Pakistan Stock Exchange (PSX) Weekly Analysis 28 April, 2019

BUY recommendations are:  ACPL, AKBL, APL, ASTL, BAHL, BAFL, BOP, CHCC, DGKC, EFERT, EFOODS, ENGRO, EPCL, FFBL, FCCL, GWLC, HASCOL, HBL, HUBCO, INDU, KAPCO, KOHC, LOTCHEM, LUCK, MARI, MCB, MEBL, MLCF, MTL, NBP, NCL, NCPL, NML, NPL, OGDC, PAEL, PIOC, POL, PPL, PSO, SNGP, and UBL.

Top gainers of last week were:  CHCC, UBL, FCCL, HMB, INDU, ENGRO, DAWH, LUCK, and MEBL.

Top losers of last week were: PPL, FFBL, FFC, ASTL, FATIMA, PSMC, MLCF, SEARL, PSO, and ABOT.

Top Volume Leaders of last week:  BOP, LOTCHEM, KEL, PIOC, and PAEL.

The Pakistan Stock Exchange (PSX) market index started the week on a negative note, losing 888pts (-2.4%) in the first two trading sessions. Later, market recovered 727 points in three sessions and helped index to close flat. KSE-100 index closed on 37,131 by losing -161 points or - 0.43 %, while KSE-30 index closed on 17,671 by losing -68 points or - 0.39 %.

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


  • The new economic team of gov’t has decided to fine-tune the much-awaited tax amnesty scheme which will be unveiled soon as a comprehensive document
  • The government has reportedly kick started the process of renegotiation of power purchase tariffs with the IPPs to ease of burden of mounting circular debts
  • The government and pharmaceutical companies have reportedly agreed on full implementation of Statutory Regulatory Order (SRO) 1610 pertaining to the hardship cases
  • The budget deficit touched PkR1.6bn (4.2% of GDP) in the first nine months of the current fiscal year
  • The Supreme Court has restored deduction of withholding tax, sales tax and service charges on pre-paid cellular scratch cards by vacating its earlier suspension order
  • During the week, financial results for 1Q2019 were announced by the all major banks namely HBL, UBL, MCB, ABL, and MEBL. Investors went long after these announcements as NII of nearly all banks witnessed decent growth. Commercial banks added 300 points to index during last three sessions, while full week addition was 115 points 
  • Foreigners were net buyers of US$9.3mn vs. net selling of US$1.9mn last week. Among local investors, during the week banks were net buyers of US$3.1mn while mutual funds were net sellers of US$8.2mn. Companies on the other hand were net buyers of US$3.0mn
  • Jubilee Life Insurance announced its result for 1Q2019 declaring an EPS of Rs3.75 vs. Rs9.50 in same period last year. The decline in Profit After Tax is mainly due to contraction in margins by 8ppts in 1QCY19
  • Indus Motors (INDU) declared its 3QFY19 result posting an EPS of Rs42.56 vs. Rs54.35 in same period last year. Earnings were reduced by 22% YoY as a result of depletion in GP margin by 5ppts to 12%. Other income have increased by 17% YoY contributing positively to the bottom-line. INDU has declared an interim cash dividend of Rs30/share for this quarter
  • Unilever Pakistan Foods Limited (UPFL) has announced its result with an EPS of Rs87.50 in1Q2019. Revenue has increased by 3% YoY but Gross profit has declined by 4% YoY due to inflationary pressures. UPFL has declared an interim cash dividend of Rs88/share for this quarter
  • Pioneer Cement Ltd has announced its 3QFY19 result declaring an EPS of Rs1.31 vs. Rs1.81 in same period last year. PAT has declined by 28% YoY mainly due to rise in Finance cost by 2.64x compared with same period last year
  • Pakistan and the International Monetary Fund (IMF) will begin discussing the aid package for Islamabad from April 29,2019

Following are few BUY recommendations:

Attock Cement Ltd. (ACPL) – BUY 
Current Price: PKR 89.97
Target Price: PKR 142.6

Askari Bank (AKBL) – BUY 
Current Price: PKR 20.88
Target Price: PKR 28.4

Attock Petroleum (APL) – BUY 
Current Price: PKR 363.75
Target Price: PKR 479.57

Amreli Steels Limited (ASTL) – BUY 
Current Price: PKR 32.30
Target Price: PKR 58.0

Bank Al-Habib (BAHL) – BUY 
Current Price: PKR 82.66
Target Price: PKR  97.64

Bank Al-Falah (BAFL) – BUY 
Current Price: PKR 44.87
Target Price: PKR  60.1

Bank of Punjab (BOP) – BUY 
Current Price: PKR 12.71
Target Price: PKR 18.3

Cherat Cement Co Limited (CHCC) – BUY 
Current Price: PKR 45.01
Target Price: PKR 71.00

D.G. Khan Cement Co. (DGKC) – BUY 
Current Price: PKR 74.71
Target Price: PKR 105.00

