Pakistan Stock Exchange (PSX) Weekly Analysis 29 January, 2017

BUY recommendations are ABL, AICL, APL, ASC, BAHL, DGKC, EFERT, ENGRO, FCCL, FFBL, HASCOL, HBL, INDU, KAPCO, KEL, KOHC, LPL, LUCK, MLCF, MCB, MEBL, NATF, NPL, OGDC, PIOC, PKGP, PPL, PSO, PTC, TGL and UBL.

Top gainers of last week were: EPCL, KEL, HUBCO, BAFL, PSO, IGIIL, CSAP, OLPL, SCBPL, TRG.

Top losers of last week were: ABL, MTL, NCL, SSGC, ASTL, PICT, SNBL, ASRL, ARM, PAKT.

Top Volume Leaders of last week: KEL, JPGL, ASL, TRG, DSL, BOP, FABL, EPCL, PIAA, and PAEL.

The Pakistan Stock Exchange (PSX) market index crossed the 50k level; however leading to profit taking to keep the market volatile. KSE-100 index has reached on 49,964 by increasing 599 points or 1.21 %.While KSE-30 index has reached on 26,914 by increasing 477 points or 1.81 %.

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


  • State Bank of Pakistan has announced the Monetary Policy, and keep the discount rate unchanged
  • Power Generation & Distribution, Refinery and Commercial Banks remained in lime light during the week as they were up 2-4%. Investors flocked to these sectors in anticipation of better Dec quarter results
  • Renewed interest was seen in Fertilizer sector on the back of higher than expected fertilizer off-takes for Dec 2016
  • Foreigner remained net sellers during the week however the quantum slowed down in the week under review. Foreigners sold US$14mn worth of shares vs. US$47mn during the previous week. Major selling was seen in Power Generation & Distribution and Commercial Bank
  • Attock Refinery (ATRL) announced 2QFY17 financial results today reporting consolidated profits of Rs2,032mn (EPS Rs23.83), up 1.2X YoY, mainly driven by growth of 17.5% in net revenues and tax reversal of Rs1bn
  • National Refinery (NRL) also announced 2QFY17 financial results today reporting profit of Rs2,063mn (EPS Rs25.8), down 20.2% YoY. In 1HFY17 EPS stood at Rs49.6, up 37.5%. During 2QFY17, net revenues witnessed a decline of 11% to Rs26,603mn while gross margins declined by 4ppts to 9.2%
  • Attock Petroleum (APL) reported 2QFY17 earnings of Rs1,594mn (EPS Rs19.2), up 68% YoY. Company witnessed improvement in gross margins which increased to 5.4% vs. 4.6% in 2QFY16. Gross profits were up 20% YoY to Rs1.6bn led by higher capital gains, we believe
  • As per the notice on Pakistan Stock Exchange (PSX), National Foods (NATF) notified that National Foods DMCC (wholly owned subsidiary) through its further subsidiary namely National Epicure Inc is in the process of acquiring controlling interest of a company in Canada namely A1 Bags & Supplies Inc
  • Crescent Steel and Allied Products (CSAPL) has informed award of contract from Sui Northern Gas (SNGP) and Sui Sothern Gas (SSGC) for supply of 36 inch Bare Pipes and 24 inch Coated Pipes amounting to Rs2,315mn and Rs656mn respectively. The aforesaid contracts are expected to be executed by the first quarter of the next financial year
  • Faysal Bank (FABL) announced 4QCY16 financial results today reporting earnings of Rs537mn (EPS Rs0.47), down 53.2% YoY. For CY16, the earnings clocked in at Rs4,302mn (EPS Rs3.59) up 2% YoY, where major support came from lower provisions against non performing loan (Rs625mn down 69%) and gain on sale of securities (Rs2,093mn)
  • Cherat Cement on Monday announced it would install a third cement production line at its existing site in Nowshera, Khyber-Pakhtunkhwa
  • The Economic Coordination Committee (ECC) of the Cabinet has allowed the export of 0.3 million tons of urea and decided to continue a Rs 200 subsidy on each bag of urea fertilizer for the remaining six months
  • ADB set to provide US$196mn for post-floods highways rehabilitation project
  • Government of Pakistan potentially selling-off 5% stake in Oil & Gas Development Company (OGDC)
  • Sindh High Court issuing a Status Quo order preventing the holding of EOGM of NIB Bank to approve Scheme of Amalgamation with MCB Bank
  • PSMC’s plan to enter in to a JV to manufacture automobile glass
  • ISL disclosing plans to enhance capacity
  • CCP imposed fines of PkR62.3mn on EFOODS, PkR2mn on FFL and PkR0.5mn on Shakarganj Foods Products Limited (SFP) for deceptive marketing of dairy products as milk with EFOODS denying these allegations


