Pakistan Stock Exchange (PSX) Weekly Analysis 31 Dec, 2017

BUY recommendations are:  ABL, ACPL, AICL, AKBL, APL, ASTL, BAFL, BAHL, CHCC, DGKC, ENGRO, FATIMA, FCCL, FFBL, FFC, GWLC, HASCOL, HBL, HCAR, HMB, HTL, HUBC, INDU, KOHC, LPL, LUCK, MARI, MCB, MEBL, MLCF, NBP, NATF, NCL, NCPL, NML, NPL, OGDC, PAEL, PIOC, PKGP, POL, POWER, PPL, PSMC, PSO, UBL.

Top gainers of last week were: KOHC, CHCC, PIOC, NPL, NCPL, AICL, SSGC, MUREB, FCCL, and ARM.

Top losers of last week were: IBFL, JDWS, COLG, HUMNL, POML, SNBL, PIBTL, SNGP, HBL and NCL.

Top Volume Leaders of last week: TRG, KEL, PAEL, FCCL, PTC, BOP, SSGC, DGKC, BAFL, and ISL.

The Pakistan Stock Exchange (PSX) market index closes 2017 on a happy note. KSE-100 index has closed on 40,471 by gaining 1000 points or 2.54 %. While KSE-30 index has closed on 20,216 by increasing 437 points or 2.21 %.

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

  • Local companies and mutual funds turned out to be largest buyers with US$8.2mn and US$13mn worth of net buying, respectively
  • Euphoria was also seen in trading activities with average traded volumes improving to 215mn shares/day (+55% WoW) and average traded value increasing to US$79mn/day (+53% WoW) as most of the buying was observed in heavyweight stocks 
  • The outgoing week marks the end of worst year in terms of market performance since 2008 with KSE-100 index plummeting by 15% (US dollar terms: -20%) to close at 40,471 pts
  • Tightening government restrictions on import of furnace oil
  • OGDCL’s discovery at Dhok Hussain
  • OGRA’s recommendations to increase fuel prices by Rs4-10/liter
  • Indus Motor (INDU) increasing prices with immediate effect
  • Local E&Ps came under limelight due to an increase in international crude prices to the level not seen since the mid of 2015
  • Meanwhile, select names in steel, cement, and automobile sectors were seen advancing upon notable price revisions, principally in anticipation of the New Year as well as increased input cost from recent devaluation of PKR against the greenback
  • ECC approving the FBR’s proposal to reduce RD on certain raw material items and allowing export of wheat (3m tons) and sugar (0.3m tons)
  • SECP reportedly making amendments in MTS regulations, which would allow category B securities available for purchase on credit
  • Fed gov’t restricting import of furnace oil in a bid to extend relief to the domestic refining sector
  • GoP releasing another PkR2.5bn under the PM’s export package, where total released refunds now stand at PkR16.5bn against total claims of PkR23.5bn
  • Appointment of Miftah Ismail as the as Adviser to the Prime Minister on Finance, Revenue and Economic Affairs


Following are few BUY recommendations:

Allied Bank Limited (ABL) – BUY 
Current Price: PKR 84.98   
Target Price: PKR 118

Attock Cement (ACPL) – BUY 
Current Price: PKR 170
Target Price: PKR 261

Adamjee Insurance (AICL) – BUY 
Current Price: PKR 181.01
Target Price: PKR 83

Askari Bank (AKBL) – BUY 
Current Price: PKR 19.31
Target Price: PKR 25

Attock Petroleum (APL) – BUY 
Current Price: PKR 523.08   
Target Price: PKR 729

Amreli Steels Limited (ASTL) – BUY 
Current Price: PKR 92.66   
Target Price: PKR 128

Bank Al-Falah (BAFL) – BUY 
Current Price: PKR 42.50   
Target Price: PKR 50

Bank Al-Habib (BAHL) – BUY 
Current Price: PKR 58.36 
Target Price: PKR 72

Cherat Cement Company Limited (CHCC) – BUY 
Current Price: PKR 110.91   
Target Price: PKR 140

Dera Ghazi Khan Cement (DGKC) – BUY 
Current Price: PKR 133.72   
Target Price: PKR 194

ENGRO Corporations (ENGRO) – BUY 
Current Price: PKR 274.75
Target Price: PKR 359

Fatima Fertilizer (FATIMA) – BUY 
Current Price: PKR 30.88
Target Price: PKR 45.1

Fauji Cement Company Limited (FCCL) – BUY 
Current Price: PKR 25.01
Target Price: PKR 36

Fauji Fert Bin Qasim (FFBL) – BUY 
Current Price: PKR 35.54
Target Price: PKR 50

Fauji Fertilizer Company (FFC) – BUY 
Current Price: PKR 79.11   
Target Price: PKR 87

General Tyre & Rubber (GTYR) – BUY 
Current Price: PKR 188.30
Target Price: PKR 239

Gharibwal Cement Ltd. (GWLC) – BUY 
Current Price: PKR 24.11
Target Price: PKR 58

Hascol Petroleum (HASCOL) – BUY 
Current Price: PKR 247.04     
Target Price: PKR 325.95

Habib Bank Limited (HBL) – BUY 
Current Price: PKR 167.09   
Target Price: PKR 248

Honda Cars (HCAR) – BUY 
Current Price: PKR 508
Target Price: PKR 707

Habib Metro Bank (HMB) – BUY 
Current Price: PKR 34.50
Target Price: PKR 50

Hi-Tech Lubricants (HTL) – BUY 
Current Price: PKR 71.00
Target Price: PKR 116

HUBCO (HUBC) – BUY 
Current Price: PKR 91.00   
Target Price: PKR 138.7

Indus Motors (INDU) – BUY 
Current Price: PKR 1,680
Target Price: PKR 2,069

Kot Addu Power Company (KAPCO) – BUY
Current Price: PKR 53.90       
Target Price: PKR 85.00

Kohat Cement (KOHC) – BUY
Current Price: PKR 141.96 
Target Price: PKR 248

Lalpir Power (LPL) – BUY 
Current Price: PKR 22.53
Target Price: PKR 30

Lucky Cement (LUCK) – BUY 
Current Price: PKR 517.41   
Target Price: PKR 785

MARI Petroleum (MARI) – BUY 
Current Price: PKR 1,423.2
Target Price: PKR 2,177

Muslim Commercial Bank (MCB) – BUY 
Current Price: PKR 212.32 
Target Price: PKR 230

