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BPositive

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  1. Bold steps needed to check falling forex reserves Economy| Negative The country’s foreign exchange reserves are feared to further deteriorate if the policymakers failed to take ‘orthodox’ measures to plug up bleeding balance of payments, analysts warned on Thursday. An eminent economist said the reserves fell $5 billion since October last year The country’s total foreign liquid reserves fell to $19.941 billion during the last week from $20 billion a week earlier. Foreign exchange reserves of banks stood at $5.631 billion. Click here for more
  2. Hubco’s annual profit drops HUBC| Neutral Net income of Hub Power Company (HUBC) dropped 9.2 percent year-on-year to Rs11.348 billion for the year ended June 30, 2017, translating into earnings per share (EPS) of Rs9.24. Click here for more Hyundai plans long-range premium electric car in strategic shift Autos| Positive Hyundai Motor Co said on Thursday it was placing electric vehicles at the centre of its product strategy - one that includes plans for a premium long-distance electric car as it seeks to catch up to Tesla and other rivals. Click here for more Fixed sales tax on petroleum freight proposed Oil| Neutral Seeking an end to the never ending dispute on provincial sales tax mechanism and collection on transportation of petroleum products, Ashfaq Tola, President of Tola Associates has submitted a dispute resolution report to the Prime Minister''s office. Click here for more Readymade garments’ exports up by six percent Textile| Positive The country's export of readymade textile grew by six percent to $2.316 billion last fiscal year, official figures say. Increase in the garments export stands at $58.269 million last fiscal year compared to their export of $2.195 billion in fiscal year 2016 Click here for more Govt plans to strike LNG deals with South African producers LNG| Positive With ambitious plan to double the volume of LNG imports this year the government intends to ink multi billion dollars state to state gas supply contracts. Click here for more
  3. Aba Ali Habib Research 18 August 2017 Daily Closing: Benchmark index bears the brunt of political tension. Bourse on the backdrop of prevailing political uncertainty witnessed exasperating trading session on the last day of week. Index hit year low of 42,347.19 points marking an intra-day loss of 789 points and there after staged a recovery and added 51 points. However, later the day index closed with marginal plunge of 57 points at above 43K. DAWH, ENGRO, SEARL, HBL and DGKC were the top laggards in dragging the index cumulatively by 109.9 points. A total of 362 scrips changed hands where 145 advanced, 197 declined and 20 remained unchanged. Market witnessed improvement in volume with 188mn shares today, up by 11.9% compared to the volume of 167mn shares in the last trading session. Traded value turned out to be PKR 11.3bn, up by 27% DoD. ENGRO fell by PKR 6.81 to close at PKR 294.5/share on account of below than expected 2QCY17 results, where company posted loss per share of PKR 2.82. BATA, COG, ABOT, JLICL and SAPL emerged at top looser falling by PKR 155.0/115.0/40.0/39.9/37.2 in their respective share values. Volume leaders included ANL (18.15mn shares), ASL (14.25mn), TRG (13.03mn), BOP (7.76mn) and KEL (7.5mn). Among the sectors Engineering appeared as top traded sector with turnover of 24.0mn shares followed by Banks (23.6mn), Textile composite (21.73mn), Technology & communication (17.3mn) and Oil & Gas marketing companies (16.6mn). Weekly Closing: Waning economic indicators and prevailing political jitters ended the Index with year low of 42,347 points Post-independence KSE-100 index witnessed 3 bearish and 1 bullish session in outgoing week and marked its support resistance level of 42,347.19-45,419.52. Volatile political circumstance coupled with threat of currency devaluation and depleting foreign reserves added fuel in investor’s rising concerns and consequently dragged the index by 2,556 points to settle at 43,078 at the end of week. Average volume traded during the week was 184mn shares with average traded value of PKR 9.9bn. Important new of the week were 1) Fixed sales tax on petroleum freight proposed, 2) Foreign investment jumps by 162pc, 3) Coal-fired plant relocated to cut transportation cost, 4) Govt mulls surcharge to boost POL storage capacity and 5) The country’s service exports recorded a growth of 1.76 per cent year-on-year to $5.55 billion in 2016-17. In international market Oil headed for a third weekly fall as U.S. crude production rose to a two-year high and Chinese refining slowed, signs that the world’s two biggest consumers may stymie OPEC-led efforts to trim a global glut. Among market participants’ foreigners remained net seller during the week amounting to USD 2.04mn, primarily contributed by overseas Pakistani amounting to USD 1.20 mn. The activity of foreign corporates and individual were observed to be net selling of amounting USD 0.78mn and 0.06mn, respectively. Local investors remained net buyer amounting to USD 2.04mn, mainly contributed by Insurance (USD 9.39mn) and companies (USD 6.36mn). Whereas throughout the week mutual funds remained as net seller amounting of USD 23.59mn.
  4. Engro Corporation Limited (ENGRO) August 18th, 2017 FINANCIAL RESULT FOR THE HALF YEAR ENDED 30/06/2017 (UNCONSOLIDATED) PROFIT/LOSS BEFORE TAXATION RS. IN MILLION 7,194.297 (UNCONSOLIDATED) PROFIT/LOSS AFTER TAXATION RS. IN MILLION 4,105.029 (UNCONSOLIDATED) EPS = 7.84 (CONSOLIDATED) PROFIT/LOSS BEFORE TAXATION RS. IN MILLION 12,527.253 (CONSOLIDATED) PROFIT/LOSS AFTER TAXATION RS. IN MILLION 6,717.292 (CONSOLIDATED) EPS = 7.21 DIVIDEND = 70% BOOK CLOSURE FROM 15/09/2017 BOOK CLOSURE TO 22/09/2017
  5. Discull all about ENGRO - Engro Corporation Limited.
  6. Discuss all about AWWAL - Awwal Modaraba.
  7. Discuss all about EFUG - EFU General Insurance Limited.
  8. Discuss all about SINDM - Sindh Modaraba.
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