August 7, 2020: Minister for Planning, Development and Special Initiatives Asad Umar has said that the country will see the highest ever growth in the renewable energy.
In a tweet, the minister said the Council of Common Interest approved the alternative and renewable energy policy of the government which will unleash the full renewable potential of Pakistan.
Radio Pakistan
36178
September 25, 2020 (MLN): The capital markets opened modestly higher, finding some support from yesterday’s session. However, the KSE-100 index staged a U-turn in the second half of Friday and closed in the red zone due to last day of rollover week.
The Benchmark KSE-100 Index lost nearly 105 points or 0.25 percent decline to settle at 41,701-level in a topsy-turvy session.
According to closing note by Arif Habib Limited, Cement sector stocks sustained selling pressure due to apprehensions on Competition Commission’s raid on APCMA.
The trading activity was knocked by the recent Debt data releases by SBP, wherein domestic debt amounted to Rs. 23.39 trillion in July’20, up by 6% YoY.
Another important highlight of the day was the announcement by Maple Leaf Cement which has established Letter of Credit (LC) to expand its existing Waste Heat Recovery Plant to 25 MW with a projected outlay of Rs 1.8 billion.
During the session, Ismail Industries and Sapphire Textile Mills (SAPT) announced their financial results wherein Ismail Industries suffered a 33% decline in profits to stand at Rs. 423.7 million in FY20. While the latter witnessed a 56% YoY increase in net profits for FY20 to Rs 7.86 billion compared to the profits of Rs 5 billion reported in FY19.
The Index traded in a range of 496.56 points or 1.19 percent of previous close, showing an intraday high of 42,098.94 and a low of 41,602.38.
Of the 96 traded companies in the KSE100 Index 39 closed up 57 closed down, while 0 remained unchanged. Total volume traded for the index was 314.27 million shares.
Sector wise, the index was let down by Cement with 85 points, Technology & Communication with 21 points, Insurance with 17 points, Automobile Assembler with 16 points and Oil & Gas Exploration Companies with 15 points.
The most points taken off the index was by LUCK which stripped the index of 39 points followed by UBL with 22 points, TRG with 22 points, DGKC with 16 points and MUREB with 14 points.
Sectors propping up the index were Power Generation & Distribution with 16 points, Oil & Gas Marketing Companies with 15 points, Refinery with 12 points, Chemical with 10 points and Fertilizer with 9 points.
The most points added to the index was by HBL which contributed 30 points followed by COLG with 21 points, BYCO with 12 points, HASCOL with 11 points and KAPCO with 11 points.
All Share Volume increased by 0.13 Million to 435.02 Million Shares. Market Cap increased by Rs.10.23 Billion.
Total companies traded were 411 compared to 423 from the previous session. Of the scrips traded 161 closed up, 232 closed down while 18 remained unchanged.
Total trades decreased by 5,743 to 123,847.
Value Traded increased by 0.31 Billion to Rs.15.42 Billion
| Company | Volume |
|---|---|
| Hascol Petroleum | 57,515,000 |
| Unity Foods | 47,495,500 |
| Byco Petroleum Pakistan | 28,432,000 |
| Pakistan International Bulk Terminal | 21,242,500 |
| TRG Pakistan | 20,798,000 |
| Askari Bank | 19,283,500 |
| K-Electric | 17,541,500 |
| Aisha Steel Convertible (Pref) | 16,767,500 |
| Pakistan Refinery | 11,914,500 |
| Kot Addu Power Company | 11,362,500 |
| Sector | Volume |
|---|---|
| Oil & Gas Marketing Companies | 64,248,309 |
| Vanaspati & Allied Industries | 47,500,200 |
| Refinery | 43,679,500 |
| Technology & Communication | 39,396,300 |
| Cement | 35,938,924 |
| Commercial Banks | 35,706,631 |
| Power Generation & Distribution | 31,616,239 |
| Engineering | 30,074,200 |
| Transport | 22,073,600 |
| Food & Personal Care Products | 13,428,420 |
Copyright Mettis Link News
September 25, 2020 (MLN): National Refinery Limited (NRL) has successfully commissioned the two-stage distillation unit revamp of its Lube-I Refinery.
This would enhance the installed crude oil processing capacity of Lube-I Refinery from the current 12,050 Barrel per stream day (bpsd) to 17,000 bpsd and vaccum fractionation capacity from 5,200 bpsd to 6,600 bpsd, company’s notice to Exchange revealed.
Copyright Mettis Link News
September 25, 2020 (MLN): The price of 24 karat gold decreased by Rs. 700 on Friday to Rs. 111,800, against the price Rs. 112,500 reported on Wednesday.
According to the data released by the All Sindh Saraf Jewellers Association, the price of 10-gram gold also decreased by Rs. 601 to Rs. 95,850 against the price of Rs. 96,541 reported yesterday.
The price of per tola silver of 24 Karat and 10-gram silver remained static Rs. 1,150 and Rs.985.94, respectively.
The gold prices in the international market increased by US $2 and traded at US $1,859, the association reported.
Copyright Mettis Link News
September 25, 2020 (MLN): Maple Leaf Cement Factory Limited (MLCF) will expand its existing Waste Heat Recovery Plant to 25 MW with a projected outlay of Rs 1.8 billion.
According to the notice issued to Exchange, the new plant is expected to come online in September’21 and will take up the company’s existing WHR capacity by 56% or 9MW from its current capacity of 16MW.
As per research by Topline, the electricity requirement of the company is over 65MW. The majority is filled through coal power, followed by WHR and remaining by grid/Furnace Oil (FO) whichever is cheaper.
Copyright Mettis Link News
September 25, 2020 (MLN): Habib Bank Limited (HBL) has received approval from State Bank of Pakistan (SBP) on its proposal for undertaking an equity injection of Rs 500 million in its wholly owned subsidiary namely HBL Asset Management Limited.
The aforesaid information was disseminated by the Bank via notification to PSX.
Copyright Mettis Link News