Meezan Bank (MEBL) – BUY 
Current Price: PKR 67.10   
Target Price: PKR 80

Maple Leaf Cement (MLCF) – BUY 
Current Price: PKR 68.44   
Target Price: PKR 107

National Foods (NATF) – BUY 
Current Price: PKR 324.16
Target Price: PKR 395

National Bank of Pakistan (NBP) – BUY 
Current Price: PKR 48.56
Target Price: PKR 74

Nishat Chunian (NCL) – BUY 
Current Price: PKR 45.77
Target Price: PKR 69

Nishat Chunian Power (NCPL) – BUY 
Current Price: PKR 32.91 
Target Price: PKR 50

Nishat Mills (NML) – BUY 
Current Price: PKR 149.50
Target Price: PKR 169

Nishat Power (NPL) – BUY 
Current Price: PKR 34 
Target Price: PKR 51

Oil & Gas Development Co. (OGDC) – BUY 
Current Price: PKR 162.79   
Target Price: PKR 175

Pak Elecktron (PAEL) – BUY 
Current Price: PKR 47.5   
Target Price: PKR 88

Pioneer Cement Limited (PIOC) – BUY 
Current Price: PKR 63.12   
Target Price: PKR 109

Pakgen Power Limited (PKGP) – BUY 
Current Price: PKR 22.13
Target Price: PKR 34

Pakistan Oilfields (POL) – BUY 
Current Price: PKR 594.26
Target Price: PKR 677

Power Cement (POWER) – BUY 
Current Price: PKR 8.74
Target Price: PKR 16

Pakistan Petroleum (PPL) – BUY 
Current Price: PKR 205.91
Target Price: PKR 239

Pak Suzuki Motors (PSMC) – BUY 
Current Price: PKR 497.77
Target Price: PKR 620

Pakistan State Oil (PSO) – BUY 
Current Price: PKR 293.11   
Target Price: PKR 392

Tariq Glass (TGL) – BUY 
Current Price: PKR 95 
Target Price: PKR 122

United Bank Limited (UBL) – BUY 
Current Price: PKR 187.97
Target Price: PKR 238

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. The information given in this blog /forum (http://www.karachistockexchange.org/) is as of the date of this post and there can be no assurance that future results or events will be consistent with this information. This post is provided for assistance only and is not intended to be and must not alone be taken as the basis for any investment decision. The user assumes the entire risk of any use made of this information. Each viewer of this post should make such investigation as it deems necessary to arrive at an independent evaluation of an investment in the securities of companies referred to in this post (including the merits and risks involved), and should consult his or her own advisors to determine the merits and risks of such investment. This blog /forum (http://www.karachistockexchange.org/)  or any of its affiliates shall not be in any way responsible for any loss or damage that may be arise to any person from any inadvertent error in the information contained in this post.

Written by: Rana Khuram

Pakistan Stock Exchange (PSX) Weekly Analysis 23 Dec, 2017

BUY recommendations are:  ABL, ACPL, AICL, AKBL, APL, ASTL, BAFL, BAHL, CHCC, DGKC, EFERT, ENGRO, FATIMA, FCCL, FFBL, FFC, GWLC, GTYR, HASCOL, HBL, HCAR, HMB, HTL, HUBC, INDU, KOHC, LPL, LUCK, MARI, MCB, MEBL, MLCF, NBP, NATF, NCL, NCPL, NML, NPL, OGDC, PAEL, PIOC, PKGP, POL, POWER, PPL, PSMC, PSO, UBL.

Top gainers of last week were: ACPL, COLG, UBL, PGF, EFUG, SHFA, CSAP, ABOT, HBL and INIL.

Top losers of last week were: AICL, IBFL, THALL, NESTLE, TRG, POL, JGICL, HUMNL, BATA and NATF.

Top Volume Leaders of last week: TRG, KEL, BOP, DGKC, PAEL, FCCL, NBP, ENGRO, HBL  and ISL.

The Pakistan Stock Exchange (PSX) market index showed intense volatility throughout the week, after going down to as low as 37,768 points but rallied towards the end of the week, closing the market at 39,470 points (↑824 points and 2.13% W/W). KSE-100 index has closed on 39,471 by gaining 825 points or 2.13 %. While KSE-30 index has closed on 19,779 by gaining 499 points or 2.58 %.

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

  • The average volume traded on the all-share index was recorded at 222.85mn shares, while 98.49mn were traded on the main board
  • Foreigners sold US$5.4mn during the week vs. selling of US$8.9mn last week. On the local front, Individual were net buyers of US$2.0mn worth of shares whereas Banks were net sellers of US$4.5mn
  • The late surge in buying this week could be attributed to Nawaz Sharif’s announcement of support for his brother to be PML-N’s next Prime Minister Candi-date. This announcement, coupled with the Senate’s decision to pass the delimitation bill, which will pave the way for the elections to be held on time next year, served as positive triggers for the market. This helped raise investor sentiments and paved the way for a buying spree. Foreign investors were net buyers in the previous week, as FIPI showed a net inflow of USD1.84mn
  • Following China’s announcement of cuts in their steel production in the preceding month, expectations of higher global steel prices have caused a massive buying spree in the steel sector, with a W/W change of 4.70%
  • The banking sector came out as the top performing sector, showing a change of 5.40% W/W. Individual stocks from the aforementioned sector which were among the top 10 performing stocks included UBL (↑ 11.21% W/W) and HBL (↑ 6.63% W/W). The better performance was largely due to expectations of an in-crease in the interest rate after the recent PKR depreciation
  • Asian Development Bank (ADB) on Monday approved $480 million in three loans to improve various economic sectors of the country’s biggest province Punjab
  • Approval of US$825mn loan by World Bank for Pakistan
  • K-Electric has planned to invest Rs 335 billion by 2023 in power production and distribution sectors of Karachi
  • Textile exports increased around eight percent to $5.51 billion during the first five months of the current fiscal year of 2017/18 as value-added sector posted a decent growth
  • United Motors revealing its plan to launch 800cc car and pickup in co-operation with Chinese bike maker-‘United Auto Industries'


Following are few BUY recommendations:

