Pakistan Stock Exchange (PSX) Weekly Analysis 30 April, 2018

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

Top gainers of last week were: BOP, HASCOL, UNITY, FFBL, PSEL, IBFL, OLPL, PAKT, FATIMA and PSO.

Top losers of last week were: BATA, CSAP, PIOC, PAEL, COLG, PKGS, ASTL, FML, BWCL and MLCF.

Top Volume Leaders of last week: UNITY, EPCL, PAEL, BOP, KEL, FCCL, SSGC, TRG, FATIMA, and DGKC.

The Pakistan Stock Exchange (PSX) market index remained listless for most of the outgoing week as investors awaited the upcoming budget. KSE-100 index has closed on 45,542 by gaining 283 points or 0.6%.

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

  • GIDC removal/reduction beneficiaries again gained attention of investors where, Fauji Fertilizer Company (FFC) gained 4% on last day of the week, followed by Fauji Fertilizer Bin Qasim (FFBL) +4%, and Lotte Chemicals (LOTCHEM) +2%. Resultantly, market managed to close positive, gaining 255 points (+0.6%) during the whole week, closing at 45,543 index level
  • Oil marketing sector stocks cumulatively contributed 123 points to the index, where HASCOL gained 20% in the outgoing week amid its better financial results, while PSO and SHEL gained 6% and 3%, respectively. Moreover, commercial banks and fertilizers contributed 86 and 70 points respectively 
  • Market participation in terms of volume and value rose by 9% and 8% respectively
  • Foreigners were net seller during the week amounting to US$2.8mn vs. net selling of US$41.8mn last week. On the other hand, amongst local investors Mutual Funds were net sellers of US$4mn whereas companies were net buyers of US$4.7mn
  • Fatima Fertilizer (FATIMA) announced its financial results for 1Q2018, where company reported EPS of Rs1.37, up by 27% YoY. Earnings improved due to increase in GP margins by 5ppts YoY to 60%
  • Systems Limited (SYS) announced its financial results for 1Q2018, where company reported EPS of Rs1.84, up by 52% YoY due to increase in net revenues by 18% YoY and other income by 14.5x YoY
  • AGP Limited (AGP) announced its financial results, where company recorded earnings of Rs392mn, up by 18% YoY due to increase in net sales by 33% YoY. Moreover, company also declared DPS of Rs1.25
  • Pakistan Refinery (PRL) announced its financial results for 3QFY18, where company reported EPS of Rs1.78, up by 46% YoY due to increase in other income by 28x YoY Rs997mn
  • Nishat Mills (NML) announced its financial results for 2QFY18, where company reported EPS of Rs2.17, down by 57% YoY. Earnings were down owing to trimmed GP margins of 15% vs. 17% during last year and higher effective tax rate of 27% vs. 0.7% similar period of last year
  • BOP’s positive earnings surprise lifted the stock to two consecutive upper circuits helping it gather sizeable volumes, while other retail darlings such as UNITY and KEL also featured amongst the top volume leaders
  • Cement giant LUCK unveiled its plans for a brown-field expansion at its Pezu plant in the North to the tune of 2.6MT and also an addition of 1.2MT clinker capacity in its Iraq operations. The company’s lesser than expected result on account of dwindling gross margins soured sentiments


Following are few BUY recommendations:

Allied Bank Limited (ABL) – BUY 
Current Price: PKR 102.51
Target Price: PKR 122

Attock Cement (ACPL) – BUY 
Current Price: PKR 178.37
Target Price: PKR 261

Adamjee Insurance (AICL) – BUY 
Current Price: PKR 56.74
Target Price: PKR 83

Attock Petroleum (APL) – BUY 
Current Price: PKR 632
Target Price: PKR 745.14

Amreli Steels Limited (ASTL) – BUY 
Current Price: PKR 81.94
Target Price: PKR 128

Cherat Cement (CHCC) – BUY 
Current Price: PKR 125.20
Target Price: PKR 153

Dera Ghazi Khan Cement (DGKC) – BUY 
Current Price: PKR 140.82   
Target Price: PKR 194

