petroleum (PPL) – BUY 
Current Price: PKR 156.8
Target Price: PKR 177

Pak Suzuki Motors (PSMC) – BUY 
Current Price: PKR 535.8
Target Price: PKR 661

Pakistan State Oil (PSO) – BUY 
Current Price: PKR 403
Target Price: PKR 490

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

Tariq Glass (TGL) – BUY 
Current Price: PKR 100.5
Target Price: PKR 120

United Bank Limited (UBL) – BUY 
Current Price: PKR 221
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 5 Nov, 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: HBL, UBL, LUCK, PPL, Archroma Pak Ltd., ISL, MTL, SHEL, JSCL, SSGC.

Top losers of last week were: MUREB, COLG, ARM, CPPL, GHGL, Kohinoor Energy Ltd., PAKT

Top Volume Leaders of last week: BOP, KEL, SSGC, TRG, PACE.

The Pakistan Stock Exchange (PSX) market index jumped 4.94% WoW closing at an all‐time high of 41,842pts. KSE-100 index has reached on 41,842 by increasing 1969 points or 4.94 %.While KSE-30 index has reached on 22,751 by increasing 933 points or 4.28 %.

Average daily volumes augmented to ~484mn (+42% WoW) as end of the political stalemate attracted investors back into the market. BOP retained its position as the volume leader, trading ~222mn share during the week followed by KEL (~164mn) and TRG (~72mn).

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


  • Investors relieved by the cloud of political noise abating due to the Supreme Court verdict over Panama leaks inquiry
  • The Abraaj Group has announced that an Abraaj-controlled company, KES Power, has entered into a definitive agreement to divest its 66.4% shareholding in K-Electric to the Shanghai Electric Power Company Limited (SEP) for a consideration of US$1.77bn. This translates into a price of Rs10.14/share 
  • Petroleum Minister Shahid Khaqan Abbasi announced that the GoP has decided not to increase the natural gas tariff for any category of consumers because of a decline in the cost of producing gas
  • French automaker Renault has reportedly decided to start assembling cars in Pakistan by 2018 under the newly approved incentives announced in the Auto Investment Development Policy where Renault would enter the Pakistani market as a Joint Venture with GHNL, with plans to invest US$ 100 mn in Pakistan
  • The cut in sales tax on petroleum products rendered more than PkR20bn in revenue losses to the FBR during the last four months
  • Most of the rally was led by foreign investors and local mutual funds where large buying of US$21mn and US$28mn, respectively was observed by the two groups during the week
  • S&P Global Ratings raised its LT sovereign credit rating on Pakistan by one notch to ‘B’ from ‘B-‘. It is Pakistan’s highest rating since May 2008, when Pakistan was downgraded from ‘B+’ to ‘B’. The outlook on the rating has been kept stable 
  • Commercial banks remained in limelight adding 393pts as the stronger than consensus reading (+4.24pts) reaffirmed the view of an interest rate up cycle in the offing that would relieve pressure off NIMs
  • LUCK and PPL cumulatively contributed 161.7pts recovering on the back of value hunting
  • MTL contributed 63pts (+22% return in the week) to the benchmark index due on anticipation of an upsurge in local and export volumes
  • Foreigners and Mutual funds were net buyers mopping up shares worth of USD 21.05mn and 4.59mn in the outgoing week
  • First Chinese shipment rolls into Sost dry port in G-B First Chinese shipment rolls into Sost dry port in G-B (CPEC)


Following are few BUY recommendations:

Allied Bank Limited (ABL) – BUY 
Current Price: PKR 104.75
Target Price: PKR 120

Attock Cement (ACPL) – BUY 
Current Price: PKR 256.02
Target Price: PKR 329

Bank Al-Habib (BAHL) – BUY 
Current Price: PKR 48
Target Price: PKR 60

DG Khan Cement (DGKC) – BUY 
Current Price: PKR 178.2
Target Price: PKR 216

ENGRO Fertilizer Limited (EFERT) – BUY 
Current Price: PKR 63.90
Target Price: PKR 83

Engro Corporation (ENGRO) – BUY
Current Price: PKR 288
Target Price: PKR 361

Fatima Fertilizer (FATIMA) – BUY 
Current Price: PKR 34.35
Target Price: PKR 39

Fauji Cement Company Limited (FCCL) – BUY 
Current Price: PKR 36.49
Target Price: PKR 47

Fauji Fert Bin Qasim (FFBL) – BUY 
Current Price: PKR 48.3
Target Price: PKR 60

HUB Power CO (HUBCO) – BUY
Current Price: PKR 109.17
Target Price: PKR 121

Kot Adu Power Company (KAPCO) – BUY
Current Price: PKR 76.3
Target Price: PKR 116

K-Electric (KEL) – BUY
Current Price: PKR 9.4
Target Price: PKR 13

Kohat Cement (KOHC) – BUY
Current Price: PKR 246.10
Target Price: PKR 353

Lucky Cement (LUCK) – BUY
Current Price: PKR 710
Target Price: PKR 755

MCB Bank Limited (MCB) – BUY 
Current Price: PKR 221.55
Target Price: PKR 243

Maple Leaf Cement Factory (MLCF) – BUY 
Current Price: PKR 95.35
Target Price: PKR 122

Oil & Gas Development Co. (OGDC) – BUY 
Current Price: PKR 142.62
Target Price: PKR 164

Pak Electron (PAEL) – BUY 
Current Price: PKR 69
Target Price: PKR 83

Pioneer Cement Limited (PIOC) – BUY 
Current Price: PKR 112.17
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 393.73
Target Price: PKR 441

Pakistan Petroleum (PPL) – BUY 
Current Price: PKR 153.99
Target Price: PKR 177

Pak Suzuki Motors (PSMC) – BUY 
Current Price: PKR 539.2
Target Price: PKR 661

Pakistan State Oil (PSO) – BUY 
Current Price: PKR 406.37
Target Price: PKR 490

Pakistan Telecommunications (PTC) – BUY 
Current Price: PKR 17.66
Target Price: PKR 21.9

Tariq Glass (TGL) – BUY 
Current Price: PKR 90.8
Target Price: PKR 120

United Bank Limited (UBL) – BUY 
Current Price: PKR 214
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