Allied Bank Limited (ABL) – BUY 
Current Price: PKR 81.50 
Target Price: PKR 90

Attock Cement (ACPL) – BUY 
Current Price: PKR 170.28
Target Price: PKR 261

Adamjee Insurance (AICL) – BUY 
Current Price: PKR 46.21
Target Price: PKR 83

Askari Bank Limited (AKBL) – BUY 
Current Price: PKR 18.89 
Target Price: PKR 25

Attock Petroleum (APL) – BUY 
Current Price: PKR 499.29 
Target Price: PKR 729

Amreli Steels Limited (ASTL) – BUY 
Current Price: PKR 87.2
Target Price: PKR 128

Bank Al-Falah (BAFL) – BUY 
Current Price: PKR 41.62 
Target Price: PKR 50

Bank Al-Habib (BAHL) – BUY 
Current Price: PKR 57.09
Target Price: PKR 72

Cherat Cement Company Limited (CHCC) – BUY 
Current Price: PKR 95.88 
Target Price: PKR 140

Dera Ghazi Khan Cement (DGKC) – BUY 
Current Price: PKR 121.17 
Target Price: PKR 194

Engro Fertilizer (EFERT) – BUY 
Current Price: PKR  64.5
Target Price: PKR  79.0

ENGRO Corporations (ENGRO) – BUY 
Current Price: PKR 277.36
Target Price: PKR 359

Fatima Fertilizer (FATIMA) – BUY 
Current Price: PKR 30.20
Target Price: PKR 45.1

Fauji Cement Company Limited (FCCL) – BUY 
Current Price: PKR 22.56
Target Price: PKR 36

Fauji Fert Bin Qasim (FFBL) – BUY 
Current Price: PKR 34.24
Target Price: PKR 50

Fauji Fertilizer Company (FFC) – BUY 
Current Price: PKR 76.88 
Target Price: PKR 87

General Tyre & Rubber (GTYR) – BUY 
Current Price: PKR 190.26
Target Price: PKR 239

Gharibwal Cement Ltd. (GWLC) – BUY 
Current Price: PKR 21.14
Target Price: PKR 58

Hascol Petroleum (HASCOL) – BUY 
Current Price: PKR 230.48   
Target Price: PKR 325.95

Habib Bank Limited (HBL) – BUY 
Current Price: PKR 170.07 
Target Price: PKR 248

Honda Cars (HCAR) – BUY 
Current Price: PKR 506
Target Price: PKR 707

Habib Metro Bank (HMB) – BUY 
Current Price: PKR 34
Target Price: PKR 50

Hi-Tech Lubricants (HTL) – BUY 
Current Price: PKR 68.75
Target Price: PKR 116

HUBCO (HUBC) – BUY 
Current Price: PKR 91.40 
Target Price: PKR 138.7

Indus Motors (INDU) – BUY 
Current Price: PKR 1,680.53
Target Price: PKR 2,069

Kot Addu Power Company (KAPCO) – BUY
Current Price: PKR 53.99     
Target Price: PKR 65.00

Kohat Cement (KOHC) – BUY
Current Price: PKR 122.11
Target Price: PKR 248

Lalpir Power (LPL) – BUY 
Current Price: PKR 21.18
Target Price: PKR 30

Lucky Cement (LUCK) – BUY 
Current Price: PKR 475.18 
Target Price: PKR 785

MARI Petroleum (MARI) – BUY 
Current Price: PKR 1,411
Target Price: PKR 2,177

Muslim Commercial Bank (MCB) – BUY 
Current Price: PKR 202.45
Target Price: PKR 230

Meezan Bank Limited (MEBL) – BUY 
Current Price: PKR 65.00
Target Price: PKR 80

Maple Leaf Cement (MLCF) – BUY 
Current Price: PKR 68.77 
Target Price: PKR 107

National Bank of Pakistan (NBP) – BUY 
Current Price: PKR 46.70
Target Price: PKR 52

National Foods (NATF) – BUY 
Current Price: PKR 300
Target Price: PKR 395

Nishat Chunian (NCL) – BUY 
Current Price: PKR 46.46
Target Price: PKR 58

Nishat Chunian Power (NCPL) – BUY 
Current Price: PKR 29.12
Target Price: PKR 33

Nishat Mills (NML) – BUY 
Current Price: PKR 146.35
Target Price: PKR 169

Nishat Power (NPL) – BUY 
Current Price: PKR 30.06
Target Price: PKR 35

Oil & Gas Development Co. (OGDC) – BUY 
Current Price: PKR 162.14 
Target Price: PKR 175

Pak Elecktron (PAEL) – BUY 
Current Price: PKR 47.5
Target Price: PKR 88

Pioneer Cement Limited (PIOC) – BUY 
Current Price: PKR 54.94 
Target Price: PKR 109

Pakgen Power Limited (PKGP) – BUY 
Current Price: PKR 21.74
Target Price: PKR 34

Pakistan Oilfields (POL) – BUY 
Current Price: PKR 588.21
Target Price: PKR 677

Power Cement (POWER) – BUY 
Current Price: PKR 8.69
Target Price: PKR 16

Pakistan Petroleum (PPL) – BUY 
Current Price: PKR 198.40
Target Price: PKR 239

Pak Suzuki Motors (PSMC) – BUY 
Current Price: PKR 482.22
Target Price: PKR 620

Pakistan State Oil (PSO) – BUY 
Current Price: PKR 289.77 
Target Price: PKR 392

Tariq Glass (TGL) – BUY 
Current Price: PKR 90
Target Price: PKR 122

United Bank Limited (UBL) – BUY 
Current Price: PKR 182.80
Target Price: PKR 238

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. The information given in this blog /forum (http://www.karachistockexchange.org/) is as of the date of this post and there can be no assurance that future results or events will be consistent with this information. This post is provided for assistance only and is not intended to be and must not alone be taken as the basis for any investment decision. The user assumes the entire risk of any use made of this information. Each viewer of this post should make such investigation as it deems necessary to arrive at an independent evaluation of an investment in the securities of companies referred to in this post (including the merits and risks involved), and should consult his or her own advisors to determine the merits and risks of such investment. This blog /forum (http://www.karachistockexchange.org/)  or any of its affiliates shall not be in any way responsible for any loss or damage that may be arise to any person from any inadvertent error in the information contained in this post.