ENGRO Corporation (ENGRO) – BUY 
Current Price: PKR 316.92
Target Price: PKR 348.84

ENGRO Fertilizer Limited (EFERT) – BUY 
Current Price: PKR 72.53
Target Price: PKR 79.94

Fatima Fertilizer (FATIMA) – BUY 
Current Price: PKR 33.83
Target Price: PKR 45.1

Fauji Cement Company Limited (FCCL) – BUY 
Current Price: PKR 27.68   
Target Price: PKR 39

Fauji Fert. Bin Qasim Limited (FFBL) – BUY 
Current Price: PKR 43.92
Target Price: PKR 48.10

Gharibwal Cement Ltd (GWLC) – BUY 
Current Price: PKR 25.21
Target Price: PKR 58

General Tyre & Rubber (GTYR) – BUY 
Current Price: PKR 179.44
Target Price: PKR 231

Habib Bank Limited (HBL) – BUY 
Current Price: PKR 196.50
Target Price: PKR 248

Honda Cars (HCAR) – BUY 
Current Price: PKR 479
Target Price: PKR 707

Habib Metro (HMB) – BUY 
Current Price: PKR 47.25
Target Price: PKR 50

Hi-Tech Lubricant (HTL) – BUY 
Current Price: PKR 97.87
Target Price: PKR 116

HUBCO (HUBC) – BUY 
Current Price: PKR 102.40
Target Price: PKR 138.7

Indus Motors (INDU) – BUY 
Current Price: PKR 1,888   
Target Price: PKR 2,069

Kohat Cement (KOHC) – BUY
Current Price: PKR 150.55
Target Price: PKR 248

Lalpir Power (LPL) – BUY 
Current Price: PKR 20.51
Target Price: PKR 30

Lucky Cement (LUCK) – BUY 
Current Price: PKR 651.64
Target Price: PKR 827

MARI Petroleum (MARI) – BUY 
Current Price: PKR 1,516
Target Price: PKR 2,040

Muslim Commercial Bank (MCB) – BUY 
Current Price: PKR  210.76
Target Price: PKR 252

Maple Leaf Cement (MLCF) – BUY 
Current Price: PKR 69.67
Target Price: PKR 107

National Foods (NATF) – BUY 
Current Price: PKR 345
Target Price: PKR 413

National Bank of Pakistan (NBP) – BUY 
Current Price: PKR 50.80
Target Price: PKR 74

Nishat Chunian (NCL) – BUY 
Current Price: PKR 53.60
Target Price: PKR 69

Nishat Chunian Power (NCPL) – BUY 
Current Price: PKR 28.87
Target Price: PKR 50

Nishat Power (NPL) – BUY 
Current Price: PKR 31.74
Target Price: PKR 51

Oil & Gas Development Co. (OGDC) – BUY 
Current Price: PKR 168.27
Target Price: PKR 193

Pioneer Cement Limited (PIOC) – BUY 
Current Price: PKR 63.62
Target Price: PKR 109

Pakgen Power (PKGP) – BUY 
Current Price: PKR 20.30
Target Price: PKR 34

Power Cement (POWER) – BUY 
Current Price: PKR 9.75
Target Price: PKR 16

Pakistan Petroleum (PPL) – BUY 
Current Price: PKR 214.68
Target Price: PKR 239

Pak Suzuki Motors (PSMC) – BUY 
Current Price: PKR 484.74
Target Price: PKR 620

Pakistan State Oil (PSO) – BUY 
Current Price: PKR 341.14
Target Price: PKR 392

United Bank Limited (UBL) – BUY 
Current Price: PKR 199.84
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 22 April, 2018

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

Top gainers of last week were: COLG, PAKT, ABOT, UNITY, AGIL, BAFL, APL, EFERT, INDU, and KAPCO.

Top losers of last week were: NRL, DGKC, BNWM, FML, FCCL, HBL, OGDC, DGKC, and FFBL.

