KARACHI STOCK MARKET NEWS

9,251

karachistockmarket — Thu, 19 Nov 2009 21:01:19 +0000

Market Low : 9,144.76 High : 9,284.47

Market Close : 9,251.19 — 106.43 points up

9,204

karachistockmarket — Tue, 17 Nov 2009 20:44:46 +0000

Market Low : 9, 184.75 High : 9,362.12

Market Close : 9,204.98 – 99.03 points down

9,304

karachistockmarket — Mon, 16 Nov 2009 20:38:03 +0000

Market Low : 9,067.17 High : 9318.32

Market Close : 9,304.31 — 237.14 points up

8,924

karachistockmarket — Thu, 12 Nov 2009 21:27:06 +0000

News : D.G. Khan Cement Ltd., Pakistan’s second-biggest producer, plans to invest 30 billion rupees ($360 million) to build a factory at home and in Sri Lanka, aiming to double capacity and tap demand in South Asia and East Africa. The company plans to invest as much as 10 billion rupees to build a 2 million ton plant in Sri Lanka in partnership with the government, Chief Executive Officer Mian Raza Mansha said in an interview in Lahore today. Another 20 billion rupees will be spent to build a 3 million ton factory at Hub near Karachi to increase sales to East African nations, he said…The company plans to raise 1 billion rupees through a rights share issue in the next quarter, Mansha said… Bloomberg

Market Low : 8,868.04 High : 8,991.99

Market Close : 8,924.24– 8.06 points up

9,112

karachistockmarket — Thu, 05 Nov 2009 21:09:52 +0000

9,154

karachistockmarket — Wed, 04 Nov 2009 21:08:42 +0000

Market Low : High : 8,979.50

Market Close : 9,154.99 –216 points up

8,938

karachistockmarket — Tue, 03 Nov 2009 20:52:46 +0000

Dividends : National Bank of Pakistan (NBP) earned profit after tax of Rs10.1 billion in first nine months of current calendar year against Rs 12 billion in the same months of last year.The net profit of the bank translated into earnings per share of Rs 9.34 during the months under review against Rs 11.80 in the corresponding period of last year……..Pakistan Petroleum Limited (PPL) reported Rs 4.974 billion net profit in first quarter of the current fiscal against Rs 7.766 billion in the same quarter of last year…. earnings per share of the company declined to Rs 5 over Rs 7.70 in the previous year…Daily Times

Market Low : 8,848.32 High : 8,979.50

Market Close : 8,938.99 — 66.59 points up

8,835

karachistockmarket — Mon, 02 Nov 2009 20:42:09 +0000

Market Low : 8,835.06 High : 9,182.40

Market Close : 8,872.40 — 286.78 points down

9,159

karachistockmarket — Fri, 30 Oct 2009 21:06:29 +0000

Dividends : Lucky Cement earned Rs 1.103 billion profit after tax in first quarter of current financial year against Rs 963 million in the same quarter of last year, showing 14 percent growth….the company’s earnings per share increased from Rs 2.98 per share to Rs 3.41 per share in the quarter under review.During July-September, gross sales jumped to Rs 7.038 billion over Rs 6.860 billion in the corresponding period of previous year… Daily Times

Pakistan Telecommunication Company Limited (PTCL) posted a Rs 2.563 billion net profit in July-September of current fiscal against Rs 3.178 billion in the same period of last year, showing 24 percent decline. …Total revenue dropped to Rs 14.472 billion in first quarter of current fiscal against Rs 16.610 billion in the same period of last year. Company’s earnings per share also decreased to Rs.0.50 against Rs.0.62 per share in the last year … Daily Times

Market Low : 9,142.96 High : 9,256.94

Market Close : 9,159.18 — 9.82 points down

9,169

karachistockmarket — Fri, 30 Oct 2009 00:46:02 +0000

News : Engro Chemicals (Engro), Pakistan’s second largest urea manufacturer, said on Thursday in a letter to the Karachi Stock Exchange (KSE) that it planned to enter the rice processing and export business. It proposed setting up a rice processing plant in the province of Punjab which was expected to come online by the fourth quarter of 2010. "The plant is expected to cost 3.2 billion rupees with an equity injection required of 1.6 billion rupees," Engro said… Aaj News