Engro Fertilizer (EFERT) – BUY 
Current Price: PKR 70.57
Target Price: PKR 91.0

Engro Foods (EFOODS) – BUY 
Current Price: PKR 61.47
Target Price: PKR 80.87

Engro Corporations (ENGRO) – BUY 
Current Price: PKR 323.37
Target Price: PKR 359.6

Engro Polymer & Chemical (EPCL) – BUY 
Current Price: PKR 30.95
Target Price: PKR 46.3

Fauji Fertilizer Bin Qasim (FFBL) – BUY 
Current Price: PKR 29.01
Target Price: PKR 35.73

Fauji Cement Company (FCCL) – BUY 
Current Price: PKR 18.49
Target Price: PKR 25.3

Gharibwal Cement Ltd (GWLC) – BUY 
Current Price: PKR 12.04
Target Price: PKR 25

Hascol Petroleum (HASCOL) – BUY 
Current Price: PKR 91.23
Target Price: PKR 234.57

Habib Bank Limited (HBL) – BUY 
Current Price: PKR 127.15
Target Price: PKR 143.25

HUB Power Co. (HUBCO) – BUY 
Current Price: PKR 75.57
Target Price: PKR 136.9

Indus Motors (INDU) – BUY 
Current Price: PKR 1,348.34
Target Price: PKR 1,426.6

Kot Addu Power Co. (KAPCO) – BUY 
Current Price: PKR 42.40
Target Price: PKR 61.4

Kohat Cement Company (KOHC) – BUY 
Current Price: PKR 76.46
Target Price: PKR 111

Lotte Chemical Pak Ltd. (LOTCHEM) – BUY 
Current Price: PKR 16.88
Target Price: PKR 25.3

Lucky Cement (LUCK) – BUY 
Current Price: PKR 395.83
Target Price: PKR 605.8

Mari Petroleum Ltd. (MARI) – BUY 
Current Price: PKR   1 ,177.29
Target Price: PKR 1,983.6

Muslim Commercial Bank (MCB) – BUY 
Current Price: PKR   189.99
Target Price: PKR 224

Meezan Bank Limited (MEBL) – BUY 
Current Price: PKR 97.40
Target Price: PKR 115.80

Maple Leaf Cement (MLCF) – BUY 
Current Price: PKR 28.52
Target Price: PKR 56.6

Millat Tractors Limited (MTL) – BUY 
Current Price: PKR 902.11
Target Price: PKR 1,017

National Bank of Pakistan (NBP) – BUY 
Current Price: PKR 39.05
Target Price: PKR 66.51

Nishat Chunian Limited (NCL) – BUY 
Current Price: PKR 46.23
Target Price: PKR 55.00

Nishat Chunian Power Limited (NCPL) – BUY 
Current Price: PKR 17.92
Target Price: PKR 27.8

Nishat Mills (NML) – BUY 
Current Price: PKR 123.03
Target Price: PKR 158.00

Nishat Power Limited (NPL) – BUY 
Current Price: PKR 24.13
Target Price: PKR 32.5

Oil & Gas Development Co. (OGDC) – BUY 
Current Price: PKR 144.93
Target Price: PKR 190

Pak Elecktron Ltd (PAEL) – BUY 
Current Price: PKR 22.16
Target Price: PKR 28.20

Pioneer Cement Limited (PIOC) – BUY 
Current Price: PKR 26.09
Target Price: PKR 46.0

Pakistan Oilfields (POL) – BUY 
Current Price: PKR 438.15
Target Price: PKR 593.0

Pakistan Petroleum (PPL) – BUY 
Current Price: PKR 175.86
Target Price: PKR 208

Pakistan State Oil (PSO) – BUY 
Current Price: PKR 200.08
Target Price: PKR 298.00

Sui Northern Gas Pipeline (SNGP) – BUY 
Current Price: PKR 75.93
Target Price: PKR 96.2

United Bank Limited (UBL) – BUY 
Current Price: PKR 147.09
Target Price: PKR 154.60

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 21 April, 2019

BUY recommendations are:  ACPL, AKBL, APL, ASTL, BAHL, BAFL, BOP, CHCC, DGKC, EFERT, EFOODS, ENGRO, EPCL, FFBL, FCCL, GWLC, HASCOL, HBL, HUBCO, INDU, KAPCO, KOHC, LOTCHEM, LUCK, MARI, MCB, MEBL, MLCF, MTL, NBP, NCL, NCPL, NML, NPL, OGDC, PAEL, PIOC, POL, PPL, PSO, SNGP, and UBL.

Top gainers of last week were:  FFC, UBL, PPL, PAEL, HUBC, SNGP, NRL, NESTLE, PSMC, FCCL, HBL and MCB.

Top losers of last week were: LUCK, PSO, BOP, ISL, PMPK, BAHL, HMB, GWLC, PAKT, PIOC, HASCOL, and CHCC.

Top Volume Leaders of last week:  BOP, PAEL, KEL, UNITY, WTL and FCCL.

The Pakistan Stock Exchange (PSX) market index remain volatile throughout the week due to the series of event. KSE-100 index closed on 37,292 by losing -46 points or - 0.12 %, while KSE-30 index closed on 17,739 by gaining 88 or 0. 50 %.

