February 21, 2024 (MLN): Morning Breeze aims to lessen the load for its readers by curating noteworthy updates from the preceding day.
The benchmark KSE-100 index ended the day little changed at 60,464, erasing an earlier gain of 1.3%, as oil and gas companies continued to exert downward pressure on the market. Read more
The Pakistani rupee (PKR) depreciated by around 21 paisa against the US dollar in Tuesday's interbank session as the currency settled the trade at PKR 279.57 per USD. Read more
Automobile financing in Pakistan has dropped to Rs246.26 billion in January 2024, witnessing a decline of 25.82% YoY and 1.98% MoM compared to Rs331.98bn in January 2023 and Rs251.25bn in December 2023, respectively. Read more
In a landmark move towards advancing Pakistan's mineral-driven economy, the Pakistan Mineral Development Corporation (PMDC) and Miracle Saltworks Collective Inc. Read more
The Federal Board of Revenue (FBR) has collected revenue of Rs5.15 trillion from July 2023 to mid-February 2024 against Rs3.97tr over the same period last fiscal year, which is almost 30% tax revenue growth. Read more
The Pakistan Stock Exchange (PSX) conducted an auction today for the sale of Government of Pakistan Ijara Sukuk (GIS) bonds, raising Rs45.6 billion against the Rs150bn target set for GIS Variable Rental Rate (VRR) and GIS Fixed Rental Rate (FRR) and GIS FRD. Read more
Engro Fertilizers Limited (PSX: EFERT) has urged the government to completely remove all subsidies from the fertilizer sector to fix the problem at the source and break away from the vicious cycle of debt. Read more
Engro Fertilizers, Pakistan’s premier seed-to-harvest solutions provider, achieved a record urea production of 2.3 million tons in 2023 to support the government’s efforts of ensuring affordable and abundant supplies for the farmers. Read more
Barclays has retained its overweight rating on Pakistan and suggests buying on weakness as the new government is unlikely to opt to default on its Eurobonds, as Bloomberg reported. Read more
Engro Polymer and Chemicals Limited (PSX: EPCL) experienced a fall of 21.57% YoY in its earnings for 2023, wherein the profit after tax clocked in at Rs8.93 billion [EPS: Rs9.12], compared to a profit of Rs11.39bn [EPS: Rs12.37] in the same period last year (SPLY). Read more
Interloop Limited (PSX: ILP) made a significant turnaround in the second quarter of fiscal year 2024, earning a profit after tax of Rs3.81 billion [EPS: Rs2.72]. Read more
JS Global Capital Limited, acting as manager to the offer for Asif Ali Shaikh, has submitted a public announcement of intention to acquire approximately 9,020,473 ordinary shares of Calcorp Limited (PSX: CASH), representing 83.96% of the total issued and paid-up capital of the Target Company. Read more
The Bank of Punjab (PSX: BOP) announced its results for 2023, wherein the bank’s profit after tax rose 5.49% YoY to Rs11.25 billion [EPS: Rs3.39]. Read more
The price of 24-karat gold increased by Rs150 per tola to Rs214,450 per tola on Tuesday. Read more
Fauji Fertilizer Bin Qasim Limited (PSX: FFBL) has increased the market retail price of Urea to Rs5,000 per bag. Read more
The overall pharmaceutical sector surged around 7%, with all companies in the KSE-100 index hitting their upper circuit in today's intraday session after the government relaxed drug pricing policy. Read more
Pakistan’s Power Sector witnessed the highest net outflow through FDI worth $242.58 million in January 2024, followed by Telecommunications with divestment of $15.16m. Read more
Total inflows into Roshan Digital Accounts (RDA) during January 2024 stood at $142 million, bringing the total cumulative inflows into RDA to $7.337 billion. Read more
The Federal Government has allowed pharmaceutical companies to sell medicines that are not included in the National List of Essential Medicines (NEML) at prices fixed by themselves. Read more
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Posted on: 2024-02-21T08:09:19+05:00