Dividends : The Oil & Gas Development Company (OGDC) has announced a profit after tax of Rs12.06 billion for the first quarter ended September 30th. This is over 36 per cent lower than the Rs18.97 billion net earnings recorded in the same quarter in 2008. The board of directors approved first interim cash dividend at Re1 per share for fiscal year 2010. Total earnings for the quarter under review translated into earning per share of Rs2.81 against Rs4.41 in the corresponding quarter of FY09. The significant decline of 36 per cent in net earnings was apparently due to a notable 23 per cent fall in net revenues to Rs31.82 billion against Rs41.38 billion in the same quarter last year…The News

Market Low : 9,072.76 High : 9,277.53

Market Close : 9,169 — 82.84 points down

9,251

karachistockmarket — Wed, 28 Oct 2009 20:33:39 +0000

Dividends : Engro Chemicals Pakistan posted Rs 2.599 billion net profit in the nine months ended September 30, 2009 as compared with net profit of Rs 3.359 billion for the same period of last year…Daily Times

The Hub Power Company (HUBCO) earned Rs 1.108 billion profit during the first quarter of current financial year against Rs 702 million in the same period of last year, depicting 57 percent growth… the earnings per share also improved by Rs 0.96 during the period under review against Rs 0.61 in the corresponding period of last year. The increase in profit is mainly because of currency devaluation and higher tariff profile… Daily Times

DG Khan Cement has announced that it has made a profit of Rs585 million in the first quarter (July-Sept) of fiscal year 2010. Earning per share (EPS) was Rs1.92. Last year, the company incurred a loss of Rs169 million in the first quarter of last year with loss per share of Rs0.67… Source : The News

Market Low : 9,238.26 High : 9,364.50

Market Close : 9,251.84 — 63.85 points down

9,315

karachistockmarket — Tue, 27 Oct 2009 21:56:50 +0000

Dividends : ICI Pakistan has posted a profit after tax of Rs1.58 billion for nine months ended September 30. This is 16.65 per cent higher than Rs1.35 billion net earnings the company booked in the same period last year.Accordingly, total earnings translate into earning per share of Rs11.40 against Rs9.78 for Jan-Sept 2008.The company managed to attain higher profits despite a slight three per cent decline in its revenues, which stood at Rs23.79 billion for the period under review against Rs24.50 billion in the corresponding period of 2008… The News

Market Low : 9,307.30 High : 9,476.71

Market Close : 9,315.69 — 58.81 points down

9,374 - some recovery

karachistockmarket — Mon, 26 Oct 2009 21:16:05 +0000

After a week of being buggered sideways (an intra -week loss of a 1000 odd points - 7%) , the KSE-100 index opened on a strong note, making a high of 9,415 and closed up at 9,374. While some investors are still full of Vaseline, the index could crawl back to 9,600.

Dividends : The profit after tax (unconsolidated) of Habib Bank Limited (HBL) increased to Rs 4.018 billion in the first quarter (July-September) of FY10 as compared to Rs 3.259 billion earned in the corresponding quarter in FY09….the bank’s earning per share (basic and diluted) increased to Rs 4.41 in the period under review against Rs 3.58 recorded in the same period of last year…Aaj News

Unilever Pakistan Limited has announced net earning of Rs2.29 billion for the nine months ended Sept 30, that is over 16 per cent higher than Rs1.97 billion profits the company booked in the corresponding period of 2008…. earnings per share is calculated at Rs172.43 as compared to Rs148.17 for Jan-Sept 2008. Net sales of the company were recorded at Rs28.50 billion in the period under review against Rs23.28 billion in 2008…The News

Nishat Mills Ltd (NML) has booked a pure profit of Rs513.20 million for the first quarter of fiscal year 2010 ended Sept 30th. This is, however, 27% lower than Rs706.55 million the company attained in the same quarter last year….Earning per share (EPS) was Rs2.12 against Rs4.36 in same quarter last year… The News

Market Low : 9,150.85 High : 9,415.61

Market Close : 9,374.50 — 223.65 points up

9,150

karachistockmarket — Sun, 25 Oct 2009 21:30:23 +0000

Dividends : MCB Bank Limited has posted Rs 11.8 billion profit in the first nine months of current calendar year against Rs 11.6 billion in the same months of last year. The Board of Directors of MCB Bank Limited approved the financial results for the nine months period ended September 30th, 2009 on Friday and announced Rs 2.5 per share cash dividend for the period under review.The net profit translated into Rs 17.08 earnings per share during the said period against Rs 16.82 in the previous. Bank’s profit before tax closed at Rs 17.6 billion registering a significant growth of 8 percent over the reported profit before tax of corresponding period last year….