Top Volume Leaders of last week: EPCL, LOTCHEM, UNITY, KEL, FCCL.

The Pakistan Stock Exchange (PSX) market index ended the week down 2% WoW (-812 points) to settle at 45,388 points as budget related excitement (GIDC cut and potential impact on fertilizers) fizzled out and concerns over foreign selling, future political set up post elections and the upcoming budget caused investors to adopt caution. KSE-100 index has closed on 45,259 by losing 813 points or -1.76%. While KSE-30 index has closed on 22,309 by losing 722 points or -3.13 %.

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

  • Current account deficit widening to US$12.03bn (up 51%YoY) for 9MFY18 reflecting mounting pressure of trade deficit
  • On a sector specific basis, Textiles (+3.3% WoW) and Pharmaceuticals (+1.6% WoW) closed positive, whereas, Cements (-4.4% WoW) and Oil & gas (-3.4% WoW) closed the week down, mainly due to dip in cement prices in North region and likely increased supply in OGDC (~USD50mn) post large sell off by foreign investors during the week
  • Expected announcement of an agriculture package in the upcoming budget with relief in taxes (on imported machinery) and a hefty subsidy to support the farmers including removal of sales taxes on tractor (from 5% currently), while the Punjab gov’t increased subsidy on DAP from PkR150/bag to PkR300/bag 
  • Ghandhara Nissan signing an agreement with Renault for import of heavy commercial vehicles primarily for test & trial purposes
  • Federal government borrowing PkR34bn through auction of PIBs where many institutions were previously reluctant to lock in rates at the prevailing historic low levels 
  • Foreign exchange reserves falling to US$17.55bn (-0.53%WoW), where SBP reserves decreased by US$58.7mn ending at US$11.38bn
  • Foreigners continued to offload their holding with majority of the selling coming from OGDC’s share placement deal (~54mn shares) at PkR164/sh
  • Cumulative outflow was recorded at US$41.79mn during the week vs. inflow of US$17.45mn last week
  • Investors will keep a close eye on result announcement by large cap. companies including PSO, ENGRO, PPL, OGDC, KAPCO, HUBC, MCB, FFC, FATIMA, INDU & PSMC in the next week
  • E&Ps could garner `investors’ attention as intl. oil prices hit their 4yr high-watermark
  • Anticipation of budgetary measures will likely drive the market in the upcoming week, where GoP is scheduled to present the federal budget on Apr 27’18
  • For the first time in the annals of Parliament, Pakistan Tehreek-e-Insaf (PTI) on Wednesday announced that it is expelling its 20 MPAs for selling out their votes, for Rs 1.3 billion approximately


Following are few BUY recommendations:

Allied Bank Limited (ABL) – BUY 
Current Price: PKR 97
Target Price: PKR 122

Attock Cement (ACPL) – BUY 
Current Price: PKR 181.9
Target Price: PKR 261

Adamjee Insurance (AICL) – BUY 
Current Price: PKR 54
Target Price: PKR 83

Attock Petroleum (APL) – BUY 
Current Price: PKR 625.75
Target Price: PKR 745.14

Amreli Steels Limited (ASTL) – BUY 
Current Price: PKR 86.03
Target Price: PKR 128

Cherat Cement (CHCC) – BUY 
Current Price: PKR 127.77
Target Price: PKR 153

Dera Ghazi Khan Cement (DGKC) – BUY 
Current Price: PKR 146.25   
Target Price: PKR 194

ENGRO Corporation (ENGRO) – BUY 
Current Price: PKR 312.26
Target Price: PKR 348.84

ENGRO Fertilizer Limited (EFERT) – BUY 
Current Price: PKR 72.82
Target Price: PKR 79.94

Fatima Fertilizer (FATIMA) – BUY 
Current Price: PKR 31.88
Target Price: PKR 45.1

Fauji Cement Company Limited (FCCL) – BUY 
Current Price: PKR 28   
Target Price: PKR 39

