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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 25, 2024 (MLN): Morning Breeze aims to lessen the load for its readers by curating noteworthy updates from the preceding day.

The executive board of the International Monetary Fund will meet on April 29 to discuss the approval of $1.1 billion funding for Pakistan, the fund said on Wednesday. Read more

The secondary market yields (PKRV) in the past two days have recorded a significant drop of up to 60 basis points across different tenures as the central bank's monetary policy meeting nears. Read more

The benchmark KSE-100 index closed Wednesday's trading session at 72,051.89 showing an increase of 692.49 points or 0.97%. Read more

The Pakistani rupee (PKR) depreciated by around 2 paisa against the US dollar in Wednesday's interbank session as the currency settled the trade at PKR 278.39 per USD, compared to the previous session's closing of PKR 278.38 per USD. Read more

Gold prices in Pakistan ticked up after two straight drops as the 24-karat gold gained Rs1,100 per tola to reach Rs242,000 per tola. Read more

The trading activity at the Pakistan Mercantile Exchange (PMEX) on Tuesday rebounded to Rs30.88 billion, up by 4.87% DoD compared to the previous session close of Rs29.44bn. Read more

 Pakistan Stock Exchange (PSX) has accepted the request for Voluntary Delisting of Pak Suzuki Motor Company Limited (PSMC) and decided to delist the company from the Exchange with effect from Friday, April 26, 2024. Read more

China and Pakistan on Wednesday signed four Memorandums of Understanding (MoUs) focusing on Flood Rehabilitation, Information and Communication Technologies, Juncao Technology, and China-Pakistan Development Cooperation Planning (2024-2028). Read more

Nimir Industrial Chemicals Limited (PSX: NICL) recorded a drop of 51.78% YoY in its profitability during the quarter ended March 31, 2024, clocking in its profit after tax at Rs364.95 million [EPS: Rs3.3]. Read more

Bank Alfalah Limited (PSX: BAFL) has recorded a profit of Rs9.93 billion [EPS: Rs6.31] for the quarter ended March 31, 2024, reflecting a decline of around 8% YoY. Read more

The Board of Directors of MCB Bank Limited (PSX: MCB) has approved the Scheme of Compromises, Arrangements and Reconstruction involving demerging and converting the bank's 39 branches into Islamic banking branches. Read more

Nimir Industrial Chemicals Limited (PSX: NICL) reached a definitive agreement with Procter & Gamble Pakistan Private Limited for the acquisition of its soap manufacturing facility situated in Hub, Baluchistan pending customary closing and regulatory approvals. Read more

MCB Bank Limited (PSX: MCB) kicked off the year 2024 on a positive note as its profits of 1QCY24 clocked in at Rs17.85 billion [EPS: Rs15.04]. Read more

Allied Bank Limited (PSX: ABL) experienced a rise of over 51% YoY in its profitability in 3QFY24, clocking in its profit after tax at Rs11.61 billion [EPS: Rs10.14]. Read more

The Competition Commission of Pakistan (CCP) has granted a time-bound approval to the exemption application for the technology transfer and license agreement between the Sui Southern Gas Company Limited (SSGCL) and USA-based Itron Inc. with certain conditions to be complied with. Read more

Rafhan Maize Products Limited (PSX: RMPL) experienced a fall of 30.3% YoY in its earnings in the first quarter of 2024, earning a profit after tax of Rs1.81 billion [EPS: Rs195.77]. Read more

Lucky Core Industries Limited (PSX: LCI) reported its earnings for the nine months ended March 31, 2024, with a profit after tax of Rs7.93 billion [EPS: Rs85.89], marking a decrease of around 46% YoY. Read more

Pakistan's plans to deregulate fuel prices could lead refiners to halt planned upgrades worth up to $6 billion and force some refineries to close, some of the country's top refiners said in a letter to the country's oil regulator. Read more

Pakistan Refinery Limited (PSX: PRL) unveiled its profit and loss statement for three months ended March 2024, wherein the loss after tax clocked in at Rs1.24 billion [LPS: Rs1.97]. Read more

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Posted on: 2024-04-25T06:00:00+05:00