Following are few BUY recommendations:

Allied Bank Limited (ABL) – BUY 
Current Price: PKR 112.23
Target Price: PKR 132

Adamjee Insurance (AICL) – BUY 
Current Price: PKR 73.06
Target Price: PKR 92

Attock Petroleum (APL) – BUY 
Current Price: PKR 711.93
Target Price: PKR 796

Al Shaheer Corporation Ltd. (ASC) – BUY 
Current Price: PKR 56.04
Target Price: PKR 82

Bank Al-Habib Limited (BAHL) – BUY 
Current Price: PKR 58.12
Target Price: PKR 64

Dera Ghazi Khan Cement (DGKC) – BUY 
Current Price: PKR 233.83
Target Price: PKR 270

ENGRO Fertilizer Limited (EFERT) – BUY 
Current Price: PKR 72.62
Target Price: PKR 83

Engro Corporation (ENGRO) – BUY
Current Price: PKR 341.57
Target Price: PKR 391

Fauji Cement Company Limited (FCCL) – BUY 
Current Price: PKR 46.54
Target Price: PKR 54

Fauji Fert Bin Qasim (FFBL) – BUY 
Current Price: PKR 54.79
Target Price: PKR 67

Hascol Petroleum (HASCOL) – BUY 
Current Price: PKR 349.80
Target Price: PKR 428

Habib Bank Limited (HBL) – BUY 
Current Price: PKR 265.09
Target Price: PKR 304

Hi-Tech Lubricants (HTL) – BUY 
Current Price: PKR 119.61
Target Price: PKR 133

Indus Motors (INDU) – BUY
Current Price: PKR 1,807.11
Target Price: PKR 1,974

Kot Adu Power (KAPCO) – BUY
Current Price: PKR 81.95
Target Price: PKR 107

K-Electric (KEL) – BUY
Current Price: PKR 10.67
Target Price: PKR 13

Kohat Cement (KOHC) – BUY
Current Price: PKR 289.7
Target Price: PKR 353

Lalpir Power (LPL) – BUY 
Current Price: PKR 23.35
Target Price: PKR 46

Lucky Cement (LUCK) – BUY 
Current Price: PKR 880.71
Target Price: PKR 1,046

Maple Leaf Cement (MLCF) – BUY 
Current Price: PKR 132.38
Target Price: PKR 165

Muslim Commercial Bank (MCB) – BUY 
Current Price: PKR 249.55
Target Price: PKR 280

Meezan Bank (MEBL) – BUY 
Current Price: PKR 66.98
Target Price: PKR 72

National Foods (NATF) – BUY 
Current Price: PKR 413.71
Target Price: PKR 473

Nishat Chunian (NCL) – BUY 
Current Price: PKR 66.08
Target Price: PKR 74

Nishat Mills (NML) – BUY 
Current Price: PKR 168.38
Target Price: PKR 186

Nishat Power (NPL) – BUY 
Current Price: PKR 65.01
Target Price: PKR 81

Oil & Gas Development Co. (OGDC) – BUY 
Current Price: PKR 155.26
Target Price: PKR 200

Pioneer Cement Limited (PIOC) – BUY 
Current Price: PKR 145.6
Target Price: PKR 161

Pakgen Power (PKGP) – BUY 
Current Price: PKR 26.96
Target Price: PKR 47

Pakistan Oilfields Limited (POL) – BUY 
Current Price: PKR 512.8
Target Price: PKR 569.4

Pakistan Petroleum Limited (PPL) – BUY 
Current Price: PKR 178.1
Target Price: PKR 218

Pakistan State Oil (PSO) – BUY 
Current Price: PKR 456.43
Target Price: PKR 490

Pakistan Telecommunications (PTC) – BUY 
Current Price: PKR 19.6
Target Price: PKR 21.9

