February 27, 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 closed Monday's trading session at 63,305.93 showing an increase of 490.12 points or 0.78%. Read more
The Pakistani rupee (PKR) appreciated by over 16 paisa against the US dollar in Monday's interbank session as the currency settled the trade at PKR 279.2 per USD, compared to the previous session's closing of PKR 279.36 per USD. Read more
The domestic bullion market started the week on a positive note, with the price of 24-karat gold increasing by Rs700 per tola to reach Rs215,800 per tola on Monday. Read more
Engro Corporation (PSX: ENGRO) expects to book a capital gain from selling its stakes in energy thermal assets on a standalone basis. Read more
ENGRO’s earlier disclosed plans for restructuring and/or reorganization of its thermal energy assets under a separate wholly-owned holding company are not being pursued any further. Read more
ENGRO recorded a fall of 21.72% YoY in its profits in 2023, with the company's after-tax profits clocking in at Rs36.09 billion [EPS: Rs38.6]. Read more
The Competition Commission of Pakistan (CCP) has approved three mergers concerning Saudi Iron and Steel Company (Hadeed), having a presence in Pakistan’s steel market. Read more
The total deposits held by scheduled banks have moved up by 21.03% YoY to Rs27.54 trillion in January 2024 compared to Rs22.75tr in January 2023. Read more
Clover Pakistan Limited (PSX: CLOV) has reported a net loss of Rs8.27m [LPS: Rs1.27] in 1HFY24, 54.47% YoY down from the loss of Rs18.16m [LPS: Rs0.58] recorded in the same period last year (SPLY). Read more
Pakistan and the United Arab Emirates (UAE) have signed a Memorandum of Understanding today in Abu Dhabi aimed at boosting agricultural innovation and research related to development and promotion of various aspects of the Date Palm cultivation and related industry. Read more
The Board of Directors (BoD) of Zahur Cotton Mill Limited (PSX: ZHCM) has approved the draft Scheme of Arrangement to formalize a pivotal agreement between the company and Itanz Technology (Private) Limited (Itanz). Read more
Siddiqsons Tin Plate Limited (PSX: STPL) has decided to re-open the company's winder plant from Tuesday, February 27, 2024. Read more
Amid recent speculations circulating in the media, Pakistan State Oil Company Limited (PSO) on Monday clarified that no material developments have transpired regarding a Greenfield Refinery Project yet. Read more
Atlas Battery Limited (PSX: ATBA)'s financial statement for 1HFY24 reveals that the company's profit dropped 65.42% YoY to Rs273.43 million [EPS: Rs7.81] compared to a profit of Rs790.82m [EPS: Rs22.58] recorded in 1HFY23. Read more
D.G. Khan Cement Company Limited (PSX: DGKC) recorded an increase of 13.17% YoY in its unconsolidated profits in the first half of FY24, with the company's after-tax profits rising to Rs1.05 billion [EPS: Rs2.41]. Read more
Fauji Cement Company Limited (PSX: FCCL) has unveiled its financial performance for the first half of fiscal year 2024, wherein the profit after tax clocked in at Rs5.27 billion [EPS: Rs2.15]. Read more
Agha Steel Industries Limited (PSX: AGHA) reported its profit and loss statement for the six months ended December 31, 2023, wherein the unconsolidated profit after tax clocked in at Rs219.04 million [LPS: Rs0.36]. Read more
Loads Limited (PSX: LOADS) has sold its land and building situated at Plot No.23, Sector 19, Korangi Industrial Area, Karachi at Rs1.10 billion to reduce the borrowings. Read more
The Board of Directors (BoD) of TPL Trakker Limited (PSX: TPLT) has authorized management to initiate discussions with a UAE-based conglomerate that has expressed interest in taking a large equity stake in Trakker Middle East (TME). Read more
Nestle Pakistan Limited (PSX: NESTLE) has recorded a profit of Rs16.49 billion [EPS: Rs363.68] in 2023. Read more
The Board of Directors (BoD) of Fauji Cement Company Limited (PSX: FCCL) on Monday approved the enhancement in the renewable energy capacity of the company through the addition of 12.5 MW Solar Power plants taking the total capacity to 52.6 MW. Read more
Towellers Limited (PSX: TOWL) experienced a drop of 46.95% YoY in its earnings for 1HFY24, clocking in its profit after tax at Rs604.78 million [EPS: Rs35.58]. Read more
Sapphire Textile Mills Limited (PSX: SAPT) unveiled its profit and loss statement for the six months ended December 31, 2023, wherein the unconsolidated profit after tax clocked in at Rs2.05 billion [EPS: Rs94.58]. Read more
TPL Trakker Limited (PSX: TPLT) saw a substantial 2.9x YoY increase in its unconsolidated profits in the first half of FY24. Read more
Nishat Chunian Power Limited (PSX: NCPL) revealed its profitability for the first half of FY24, wherein the profit after tax clocked in at Rs2.43 billion [EPS: Rs6.6]. Read more
Pakistan Petroleum Limited (PSX: PPL) has recorded a robust growth of 43.9% YoY in its earnings in the first half of fiscal year 2024 as the company earned Rs69.79bn [EPS: Rs25.65]. Read more
Liberty Mills Limited, Soorty Enterprises (Pvt) Limited, and Affinity Capital Pvt Limited have submitted a Public Announcement of Intention to acquire up to 68.89% shares of Engro Powergen Qadirpur Limited (PSX: EPQL). Read more
Pakistan is moving ahead to build a pipeline that will transport natural gas from Iran, a move it says is needed to meet the country’s energy needs but is sure to raise eyebrows among the South Asian country’s Western allies. Read more
Right after the successful completion of the BMR (pyro process optimization) for the existing 6,700 TPD grey cement production line of Kohat Cement Company Limited (PSX: KOHC) located in Kohat, the clinker production capacity of the Company has enhanced from 6,700 TPD to 7,064 TPD. Read more
Tariq Glass Industries Limited (PSX: TGL) saw a remarkable 2-fold increase in its profits year-over-year during the first half of fiscal year 2024, earning a profit after tax of Rs2.72 billion [EPS: Rs15.79]. Read more
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Posted on: 2024-02-27T07:16:38+05:00