Written by: Rana Khuram

Pakistan Stock Exchange (PSX) Weekly Analysis 16 Dec, 2017

BUY recommendations are:  ABL, ACPL, AICL, APL, ASTL, BAFL, BAHL, CHCC, DGKC, ENGRO, FATIMA, FCCL, FFBL, FFC, GWLC, HASCOL, HBL, HCAR, HMB, HTL, HUBC, INDU, KOHC, LPL, LUCK, MARI, MCB, MLCF, NBP, NATF, NCL, NCPL, NML, NPL, OGDC, PAEL, PIOC, PKGP, POL, POWER, PPL, PSMC, PSO, UBL.

Top gainers of last week were: COLG, NCPL, SHFA, OLPL, IBFL, ENGRO, PPL, NCL, NESTLE and PAKT.

Top losers of last week were: ATRL, JSCL, TRG, INIL, ISL, JLICL, HASCOL, SSGC, NRL and PAEL.

Top Volume Leaders of last week: TRG, KEL, PAEL, SNGP, BAFL, SSGC, HBL, ENGRO, ISL, and BOP.

The Pakistan Stock Exchange (PSX) market index declined by 434pts WoW (~1.1%) to 38,646 pts owing to 3.6%WoW slide in PKR/USD and deadlock on Delimitation Act which could delay general elections. KSE-100 index has closed on 38,646 by losing -434 points or -1.11%. While KSE-30 index has closed on 19,280 by decreasing -211 points or -1.08 %.

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

  • Amidst the inevitable Rupee devaluation against the US dollar and continued political uncertainty arising from judicial developments, the KSE-100 index weakened
  • Rupee fell another 1.4 percent on Monday, slumping for a second day, after the central bank apparently allowed market-based adjustments in the currency and analysts believe it may slide even further in the near-term to help arrest the country’s falling exporters. Rupee closed at 108.41 to a dollar, which was far its previous low of 107 in the interbank market. In morning, the rupee even touched 109.25/dollar. Traders and currency analysts said rupee tumbled in an ‘apparent’ devaluation by the central bank
  • PKR depreciation caused Cements (-6.0%WoW), Engineering (-9.0%WoW), OMCs (-2.8%WoW), Autos (-2.7%WoW), and Refineries (-8.8%WoW) valuations to decline contributing -214/-83/-53/-52/-40pts to index whereas E&Ps (+1.9%WoW) drove index up by 117pts
  • Market sentiment cratered under a ‘controlled’ devaluation exercise by the SBP which saw the PkR lose 4.6%WoW against the Greenback, leading participants to raise concerns over the knock-on effects on the import bill, inflation and consumer confidence
  • Supreme Court ruling in favor of PTI Chairman Imran Khan in a disqualification case, while disqualifying PTI General Secretary Jahangir Khan Tareen
  • Supreme Court dismissing NAB’s appeal to reopen the Hudaibiya Paper Mills case
  • NA speaker hinting towards early dissolution of assemblies, while later refuted by PM Shahid Khaqan Abbasi
  • The market is expected to remain lacklustre in the upcoming sessions, with political uncertainty reaching its peak
  • Long steel manufacturers raising re-bars prices by ~PkR5000/ton
  • Trading activity picked up during the week where average daily traded value rose by 14% to USD61mn in spite of 4%WoW dip in average daily traded volumes to 135mn shares
  • Automobile Sales for the month of Nov-17 fell 9% sequentially but increased 4% YoY as the year-end effect kicked in. However the overall 5MFY18 performance remained strong, up 22% YoY
  • Individuals/Foreigners remained major net sellers as they offloaded shares worth USD17.8mn/USD8.9mn during the week. Banks/Companies/Mutual Funds absorbed the major selling with net buying of USD11.3mn/USD10.7mn/USD6.5mn
  • The share purchase agreement (SPA) signed between Kot Addu Power Company Ltd (Kapco) and Dawood Hercules Corporation and ‘other shareholders’ has fallen apart, a stock exchange filing said on Friday. Kapco had signed the SPA for the acquisition of 201 million shares (approximately 17.37pc) in Hub Power Company (Hubco)
  • Jet fuel shortage on the horizon in Pakistan
  • The merchandise trade deficit swelled nearly 29 per cent to $15.03 billion in the first five months of this fiscal year, the Pakistan Bureau of Statistics said on Monday
  • Engro Elengy Terminal Private Limited (EETPL) signed an LNG Supply Agreement (LSA) with Sui Southern Gas Company (SSGC) for provision of additional 200 mmscfd gas
  • Auto-part maker Loads Ltd will begin local manufacturing of alloy wheels
  • Nishat Mills (NML) notified the bourse that Hyundai Nishat Motors (HNML) has planned ground breaking for auto manufacturing project on Dec 20, 2017, while its new spinning facility with 49.5k spindles (22k relocated) will commence commercial production on the same date
  • A major development on the macroeconomic front was seen during the week as the State Bank of Pakistan (SBP) let the Rupee fall by 6% against the Greenback, reportedly after partially agreeing to IMF’s demands of over 15% demands 
  • Approval of US$700mn allocation under Coalition Support Fund (CSF) program
  • Cement manufacturers coming under the spotlight on usage of groundwater in the Potohar


Following are few BUY recommendations:

Allied Bank Limited (ABL) – BUY 
Current Price: PKR 78.51   
Target Price: PKR 90

Attock Cement (ACPL) – BUY 
Current Price: PKR 150.1
Target Price: PKR 261

Adamjee Insurance (AICL) – BUY 
Current Price: PKR 48.79
Target Price: PKR 83

Attock Petroleum (APL) – BUY 
Current Price: PKR 509.23   
Target Price: PKR 729

Amreli Steels Limited (ASTL) – BUY 
Current Price: PKR 84.65   
Target Price: PKR 128

Bank Al-Falah (BAFL) – BUY 
Current Price: PKR 39.32   
Target Price: PKR 50

Bank Al-Habib (BAHL) – BUY 
Current Price: PKR 54.6
Target Price: PKR 72

Cherat Cement Company Limited (CHCC) – BUY 
Current Price: PKR 90.90   
Target Price: PKR 140

Dera Ghazi Khan Cement (DGKC) – BUY 
Current Price: PKR 123.17   
Target Price: PKR 194

ENGRO Corporations (ENGRO) – BUY 
Current Price: PKR 268.66
Target Price: PKR 359