Tariq Glass (TGL) – BUY 
Current Price: PKR 108.8
Target Price: PKR 120

United Bank Limited (UBL) – BUY 
Current Price: PKR 240.23
Target Price: PKR 294

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 23 January, 2017

BUY recommendations are ABL, AICL, APL, ASC, BAHL, DGKC, EFOODS, EFERT, ENGRO, FCCL, FFBL, HASCOL, HBL, INDU, KAPCO, KEL, KOHC, LPL, LUCK, MLCF, MCB, MEBL, NATF, NPL, OGDC, PIOC, PKGP, PPL, PSO, PTC, TGL and UBL.

Top gainers of last week were: Millat Tractors, National Refinery, Abbott Lab., Sui North Gas, Honda Atlas Cars, Soneri Bank Ltd, IGI Insurance, J.D.W.Sugar, Inter.Steel Ltd and Pak Tobacco.

Top losers of last week were: Oil & Gas Dev., St.Chart.Bank, Service Ind.Ltd, Habib Bank, United Bank, Ghani Glass LtdXD, P.S.O., Allied Bank Ltd., Ferozsons (Lab) and MCB Bank Ltd.

Top Volume Leaders of last week: KEL, BOP, FABL, TRG, SSGC, PAEL, EFERT, SNGP, NCL, OGDC, and FFC.

The Pakistan Stock Exchange (PSX) market index Index remained volatile during the week owing to political developments related to Panama‐gate case. KSE-100 index has reached on 49,365 by increasing 154 points or 0.31 %.While KSE-30 index has reached on 26,437 by decreasing -302 points or -1.13 %.

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

  • The sole salvaging factor for the benchmark in the earlier half of the week was a rally in fertilizer names as the prime minister announced restoration of subsidy on the commodity, to be funded by the federal exchequer
  • MLCF announced its brown-field expansion taking its installed capacity to 18,000 TPD and POWER chipped in with its intention to triple its production capacity putting to rest any rumors regarding its merger/acquisition
  • PPL declare its long awaited results whereby it booked an impairment of more than PKR6bn on its Europe subsidiary (MND exploration)
  • The announcement of 5% divestment of the E&P giant OGDC by the government through the equity markets suppressed the stock into red as investors foresee a large infusion into an already bloated float of the stock
  • The levy of anti-dumping duty on imported steel products from China and Ukraine cheered steel stocks as they scored multiple upper circuits
  • PAEL re-embarked on an upwards journey led by anticipation of growing earnings as the company introduced a slew of new products in its consumer division and a strong order book in the transformers segment
  • Shanghai Electric Power (SEP) said on Friday it has received approval from the Chinese Ministry of Commerce to acquire stakes in K-Electric. One of Abraaj Group’s companies. The deal, when closed, will be worth $1.77 billion
  • Federal Minister for Planning, Development and Reforms Ahsan Iqbal Monday said that Diamer-Bhasha Dam would also be part of the China-Pakistan Economic Corridor (CPEC) 
  • Chairman Alibaba Group Jack Ma Wednesday evinced keen interest in investing in Pakistan and to build an e-Commerce platform to further promote online business ventures 
  • Arif Habib Group, one of the largest private-sector conglomerates in Pakistan, has said that it is going to invest Rs25 billion (or $235 million) in a new cement plant that will be completed in the next two years
  • Refinery remained best performing sector mainly led by National Refinery (NRL). The stock rallied 16% during the week in anticipation of better earnings after its plant up-gradation
  • In line with past many weeks trend, foreigners remained net sellers of US$46.6mn during the week. Main selling by foreigners was seen in Banks, followed by Textile and Electricity
  • Ghani Gases (GGL) notified long term equity investments of Rs450mn in Ghani Global Glass (GGGL/ an associated listed company) through purchase of 25,000,000 ordinary shares (equal to 25% of total paid up capital of GGGL) at Rs18 per share in accordance with the special resolution passed by shareholders of the Company
  • Proposal by the Ministry to allow export of 0.3mn tons of urea
  • SECP proposed setting requirement all equity funds and funds of funds would have to maintain at least 5% of net assets in cash and cash equivalents


