October 27, 2023 (MLN): Morning Breeze aims to lessen the load for its readers by curating noteworthy updates from the preceding day.
The Pakistani rupee (PKR) depreciated by over 21 paisa against the US dollar in Thursday's interbank session and settled the trade at PKR 280.09 per USD. Read more
The performance of the best-performing currency PKR will be short-lived in the backdrop of financing risks and the upcoming elections, according to Goldman Sachs's analyst. Read more
The rise in global oil prices amid the Middle East conflict suggests a slight upward revision in petrol prices by around Rs2.43 per litre. Read more
Domestic bullion experienced a significant surge on Thursday, with the price of 24-karat gold increasing by Rs2,900 per tola to Rs211,350 at close. Read more
The foreign exchange reserves held by the State Bank of Pakistan (SBP) decreased by $219.8 million or 2.85% WoW to $7.49 billion during the week ended on October 20, 2023. Read more
The benchmark KSE-100 Index closed Thursday's trading session at 51,185.28 showing an increase of 8.15 points or 0.02%. Read more
Samba Bank Limited (PSX: SBL) announced its results for the nine months of 2023 where the bank’s net profits soared by 2.87x to Rs1.06 billion [EPS: Rs1.05]. Read more
Sazgar Engineering Works Limited (SAZEW) displayed a remarkable financial prowess as the company reported a staggering 59.82x YoY surge in profits to Rs658.53 million [EPS: Rs10.89] in 1QFY24. Read more
Kot Addu Power Company Limited (PSX: KAPCO) experienced a rise of 44% YoY in its profits in 1QFY24 despite no sales, recording a profit after tax of Rs1.18 billion [EPS: Rs1.34]. Read more
Faysal Bank Limited (PSX: FABL)’s profit grew by 57.41% YoY to Rs12.31 billion [EPS: 8.11] in 9MCY23. Read more
SBP issued the no objection certificate to Bank Alfalah Limited (PSX: BAFL) on Thursday for establishing an exchange company in the name of Alfalah Currency Exchange (Private) Limited. Read more
Bank Alfalah Limited (PSX: BAFL)’s profit rose by 92.34% YoY to Rs27.46 billion [EPS: 17.41]in 9MCY23. Read more
Mari Petroleum Company Limited (PSX: MARI) revealed its profitability for the first quarter of FY24, wherein the profit after tax clocked in at Rs19.14 billion [EPS: Rs143.5]. Read more
Allied Bank Limited (PSX: ABL’s) profit for the 9MCY23 saw growth of 41.89% YoY, clocking in its profit at Rs29.03 billion [EPS: 25.35]. Read more
To further strengthen the controls against Money Laundering (ML)/ Terrorist Financing (TF) risks, the SBP has advised banks and MFBs offering BB services to adopt specific measures. Read more
The success of Engro 'Zabardast Urea' has attracted the attention of Fauji Fertilizer Company Limited (PSX: FFC) and is considering entering into Zincated Urea given the significance of additional margins. Read more
The Pakistan Association of Large Steel Producers (PALSP) has called on the SBP to reduce interest rate during the upcoming Monetary Policy meeting to solve the existential crisis in the steel industry. Read more
The Board of Directors (BoD) of Fatima Fertilizer Limited (FATIMA) has approved the acquisition of up to 34.83 million shares of National Resources (Private) Limited (NRL) for an aggregate purchase price of up to Rs252.19m. Read more
Bestway Cement Limited (PSX: BWCL) experienced a fall of 7.06% YoY in its profit for the 3QCY23, its profit after tax standing at Rs 3.08 billion [EPS: 5.16]. Read more
A complaint has been filed by Transparency International Pakistan (TIP) against Pakistan Television (PTV) for allegedly hiring three anchors without any advertisement and open competition. Read more
Fatima Fertilizer Company Limited (PSX: FATIMA) has revealed its profit and loss statement for 9MCY23 as per which the company recorded a profit of Rs12.99bn [EPS: 6.19], reflecting an increase of 20.17% YoY. Read more
Hyundai Nishat Motor (Pvt.) Limited has also decided to pass on the forex benefit of PKR appreciation against USD to its customers. Read more
Copyright Mettis Link News
Posted on: 2023-10-27T06:00:00+05:00
