MG Morning Breeze: Updates to Skim before Market

October 04, 2023 (MLN): Morning Breeze aims to lessen the load for its readers by curating noteworthy updates from the preceding day.

• PKR continues its ascent, appreciates by over 1 rupee against greenback

The Pakistani rupee (PKR) continued its ascent for the 20th straight session, appreciating by over 1 rupee against the US dollar in Monday's interbank session as the currency settled the trade at PKR 285.72 per USD, compared to the previous session's closing of PKR 286.76 per USD. Read more

• ECC forms committee on fertilizer industry gas allocation, pricing

The Economic Coordination Committee (ECC) of the Cabinet on Tuesday decided to constitute an inter-ministerial Committee to present recommendations on the allocation and pricing of gas for the fertilizer industry. Read more

• Cement dispatches drop by 4% YoY in September 2023

Cement dispatches declined by 3.96% YoY to 4.115 million tons in Sep 2023, as compared to 4.284m tons in the same month of last fiscal year. Read more

• PSX Closing Bell: Good vibes only

The benchmark KSE-100 Index ended Tuesday's trading session at 46,756.80 showing an increase of 129.72 points or 0.28%, closing in towards the key 47,000 level. Read more

• Ghani Glass shines bright as FY23 profits surged to Rs8.1bn

The profitability of Ghani Glass Limited (PSX: GHGL) has soared by around 34% YoY in FY23 to Rs8.1 billion (EPS: Rs8.1) compared to the profits of Rs6bn [EPS: Rs6.05] in FY22. Read more

• GHNI’s profit tumbles by 75% YoY to Rs179.42m in FY23

Ghandhara Industries Limited (PSX: GHNI) has reported a profit of Rs179.42 million [EPS: 4.21] in the fiscal year 2023. Read more

• Unity Foods ends FY23 with 69% YoY lower profit

Unity Foods Limited (PSX: UNITY) witnessed a substantial 69.05% YoY decline in its profitability, with its after-tax profit for FY23 standing at Rs675.09 million, as compared to a noteworthy profit of Rs2.18 billion [EPS: Rs1.83] during last year. Read more

• BAFL to set up an exchange company with Rs2bn paid-up capital

The Board of Directors of Bank Alfalah Limited (PSX: BAFL) has approved the establishment of an Exchange Company with an initial paid-up capital of up to Rs2 billion. Read more

• Ghandhara’s earnings fall by 38% in FY23 amid losses from associate

Ghandhara Automobiles Limited (PSX: GAL) 's profitability plunged by 38.17% YoY, clocking in its profit after tax at Rs173.53 million in FY23 [EPS: Rs3.04] compared to a profit of Rs280.67m [EPS: Rs4.92] in the previous last year. Read more

• Pakistan’s real GDP to rebound to 1.7% in FY24: World Bank

 Pakistan's real GDP growth is projected to rebound to 1.7% in FY24 and 2.4% in FY25. Read more

• SHC grants interim relief to TRG Pakistan against requisition notice

In a noteworthy development, the Honorable High Court of Sindh (SHC) has issued an interim order, effectively restraining the implementation of the contentious requisition notice. Read more

• BOP Taqwa offers 9% interest-free return on USD Riba Free Certificates

Investors looking for attractive and interest-free returns can explore the USD Riba-Free Certificate offered by Bank of Punjab (BOP) Taqwa, offering returns as high as 9% per annum. Read more

• TOMCL secures UAE approval for ‘Red, White Offals’ export

The Organic Meat Company Limited (PSX: TOMCL) has received authorization from the UAE authorities to export "Red and White Offals (frozen and fresh vacuum packed)" to the UAE. Read more

• TPL Logistics extends binding offer for GEMUNSL’s e-commerce domestic operations

Universal Network Systems Limited (PSX: GEMUNSL) has received a binding offer from TPL Logistics (Private) Limited for the acquisition of its e-commerce domestic operations business. Read more

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