Following are few BUY recommendations:

Allied Bank Limited (ABL) – BUY 
Current Price: PKR 116.22
Target Price: PKR 132

Adamjee Insurance (AICL) – BUY 
Current Price: PKR 74.18
Target Price: PKR 92

Attock Petroleum (APL) – BUY 
Current Price: PKR 704.10
Target Price: PKR 796

Al Shaheer Corpporation Ltd. (ASC) – BUY 
Current Price: PKR 59.89
Target Price: PKR 82

Bank Al-Habib Limited (BAHL) – BUY 
Current Price: PKR 58.57
Target Price: PKR 64

Dera Ghazi Khan Cement (DGKC) – BUY 
Current Price: PKR 224.92
Target Price: PKR 270

ENGRO Foods (EFOODS) – BUY 
Current Price: PKR 202.17
Target Price: PKR 220

ENGRO Fertilizer Limited (EFERT) – BUY 
Current Price: PKR 70.38
Target Price: PKR 83

Engro Corporation (ENGRO) – BUY
Current Price: PKR 333.82
Target Price: PKR 391

Fauji Cement Company Limited (FCCL) – BUY 
Current Price: PKR 46.41
Target Price: PKR 54

Fauji Fert Bin Qasim (FFBL) – BUY 
Current Price: PKR 54.83
Target Price: PKR 67

Hascol Petroleum (HASCOL) – BUY 
Current Price: PKR 347.07
Target Price: PKR 428

Habib Bank Limited (HBL) – BUY 
Current Price: PKR 260.58
Target Price: PKR 304

Indus Motors (INDU) – BUY
Current Price: PKR 1,787.24
Target Price: PKR 1,974

Kot Adu Power (KAPCO) – BUY
Current Price: PKR 83.09
Target Price: PKR 107

K-Electric (KEL) – BUY
Current Price: PKR 9.56
Target Price: PKR 13

Kohat Cement (KOHC) – BUY
Current Price: PKR 297.76
Target Price: PKR 353

Lalpir Power (LPL) – BUY 
Current Price: PKR 23.89
Target Price: PKR 46

Lucky Cement (LUCK) – BUY 
Current Price: PKR 872.51
Target Price: PKR 1,046

Maple Leaf Cement (MLCF) – BUY 
Current Price: PKR 133.61
Target Price: PKR 165

Muslim Commercial Bank (MCB) – BUY 
Current Price: PKR 243.52
Target Price: PKR 280

Meezan Bank (MEBL) – BUY 
Current Price: PKR 64.50
Target Price: PKR 72

National Foods (NATF) – BUY 
Current Price: PKR 379.95
Target Price: PKR 473

Nishat Power (NPL) – BUY 
Current Price: PKR 67.50
Target Price: PKR 81

Oil & Gas Development Co. (OGDC) – BUY 
Current Price: PKR 155.30
Target Price: PKR 200

Pioneer Cement Limited (PIOC) – BUY 
Current Price: PKR 146.20
Target Price: PKR 161

Pakgen Power (PKGP) – BUY 
Current Price: PKR 26.42
Target Price: PKR 47

Pakistan Petroleum Limited (PPL) – BUY 
Current Price: PKR 177.05
Target Price: PKR 218

Pakistan State Oil (PSO) – BUY 
Current Price: PKR 435.70
Target Price: PKR 490

Pakistan Telecommunications (PTC) – BUY 
Current Price: PKR 19.36
Target Price: PKR 21.9

Tariq Glass (TGL) – BUY 
Current Price: PKR 108.2
Target Price: PKR 120

United Bank Limited (UBL) – BUY 
Current Price: PKR 238.41
Target Price: PKR 294

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 17 January, 2017

BUY recommendations are ABL, ASC, BAHL, DGKC, EFERT, ENGRO, FCCL, FFBL, KEL, KOHC, MLCF, NML, OGDC, PAEL, PIOC, PPL, PSMC, PSO, PTC and TGL.

Top gainers of last week were: Pak.Int.Cont., TRG Pak Ltd, Faysal Bank, Cherat Pack, St.Chart.Bank, Allied Rent., Nishat Power, The Searle Co., Sui North Gas and National Refinery

Top losers of last week were: Pak Petroleum, Indus Dyeing, Engro Fert., Bannu Woollen, Kohinoor Textile, Hum Network, Jubile Life Ins, IGI Insurance, Nishat Mills Ltd and Packages Ltd.