Fauji Fert. Bin Qasim Limited (FFBL) – BUY 
Current Price: PKR 39.81
Target Price: PKR 48.10

Gharibwal Cement Ltd (GWLC) – BUY 
Current Price: PKR 26.52
Target Price: PKR 58

General Tyre & Rubber (GTYR) – BUY 
Current Price: PKR 195.23
Target Price: PKR 231

Hascol Petroleum (HASCOL) – BUY 
Current Price: PKR 267
Target Price: PKR 317.69

Habib Bank Limited (HBL) – BUY 
Current Price: PKR 197.44   
Target Price: PKR 248

Honda Cars (HCAR) – BUY 
Current Price: PKR 496
Target Price: PKR 707

Habib Metro (HMB) – BUY 
Current Price: PKR 44.95
Target Price: PKR 50

Hi-Tech Lubricant (HTL) – BUY 
Current Price: PKR 104.51
Target Price: PKR 116

HUBCO (HUBC) – BUY 
Current Price: PKR 102.46
Target Price: PKR 138.7

Indus Motors (INDU) – BUY 
Current Price: PKR 1,883.22     
Target Price: PKR 2,069

Kohat Cement (KOHC) – BUY
Current Price: PKR 155.79
Target Price: PKR 248

Lalpir Power (LPL) – BUY 
Current Price: PKR 19.62
Target Price: PKR 30

Lucky Cement (LUCK) – BUY 
Current Price: PKR 653.18
Target Price: PKR 827

MARI Petroleum (MARI) – BUY 
Current Price: PKR 1,540
Target Price: PKR 2040 

Muslim Commercial Bank (MCB) – BUY 
Current Price: PKR  211.20         
Target Price: PKR 252

Maple Leaf Cement (MLCF) – BUY 
Current Price: PKR 72.66
Target Price: PKR 107

National Foods (NATF) – BUY 
Current Price: PKR 325.60
Target Price: PKR 413

National Bank of Pakistan (NBP) – BUY 
Current Price: PKR 50.20
Target Price: PKR 74

Nishat Chunian (NCL) – BUY 
Current Price: PKR 52.02
Target Price: PKR 69

Nishat Chunian Power (NCPL) – BUY 
Current Price: PKR 29.98
Target Price: PKR 50

Nishat Power (NPL) – BUY 
Current Price: PKR 32.60
Target Price: PKR 51

Oil & Gas Development Co. (OGDC) – BUY 
Current Price: PKR 164.18     
Target Price: PKR 193

Pioneer Cement Limited (PIOC) – BUY 
Current Price: PKR 68.77
Target Price: PKR 109

Pakgen Power (PKGP) – BUY 
Current Price: PKR 19.50
Target Price: PKR 34

Power Cement (POWER) – BUY 
Current Price: PKR 9.52
Target Price: PKR 16

Pakistan Petroleum (PPL) – BUY 
Current Price: PKR 212.39
Target Price: PKR 239

Pak Suzuki Motors (PSMC) – BUY 
Current Price: PKR 482.72
Target Price: PKR 620

Pakistan State Oil (PSO) – BUY 
Current Price: PKR 321.58     
Target Price: PKR 392

United Bank Limited (UBL) – BUY 
Current Price: PKR 195.65           
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 15 April, 2018

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

Top gainers of last week were: FML, JSCL, HCAR, GHGL, JLICL, EPCL, ARPL, ATLH, FFC and DAWH.

Top losers of last week were: COLG, BATA, KAPCO, PKGS, IBFL, SHFA, FCCL, PSEL, BAHL and FABL.

Top Volume Leaders of last week: KEL, EPCL, FCCL, TRG, SSGC, PAEL, UNITY, PITBL, FFC, and JSCL.

The Pakistan Stock Exchange (PSX) market index witnessed dull trading activity during the week. KSE-100 index has closed on 46,072 by losing 566 points or -1.21%. While KSE-30 index has closed on 23,031 by losing 429 points or -1.83 %.

