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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 26, 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 surged 2,943 points or 4.92% to close the week at 62,816. Read more

The net purchase of securities for the week ended February 16, 2024, clocked in at Rs1.49bn, as compared to a net purchase worth Rs1.47bn recorded last week. Read more

The Pakistani rupee (PKR) remained relatively flat against the US dollar this week and settled today's trading session at PKR 279.36 per USD, approximately equivalent to the previous week's closing of PKR 279.36 per USD. Read more

The domestic Bullion market broke free from its 2-week-long losing streak as the price of 24-karat gold surged by Rs1,900 per tola to Rs215,100 this week. Read more

The International Monetary Fund (IMF) expressed its eagerness to collaborate with the new government on policies to ensure macroeconomic stability. Read more

The Cabinet Committee on Energy (CCoE) on Friday approved the commencement of work on the 80 km segment of the pipeline from the Pakistan border up to Gwadar in the first phase. Read more

The central bank has further eased rules for exporters, allowing them to use their Exporters’ Special Foreign Currency Accounts (ESFCAs) for any current account transactions abroad without prior approval. Read more

Standard Chartered Bank (Pak) Ltd (PSX: SCBPL) announced its results for 2023 wherein the bank’s net profit soared by 2.15x YoY to Rs42.62 billion [EPS: Rs11.01]. Read more

The banking sector spread for January 2024 has decreased by 62 basis points (bps) MoM to 7.02% as compared to a spread of 7.64% in December 2023. Read more

The country secured external financing worth $331.59 million in January 2024 from multiple financing sources, the latest monthly report by the Economic Affairs Division (EAD) showed. Read more

The management of Ghani Glass Limited (PSX: GHGL) on Friday informed that one of the furnaces of Float Glass has been shut down due to repair and maintenance purposes. Read more

Kohinoor Energy Limited (PSX: KOHE) has reported a profit after tax worth Rs757.29 million [EPS: Rs4.47] in 1HFY24, down by 2.36% YoY. Read more

The Board of Directors of Pakistan Cables Limited (PSX: PCAL) has approved the sale of a portion of the company’s land to repay loans and other liabilities, facilitating the relocation of its Karachi operations to the new site at Nooriabad. Read more

The board of directors of Nimir Industrial Chemicals Limited (PSX: NICL) on Friday approved the acquisition of a manufacturing facility consisting of the property, plant and equipment. Read more

The Weekly Sensitive Price Indicator (SPI) for the Combined Group inched up by 0.04% WoW during the week ended February 22, 2024, while the SPI by 30.68% YoY compared to the corresponding period from last year. Read more

Systems Limited (PSX: SYS) has received a D&B Business Rating Report from Dun & Bradstreet Pakistan, reflecting its financial standing and stability. Read more

Habib Bank Limited (PSX: HBL) recorded its highest profit of Rs57.76 billion [EPS: 39.32] in 2023. Read more

Engro Fertilizers Limited (PSX: EFERT)’s Pressure Enhancement Facility (PEF) Project Phase-I is nearing 60% completion by the end of CY24 while the preparations for Phase II are underway, anticipating the commencement by the end of 2025. Read more

Murree Brewery Company Limited (PSX: MUREB) experienced a rise of 94.79% YoY in its profitability in 1HFY24, clocking in its profit after tax at Rs1.05 billion [EPS: Rs41.66]. Read more

Thatta Cement Company Limited (PSX: THCCL) has recorded a remarkable turnaround as the country earned Rs358.08m [EPS: Rs3.64] 1HFY24. Read more

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Posted on: 2024-02-26T08:18:59+05:00