Top Volume Leaders of last week: KEL, TRG, EFERT, BOP, SSGC, FABL, FFC, PAEL, SNGP, NCL, and JSCL,

The Pakistan Stock Exchange (PSX) market index consolidated at around record all-time high of 49k in the outgoing week.. KSE-100 index has reached on 49,211 by increasing 173 points or 0.35 %.While KSE-30 index has reached on 26,739 by increasing 78 points or 0.29 %.

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


  • News regarding increase in equity stake by HUBC management in the 2x660MW power projects from 26% to 47.5% served as a major catalyst for the stock where we estimate valuation impact of PKR16/sh. While KAPCO rallied on management's nod to investment in 660MW coal power plant in Punjab
  • Foreigners remained net sellers during the week, with significant increase in the quantum, offloading USD46.5mn worth of shares, with selling primarily concentrated in Fertilizer (USD14.2mn) and cement (USD13.1mn) sector 
  • 21.5 percent funds released for CPEC-related projects
  • World Bank revises GDP growth upward to 5.2 percent for 2017, 5.5 percent for 2018
  • The ongoing case hearing against premier’s family failed to bridle the bull-run of the market amid earnings excitement among the market participants
  • Export package of PKR180bn, announced by GoP during the week, added further to the steamy pace of the local bourse
  • The surprise withdrawal of PKR400/bag subsidy on fertilizers spurred a selling spree, pushing all the names in the sector into deep red
  • The index heavy oil stocks remained depressed on account of receding international crude prices as Iran increases its oil exports to re-gain market share, and shale drilling activity in the U.S registered a gain for the 10th consecutive month 
  • The Securities and Exchange Commission of Pakistan (SECP) will make it mandatory for the insurance companies to establish an industry-wide guarantee fund to protect the interests of policyholders under the draft Insurance Bill 2016
  • The MCB Bank Limited and NIB Bank have scheduled extraordinary general meeting (EOGM) on January 23 to seek approval of their respective shareholders for the merger of NIB Bank into MCB Bank 
  • ECC approving the summary regarding the Prime Minister's Package of Incentives for Exporters with an estimated outlay of PkR180bn, and is applicable for the period from CY17‐18 
  • PBS in its latest data showed that LSM grew 8.02% in Nov'16
  • Dec'16 total industry/car sales were recorded at 16,042/14,024 units, lower by 10.2%/12.4%MoM, while CY16 industry/car sales remained upbeat, res􀆟ng at 203,633/177,363 units tapering 9.2%/2.7%YoY, whereas ex‐Rozgar, car sales jump 26%YoY

Following are few BUY recommendations:

Allied Bank Limited (ABL) – BUY 
Current Price: PKR 120
Target Price: PKR 132

Al Shaheer Corpporation Ltd. (ASC) – BUY 
Current Price: PKR 57.23
Target Price: PKR 82

Bank Al-Habib Limited (BAHL) – BUY 
Current Price: PKR 58
Target Price: PKR 70

Dera Ghazi Khan Cement (DGKC) – BUY 
Current Price: PKR 224.5
Target Price: PKR 272

ENGRO Fertilizer Limited (EFERT) – BUY 
Current Price: PKR 69.6
Target Price: PKR 83

Engro Corporation (ENGRO) – BUY
Current Price: PKR 331
Target Price: PKR 391

Fauji Cement Company Limited (FCCL) – BUY 
Current Price: PKR 47.1
Target Price: PKR 52

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

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

Kohat Cement (KOHC) – BUY
Current Price: PKR 294.5
Target Price: PKR 353

Maple Leaf Cement (MLCF) – BUY 
Current Price: PKR 131.7
Target Price: PKR 165

Nishat Mills Limited (NML) – BUY 
Current Price: PKR 156
Target Price: PKR 172

Oil & Gas Development Co. (OGDC) – BUY 
Current Price: PKR 168.3
Target Price: PKR 200

Pak Electron (PAEL) – BUY 
Current Price: PKR 75.6
Target Price: PKR 83

Pioneer Cement Limited (PIOC) – BUY 
Current Price: PKR 143.0
Target Price: PKR 161