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

  • Following the historic verdict of supreme court today, where apex court announced “life time ban on holding of public office” for former prime minister Nawaz Sharif and PTI leader Jahangir Tareen, led index to fall by 0.6% in today’s trading session, taking full week index decline to 1.2%
  • Apart from profit taking by investors, uncertainties surrounding upcoming federal budget amidst resistance from opposition parties and hearings of key political cases in the Supreme Court hurt investor sentiments during the week
  • Banking stocks remained top laggards during the outgoing week withholding 372pts points from index, over concerns on the implementation of Amnesty and its effectiveness in materialization of foreign inflows
  • Pakistan’s foreign exchange reserves fell to USD17.6bn during the week ended April 6 from USD17.8bn a week ago
  • Foreigners remained net buyers during the week amounting to US$17.5mn vs. net buying of US$3.6mn last week. On the other hand, amongst local investors Individuals remained net buyers of US$11.9mn whereas Banks were net sellers of US$9mn
  • Foreign exchange reserves held by the State Bank of Pakistan (SBP) continued to remain under pressure, shrinking 1.4% on a weekly basis, according to data released by the central bank
  • Overseas Workers remittances touch 7 month high at USD1.77bn in Mar’18, a development that comes on the back of second round rupee devaluation against us dollar
  • The exports of merchandise posted a growth of 24%YoY to USD2.2bn in March, the Ministry of Commerce announced
  • Car sales rose 4% to 18,988 units in March over the same month a year earlier, industry data showed on Wednesday, as lower auto finance rates and growing demand from ride-hailing services piqued interest of consumers
  • Amreli Steels in a bourse filing on Monday said it has shelved plans for a partnership with a Chinese firm in an electrical transmission equipment project
  • Pakistan State Oil (PSO) this week issued its first fuel oil import tender for the year after suspending purchases at the end of 2017 ahead of an expected pickup in demand during summer. PSO in December halted imports of fuel oil amid an abrupt drop in domestic demand as the South Asian country turned to liquefied natural gas (LNG) to fuel its power sector
  • State-run Pakistan State Oil (PSO) is in talks with Power China for a partnership in an estimated USD8bn refining project in the country
  • Descon Oxychem ltd (DOL), has recently undertaken a decision to increase the production capacity of their existing hydrogen peroxide manufacturing facility
  • Shield corporation (SHIELD) posted EPS of Rs8.22 for 9MFY18, down by 17% YoY due to increase in finance cost by 64% YoY to Rs12mn and selling & distribution expense by 12% YoY to Rs334mn
  • Fertilizer stocks witnessed a steady rally during the week upon improving international dynamics on the pricing front and the approach of the quarterly earnings season. Top performers in the sector included FFC and FFBL that were buoyant upon expectations on some positive developments on the GIDC front and a cherry picking exercise by savvy investors 
  • KEL remained in the limelight throughout the week as a slew of rumours kept market players busy with anticipation of some headroom likely in the Multi-Year tariff pending review by NEPRA and rumours of the federal cabinet giving a final nod for KEL-Shanghai Electric deal
  • International oil prices swayed past the USD70/barrel mark which helped sentiments in the local E&P space but a lack of general appetite for fresh buying prevented a full blown rally in the sector. The earnings season is expected to be unrolled from the upcoming week whereby POL’s result will be keenly awaited as market players expect the company to undo a revenue reversal taken earlier on account of windfall levy on oil 
  • Agha Steel Industries Ltd (ASIL) planned to raise around five billion rupees through a local Islamic bond to propel its production to meet growing steel demand in Pakistan, the company said in a statement on Tuesday, after the steelmaker shelved its plan last year to roll out the country’s biggest-ever private sector public offer
  • Pakistan’s gross domestic product (GDP) growth is expected to accelerate to 5.6 per cent on strong prospects for large-scale manufacturing and crop harvests for a second year in a row


Following are few BUY recommendations:

