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MG Morning Breeze: Updates to Skim before Market

MG Morning Breeze: Updates to Skim before Market
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January 31, 2024 (MLN): Morning Breeze aims to lessen the load for its readers by curating noteworthy updates from the preceding day.

Owners representing 15.39% of the total shareholding of Pak Suzuki Motor Company Limited (PSMCL) collectively reject the delisting of the company and the purchase price of Rs609/- per share. Read more

The International Monetary Fund (IMF) has downgraded Pakistan’s real GDP growth projections for fiscal year 2024 to 2% down from the previous forecast of 2.5%. Read more

The currency in circulation within the economy till January 19, 2024 has decreased by Rs53.538bn WoW to Rs8.604 trillion. Read more

Riding the wave of positive news in the economic arena, the State Bank of Pakistan (SBP) is now banking on another $5 billion rollover from friendly countries. Despite an anticipated $10bn external outflow, the bank is left holding the bag with a net repayable amount of $5bn for the rest of FY24. Read more

The Pakistani rupee (PKR) appreciated by 9.32 paisa against the US dollar in Tuesday's interbank session as the currency settled the trade at PKR 279.55, as compared to the previous day's closing of PKR 279.64 per USD. Read more

The Pakistan Stock Exchange (PSX) experienced a challenging session, with the benchmark KSE-100 index concluding the trading day at 61,841.74, reflecting a drop of 931.98 points or 1.48%. Read more

Domestic bullion witnessed a positive session on Tuesday as the price of 24-karat gold increased by Rs700 per tola to reach Rs216,100. Read more

Al Shaheer Corporation Limited (PSX: ASC) has announced that its Karachi plant has commenced operations ahead of schedule. Read more

As part of the initial process of designing the new banknote series, the State Bank of Pakistan (SBP) is organizing an Art Competition to have innovative and thematic design ideas for the new banknote series. Read more

In continuation of its ongoing integration with the E-Phyto Hub, Pakistan Single Window (PSW) has commenced receiving electronic phytosanitary certificates (e-Phyto) on imports of agricultural goods and commodities. Read more

Fauji Fertilizer Bin Qasim Limited (PSX: FFBL) is all set to launch Boron Fortified DAP during CY24 which will prove to be a value-added excellence to the agriculture sector. Read more

International Industries Limited (PSX: INIL) experienced a massive surge in its earnings for 1HFY24, clocking in its profit after tax at Rs2.47 billion [EPS: Rs10.76]. Read more

The official reserve assets, including foreign currency reserves, IMF reserve position, Special Drawing Rights (SDRs), gold, and other reserve assets, stood at $13.67 billion as of December 31, 2023. Read more

Air Link Communication Limited (PSX: AIRLINK) reported a profit after tax of Rs2.04 billion [EPS: Rs5.17] for 1HFY24, marking a significant growth of 2.58x YoY, compared to a profit of Rs791.78m [EPS: Rs2.05] in the same period last year (SPLY). Read more

Pakistan has advanced by 7 positions in the Corruption Perceptions Index (CPI), moving from 140 in CPI 2022 to 133 in CPI 2023. Read more

Pakistan Aluminium Beverage Cans Limited (PSX: PABC) has achieved a significant milestone by surpassing its previous capacity of 950 million cans per annum. Read more

Colgate Palmolive (Pakistan) Limited (PSX: COLG) experienced a rise of 74.8% YoY in its profits for the 1HFY24, earning a profit after tax of Rs7.37 billion [EPS: Rs30.36]. Read more

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Posted on: 2024-01-31T07:50:06+05:00