Pakistan Petroleum Limited (PPL) – BUY 
Current Price: PKR 180.9
Target Price: PKR 218

Pak Suzuki Motors (PSMC) – BUY 
Current Price: PKR 624
Target Price: PKR 661

Pakistan State Oil (PSO) – BUY 
Current Price: PKR 454.5
Target Price: PKR 490

Pakistan Telecommunications (PTC) – BUY 
Current Price: PKR 19
Target Price: PKR 21.9

Tariq Glass (TGL) – BUY 
Current Price: PKR 105.5
Target Price: PKR 120

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 8 January, 2017

BUY recommendations are ABL, ASC, BAHL, DGKC, EFERT, ENGRO, FCCL, FFBL, INDU, KEL, KOHC, MLCF, NML, OGDC, PAEL, PIOC, PPL, PSMC, PSO, PTC and TGL.

Top gainers of last week were: Crescent Steel, Fauji Fert., Nishat (Chun.), P.T.C.L., Askari Bank, Pak.Int.Cont., Pak Elektron, Engro Fert., Engro Corp and Millat Tractors.

Top losers of last week were: Pak Tobacco, Rafhan Maize, Thal Limited, Pak Int.Bulk, J.D.W.Sugar, Nishat Power, Soneri Bank Ltd, Abbott Lab., Bata (Pak) and Ferozsons (Lab).

Top Volume Leaders of last week: KEL, BOP, PAEL, FCCL, EFERT, AKBL, PTC, TRG, PIBTL, FFC, and NCL.

The Pakistan Stock Exchange (PSX) market index persisted its buoyant mood piling on gains as the start of the New Year witnessed the index touching the 49K level before profit taking settled in. KSE-100 index has reached on 49,038 by increasing 1231 points or 2.52 %.While KSE-30 index has reached on 26,661 by increasing 809 points or 3.13 %.

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


  • Reported price increase announced by steel bar manufacturers lifted sentiments in ASTL, MUGHAL and CSAP as they recorded another round of stock price appreciation
  • OMC names underwent an ascent as the GoP raised prices of petroleum products in the wake of higher international crude and market participants built in expectations of inventory gains in the upcoming results
  • Local E&P stocks tracked international crude recording gains and dips accordingly. NRL was the celebrated crude refiner as the company notified exchanges regarding its intention to reduce borrowing for its expansion/up gradation project and fund it through internal cash resources 
  • EFOODS was seen piling gains throughout the week as savvy players bet on the new management taking the company’s profitability into deep greens
  • The Federal Board of Revenue (FBR) has reduced sales tax on different petroleum products from January 1, 2017 including high speed diesel oil, kerosene and light diesel oil
  • Sindh Bank and Summit Bank have approached the central bank to seek permission for conducting due diligence on the proposed merger, in the latest bid for both the lenders, which are looking beyond organic growth to respond to increasing competition and need for greater operational and capital efficiency 
  • Textile exports fell by $600m during 2016
  • NBP refutes reports of 1.5 bn fraud in its operations
  • The cost of construction rose 10 per cent in the outgoing year due to increase in cement and steel bar prices, and the impact of a depreciating rupee on imported construction material 
  • Fertilizer (+6.9%) and Banks (+1.9%) were the major sectors that provided impetus to the index where former rallied on higher than estimated provisional fertilizer offtake for the month of December, which led to easing concerns over inventory glut. While the latter were in limelight again on expectations of earlier than expected interest rate reversal and robust advances growth in Dec-16 
  • Foreigners remained net sellers during the week, however the quantum was much lower, offloading USD2.0mn worth of shares, with selling primarily in concentrated in Oils (USD6.9mn)
  • The Government of Pakistan decided to keep petroleum prices unchanged for two weeks during the month of January, 2017
  • News reports stated that KEL has shelved plans for converting its BQPS‐1, FO plants with 420MW capacity to low‐priced coal after the utility failed to secure cost‐effective tariffs from the regulator

Following are few BUY recommendations:

Allied Bank Limited (ABL) – BUY 
Current Price: PKR 121
Target Price: PKR 132

Al Shaheer Corpporation Ltd. (ASC) – BUY 
Current Price: PKR 58.40
Target Price: PKR 82