Allied Bank Limited (ABL) – BUY 
Current Price: PKR 98.50
Target Price: PKR 122

Attock Cement (ACPL) – BUY 
Current Price: PKR 185.9
Target Price: PKR 261

Adamjee Insurance (AICL) – BUY 
Current Price: PKR 56.97
Target Price: PKR 83

Attock Petroleum (APL) – BUY 
Current Price: PKR 606.60
Target Price: PKR 745.14

Amreli Steels Limited (ASTL) – BUY 
Current Price: PKR 90.05
Target Price: PKR 128

Cherat Cement (CHCC) – BUY 
Current Price: PKR 128.9
Target Price: PKR 153

Dera Ghazi Khan Cement (DGKC) – BUY 
Current Price: PKR 159.6   
Target Price: PKR 194

ENGRO Corporation (ENGRO) – BUY 
Current Price: PKR 313.68
Target Price: PKR 348.84

ENGRO Fertilizer Limited (EFERT) – BUY 
Current Price: PKR 71.27
Target Price: PKR 79.94

Fatima Fertilizer (FATIMA) – BUY 
Current Price: PKR 31.97
Target Price: PKR 45.1

Fauji Cement Company Limited (FCCL) – BUY 
Current Price: PKR 29.6   
Target Price: PKR 39

Fauji Fert. Bin Qasim Limited (FFBL) – BUY 
Current Price: PKR 44.51
Target Price: PKR 48.10

Gharibwal Cement Ltd (GWLC) – BUY 
Current Price: PKR 27.52
Target Price: PKR 58

General Tyre & Rubber (GTYR) – BUY 
Current Price: PKR 200.17
Target Price: PKR 231

Hascol Petroleum (HASCOL) – BUY 
Current Price: PKR 268.84
Target Price: PKR 317.69

Habib Bank Limited (HBL) – BUY 
Current Price: PKR 209.2 
Target Price: PKR 248

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

Habib Metro (HMB) – BUY 
Current Price: PKR 44.98
Target Price: PKR 50

Hi-Tech Lubricant (HTL) – BUY 
Current Price: PKR 103.03
Target Price: PKR 116

HUBCO (HUBC) – BUY 
Current Price: PKR 104.9
Target Price: PKR 138.7

Indus Motors (INDU) – BUY 
Current Price: PKR 1,850.38   
Target Price: PKR 2,069

Kohat Cement (KOHC) – BUY
Current Price: PKR 161
Target Price: PKR 248

Lalpir Power (LPL) – BUY 
Current Price: PKR 20.9
Target Price: PKR 30

Lucky Cement (LUCK) – BUY 
Current Price: PKR 684.8
Target Price: PKR 827

MARI Petroleum (MARI) – BUY 
Current Price: PKR 1,517
Target Price: PKR 2040 

Muslim Commercial Bank (MCB) – BUY 
Current Price: PKR  214.9         
Target Price: PKR 252

Maple Leaf Cement (MLCF) – BUY 
Current Price: PKR 76
Target Price: PKR 107

National Foods (NATF) – BUY 
Current Price: PKR 314.99
Target Price: PKR 413

National Bank of Pakistan (NBP) – BUY 
Current Price: PKR 52.26
Target Price: PKR 74

Nishat Chunian (NCL) – BUY 
Current Price: PKR 52.58
Target Price: PKR 69

Nishat Chunian Power (NCPL) – BUY 
Current Price: PKR 30.52
Target Price: PKR 50

Nishat Power (NPL) – BUY 
Current Price: PKR 32.04
Target Price: PKR 51

Oil & Gas Development Co. (OGDC) – BUY 
Current Price: PKR 175.73   
Target Price: PKR 193

Pioneer Cement Limited (PIOC) – BUY 
Current Price: PKR 70
Target Price: PKR 109

Pakgen Power (PKGP) – BUY 
Current Price: PKR 21.03
Target Price: PKR 34

Power Cement (POWER) – BUY 
Current Price: PKR 9.72
Target Price: PKR 16

Pakistan Petroleum (PPL) – BUY 
Current Price: PKR 214.98
Target Price: PKR 239

Pak Suzuki Motors (PSMC) – BUY 
Current Price: PKR 501.18
Target Price: PKR 620

Pakistan State Oil (PSO) – BUY 
Current Price: PKR 332.27   
Target Price: PKR 392

United Bank Limited (UBL) – BUY 
Current Price: PKR 204.5           
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 9 April, 2018

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

Top gainers of last week were: MLCF, IBFL, BATA, POL, PAEL, GADT, FCCL, FML, MTL and ISL.