Pakistan State Oil: Pakistan State Oil (PSO) earned Rs 1.905 billion net profit in the first quarter of current fiscal against loss of Rs 8.383 billion in the same quarter of last year.
….earnings per share also improved to Rs 11.11 against the loss per share of 48.88 in the last year. Profit before tax came to Rs 2.727 billion against Rs 12.603 billion in the previous year. Company also announced a cash dividend for the financial year ended June 30, 2009 at the rate of Rs 3 per share….

Pakistan Oilfields Limited: Pakistan Oilfields Limited (POL) has posted Rs 1.425 billion profit in the first three months of current fiscal against Rs 2.260 billion profits in the same months of last year…. earnings per share dropped to Rs 6.03 in the first quarter of current fiscal from Rs 9.56 in the previous year. The total sales also came down to Rs 3.402 billion in the period under review against Rs 5.158 billion in the last year….Daily Times

Market Low : 9,125.15 High : 9,251.40

Market Close : 9,150.85 — 3.15 points down

Board Meetings for October 2009 - II

karachistockmarket — Fri, 23 Oct 2009 11:11:58 +0000

Jahangir Siddiqui & Co. Ltd (JSCL) : 24th

Habib Bank Ltd (HBL)

Allied Bank Ltd. (ABL)

Arif Habib Bank Ltd. (AHBL)

Packages Ltd. (PKGS) : 26th

Fauji Fertilizer Co. Ltd (FFC)

Kot Addu Power Co. (KAPCO) :

Nishat Mills (NML)

United Bank Ltd (UBL)

ICI Pakistan Ltd : (ICI) 27th

Engro Chemical Ltd. (ENGRO) : 28th

D.G. Khan Cement (DGKC)

HUBCO :

OGDC : 29th

PTCL : 30th

Lucky Cement (LUCK) :

Adamjee Insurance Co. Ltd (AICL)

Pakistan Reinsurance Co. Ltd : (PAKRI)

Azgard Nine (ANL) :

Pakistan Petroleum Ltd. (PPL) : 31st

Nationa Bank of Pakistan Ltd. (NBP)

9,154

karachistockmarket — Thu, 22 Oct 2009 21:56:48 +0000

News : Banks’ and DFIs’ profits are likely to witness a significant increase of some 10-12 percent in 2009 with the State Bank’s move to allow them to avail 40 percent benefit of Forced Sale Value (FSV) of collateral for calculating provisioning requirement,…"SBP’s moves would put positive impact on the banking industry, which is already facing severe problems including slow deposit growth and rising NPLs," said a banker. At a time when banks’ profits are facing pressure from rising NPLs, the availability of 40 percent FSV benefit would help improve to improve earnings, he added… Aaj News

Market Low : 8,971.22 High : 9,349.35

Market Close : 9,154 — 93.79 points down

9,247 - another bashing

karachistockmarket — Wed, 21 Oct 2009 21:37:25 +0000

The KSE - 100 index got reamed again and closed down at 9,247, 321 poinrs down. A proper correction is taking place after some time and one could see 9,100 by the end of the week. Oil crossed $ 80 today.

Market Low : 9,232.10 High : 9,569.07

Market Close : 9,247.78 — 321.29 points down !!

9,569

karachistockmarket — Tue, 20 Oct 2009 12:54:19 +0000

The Karachi Stock market rebounded today after being the world’s worst performer yesterday, and closed up at 9,569.