Bank Al-Habib Limited (BAHL) – BUY 
Current Price: PKR 58.80
Target Price: PKR 70

Dera Ghazi Khan Cement (DGKC) – BUY 
Current Price: PKR 226.5
Target Price: PKR 272

ENGRO Fertilizer Limited (EFERT) – BUY 
Current Price: PKR 73.22
Target Price: PKR 83

Engro Corporation (ENGRO) – BUY
Current Price: PKR 339.25
Target Price: PKR 391

Fauji Cement Company Limited (FCCL) – BUY 
Current Price: PKR 46.8
Target Price: PKR 52

Fauji Fert Bin Qasim (FFBL) – BUY 
Current Price: PKR 53.8
Target Price: PKR 60

Indus Motors (INDU) – BUY
Current Price: PKR 1662.26
Target Price: PKR 1735

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

Kohat Cement (KOHC) – BUY
Current Price: PKR 301.3
Target Price: PKR 353

Maple Leaf Cement (MLCF) – BUY 
Current Price: PKR 129.0
Target Price: PKR 165

Nishat Mills Limited (NML) – BUY 
Current Price: PKR 161.05
Target Price: PKR 172

Oil & Gas Development Co. (OGDC) – BUY 
Current Price: PKR 170.2
Target Price: PKR 200

Pak Electron (PAEL) – BUY 
Current Price: PKR 77
Target Price: PKR 83

Pioneer Cement Limited (PIOC) – BUY 
Current Price: PKR 144.3
Target Price: PKR 161

Pakistan Petroleum Limited (PPL) – BUY 
Current Price: PKR 192.9
Target Price: PKR 218

Pak Suzuki Motors (PSMC) – BUY 
Current Price: PKR 619
Target Price: PKR 661

Pakistan State Oil (PSO) – BUY 
Current Price: PKR 460.7
Target Price: PKR 490

Pakistan Telecommunications (PTC) – BUY 
Current Price: PKR 18.67
Target Price: PKR 21.9

Tariq Glass (TGL) – BUY 
Current Price: PKR 108.7
Target Price: PKR 120

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 2 January, 2017

BUY recommendations are ABL, ACPL, ASC, BAHL, DGKC, EFERT, ENGRO, FATIMA, FCCL, FFBL, FFC, INDU, KEL, KOHC, MLCF, NBP, NML, OGDC, PAEL, PIOC, PPL, PSMC, PSO, PTC and TGL.

Top gainers of last week were: Pak Tobacco, Engro Foods Ltd., IGI Insurance, Saif Power Ltd., Nishat Power, Honda Atlas Cars, Philip Morris Pak., Fauji CementXD, Jah.Sidd. Co. and Arif Habib Corp.

Top losers of last week were: Bata (Pak), J.D.W.Sugar, Habib Metropol., Adamjee Ins., Murree Brewery, Faysal Bank, Pak Int.Bulk, Mari Petroleum, National Refinery and Pak Suzuki.

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

The Pakistan Stock Exchange (PSX) market index witnessed a slightly dull week before entering the new year, lack of substantive institutional participation and muted foreign interest due to Christmas holidays are the chief reasons explaining the lull. KSE-100 index has reached on 4 7,807 by increasing 1173 points or 2.52 %.While KSE-30 index has reached on 25,852 by increasing 700 points or 2.78 %.

Foreign selling took a breather as Christmas holidays kept a lid on offshore activity. The market gained 1,172 points during the week with average daily volumes dialing in at 276mn shares.