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


  • On the political front, the PM announced major Cabinet Reshuffling. Finance Minister Asad Umar has stepped down from his Ministry, Dr. Hafeez Sheikh appointed Advisor on Finance after a major reshuffle in Federal Cabinet
  • Trading volume also increased by 27.7% WoW to 175.44 million shares. The Mutual funds and Foreigners were the net sellers, worth 7.10 Mn collectively. While the Banks, Companies and Individuals were net buyers, worth 7.79 Mn collectively
  • The SBP drafted a proposal to introduce Treasury Single Account (TSA) that created a havoc among the banking sector which lately clarified by the SBP that it won’t take any steps without the discussion and consultation from the stakeholders 
  • During last weekend, successful negotiations held with International Monetary Fund (IMF) in USA, as per former FM Asad Umar, which initially created some activity in the market
  • The E&P, Fertilizers, Auto and Power sectors were the positive contributors which added 148 points to the Index. While the Cement, Engineering, Pharmaceutical and Banking sectors were the major laggards that dragged down the Index by 105 points 
  • Prime Minister Imran Khan launched landmark Naya Pakistan Apna Ghar Housing Scheme
  • Engro Corporation to acquire 100% control of Engro FZE
  • OGRA has said that prices of gas are likely to be surged by 75% to 80% in the next fiscal year
  • Mari Petroleum company Limited (MPCL) notified the exchange that MPCL along with its Joint venture Partner Pakistan Petroleum Limited (PPL) has made an oil discovery at exploratory well Dharian-1 ST-3 near Rawalpindi which is 2nd consecutive discovery by Ghauri Joint venture in Ghauri Block
  • Pakistan’s textile exports were recorded at US$9.99bn during nine months (July to March) of the ongoing fiscal year. The country’s textile exports had remained at the same level of previous year, showing no growth

Following are few BUY recommendations:

Attock Cement Ltd. (ACPL) – BUY 
Current Price: PKR 87.94
Target Price: PKR 142.6

Askari Bank (AKBL) – BUY 
Current Price: PKR 19.81
Target Price: PKR 28.4

Attock Petroleum (APL) – BUY 
Current Price: PKR 368.43
Target Price: PKR 479.57

Amreli Steels Limited (ASTL) – BUY 
Current Price: PKR 35.92
Target Price: PKR 80.0

Bank Al-Habib (BAHL) – BUY 
Current Price: PKR 82.22
Target Price: PKR  97.64

Bank Al-Falah (BAFL) – BUY 
Current Price: PKR 44.45
Target Price: PKR  60.1

Bank of Punjab (BOP) – BUY 
Current Price: PKR 12.61
Target Price: PKR 18.3

Cherat Cement Co Limited (CHCC) – BUY 
Current Price: PKR 41.61
Target Price: PKR 71.00

D.G. Khan Cement Co. (DGKC) – BUY 
Current Price: PKR 73.79
Target Price: PKR 105.00

Engro Fertilizer (EFERT) – BUY 
Current Price: PKR 70.83
Target Price: PKR 91.0

Engro Foods (EFOODS) – BUY 
Current Price: PKR 61.56
Target Price: PKR 80.87

Engro Corporations (ENGRO) – BUY 
Current Price: PKR 318.70
Target Price: PKR 359.6

Engro Polymer & Chemical (EPCL) – BUY 
Current Price: PKR 33.30
Target Price: PKR 46.3

Fauji Fertilizer Bin Qasim (FFBL) – BUY 
Current Price: PKR 32.27
Target Price: PKR 43.5

Fauji Cement Company (FCCL) – BUY 
Current Price: PKR 17.65
Target Price: PKR 25.3

Gharibwal Cement Ltd (GWLC) – BUY 
Current Price: PKR 12.05
Target Price: PKR 25

Hascol Petroleum (HASCOL) – BUY 
Current Price: PKR 91.62
Target Price: PKR 234.57

Habib Bank Limited (HBL) – BUY 
Current Price: PKR 127.10
Target Price: PKR 143.25

HUB Power Co. (HUBCO) – BUY 
Current Price: PKR 76.00
Target Price: PKR 136.9

Indus Motors (INDU) – BUY 
Current Price: PKR 1,302
Target Price: PKR 1,426.6

Kot Addu Power Co. (KAPCO) – BUY 
Current Price: PKR 41.74
Target Price: PKR 61.4

Kohat Cement Company (KOHC) – BUY 
Current Price: PKR 76.45
Target Price: PKR 111

Lotte Chemical Pak Ltd. (LOTCHEM) – BUY 
Current Price: PKR 15.08
Target Price: PKR 25.3

Lucky Cement (LUCK) – BUY 
Current Price: PKR 388.22
Target Price: PKR 605.8

Mari Petroleum Ltd. (MARI) – BUY 
Current Price: PKR   1 ,178.96
Target Price: PKR 1,983.6

Muslim Commercial Bank (MCB) – BUY 
Current Price: PKR   192.27
Target Price: PKR 224

Meezan Bank Limited (MEBL) – BUY 
Current Price: PKR 94.44
Target Price: PKR 115.80

