MG Morning Breeze: Updates to Skim before Market

August 27, 2024 (MLN): Morning Breeze aims to lessen the load for its readers by curating noteworthy updates from the preceding day.

• Govt plans to lower power tariffs in a year: Minister

The government will be able to reduce power tariffs within one year, as all necessary steps are being taken to address issues in the power sector. Read more

• HBL’s profit rises 7% in Q2 CY24, declares Rs4 DPS

Habib Bank Limited (HBL) earned Rs14.01 billion [EPS: 981] on an unconsolidated basis during the quarter ended June 30, 2024 (Q2 CY24). Read more

• BIPL declares Rs1.5 DPS as profit rises in Q2 CY24

BankIslami Pakistan Limited (PSX: BIPL) has revealed its financial statement for the quarter ended June 30, 2024, as per which the bank posted a profit. Read more

• SBP plans to borrow Rs6.1tr: Auction Calendar Aug-Oct

The government is targeting to borrow Rs6.1 trillion during the three months from August to October 2024. Read more

• PICT, Sky Media ink deal to enhance off-dock terminal operations in Karachi

Pakistan International Container Terminal Limited (PSX: PICT) to bridge the operations in the past, has signed an agreement with Sky Media (Pvt) Limited. Read more

• PSX Closing Bell: Ticker Tickle

The benchmark KSE-100 Index concluded Monday’s trading session at 78,571.05, showing a decrease of 230.37 points or 0.29%. Read more

• PKR gains around 9 paisa against greenback

The Pakistani rupee (PKR) appreciated by 8.56 paisa or 0.03% against the US dollar in Monday’s interbank session to settle the trade at PKR 278.42 per USD. Read more

• BAFL’s Bangladesh division receives acquisition proposal from Sri Lanka’s HNB

In connection with the proposed sale of Bank Alfalah Limited (PSX: BAFL), Bangladesh operations, the bank has received a non-binding offer from Hatton. Read more

• Weekly SCRA records net purchase of Rs536.4m

The net purchase of securities for the week ended August 16, 2024 clocked in at Rs536.37m, as compared to a net sale worth Rs22.76bn recorded last week. Read more

• Symmetry Group secures deals with six key customers for digital services

Symmetry Group Limited (PSX: SYM) has successfully secured contracts with six major customers for their digital projects, where the company. Read more

• Hub Power Holdings forms JV with Ark Metals for mineral exploration

Hub Power Holdings Limited (HPHL) has entered into a joint venture agreement with a mining company, Ark Metals (Private) Limited and its shareholders. Read more

• Shell Pakistan’s profit plummets 88% despite increase in sales

Shell Pakistan Limited (PSX: SHEL) reported a dramatic 87.9% decline in profit for the second quarter of 2024, falling to Rs1 billion [EPS: Rs4.69]. Read more

• HUBC declares Rs8.5 dividend as profit rises

Hub Power Company Limited (PSX: HUBC) experienced a rise of 9.5% in its profitability, with its profit after tax rising to Rs33.88 billion [EPS: Rs26.12]. Read more

• Service Industries’s Q2 profit soars by 190% to Rs2.04bn

Service Industries Limited (PSX: SRVI) reported a profit of Rs2.04 billion [EPS: Rs30.09] for the quarter ended June 30, 2024, a remarkable increase. Read more

• Information Minister unveils major overhaul of Pakistan television

Minister for Information and Broadcasting Attaullah Tarar has launched a comprehensive overhaul of Pakistan Television, as reported by the Information Ministry. Read more

• PM orders swift submission of plan for transfer of Pak PWD projects

Prime Minister Shehbaz Sharif has directed to submit a final plan for the transfer of the ongoing projects under Pak PWD to the provinces. Read more

• SGF reports 64% drop in quarterly earnings

Service Industries Limited (PSX: SRVI) earnings during the quarter ended June 30, 2024, fell over 64% to Rs65.13 million [EPS: Rs0.32] compared to a profit. Read more

• SYM renews contracts with 4 major clients, targets Rs70m revenue boost

Symmetry Group Limited (PSX: SYM) has successfully renewed its digital services contracts with four major customers, according to the company’s. Read more

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