Fatima Fertilizer (FATIMA) – BUY 
Current Price: PKR 28.25
Target Price: PKR 45.1

Fauji Cement Company Limited (FCCL) – BUY 
Current Price: PKR 22.81
Target Price: PKR 36

Fauji Fert Bin Qasim (FFBL) – BUY 
Current Price: PKR 33.15
Target Price: PKR 50

Fauji Fertilizer Company (FFC) – BUY 
Current Price: PKR 75.46   
Target Price: PKR 87

General Tyre & Rubber (GTYR) – BUY 
Current Price: PKR 180.13
Target Price: PKR 239

Gharibwal Cement Ltd. (GWLC) – BUY 
Current Price: PKR 22.10
Target Price: PKR 58

Hascol Petroleum (HASCOL) – BUY 
Current Price: PKR 222.9   
Target Price: PKR 325.95

Habib Bank Limited (HBL) – BUY 
Current Price: PKR 158.63   
Target Price: PKR 248

Honda Cars (HCAR) – BUY 
Current Price: PKR 508
Target Price: PKR 707

Habib Metro Bank (HMB) – BUY 
Current Price: PKR 33
Target Price: PKR 50

Hi-Tech Lubricants (HTL) – BUY 
Current Price: PKR 65.70
Target Price: PKR 116

HUBCO (HUBC) – BUY 
Current Price: PKR 93.76   
Target Price: PKR 138.7

Indus Motors (INDU) – BUY 
Current Price: PKR 1,680
Target Price: PKR 2,069

Kot Addu Power Company (KAPCO) – BUY
Current Price: PKR 53.93     
Target Price: PKR 85.00

Kohat Cement (KOHC) – BUY
Current Price: PKR 123.17 
Target Price: PKR 248

Lalpir Power (LPL) – BUY 
Current Price: PKR 21.72
Target Price: PKR 30

Lucky Cement (LUCK) – BUY 
Current Price: PKR 454.81   
Target Price: PKR 785

MARI Petroleum (MARI) – BUY 
Current Price: PKR 1,462.2
Target Price: PKR 2,177

Muslim Commercial Bank (MCB) – BUY 
Current Price: PKR 196.64 
Target Price: PKR 230

Maple Leaf Cement (MLCF) – BUY 
Current Price: PKR 66.14 
Target Price: PKR 107

National Bank of Pakistan (NBP) – BUY 
Current Price: PKR 43.57
Target Price: PKR 74

National Foods (NATF) – BUY 
Current Price: PKR 313
Target Price: PKR 395

Nishat Chunian (NCL) – BUY 
Current Price: PKR 46.29
Target Price: PKR 69

Nishat Chunian Power (NCPL) – BUY 
Current Price: PKR 29.6
Target Price: PKR 33

Nishat Mills (NML) – BUY 
Current Price: PKR 142.13
Target Price: PKR 169

Nishat Power (NPL) – BUY 
Current Price: PKR 30.0
Target Price: PKR 35

Oil & Gas Development Co. (OGDC) – BUY 
Current Price: PKR 156.70   
Target Price: PKR 175

Pak Elecktron (PAEL) – BUY 
Current Price: PKR 45.4   
Target Price: PKR 88

Pioneer Cement Limited (PIOC) – BUY 
Current Price: PKR 53.49   
Target Price: PKR 109

Pakgen Power Limited (PKGP) – BUY 
Current Price: PKR 21.85
Target Price: PKR 34

Pakistan Oilfields (POL) – BUY 
Current Price: PKR 615.06
Target Price: PKR 677

Power Cement (POWER) – BUY 
Current Price: PKR 7.88
Target Price: PKR 16

Pakistan Petroleum (PPL) – BUY 
Current Price: PKR 201.56
Target Price: PKR 239

Pak Suzuki Motors (PSMC) – BUY 
Current Price: PKR 472.35
Target Price: PKR 620

Pakistan State Oil (PSO) – BUY 
Current Price: PKR 277.77   
Target Price: PKR 392

Tariq Glass (TGL) – BUY 
Current Price: PKR 90.2 
Target Price: PKR 122

United Bank Limited (UBL) – BUY 
Current Price: PKR 164.99
Target Price: PKR 238

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. The information given in this blog /forum (http://www.karachistockexchange.org/) is as of the date of this post and there can be no assurance that future results or events will be consistent with this information. This post is provided for assistance only and is not intended to be and must not alone be taken as the basis for any investment decision. The user assumes the entire risk of any use made of this information. Each viewer of this post should make such investigation as it deems necessary to arrive at an independent evaluation of an investment in the securities of companies referred to in this post (including the merits and risks involved), and should consult his or her own advisors to determine the merits and risks of such investment. This blog /forum (http://www.karachistockexchange.org/)  or any of its affiliates shall not be in any way responsible for any loss or damage that may be arise to any person from any inadvertent error in the information contained in this post.

Written by: Rana Khuram

Pakistan Stock Exchange (PSX) Weekly Analysis 10 Dec, 2017

BUY recommendations are:  ABL, ACPL, AICL, APL, ASTL, BAFL, BAHL, CHCC, DGKC, ENGRO, FATIMA, FCCL, FFBL, FFC, GWLC, HASCOL, HBL, HCAR, HMB, HTL, HUBC, INDU, KOHC, LPL, LUCK, MARI, MCB, MLCF, NBP, NATF, NCL, NCPL, NML, NPL, OGDC, PAEL, PIOC, PKGP, POL, POWER, PPL, PSMC, PSO, UBL.

Top gainers of last week were: PAKT, NESTLE, BNWM, PMPK, SCBPL, NATF, IBFL, KEL, THALL and IGIIL.

Top losers of last week were: SNGP, KAPCO, NPL, NCPL, PGF, SSGC, HUBC, HASCOL, PIBTL and ATRL.

Top Volume Leaders of last week: KEL, TRG, SNGP, BOP, PAEL, SSGC, ENGRO, ISL, KAPCO, and FCCL.

The Pakistan Stock Exchange (PSX) market index continued the bearish trend from last week, declining by 2.3% (930pts) to close above 39k mark, its lowest weekly closing in 74 weeks. KSE-100 index has closed on 39,080 by losing -930 points or -2.33 %. While KSE-30 index has closed on 19,491 by decreasing -618 points or -3.07 %.