Maple Leaf Cement (MLCF) – BUY 
Current Price: PKR 29.75
Target Price: PKR 56.6

Millat Tractors Limited (MTL) – BUY 
Current Price: PKR 893.63
Target Price: PKR 1,017

National Bank of Pakistan (NBP) – BUY 
Current Price: PKR 40.31
Target Price: PKR 66.51

Nishat Chunian Limited (NCL) – BUY 
Current Price: PKR 46.75
Target Price: PKR 55.00

Nishat Chunian Power Limited (NCPL) – BUY 
Current Price: PKR 18.20
Target Price: PKR 27.8

Nishat Mills (NML) – BUY 
Current Price: PKR 125.99
Target Price: PKR 158.00

Nishat Power Limited (NPL) – BUY 
Current Price: PKR 24.30
Target Price: PKR 32.5

Oil & Gas Development Co. (OGDC) – BUY 
Current Price: PKR 144.59
Target Price: PKR 190

Pak Elecktron Ltd (PAEL) – BUY 
Current Price: PKR 22.96
Target Price: PKR 28.20

Pioneer Cement Limited (PIOC) – BUY 
Current Price: PKR 25.59
Target Price: PKR 46.0

Pakistan Oilfields (POL) – BUY 
Current Price: PKR 444.16
Target Price: PKR 593.0

Pakistan Petroleum (PPL) – BUY 
Current Price: PKR 180.22
Target Price: PKR 208

Pakistan State Oil (PSO) – BUY 
Current Price: PKR 207.33
Target Price: PKR 298.00

Sui Northern Gas Pipeline (SNGP) – BUY 
Current Price: PKR 77.29
Target Price: PKR 96.2

United Bank Limited (UBL) – BUY 
Current Price: PKR 139.87
Target Price: PKR 154.60

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 13 April, 2019

BUY recommendations are:  ACPL, AKBL, APL, ASTL, BAHL, BAFL, BOP, CHCC, DGKC, EFERT, EFOODS, ENGRO, EPCL, FFBL, FCCL, GWLC, HASCOL, HBL, HUBCO, INDU, KAPCO, KOHC, LOTCHEM, LUCK, MARI, MCB, MEBL, MLCF, MTL, NBP, NCL, NCPL, NML, NPL, OGDC, PAEL, PIOC, POL, PPL, PSO, SNGP, and UBL.

Top gainers of last week were:  HUBC, PSO, NESTLE, FABL, HBL, NBP, INDU, and UBL.

Top losers of last week were: CHCC, LUCK, DGKC, PPL, PIOC, MLCF, HASCOL, and FCCL.

Top Volume Leaders of last week:  KEL, WTL, MLCF, FCCL, and BOP.

The Pakistan Stock Exchange (PSX) market index remained volatile and market performance during the outgoing week remained under pressure, where KSE-100 index troughed at 36,579 points mid-week, lowest level since PTI’s government came to power. KSE-100 index closed on 37,338 by losing -184 points or - 0.49%, while KSE-30 index closed on 17,651 by losing 84 or - 0.47 %.

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


  • The market rumor of a potential price war in cement sector led to a further drag on the market performance
  • Pakistan, IMF at odds over PkR5.4tn tax collection target vs. 4.0tn collected in FY18
  • IMF’s forecast for Pakistan’s GDP growth rate to remain at 2.5% till 2024, and fiscal deficit to peak at 8.7% of GDP in FY20, without reforms
  • Government mulling over a gas price hike of 20-42%, effective Jul’19 to reduce losses incurred by gas companies in the outgoing financial year
  • Trade deficit declining by 14% in 9MFY19 due to sharp currency devaluation since Dec’18
  • Flattish exports during 9MFY19, posting an especially bad performance during Mar’19 (down 11% YoY)
  • Autos sales, which remained flattish at 160K units during 9MFY19, with cars of 800cc and below did exceptionally well due to removal of non-filer ban in Mar’19
  • The market during upcoming week is expected to be dominated by further news flow regarding development on IMF program, announcement of another Amnesty scheme and submission of FATF’s third implementation report on 15th April
  • The result season has started on a weak note, with APL posting below expected results, and will continue to hold sway over market performance
  • During the week, foreigners were net sellers of US$2.2mn vs. net selling of US$3.7mn last week. While, among local investors, during the week banks were net buyers of US$4.0mn while mutual funds were net sellers of US$3.4mn
  • Attock Petroleum (APL) announced 3QFY19 earnings of Rs2.9, down 80% YoY driven by lower margins during the quarter. Gross Margins of APL declined to 1.8% in 3QFY9 vs. 5.4% in same period last year. Net sales of the company improved to Rs48.9bn in 3QFY19, +8% YoY. APL has announced interim cash dividend of Rs 10/share
  • As per media reports; Policy board has recommended to form a stock market support fund to boost investor confidence on Pakistan’s capital markets, especially at a time when Pakistan’s Emerging Market status will be under scrutiny in MSCI Date of fund launch and its size is yet to be confirmed
  • Prime Minister Imran Khan has said that the government was not only giving top priority to China Pakistan Economic Corridor (CPEC) project but wanted to further expand its scope so that other countries could also become part of the gigantic project and a new era of progress and prosperity started in the region
  • The government has disbursed about Rs449 bn for development program on completion of first three quarters of 2018-19, down 26%, from Rs607bn in same period last year
  • The total liquid foreign reserves held by the country stood at US$17.2bn as on April 5, down by US$169mn. As per figures, foreign reserves held by the SBP stood at US$10.3bn whereas the net foreign reserves held by commercial banks were recorded at 6.9 bn