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


  • The index was helped by key banking names on account of earnings excitement which saw HBL, BAHL, BAFL and UBL gather investor’s interest
  • Oil marketing sector was in the limelight amid price increase announced by GoP which ignited expectations of sizeable inventory gains
  • The release of fertilizer statistics hinted at rising offtake for both Urea and DAP, which helped in forming strong expectations regarding earnings
  • Cement stalwarts recorded a mild rally upon release of sales data as the broader theme of growth in offtake stayed intact
  • FCCL was in for another ascent as market chatter suggests the company reinitializing its damaged production line earlier than expected
  • The M&A arena saw BWCL as the latest to show its interest in acquiring DCL’s north plant
  • The government is planning to privatise five public sector enterprises (PSEs), including KotAddu Power Company Limited (KAPCO), Pakistan Steel Mills (PSM), Industrial Development Bank Ltd (IDBL) and Mari Petroleum Company Limited, in calendar year 2017 
  • The three new projects to be financed by China fall on the western route of the corridor. They include a 280kilomtre road from Raikot to Thakot at a cost of Rs8bn, 210km dual carriageway from Yarik to Zhob (Rs80bn), and a 110km road from Basima to Khuzdar (Rs19.76bn)  
  • The government has slashed gas prices for the power sector by about 35 per cent to Rs 400 per MMBTU from Rs 613 per MMBTU aimed at eliminating price disparity and reduce electricity generation cost. In accordance with Fertilizer Policy 2001, the industrial sector gas sale price will also be applicable to fertilizer sector (fuel stock); and General Sales Tax would be charged @ Rs 100 per MMBTU on the gas sale price for the aforesaid consumers 
  • The Ministry of Petroleum has officially taken administrative control of Oil & Gas Regulatory Authority (Ogra) and has requested the Prime Minister to reappoint Amir Naseem as Member Gas, who retired on December 22
  • The Balochistan government has imposed with immediate effect a ban on transfer of land in the port city of Gwadar for three months. The provincial revenue department has issued an official notification
  • CNG prices increased by PkR3.5/kg across Sindh, the first hike following the GoP’s decision to deregulate the country’s CNG market
  • ECC of the cabinet approved export of 225K tons of sugar without any rebate and allocation of 26MMCFD gas to EFERT old plant


Following are few BUY recommendations:

Allied Bank Limited (ABL) – BUY 
Current Price: PKR 119.21
Target Price: PKR 132

Attock Cement (ACPL) – BUY 
Current Price: PKR 336.3
Target Price: PKR 391

Al Shaheer Corpporation Ltd. (ASC) – BUY 
Current Price: PKR 57.40
Target Price: PKR 82

Bank Al-Habib Limited (BAHL) – BUY 
Current Price: PKR 58.99
Target Price: PKR 70

Dera Ghazi Khan Cement (DGKC) – BUY 
Current Price: PKR 221.7
Target Price: PKR 272

ENGRO Fertilizer Limited (EFERT) – BUY 
Current Price: PKR 68.0
Target Price: PKR 83

Engro Corporation (ENGRO) – BUY
Current Price: PKR 316.09
Target Price: PKR 361

Fatima Fertilizer (FATIMA) – BUY 
Current Price: PKR 36.9
Target Price: PKR 40

Fauji Cement Company Limited (FCCL) – BUY 
Current Price: PKR 45.1
Target Price: PKR 52

Fauji Fert Bin Qasim (FFBL) – BUY 
Current Price: PKR 51.21
Target Price: PKR 60

Fauji Fertilizer Company (FFC) – BUY 
Current Price: PKR 104.37
Target Price: PKR 117

Indus Motors (INDU) – BUY
Current Price: PKR 1614
Target Price: PKR 1735

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

Kohat Cement (KOHC) – BUY
Current Price: PKR 291.6
Target Price: PKR 353

Maple Leaf Cement (MLCF) – BUY 
Current Price: PKR 127.6
Target Price: PKR 165

National Bank of Pakistan (NBP) – BUY 
Current Price: PKR 75
Target Price: PKR 80

Nishat Mills Limited (NML) – BUY 
Current Price: PKR 152
Target Price: PKR 172

Oil & Gas Development Co. (OGDC) – BUY 
Current Price: PKR 165.4
Target Price: PKR 200

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

Pioneer Cement Limited (PIOC) – BUY 
Current Price: PKR 142.1
Target Price: PKR 161

Pakistan Petroleum Limited (PPL) – BUY 
Current Price: PKR 188.2
Target Price: PKR 218

Pak Suzuki Motors (PSMC) – BUY 
Current Price: PKR 613
Target Price: PKR 661

Pakistan State Oil (PSO) – BUY 
Current Price: PKR 434.2
Target Price: PKR 490

Pakistan Telecommunications (PTC) – BUY 
Current Price: PKR 17.18
Target Price: PKR 21.9

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

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