Market Low : 9,371.96 High : 9,645.92

Market Close : 9,569.06 — 157.77 points up

Results / Dividends for October 2009

karachistockmarket — Tue, 20 Oct 2009 00:05:24 +0000

Shell Pakistan Ltd. (SHEL) : EPS : 24.88

Arif Habib Securities (AHSL) : EPS : 5.37

Arif Habib Ltd. (AHL) : EPS : 3.26

Attock Petroleum Ltd. (APL): EPS : 12.74

National Refinery Ltd (NRL): EPS : 8.47

Attock Cement (ACPL) : EPS : 3.27

Fauji Fertilizer Bin Qasim (FFBL) : 12.5% Cash - EPS : 1.40

Pakistan Refinery Ltd. (PRL) : EPS : -19.20

Pakistan Oilfields Ltd. (POL) : EPS : 6.03

Attock Refinery Ltd. (ATRL) : EPS : -4.65

Pakistan State Oil (PSO) : 30% CASH - EPS : 11.11

MCB Bank Ltd. (MCB): 25% Cash - EPS : 17.08

Jahangir Siddiqui & Co. Ltd (JSCL) : 10% Cash - EPS :1.17

United Bank Ltd : EPS : 1.87

Nishat Mills : EPS : 2.97

Habib Bank Ltd (HBL): EPS : 4.25

Allied Bank Ltd. (ABL) : EPS : 2.78

Packages Ltd. (PKGS) : EPS : - 1.37

Fauji Fertilizer Co. Ltd (FFC) : 30% Cash - EPS : 3.08

Nestle Pakistan Ltd (NESTLE) : 100% Cash - EPS : 16.81

Kot Addu Power Co. (KAPCO) : EPS : 1.52

ICI Pakistan Ltd (ICI) : EPS : 11.40

Engro Chemical Ltd. (ENGRO) : 20% Cash - EPS : 9.44

OGDC : 10% Cash - EPS : 2.81

Lucky Cement : EPS : 3.41

Adamjee Insurance : EPS : 20.53

Pakistan Petroleum Ltd. (PPL) :

9,411

karachistockmarket — Mon, 19 Oct 2009 21:34:46 +0000

The KSE-100 index got severely gang-banged today with panic selling dropping the index to an intra-day low of 9,384. The market closed 4.34% down, losing 426 points. A correction had been long overdue and the market could slide further down to 9,100.

Dividends : Arif Habib Securities has posted a profit after tax of Rs2.01 billion for the quarter ended September 30. With this, un-audited accounts of the company have turned into profits from a loss of Rs269.90 million in the same quarter last year.This translates into earning per share (EPS) of Rs5.37 for the quarter under review from loss per share (LPS) of Rs0.72 in the corresponding quarter in 2008.The profit came due to a notable surge in ‘gain on re-measurement of investment-net’ to Rs1.87 billion from Rs308.82 million. Moreover, a surge in operating profits to Rs2.19 billion for the quarter from Rs446.29 million in 2008 quarter also played equally an important role… Source : The News

Market Low : 9,384.10 High : 9,864.52

Market Close : 9,411.29 — 426.83 points down !!

9,838

karachistockmarket — Sun, 18 Oct 2009 21:36:36 +0000

News : The State Bank of Pakistan continues to deny the MCB Bank approval to its acquisition of the Royal Bank of Scotland Pakistan as sponsor shares have yet to be deposited in a blocked CDC account as required by the central bank. It had emerged last week that the central bank was unwilling to grant approval to the deal because MCB Bank’s sponsor shares had not been deposited in a Central Depository Company account, a requirement introduced by the SBP on May 22, 2008….MCB Bank had purchased almost all shares of RBS Pakistan in early August this year for $87 million or Rs 7.2 billion. MCB Bank acquired 1.707 billion (1,707,107,891) ordinary shares for a cash price of Rs 4.22 per share. As a result of the transaction, the total number of branches of combined MCB and the acquired bank will increase to 1,139. The total consolidated deposits will increase to Rs 413 billion and consolidated gross advances to Rs 324 billion…. Daily Times

Market Low : 9,811.98 High : 9,978.36

Market Close : 9,838.12 — 7.62 points down

9,845

karachistockmarket — Thu, 15 Oct 2009 21:32:26 +0000

Board Meetings for October 09 - updated

Market Low : 9,781.37 High : 9,936.36

Market Close : 9,845.73 — 41.12 points up

9,804

karachistockmarket — Wed, 14 Oct 2009 21:02:10 +0000

News: Pakistan Petroleum Limited (PPL) might forgo its plan of searching oil and gas reserves internationally following acquisition of new exploration licences at home, its Managing Director Khalid Rahman said.Stiff competition from foreign firms, low margins and financial constraints are some other reasons which have made Pakistan’s second largest gas producer rethink any immediate need of going abroad to bolster profit,…“We would like to go international but there is a lot to do in Pakistan now,” he said citing PPL’s acquisition of 14 domestic blocks in a recent round of bidding… The News

MOL, the Hungarian oil and gas firm has made a new discovery of gas and condensate at the Maramzai-1 well in the Tal Block in Pakistan, … The production of the well is 1.1 million cubic metres of gas per day and 228 cubic meters of condensate per day,…The production rates can improve further after acid stimulation of two limestone reservoirs in the well," MOL said…MOL, Hungary’s largest corporation by sales revenues, holds a 10 percent stake in the block. Other shareholders include Oil and Gas Development Co Ltd, Pakistan Petroleum Limited (PPL), Pakistan Oilfields Ltd and Government Holdings (Pvt) Ltd…. Aaj News