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


  • The tribunal’s report on Model town incident, though initially ignored by the market, later on sent shockwaves within the investor community ramming the index into a heavy red zone
  • OGRA’s adamant stance towards the implementation of proposed tariff regime for gas utilities dragged SNGP/SSGC down by 12.7/12.3%WoW while PSO/KAPCO slid 7.26/13.94% WoW as news circulated regarding PSO suspending fuel oil imports further aggravated by the resumption of second LNG terminal (after a brief breakdown)
  • Kot Addu Power (KAPCO) and Dawood Hercules (DAWH), in separate notices to the bourse, have mutually agreed to terminate the share purchase agreements ( SPA) and further processing of the transaction for the acquisition of Hub Power ( HUBC)
  • PSMC rallied 4.4%WoW as the auto assembler announced the launch of 4 new products including the auto gear shift version of Cultus and Mega Carry
  • US defense secretary Mattis meeting the high-ups of Pakistan acknowledging the efforts of Pakistan against war on terror, later re-iterated by the Pentagon’s statement as well
  • PSX proposing to widen existing scrip-level circuit breakers (CBs) to maximum 15%
  • Sindh notifying an additional subsidy of PkR9.3/kg on sugar exports
  • Foreign reserves jumping to US$21bn after the country received US$2.5bn through auction of Sukuk and Eurobond
  • Foreigners and Individuals were net sellers on Friday offloadingUSD1.7mn and USD5.2mn worth of shares. Companies, Banks and Mutual Funds mopped up the shares with on average USD2mn of buying each. Aggregate buying during the week totaled USD1.0mn by foreigners compared to USD39.5mn outflow the previous week
  • The dollar closed at 106 at day end possibly due to a liquidity injection by the State Bank
  • Trading volumes jumped up 26% during the week to 141mn shares while traded value increased to USD54mn; a 14% jump
  • Faced with huge current account deficit, the government may also launch ‘Overseas Pakistanis Savings Certificates’ to tap the pool of USD30bn held by Pakistanis living abroad
  • Cement sales up 6% YoY in Nov-2017
  • The Federal and Sindh governments on Tuesday joined hands with K-Electric (KEL) for an upward revision in Multi-Year Tariff (MYT) for seven years to be effective from July 2016 to June 2023, aimed at making the company financially viable by lowering recovery and losses benchmarks


Following are few BUY recommendations:

Allied Bank Limited (ABL) – BUY 
Current Price: PKR 78.98 
Target Price: PKR 90

Attock Cement (ACPL) – BUY 
Current Price: PKR 166.5
Target Price: PKR 261

Adamjee Insurance (AICL) – BUY 
Current Price: PKR 50.13
Target Price: PKR 83

Attock Petroleum (APL) – BUY 
Current Price: PKR 544.86 
Target Price: PKR 729

Amreli Steels Limited (ASTL) – BUY 
Current Price: PKR 88.31 
Target Price: PKR 128

Bank Al-Falah (BAFL) – BUY 
Current Price: PKR 38.65 
Target Price: PKR 50

Bank Al-Habib (BAHL) – BUY 
Current Price: PKR 55.5
Target Price: PKR 72

Cherat Cement Company Limited (CHCC) – BUY 
Current Price: PKR 92.04 
Target Price: PKR 140

Dera Ghazi Khan Cement (DGKC) – BUY 
Current Price: PKR 131.77 
Target Price: PKR 194

ENGRO Corporations (ENGRO) – BUY 
Current Price: PKR 260.19
Target Price: PKR 359

Fatima Fertilizer (FATIMA) – BUY 
Current Price: PKR 28.83
Target Price: PKR 45.1

Fauji Cement Company Limited (FCCL) – BUY 
Current Price: PKR 24.44
Target Price: PKR 36

Fauji Fert Bin Qasim (FFBL) – BUY 
Current Price: PKR 34.34
Target Price: PKR 50

Fauji Fertilizer Company (FFC) – BUY 
Current Price: PKR 76.56 
Target Price: PKR 87

General Tyre & Rubber (GTYR) – BUY 
Current Price: PKR 182.86
Target Price: PKR 239

Gharibwal Cement Ltd. (GWLC) – BUY 
Current Price: PKR 23.31
Target Price: PKR 58

Hascol Petroleum (HASCOL) – BUY 
Current Price: PKR 253.46     
Target Price: PKR 325.95

Habib Bank Limited (HBL) – BUY 
Current Price: PKR 155.92 
Target Price: PKR 248

Honda Cars (HCAR) – BUY 
Current Price: PKR 532
Target Price: PKR 707

Habib Metro Bank (HMB) – BUY 
Current Price: PKR 33.25
Target Price: PKR 50

Hi-Tech Lubricants (HTL) – BUY 
Current Price: PKR 71.01
Target Price: PKR 133

HUBCO (HUBC) – BUY 
Current Price: PKR 94.07 
Target Price: PKR 138.7

Indus Motors (INDU) – BUY 
Current Price: PKR 1,699
Target Price: PKR 2,069

Kot Addu Power Company (KAPCO) – BUY
Current Price: PKR 51.01     
Target Price: PKR 85.00

Kohat Cement (KOHC) – BUY
Current Price: PKR 125.5
Target Price: PKR 248

Lalpir Power (LPL) – BUY 
Current Price: PKR 22.15
Target Price: PKR 30

Lucky Cement (LUCK) – BUY 
Current Price: PKR 493.18 
Target Price: PKR 785

MARI Petroleum (MARI) – BUY 
Current Price: PKR 1,450.6
Target Price: PKR 2,177

Muslim Commercial Bank (MCB) – BUY 
Current Price: PKR 199.2
Target Price: PKR 230

Maple Leaf Cement (MLCF) – BUY 
Current Price: PKR 69.65 
Target Price: PKR 107

National Bank of Pakistan (NBP) – BUY 
Current Price: PKR 44.03
Target Price: PKR 74

National Foods (NATF) – BUY 
Current Price: PKR 334
Target Price: PKR 395

Nishat Chunian (NCL) – BUY 
Current Price: PKR 46.15
Target Price: PKR 53

Nishat Chunian Power (NCPL) – BUY 
Current Price: PKR 28
 Target Price: PKR 33

Nishat Mills (NML) – BUY 
Current Price: PKR 142.48
Target Price: PKR 169

Nishat Power (NPL) – BUY 
Current Price: PKR 30.0
Target Price: PKR 35

Oil & Gas Development Co. (OGDC) – BUY 
Current Price: PKR 155.60 
Target Price: PKR 175