Top losers of last week were: SCBPL, PSX, PAKT, BOP, OLPL, DAWH, FATIMA, MUREB, SPWL and EFUG.

Top Volume Leaders of last week: EPCL, FCCL, KEL, TRG, PAEL, MLCF, BOP, ISL, BAFL, and SNGP.

The Pakistan Stock Exchange (PSX) market index extended its gains during the week at 46,638 level. KSE-100 index has closed on 46,638 by gaining 1078 points or 2.36 %. While KSE-30 index has closed on 23,460 by gaining 659 points or 2.89 %.

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

  • Central Bank’s decision to maintain policy rate at 6% citing that the impact of recent policy measures are yet to unfold
  • Participants largely ignored concerns raised by the Parliamentary committee over the recent delimitation exercise which could potentially lead to a delay in elections
  • Commerce division considering further reduction in custom duties on raw materials and removing regulatory duties on 57 tariff lines
  • Budget proposals flowing in where SECP proposed a flat rate of 15%/20% CGT for filers/non-filers for holding period of up to 3 years and Pakistan Banks’ Association pushing to abolish the super tax
  • Foreign reserves declining by US$152mn over the week to stand at US$17.796bn on Mar 30’18
  • Cement players sustained an upward trajectory as the passing week witnessed another price hike of Rs10/bag, taking cumulative price increase up to Rs60/bag (price increase varying in different cities) 
  • International Islamic Trade Finance Corp lending US$3.285bn to finance trade activities
  • WB approving US$145mn to expand home ownership are expected to extend some support to the foreign exchange reserves ahead
  • During the outgoing week, cement and banking sector emerged as the top performers, contributing 195/194 points respectively, as investors sentiments improved in cement sector post recent jump in cement prices by Rs50/bag and investors expectations of passing of amnesty flows through banking channel
  • Prominent gainers during the week included POL that advanced on rumors of a likely discovery in exploration efforts at Joyamair and Khaur, while cement stalwart MLCF gathered sizeable gains on account of value oriented buying. PAEL was able to recover some losses seen earlier as the company reportedly increased prices on its consumer appliances passing on the impact of the recent depreciation in PKR’s value 
  • The government Saturday decided to slash prices of petrol and diesel to provide relief to consumers in April 2018. The government has reduced prices of petrol and diesel by Rs 2.07 and Rs 2.00 per liter, respectively for April 2018. However, it decided to maintain the prices of kero-sene oil and light diesel oil at the level of March 2018. The new prices of petrol have been set at Rs 86 per liter and high speed diesel (HSD) at Rs 96.45 per liter. The prices of kerosene oil and light diesel oil (LDO) have been maintained at Rs 76.46 per liter and Rs 65.30 per liter, respectively
  • Fauji Fertilizer Company (FFC) planned to invest $39 million in Thar Energy Limited (TEL), which is setting up 330 megawatts of coal-fired power project, a bourse filing


Following are few BUY recommendations:

Allied Bank Limited (ABL) – BUY 
Current Price: PKR 99.61
Target Price: PKR 122

Attock Cement (ACPL) – BUY 
Current Price: PKR 189.88
Target Price: PKR 261

Adamjee Insurance (AICL) – BUY 
Current Price: PKR 58.06
Target Price: PKR 83

Attock Petroleum (APL) – BUY 
Current Price: PKR 606.60
Target Price: PKR 745.14

Amreli Steels Limited (ASTL) – BUY 
Current Price: PKR 91.73
Target Price: PKR 128

