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MLCF trades in PIOC shares

MLCF trades in PIOC shares
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March 10, 2023 (MLN): Maple Leaf Cement Factory Limited (MLCFL) has traded in the ordinary shares of Pioneer Cement Limited (PIOC).

In a notice to PSX by PIOC on Friday, it was also mentioned that no further details have been provided by MLCFL at this time.

The trading of shares between these two companies has piqued the interest of market analysts who are eagerly awaiting more information on this development.

MLCFL is one of the leading cement manufacturing companies in Pakistan and has a strong reputation for producing high-quality cement.

Similarly, PIOC is also a prominent player in the cement industry and is known for its innovative approach to business.

At the time of writing, the scrips of the MLCF and PIOC are being traded at Rs25.53 and Rs67,85, respectively. 

With the cement industry playing a crucial role in the economic development of Pakistan, any significant changes in the market are likely to have far-reaching consequences.

It is pertinent to note that the cement industry in Pakistan is currently experiencing a disparity between its trading price and replacement cost as the average enterprise value (EV) per ton of cement is only $22, significantly lower than the replacement cost of $80-100 per ton.

This has led to an undervaluation of the industry, which has not been reflected in stock prices.

The industry has adjusted its earnings to account for the currency devaluation, but this has not been reflected in the stock prices, leading to a discrepancy between the industry’s true value and its current trading price.

Copyright Mettis Link News 

Posted on: 2023-03-10T11:30:52+05:00