Pak Elecktron (PAEL) – BUY 
Current Price: PKR 48.2 
Target Price: PKR 88

Pioneer Cement Limited (PIOC) – BUY 
Current Price: PKR 57.97 
Target Price: PKR 109

Pakgen Power Limited (PKGP) – BUY 
Current Price: PKR 22.25
Target Price: PKR 34

Pakistan Oilfields (POL) – BUY 
Current Price: PKR 605
Target Price: PKR 683

Power Cement (POWER) – BUY 
Current Price: PKR 8.34
Target Price: PKR 16

Pakistan Petroleum (PPL) – BUY 
Current Price: PKR 196.46
Target Price: PKR 239

Pak Suzuki Motors (PSMC) – BUY 
Current Price: PKR 501.55
Target Price: PKR 620

Pakistan State Oil (PSO) – BUY 
Current Price: PKR 287.05 
Target Price: PKR 392

Tariq Glass (TGL) – BUY 
Current Price: PKR 99.1
Target Price: PKR 122

United Bank Limited (UBL) – BUY 
Current Price: PKR 168.18
Target Price: PKR 238

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. The information given in this blog /forum (http://www.karachistockexchange.org/) is as of the date of this post and there can be no assurance that future results or events will be consistent with this information. This post is provided for assistance only and is not intended to be and must not alone be taken as the basis for any investment decision. The user assumes the entire risk of any use made of this information. Each viewer of this post should make such investigation as it deems necessary to arrive at an independent evaluation of an investment in the securities of companies referred to in this post (including the merits and risks involved), and should consult his or her own advisors to determine the merits and risks of such investment. This blog /forum (http://www.karachistockexchange.org/)  or any of its affiliates shall not be in any way responsible for any loss or damage that may be arise to any person from any inadvertent error in the information contained in this post.

Written by: Rana Khuram

Pakistan Stock Exchange (PSX) Weekly Analysis 3 Dec, 2017

BUY recommendations are:  ABL, ACPL, AICL, APL, ASTL, BAFL, BAHL, CHCC, DGKC, ENGRO, FATIMA, FCCL, FFBL, FFC, GWLC, HBL, HASCOL, HMB, HTL, HUBC, INDU, KOHC, LPL, LUCK, MCB, MLCF, NBP, NATF, NCL, NCPL, NML, NPL, OGDC, PIOC, PKGP, POL, POWER, PPL, PSMC, PSO, UBL.

Top gainers of last week were: PAKT, TRG, IBFL, GADT, PMPK, KEL, UBL, SCBPL, THALL, and NESTLE.

Top losers of last week were: CJPL, SNGP, NPL, PSMC, KOHC, ATRL, NRL, AICL, POML and PGF.

Top Volume Leaders of last week: KEL, TRG, ENGRO, SNGP, FCCL, PAEL, SSGC, HBL, EFERT, and OGDC.

The Pakistan Stock Exchange (PSX) market index registered only a marginal decline of 0.6% WoW to close at 40,010, thanks to a timely resolution between the government and religious parties. KSE-100 index has closed on 40,010 by losing 238 points or -0.59 %. While KSE-30 index has closed on 20,109 by decreasing 221 points or -1.09 %.

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


  • The Central Bank kept the policy rate intact at 5.75% over the weekend, where it believes economic activity remains strong with CPI inflation expected to remain well below the annual inflation target
  • Despite a peaceful end to the 21 day long sit-in that resulted in the Law Minister’s resignation, the market continued to reel under pressure, breaching 40k psychological bearer for the third time since Oct’17 but managed to close at 40,010pts 
  • Investors chose to remain on the sidelines ahead of the MSCI rebalancing on Nov 30’17 with foreigners offloading US$39.54mn worth of equities during the week vs. net outflow of US$6.28mn in the previous week
  • Foreigners sold US$39.5mn during the week (vs. selling of US$6.3mn last week). On the local front, Individuals & Insurance sector were net buyers of US$8.6mn and US$8.5mn, respectively. Selling was concentrated in Fertilizer (US$29.5mn) & Banks (US$5.5mn) whereas buying was seen in OMC sector to the tune of US$2.4mn
  • GoP raising US$2.5bn through issuance of 5-yr sukuk and 10-yr euro bond, where cut off yields were 5.625% and 6.875%, respectively
  • Supreme Court started hearing NAB’s appeal regarding re-opening of the Hudaibiya Paper Mills case
  • Fertilizer off-take remaining strong as Rabi season kicked in, with Oct’17 urea/DAP clocking in at 375k/387k tons (+4%YoY/-19%YoY)
  • ECC approving additional sugar export quota of 1mn tons with a subsidy of PkR10.70/kg
  • OGRA proposing a revised tariff for gas utilities where it seeks to apply the WACC based return on T&D networks (at 10.76/11.31% of their net regulated assets) instead of fixed ROA based returns previously
  • KEL’s tariff review hearing by NEPRA scheduled on Dec 05’17
  • Ghandhara Nissan Ltd (GNL) has closed down the production of UD trucks following the discontinuation of the said model by UD Trucks Corporation, Japan a few months ago
  • Singer Pakistan Ltd will merge with Cool Indus-tries Ltd, which produces home appliances under the brand name of Waves, a stock notice said on Monday. The name of the post-merger company will be Waves Singer Pakistan Ltd. Cool Industries will merge with and into Singer against which 94 million shares will be issued to the share-holders of Cool Industries. It will be based on a swap ratio of 1.79 shares for each share of Cool Industries
  • Sui Northern Gas Limited (SNGPL) has reportedly expressed its inability to supply 150 MMCFD system gas to Punjab-based textile industry for at least two and half months starting from December 1, 2017
  • Pakistan’s debt from foreign banks clocked in at $1.022 billion in the first four months of the current fiscal 2017/18, almost half of total foreign loans and much above the annual target
  • The sentiments progressively improved during the week as the Prime Minister agreed to utilize local furnace oil to run power plants, giving some respite to Oil Refineries, which had come under pressure during the past week due to sudden shift in government’s policy of using RLNG in place of furnace oil 
  • Pakistan Government sees bids by January 2, 2018 for financial advisers consortium to privatize Mari Petroleum (MARI), Privatization Commission said in newspaper advertisement. Proposal seeks consortium of not more than 3 members including global coordinator, consultant and book runner as Govt. seeks to divest up to 18.39% shareholding in MARI 
  • Treet Corporation (TREET) informed that trial production of battery project has started & commercial production soon after trial
  • Exide Pakistan (EXIDE) reported 1HMY18 EPS of Rs12.1 down 79% YoY due to 10% sales decline & 12ppts margin contraction
  • Century Paper and Board Mills (CEPB) has finalized expansion plan with Posco Daewoo, Korea as EPC contractor for new Coated Board plant with capacity of 130k tons per annum (As per news reports they have signed an agreement worth Rs13bn)

