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MG Morning Breeze: Updates to Skim before Market

MG Morning Breeze: Updates to Skim before Market
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April 24, 2024 (MLN): Morning Breeze aims to lessen the load for its readers by curating noteworthy updates from the preceding day.

Broad money (M2), the most widely used measure of money supply in Pakistan, rose by Rs40.39 billion WoW to Rs33.43 trillion as of April 12, 2024. Read more

The government of Pakistan has acquired an additional debt of Rs383.09 billion during the week ended April 12, 2024, which brings its total net borrowing for ongoing fiscal year 2024 to Rs4.47 trillion. Read more

The benchmark KSE-100 index concluded Tuesday's trading session at 71,359.41 showing a marginal decrease of 74.06 points or 0.1%. Read more

The Pakistani rupee (PKR) depreciated by 4.36 paisa against the US dollar in Tuesday's interbank session as the currency settled the trade at PKR 278.38 per USD, compared to the previous session's closing of PKR 278.33 per USD. Read more

Gold prices in Pakistan plummeted on easing geopolitical tensions in the Middle East and signs the Federal Reserve will keep rates higher for longer, with 24-karat gold falling Rs7,800 to Rs240,900 per tola. Read more

The trading activity at the Pakistan Mercantile Exchange (PMEX) on Monday plummeted to Rs29.44 billion, marking a significant decline of 21% DoD compared to the previous session close of Rs37.26bn. Read more

The Board of Directors of Janana De Malucho Textile Mills Limited (PSX: JDMT) has approved the sale of a sizeable part of old machinery of the company. Read more

Treet Corporation Limited (PSX: TREET) revealed its earnings for the quarter ended March 31, 2024 (3QFY24), wherein the profit after tax clocked in at Rs138.64 million [EPS: Rs0.55], reflecting a rise of 66.65% YoY compared to a profit of Rs83.2m [EPS: Rs0.37] in the same period last year (SPLY). Read more

The Drug Court in Rawalpindi issued a judgment on April 22, 2024, in Case Judicial No4229/DC/Rwp/22 against current and former officers of GlaxoSmithKline (PSX: GLAXO) under the Drugs Act 1976, pertaining to the provision of sub-standard drugs. Read more

The country secured external financing worth $218.53 million in March 2024 from multiple financing sources. Read more

Regassified Liquefied Natural Gas (RLNG) prices for April 2024 have been raised by 1.03% and 1.06% for Sui Northern Gas Pipelines Limited (SNGPL) and Sui Southern Gas Company Limited (SSGC) respectively. Read more

Habib Bank Limited (HBL) has earned Rs14.59 billion [EPS: 9.95] on an unconsolidated basis during the quarter ended March 31, 2024 (3QFY24), reflecting a marginal 4.61% YoY drop compared to the profit of Rs15.3bn [EPS: 10.43] earned in the corresponding period last year. Read more

Pakistan International Bulk Terminal Limited (PSX: PIBTL) turned around in the first quarter of 2024, earning a profit after tax of Rs335.58 million [EPS: Rs0.19] compared to a loss of Rs2.35 billion [LPS: Rs1.32] in SPLY. Read more

International Steels Limited's (PSX: ISL) profit after tax fell 53.5% YoY to Rs705.7 million [EPS: Rs1.62] in the first three months of 2024, as compared to a profit of Rs1.52 billion [EPS: Rs3.48] in SPLY. Read more

Federal Minister for Finance and Revenue Muhammad Aurangzeb said that he expected the foreign exchange reserves held by the State Bank of Pakistan (SBP) to rise to around the $9-10 billion level by the end of fiscal year 2024. Read more

Treet Battery Limited (PSX: TBL) reported its profit and loss statement for the nine months ended March 2024, wherein the loss after tax clocked in at Rs331.26 million [LPS: Rs0.38]. Read more

Secure Logistic Group Limited (PSX: SLGL) has utilized Rs981.2 million or 82.8% of the total pre-initial Public Offering (IPO) and IPO proceeds to pre-pay and fully settle different debt facilities, the company's filing on PSX revealed. Read more

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Posted on: 2024-04-24T08:02:00+05:00