Market Low : 9,686.40 High : 9,867.03

Market Close : 9,804.61 — 118.21 points up

9,686

karachistockmarket — Mon, 12 Oct 2009 23:18:04 +0000

The National Investment Trust (NIT), the oldest and leading open-end mutual fund in the country, has reported a growth of 43.4 per cent in its net earnings to Rs2,071 million for the quarter ended September 30, 2009. The Trust had earned Rs1,444 million in the same quarter last year….The net income of Rs2,071 million translates into earnings per unit of Rs1.95 against Rs1.52 in the corresponding quarter last year. Likewise, net income of Rs429 million earned by NIT-LOC holders Fund translated into earnings per unit of Rs0.43 against Rs0.20 in the same quarter last year… The News

Market Low : 9,625.23 High : 9,726.76

Market Close : 9,686.40 — 43.84 points up

9,642

karachistockmarket — Mon, 12 Oct 2009 21:50:29 +0000

9,768

karachistockmarket — Sun, 11 Oct 2009 21:01:34 +0000

OCTOBER 9TH

Market Low : 9,728.80 High : 9,924.94

Market Close : 9,768.63 — 27.76 points up

9,740

karachistockmarket — Thu, 08 Oct 2009 21:41:24 +0000

Market Low : 9,705.58 High : 9,937.73

Market Close : 9,740.87 — 95.63 points down

9,836

karachistockmarket — Wed, 07 Oct 2009 20:55:59 +0000

News : British Petroleum and Production Inc has won bids for two new exploration blocks at Digri and Sanghar South in Sindh province. These blocks were awarded in a government licencing round held at the Directorate of General Petroleum concessions last month. Currently BP produces 15 percent of Pakistan ’s oil and 60 percent of its gas. To secure access to these bocks BP Pakistan has undertaken a work commitment of approximately $30 million over a period of three years...Daily Times

Nishat Power was formally listed at the Karachi Stock Exchange on Wednesday, marking the first listing of any company in the market this year. Nishat Group’s Chairman Mian Mohammad Mansha rang the gong at 9:30am, commencing the formal listing and trading of shares in Nishat Power at the KSE, said a press statement issued by the bourse... The News

Market Low : 9,643.11 High : 9,890.41

Market Close : 9,836.50 — 193.39 points up

9,643

karachistockmarket — Tue, 06 Oct 2009 21:23:17 +0000

News : The Board of Directors of Karachi Stock Exchange (KSE) has developed a new leverage product, called Margin Trading System (MTS), and has sent its concept paper to the apex regulator, the Securities & Exchange Commission of Pakistan (SECP), for approval…The Margin Trading System that is similar to CFS MK-II, will be run by KSE itself and financers in this system could be any one of financially sound companies or individuals. Financers may include Non-Banking Financial Companies (NBFCs), banks, mutual funds, brokers themselves, any financially sound individuals and et cetera.
The two major differences between formerly suspended CFS MK-II and newly developed Margin Trading System are that (1) in the newly proposed product to SECP, the borrower would pay 25 per cent of the total value of the shares purchased (called margin) and rest of 75 per cent financing would be provided to borrower through Margin Trading System. While in CFS MK-II, no margins were collected from the buyers, (2) In new system, the liquidity would be arranged first and then the shares would be purchased to pledge while in CFS MK-II shares were first purchased and then the financing was arranged for, a Director of KSE explained… The News

Market Low : 9,479.77 High : 9,672.89

Market Close : 9,643.11 — 155.16 points up

Board Meetings for October 2009

karachistockmarket — Mon, 05 Oct 2009 23:13:09 +0000

Shell Pakistan Ltd. (SHEL) : 15th

Arif Habib Securities (AHSL) : 16th - 4.30pm

Arif Habib Ltd. (AHL) : 19th - 4pm

Attock Petroleum Ltd. (APL)

National Refinery Ltd (NRL)

Attock Cement (ACPL)

Fauji Fertilizer Bin Qasim (FFBL) : 21st

Pakistan Refinery Ltd. (PRL) : 22nd

Pakistan Oilfields Ltd. (POL)

Attock Refinery Ltd. (ATRL)

Pakistan State Oil (PSO) : 23rd

MCB Bank Ltd. (MCB)