Following are few BUY recommendations:

Attock Cement Ltd. (ACPL) – BUY 
Current Price: PKR 8 6.1
Target Price: PKR 142.6

Askari Bank (AKBL) – BUY 
Current Price: PKR 2 0.2
Target Price: PKR 28.4

Attock Petroleum (APL) – BUY 
Current Price: PKR 381.14
Target Price: PKR 479.57

Amreli Steels Limited (ASTL) – BUY 
Current Price: PKR 36.47
Target Price: PKR 80.0

Bank Al-Habib (BAHL) – BUY 
Current Price: PKR 83.15
Target Price: PKR  97.64

Bank Al-Falah (BAFL) – BUY 
Current Price: PKR 44.64
Target Price: PKR  60.1

Bank of Punjab (BOP) – BUY 
Current Price: PKR 1 3.6
Target Price: PKR 18.3

Cherat Cement Co Limited (CHCC) – BUY 
Current Price: PKR 49.19
Target Price: PKR 71.00

D.G. Khan Cement Co. (DGKC) – BUY 
Current Price: PKR 75.37
Target Price: PKR 105.00

Engro Fertilizer (EFERT) – BUY 
Current Price: PKR 7 1.4
Target Price: PKR 91.0

Engro Foods (EFOODS) – BUY 
Current Price: PKR 62.68
Target Price: PKR 80.87

Engro Corporations (ENGRO) – BUY 
Current Price: PKR 319.7
Target Price: PKR 359.6

Engro Polymer & Chemical (EPCL) – BUY 
Current Price: PKR 3 3.8
Target Price: PKR 46.3

Fauji Fertilizer Bin Qasim (FFBL) – BUY 
Current Price: PKR 3 2.5
Target Price: PKR 43.5

Fauji Cement Company (FCCL) – BUY 
Current Price: PKR 1 7.2
Target Price: PKR 25.3

Gharibwal Cement Ltd (GWLC) – BUY 
Current Price: PKR 12.56
Target Price: PKR 25

Hascol Petroleum (HASCOL) – BUY 
Current Price: PKR 99.67
Target Price: PKR 234.57

Habib Bank Limited (HBL) – BUY 
Current Price: PKR 125.87
Target Price: PKR 143.25

HUB Power Co. (HUBCO) – BUY 
Current Price: PKR 77.12
Target Price: PKR 136.9

Indus Motors (INDU) – BUY 
Current Price: PKR 1,306.85
Target Price: PKR 1,426.6

Kot Addu Power Co. (KAPCO) – BUY 
Current Price: PKR 4 1.7
Target Price: PKR 61.4

Kohat Cement Company (KOHC) – BUY 
Current Price: PKR 7 7.5
Target Price: PKR 111

Lotte Chemical Pak Ltd. (LOTCHEM) – BUY 
Current Price: PKR 1 5.1
Target Price: PKR 25.3

Lucky Cement (LUCK) – BUY 
Current Price: PKR 396.05
Target Price: PKR 605.8

Mari Petroleum Ltd. (MARI) – BUY 
Current Price: PKR   1 ,199.9
Target Price: PKR 1,983.6

Muslim Commercial Bank (MCB) – BUY 
Current Price: PKR   189.29
Target Price: PKR 224

Meezan Bank Limited (MEBL) – BUY 
Current Price: PKR 96.14
Target Price: PKR 115.80

Maple Leaf Cement (MLCF) – BUY 
Current Price: PKR 30.97
Target Price: PKR 56.6

Millat Tractors Limited (MTL) – BUY 
Current Price: PKR 885.4
Target Price: PKR 1,017

National Bank of Pakistan (NBP) – BUY 
Current Price: PKR 40.74
Target Price: PKR 66.51

Nishat Chunian Limited (NCL) – BUY 
Current Price: PKR 47.55
Target Price: PKR 55.00

Nishat Chunian Power Limited (NCPL) – BUY 
Current Price: PKR 1 8.6
Target Price: PKR 27.8

Nishat Mills (NML) – BUY 
Current Price: PKR 126.19
Target Price: PKR 158.00

Nishat Power Limited (NPL) – BUY 
Current Price: PKR 2 3.2
Target Price: PKR 32.5

Oil & Gas Development Co. (OGDC) – BUY 
Current Price: PKR 144.43
Target Price: PKR 190

Pak Elecktron Ltd (PAEL) – BUY 
Current Price: PKR 21.89
Target Price: PKR 28.20

Pioneer Cement Limited (PIOC) – BUY 
Current Price: PKR 29.29
Target Price: PKR 46.0