Following are few BUY recommendations:

Allied Bank Limited (ABL) – BUY 
Current Price: PKR 81.35 
Target Price: PKR 90

Attock Cement (ACPL) – BUY 
Current Price: PKR 175.53 
Target Price: PKR 261

Adamjee Insurance (AICL) – BUY 
Current Price: PKR 51.39
Target Price: PKR 83

Attock Petroleum (APL) – BUY 
Current Price: PKR 580.00 
Target Price: PKR 729

Amreli Steels Limited (ASTL) – BUY 
Current Price: PKR 94.01 
Target Price: PKR 128

Bank Al-Falah (BAFL) – BUY 
Current Price: PKR 40.35 
Target Price: PKR 50

Bank Al-Habib (BAHL) – BUY 
Current Price: PKR 56.50 
Target Price: PKR 72

Cherat Cement Company Limited (CHCC) – BUY 
Current Price: PKR 93.56 
Target Price: PKR 140

Dera Ghazi Khan Cement (DGKC) – BUY 
Current Price: PKR 134.38 
Target Price: PKR 194

ENGRO Corporations (ENGRO) – BUY 
Current Price: PKR 262.32
Target Price: PKR 359

Fatima Fertilizer (FATIMA) – BUY 
Current Price: PKR 30.14
Target Price: PKR 45.1

Fauji Cement Company Limited (FCCL) – BUY 
Current Price: PKR 27.04
Target Price: PKR 36

Fauji Fert Bin Qasim (FFBL) – BUY 
Current Price: PKR 35.97
Target Price: PKR 50

Fauji Fertilizer Company (FFC) – BUY 
Current Price: PKR 81.07 
Target Price: PKR 87

Gharibwal Cement Ltd. (GWLC) – BUY 
Current Price: PKR 23.84
Target Price: PKR 58

Hascol Petroleum (HASCOL) – BUY 
Current Price: PKR 264.99     
Target Price: PKR 325.95

Habib Bank Limited (HBL) – BUY 
Current Price: PKR 163 
Target Price: PKR 248

Habib Metro Bank (HMB) – BUY 
Current Price: PKR 33.18
Target Price: PKR 50

Hi-Tech Lubricants (HTL) – BUY 
Current Price: PKR 74.85
Target Price: PKR 133

HUBCO (HUBC) – BUY 
Current Price: PKR 97.65 
Target Price: PKR 138.7

Indus Motors (INDU) – BUY 
Current Price: PKR 1,741
Target Price: PKR 2,069

Kot Addu Power Company (KAPCO) – BUY
Current Price: PKR 59.27   
Target Price: PKR 85.00

Kohat Cement (KOHC) – BUY
Current Price: PKR 130.45 
Target Price: PKR 248

Lalpir Power (LPL) – BUY 
Current Price: PKR 22.17
Target Price: PKR 30

Lucky Cement (LUCK) – BUY 
Current Price: PKR 494.65 
Target Price: PKR 785

Muslim Commercial Bank (MCB) – BUY 
Current Price: PKR 204.31 
Target Price: PKR 230

Maple Leaf Cement (MLCF) – BUY 
Current Price: PKR 71.12 
Target Price: PKR 107

National Bank of Pakistan (NBP) – BUY 
Current Price: PKR 44.84
Target Price: PKR 74

National Foods (NATF) – BUY 
Current Price: PKR 304.17
Target Price: PKR 395

Nishat Chunian (NCL) – BUY 
Current Price: PKR 45.46
Target Price: PKR 53

Nishat Chunian Power (NCPL) – BUY 
Current Price: PKR 29.77 
Target Price: PKR 47

Nishat Mills (NML) – BUY 
Current Price: PKR 141.23
Target Price: PKR 169

Nishat Power (NPL) – BUY 
Current Price: PKR 31.61 
Target Price: PKR 46.9

Oil & Gas Development Co. (OGDC) – BUY 
Current Price: PKR 155.49 
Target Price: PKR 175

Pioneer Cement Limited (PIOC) – BUY 
Current Price: PKR 61.15 
Target Price: PKR 109

Pakgen Power Limited (PKGP) – BUY 
Current Price: PKR 23.04
Target Price: PKR 34

Pakistan Oilfields (POL) – BUY 
Current Price: PKR 600.36
Target Price: PKR 683

Power Cement (POWER) – BUY 
Current Price: PKR 8.63
Target Price: PKR 16

Pakistan Petroleum (PPL) – BUY 
Current Price: PKR 189.09
Target Price: PKR 239

Pak Suzuki Motors (PSMC) – BUY 
Current Price: PKR 480.40
Target Price: PKR 620

Pakistan State Oil (PSO) – BUY 
Current Price: PKR 309.53 
Target Price: PKR 392

United Bank Limited (UBL) – BUY 
Current Price: PKR 175.53
Target Price: PKR 250

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. The information given in this blog /forum (http://www.karachistockexchange.org/) is as of the date of this post and there can be no assurance that future results or events will be consistent with this information. This post is provided for assistance only and is not intended to be and must not alone be taken as the basis for any investment decision. The user assumes the entire risk of any use made of this information. Each viewer of this post should make such investigation as it deems necessary to arrive at an independent evaluation of an investment in the securities of companies referred to in this post (including the merits and risks involved), and should consult his or her own advisors to determine the merits and risks of such investment. This blog /forum (http://www.karachistockexchange.org/)  or any of its affiliates shall not be in any way responsible for any loss or damage that may be arise to any person from any inadvertent error in the information contained in this post.

Written by: Rana Khuram