Cherat Cement (CHCC) – BUY 
Current Price: PKR 134.8
Target Price: PKR 153

Dera Ghazi Khan Cement (DGKC) – BUY 
Current Price: PKR 167.41 
Target Price: PKR 194

ENGRO Corporation (ENGRO) – BUY 
Current Price: PKR 318.65
Target Price: PKR 348.84

ENGRO Fertilizer Limited (EFERT) – BUY 
Current Price: PKR 70.65
Target Price: PKR 79.94

Fatima Fertilizer (FATIMA) – BUY 
Current Price: PKR 32.24
Target Price: PKR 45.1

Fauji Cement Company Limited (FCCL) – BUY 
Current Price: PKR 31.22 
Target Price: PKR 39

Fauji Fert. Bin Qasim Limited (FFBL) – BUY 
Current Price: PKR 43.62
Target Price: PKR 48.10

Gharibwal Cement Ltd (GWLC) – BUY 
Current Price: PKR 27.56
Target Price: PKR 58

General Tyre & Rubber (GTYR) – BUY 
Current Price: PKR 198.15
Target Price: PKR 231

Hascol Petroleum (HASCOL) – BUY 
Current Price: PKR 267.08
Target Price: PKR 317.69

Habib Bank Limited (HBL) – BUY 
Current Price: PKR 218.99 
Target Price: PKR 248

Honda Cars (HCAR) – BUY 
Current Price: PKR 481
Target Price: PKR 707

Habib Metro (HMB) – BUY 
Current Price: PKR 44.54
Target Price: PKR 50

Hi-Tech Lubricant (HTL) – BUY 
Current Price: PKR 106.15
Target Price: PKR 116

HUBCO (HUBC) – BUY 
Current Price: PKR 104.17
Target Price: PKR 138.7

Indus Motors (INDU) – BUY 
Current Price: PKR 1,845.92 
Target Price: PKR 2,069

Kohat Cement (KOHC) – BUY
Current Price: PKR 163.77
Target Price: PKR 248

Lalpir Power (LPL) – BUY 
Current Price: PKR 21
Target Price: PKR 30

Lucky Cement (LUCK) – BUY 
Current Price: PKR 715.86 
Target Price: PKR 827

MARI Petroleum (MARI) – BUY 
Current Price: PKR 1,517
Target Price: PKR 2040

Muslim Commercial Bank (MCB) – BUY 
Current Price: PKR 220.31       
Target Price: PKR 252

Maple Leaf Cement (MLCF) – BUY 
Current Price: PKR 79.06
Target Price: PKR 107

National Foods (NATF) – BUY 
Current Price: PKR 306.30
Target Price: PKR 413

National Bank of Pakistan (NBP) – BUY 
Current Price: PKR 52.30
Target Price: PKR 74

Nishat Chunian (NCL) – BUY 
Current Price: PKR 52.16
Target Price: PKR 69

Nishat Chunian Power (NCPL) – BUY 
Current Price: PKR 30.79
Target Price: PKR 50

Nishat Power (NPL) – BUY 
Current Price: PKR 33.31
Target Price: PKR 51

Oil & Gas Development Co. (OGDC) – BUY 
Current Price: PKR 175.66 
Target Price: PKR 193

Pioneer Cement Limited (PIOC) – BUY 
Current Price: PKR 72.18 
Target Price: PKR 109

Pakgen Power (PKGP) – BUY 
Current Price: PKR 21
Target Price: PKR 34

Power Cement (POWER) – BUY 
Current Price: PKR 9.78
Target Price: PKR 16

Pakistan Petroleum (PPL) – BUY 
Current Price: PKR 213.06
Target Price: PKR 239

Pak Suzuki Motors (PSMC) – BUY 
Current Price: PKR 498.40
Target Price: PKR 620

Pakistan State Oil (PSO) – BUY 
Current Price: PKR 335.17 
Target Price: PKR 392

United Bank Limited (UBL) – BUY 
Current Price: PKR 211.12         
Target Price: PKR 238

Thank you very much for reading this article.

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Written by: Rana Khuram