Pakistan Oilfields (POL) – BUY 
Current Price: PKR 445.3
Target Price: PKR 593.0

Pakistan Petroleum (PPL) – BUY 
Current Price: PKR 177.03
Target Price: PKR 208

Pakistan State Oil (PSO) – BUY 
Current Price: PKR 212.94
Target Price: PKR 298.00

Sui Northern Gas Pipeline (SNGP) – BUY 
Current Price: PKR 7 2.6
Target Price: PKR 96.2

United Bank Limited (UBL) – BUY 
Current Price: PKR 132.72
Target Price: PKR 154.60

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

Companies Results 1st April - 8th April 2019

Shaheen Insurance (SHNI)
Profit/Loss(million): 33.000
EPS(Quarter): 0.55
EPS(Overall): 1.14
Bonus/Dividend: 2.50%

UNIVERSAL INSURANCE (UVIC)
Profit/Loss(million): 15.989
EPS(Quarter): 
EPS(Overall): 0.32
Bonus/Dividend: NIL

PICIC Insurance Limited (PIL)
Profit/Loss(million): -2.100
EPS(Quarter): -0.06
EPS(Overall): -0.34
Bonus/Dividend: NIL

Premier Insurance (PINL)
Profit/Loss(million): 120.342
EPS(Quarter): 2.38
EPS(Overall): 0.21
Bonus/Dividend: NIL

Waves Singer (WAVES)
Profit/Loss(million): 352.367
EPS(Quarter): 2.16
EPS(Overall): 2.77
Bonus/Dividend: 12.50%

Pak Elektron Limited (PAEL)
Profit/Loss(million): -4.977
EPS(Quarter): -0.01
EPS(Overall): 1.06
Bonus/Dividend: NIL

Adamjee Insurance (AICL)
Profit/Loss(million): -276.494
EPS(Quarter): -0.79
EPS(Overall): 3.54
Bonus/Dividend: 15%

Service Ind. (SRVI)
Profit/Loss(million): 563.077
EPS(Quarter): 46.81
EPS(Overall): 88.86
Bonus/Dividend: 300% , 25%B

Pakistan Reinsurance (PAKRI)
Profit/Loss(million): 290.997
EPS(Quarter): 0.97
EPS(Overall): 4.12
Bonus/Dividend: 20%

Hascol Petroleum Limited (HASCOL)
Profit/Loss(million): -1301.527
EPS(Quarter): -7.19
EPS(Overall): 1.14
Bonus/Dividend: 10% B

Gammon Pakistan (GAMON)
Profit/Loss(million): 0.545
EPS(Quarter): 0.02
EPS(Overall): 0.01
Bonus/Dividend: NIL

Pakistan Stock Exchange (PSX) Weekly Analysis 7 April, 2019

BUY recommendations are:  ACPL, AKBL, APL, ASTL, BAHL, BAFL, BOP, CHCC, DGKC, EFERT, EFOODS, EPCL, FFBL, GWLC, HASCOL, HBL, HUBCO, INDU, KAPCO, KOHC, LOTCHEM, LUCK, MARI, MCB, MLCF, MTL, NBP, NCL, NCPL, NML, NPL, OGDC, PAEL, PIOC, POL, PPL, PSO, SNGP and UBL.

Top gainers of last week were:  JLICL, EPCL, FCCL, NBP, AKBL, POL, OGDC, ABL, PIOC, and HUBC.

Top losers of last week were: NRL, SYS, ISL, GHGL, CHCC, ASTL, PSMC, HASCOL, FATIMA, and KAPCO.

Top Volume Leaders of last week:  WTL, KEL, MLCF, UNITY, and BOP.

The Pakistan Stock Exchange (PSX) market index posted 16-week highest loss, losing 2.92% WoW, with four sessions in red and one in green. KSE-100 index closed on 37,522 by losing 1127 points or -2.92%, while KSE-30 index closed on 17,735 by losing 524 or - 2.87%.

