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MG Morning Breeze: Updates to Skim before Market

MG Morning Breeze: Updates to Skim before Market
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February 22, 2024 (MLN): Morning Breeze aims to lessen the load for its readers by curating noteworthy updates from the preceding day.

The State Bank of Pakistan (SBP) conducted an auction on Wednesday in which it sold Market Treasury Bills (MTBs) worth Rs361 billion for 3,6 and 12 months against a target of Rs300bn. Read more

The Central Bank on Wednesday sold Pakistan Investment Bond – Floating Rate (PIB-PFL) semiannual and quarterly worth Rs6.35 billion for 2, 3, 5 and 10 years against a target of Rs100bn. Read more


The benchmark KSE-100 index closed Wednesday's trading session at 61,559.16 showing an increase of 1,094.91 points or 1.81%. Read more

The power sector is in a dire situation as industrial power tariffs have reached around 17 cents/kWh, more than double the regional average, and gas prices have increased more than three-fold since January 2023. Read more

The Pakistani rupee (PKR) appreciated by 6.64 paisa against the US dollar in Wednesday's interbank session as the currency settled the trade at PKR 279.5 per USD, compared to the previous session's closing of PKR 279.57 per USD. Read more

Bestway Cement Limited (PSX: BWCL) earnings in 2023 clocked in at Rs6.78 billion [EPS: Rs11.38], down by 15.99% YoY. Read more

Ittehad Chemical Limited (PSX: ICL) earned a profit after tax of Rs207.74 million [EPS: Rs2.08] in the second quarter of fiscal year 2024. Read more

Service Global Footwear Limited (PSX: SGF) reported its profit and loss statement for the year 2023, wherein the profit after tax clocked in at Rs1.17 billion [EPS: Rs5.7]. Read more

The price of 24-karat gold rose Rs750 per tola to Rs215,200 per tola on Wednesday. Read more

The Board of Directors (BoD) of Service Global Footwear Limited (PSX: SGF) has recommended the renewal of investment of up to Rs4.5 billion in the form of a working capital loan to Service Industries Limited. Read more

 Askari Bank Limited (PSX: AKBL) has reported a profit of Rs21.54 billion [EPS: Rs14.83] in 2023. Read more

United Bank Limited (PSX: UBL) recorded its highest profit worth Rs56.47 billion [EPS: Rs45.05] in 2023. Read more

The Board of Directors of UBL has approved an investment of Rs1 billion in its wholly-owned subsidiary UBL Currency Exchange (Private) Limited (UBLCEPL). Read more

Lotte Chemical Pakistan Limited (PSX: LOTCHEM) reported a net income of Rs5.08 billion [EPS: Rs3.35] in 2023, a 49.8% decrease from Rs10.12bn [EPS: Rs6.68] in the previous year. Read more

The Ministry of National Health Services, Regulations & Coordination has categorically denied the fabricated reports that the use of vitamins, multi-vitamins, minerals, and health & over the counter products has been banned in the country. Read more

The currency in circulation within the economy till February 09, 2024, has increased by Rs175.83bn WoW to Rs8.7tr, according to provisional accounts on Monetary Aggregates for the week. Read more

The government of Pakistan has acquired an additional debt of Rs150.43bn WoW during the week ended February 09, 2024, which brings its total net borrowing for ongoing fiscal year 2024 to Rs2.75tr. Read more

The National Electric Power Regulatory Authority (NEPRA) on Tuesday approved the reference gas price of $ 5.6127/MMBTU for the sale of gas by Petroleum Exploration (Pvt) Limited (PEL) to Engro Powergen Qadirpur Limited (EPQL) from Badar-I. Read more

The Competition Commission of Pakistan (CCP) has approved a merger that will see a Korean company investing in Pakistan's hydropower sector. Read more

Maple Leaf Cement Factory Limited (PSX: MLCF) revealed its earnings for the second quarter of fiscal year 2024, wherein the profit after tax clocked in at Rs2.24 billion [EPS: Rs2.09]. Read more

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Posted on: 2024-02-22T06:00:00+05:00