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


  • News flows of concern was a consistently pressured PkR, which slipped 0.2%WoW against the US$, fueling concerns over continued inflationary headwinds to disposable incomes and consumer demand
  • Pakistan's foreign exchange reserves rose to $17.3bn in the week ended March 29 from $15.5bn in the previous week
  • Local cement dispatches during the first 9MFY19 declined by 6%YoY to 29.45mn tonnes down from 31.31mn tonnes during the same period last year, while exports increased to 5.13m tonnes during the same period from 3.44mn tonnes
  • The OGRA has increased wellhead gas price up to 34.9% for 22 gas fields with effect from January 2019
  • Pakistan will continue to face macroeconomic challenges leading to a downgrade in the country's GDP is forecast to 3.9% for FY19, says the ADB
  • FBR is eyeing PkR300bn in revenue under the proposed tax amnesty scheme as it has advised the government to keep concessional tax rates on the assets to be declared higher, as the government mulls another tax amnesty scheme for foreign and domestic undeclared assets 
  • Average daily turnover fell 7.5%WoW to rest at US$118.7mn
  • Consequently, upcoming results season is likely to be significantly tamed in the run-up to Ramzan, with investors hunkering down and the current flight to blue-chip/mainboard stocks remaining in full-swing
  • During the outgoing week, a new stock Interloop limited (ILP) was listed on PSX and emerged as a volume leader with traded volume of 14.32mn shares during its first trading session. Unlike last two IPOs PREMA and AGP, ILP failed to maintain legacy of last two IPO stocks, who closed to their upper limits on first trading session, while ILP lost Rs0.35 per share or 1% in its value
  • During the week, foreigners were net sellers of US$3.7mn vs. net buying of US$0.5mn in last week. While, among local investors, during the week Banks were net buyers of US$4.7mn While mutual funds were net sellers of US$3.2mn
  • Pakistan faces a delay in going ahead with a bailout package of $3.2bn on account of a deferred oil and gas payment facility offered by Saudi Arabia as the latter wants the deal on its own terms
  • The cement sector continued to suffer from a lack of domestic demand due to slowdown in economic growth, lower development spending and delay in the launch of government’s low-cost housing scheme
  • The massive increase in prices of medicines has been challenged before the Lahore High Court for being made in violation of a notification of the Drug Regulatory Authority of Pakistan (DRAP)
  • The government is planning to amend Foreign Exchange Regulations Act (Fera) 1947 to regulate outflow of funds through foreign currency accounts and local transportation of foreign exchange through greater clarity to the legal system
  • The National Price Monitoring Committee (NPMC) has reported that a recent spike in the prices of perishable goods was primarily due to seasonal variations, the impact of which is now subsiding
  • At a time when the government is busy in preparing a tax amnesty scheme, the Federal Board of Revenue (FBR) has picked as many as 14,154 cases of income tax, sales tax and federal excise duty (FED) for audit through an electronic balloting

Following are few BUY recommendations:

Attock Cement Ltd. (ACPL) – BUY 
Current Price: PKR 8 9.89
Target Price: PKR 140.6

Askari Bank (AKBL) – BUY 
Current Price: PKR 19.65
Target Price: PKR 28.4

Attock Petroleum (APL) – BUY 
Current Price: PKR 389.02
Target Price: PKR 479.57

Amreli Steels Limited (ASTL) – BUY 
Current Price: PKR 36.27
Target Price: PKR 80.0

Bank Al-Habib (BAHL) – BUY 
Current Price: PKR 83.15
Target Price: PKR  97.64

Bank Al-Falah (BAFL) – BUY 
Current Price: PKR 4 4.87
Target Price: PKR  60.1

Bank of Punjab (BOP) – BUY 
Current Price: PKR 12.93
Target Price: PKR 18.3

Cherat Cement Co Limited (CHCC) – BUY 
Current Price: PKR 58.82
Target Price: PKR 71.00

D.G. Khan Cement Co. (DGKC) – BUY 
Current Price: PKR 83.03
Target Price: PKR 105.00

Engro Fertilizer (EFERT) – BUY 
Current Price: PKR 71.08
Target Price: PKR 91.0

Engro Foods (EFOODS) – BUY 
Current Price: PKR 64.81
Target Price: PKR 80.87

Engro Polymer & Chemical (EPCL) – BUY 
Current Price: PKR 33.16
Target Price: PKR 46.3

Fauji Fertilizer Bin Qasim (FFBL) – BUY 
Current Price: PKR 32.93
Target Price: PKR 43.5

Gharibwal Cement Ltd (GWLC) – BUY 
Current Price: PKR 13.00
Target Price: PKR 25

Hascol Petroleum (HASCOL) – BUY 
Current Price: PKR 113.05
Target Price: PKR 234.57

Habib Bank Limited (HBL) – BUY 
Current Price: PKR 124.65
Target Price: PKR 143.25

HUB Power Co. (HUBCO) – BUY 
Current Price: PKR 72.91
Target Price: PKR 136.9

Indus Motors (INDU) – BUY 
Current Price: PKR 1,281.20
Target Price: PKR 1,426.6

Kot Addu Power Co. (KAPCO) – BUY 
Current Price: PKR 42.09
Target Price: PKR 61.4

Kohat Cement Company (KOHC) – BUY 
Current Price: PKR 84.84
Target Price: PKR 111

Lotte Chemical Pak Ltd. (LOTCHEM) – BUY 
Current Price: PKR 14.07
Target Price: PKR 25.3

Lucky Cement (LUCK) – BUY 
Current Price: PKR 418.15
Target Price: PKR 605.8

Mari Petroleum Ltd. (MARI) – BUY 
Current Price: PKR   1 ,204.71
Target Price: PKR 1,983.6

Muslim Commercial Bank (MCB) – BUY 
Current Price: PKR   191.39
Target Price: PKR 224

Maple Leaf Cement (MLCF) – BUY 
Current Price: PKR 36.05
Target Price: PKR 56.6

Millat Tractors Limited (MTL) – BUY 
Current Price: PKR 879.88
Target Price: PKR 1,017

National Bank of Pakistan (NBP) – BUY 
Current Price: PKR 39.15
Target Price: PKR 66.51

Nishat Chunian Limited (NCL) – BUY 
Current Price: PKR 49.74
Target Price: PKR 55.00

Nishat Chunian Power Limited (NCPL) – BUY 
Current Price: PKR 20.00
Target Price: PKR 27.8

Nishat Mills (NML) – BUY 
Current Price: PKR 128.65
Target Price: PKR 158.00

Nishat Power Limited (NPL) – BUY 
Current Price: PKR 25.00
Target Price: PKR 32.5

Oil & Gas Development Co. (OGDC) – BUY 
Current Price: PKR 147.77
Target Price: PKR 190

Pak Elecktron Ltd (PAEL) – BUY 
Current Price: PKR 22.23
Target Price: PKR 28.20

Pioneer Cement Limited (PIOC) – BUY 
Current Price: PKR 34.70
Target Price: PKR 46.0

Pakistan Oilfields (POL) – BUY 
Current Price: PKR 452.92
Target Price: PKR 593.0

Pakistan Petroleum (PPL) – BUY 
Current Price: PKR 180.05
Target Price: PKR 208

Pakistan State Oil (PSO) – BUY 
Current Price: PKR 203.53
Target Price: PKR 298.00

Sui Northern Gas Pipeline (SNGP) – BUY 
Current Price: PKR 70.93
Target Price: PKR 96.2

United Bank Limited (UBL) – BUY 
Current Price: PKR 132.72
Target Price: PKR 154.60

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

Companies Result March 31, 2019

Highnoon Laboratories (HINOON)
Profit/Loss(million): 175.933
EPS(Quarter): 6.15
EPS(Overall): 25.37
Bonus/Dividend: 130% , 10% B

East West Insurance (EWIC)
Profit/Loss(million): -7.622
EPS(Quarter): -0.10
EPS(Overall): 1.74
Bonus/Dividend: NIL

Avanceon Limited (AVN)
Profit/Loss(million): 223.570
EPS(Quarter): 1.64
EPS(Overall): 4.24
Bonus/Dividend: 40% B

Jubilee Life Insurance Limited (JLICL)
Profit/Loss(million): 395.053
EPS(Quarter): 4.98
EPS(Overall): 30.64
Bonus/Dividend: 145%

Saif Power Limited (SPWL)
Profit/Loss(million): 715.519
EPS(Quarter): 1.85
EPS(Overall): 7.84
Bonus/Dividend: 13%

Asia Insurance Corpoaration (ASIC)
Profit/Loss(million): -16.291
EPS(Quarter): -0.27
EPS(Overall): 0.34
Bonus/Dividend: NIL

ZIL Limited (ZIL)
Profit/Loss(million): 18.905
EPS(Quarter): 3.09
EPS(Overall): 4.57
Bonus/Dividend: 15%

Habib Insurance (HICL)
Profit/Loss(million): 18.580
EPS(Quarter): 0.15
EPS(Overall): 0.85
Bonus/Dividend: 15%

Security Inv. Bank (SIBL)
Profit/Loss(million): -1.543
EPS(Quarter): -0.03
EPS(Overall): 0.33
Bonus/Dividend: NIL

Reliance Insurance (RICL)
Profit/Loss(million): -16.279
EPS(Quarter): -0.29
EPS(Overall): 0.87
Bonus/Dividend: NIL

Pak Suzuki Motor Company Limited (PSMC)
Profit/Loss(million): -94.644
EPS(Quarter): -1.15
EPS(Overall): 15.77
Bonus/Dividend: 31.60%

Efu Life Assurance (EFUL)
Profit/Loss(million): 585.924
EPS(Quarter): 5.86
EPS(Overall): 15.82
Bonus/Dividend: 112.50%

Lalpir Power Limited (LPL)
Profit/Loss(million): 68.3712
EPS(Quarter): 0.18
EPS(Overall): 1.97
Bonus/Dividend: 10%

Pakgen Power Limited (PKGP)
Profit/Loss(million): 558.122
EPS(Quarter): 1.50
EPS(Overall): 3.99
Bonus/Dividend: 15%

EFU General Insurance (EFUG)
Profit/Loss(million): 455.982
EPS(Quarter): 2.28
EPS(Overall): 10.86
Bonus/Dividend: 62.50%

Jahanger Siddiqui & Co (JSCL)
Profit/Loss(million): -174.029
EPS(Quarter): -0.19
EPS(Overall): 0.23
Bonus/Dividend: NIL

Pakistan Gum & Chemical (PGCL)
Profit/Loss(million): 18.691
EPS(Quarter): 4.40
EPS(Overall): 4.41
Bonus/Dividend: 10%

Pak Oxygen Limited (PAKOXY)
Profit/Loss(million): 101.905
EPS(Quarter): 4.07
EPS(Overall): 15.92
Bonus/Dividend: 20% , 30% B

Glaxo Healthcare Pakistan (GSKCH)
Profit/Loss(million): 486.945
EPS(Quarter): 4.16
EPS(Overall): 9.18
Bonus/Dividend: 50%