Karachi: While MCB’s CY11 result surprised us on the downside (NPAT of PkR19.3bn vs. expected NPAT of PkR20.9bn); AKD Securities notes the presence of several one-offs including 1) high effective tax rate of 38%, 2) a degree of discretionary provisions and 3) loss from associates. According to AKD Securities, likely …
Read More »Daily Archives: March 21, 2012
Morning Call about SBP 1HFY12 Report and External Account – Arif Habib Limited
Karachi: External Account remains the ‘The Achilles heel’ of the economy SBP 1HFY12 report Major improvement seen in the 1HFY12, SBP reports The recently published 1HFY12 report by the State Bank of Pakistan (SBP) “The State of Pakistan’s Economy” highlights some of the major improvements which took place during the …
Read More »Resumption of NATO supply made conditional – Alfalah Securities Limited
Karachi: The Parliamentary Committee on National Security (PCNS) presented its recommendations on the new terms of engagement with the US/Nato/Isaf in the joint sitting of parliament on Tuesday where it was recommended that Pakistan should seek an unconditional apology from Washington for the unprovoked attack on the Salala check post. …
Read More »Power Tariff hiked by PKR 6.39 per unit – Alfalah Securities Limited
Karachi: National Electric Power Regulatory Authority (Nepra) has raised the power tariff by PKR 6.39 per unit because of higher fuel cost during November 2011 to February 2012. According to Alfalah Securities Limited, the fuel cost is passed on to end users under the monthly fuel price adjustment mechanism. Rising …
Read More »SBP cautions on rising economic risks – Alfalah Securities Limited
Karachi: The State Bank of Pakistan (SBP) has released 2nd Quarterly Report for FY12 wherein it has cautioned on the rising risks to macroeconomic stability. According to Alfalah Securities Limited, as per the report, the weak economic scenario would lead to lower than projected GDP growth and is likely to …
Read More »BOA‐ Merrill Lynch approved to act as Market makers for Fatima – Alfalah Securities Limited
Karachi: US regulator, Finra has given its approval to the Bank of America‐ Merrill Lynch to act as a Market maker by facilitating the trading of Fatima’s American Depository Receipt (ADR) in the US over the counter (OTC) markets. According to Alfalah Securities Limited, Fatima’s ADRs would be traded under …
Read More »Mari Gas begins additional supply to SNGPL – Alfalah Securities Limited
Karachi: Mari Gas Company Limited (Mari) has started supplying 44 mmcfd gas from its Mari Field (Mari Deep Reservoir) since March 10, 2012 to the Sui Northern Gas Pipelines (for Wapda). According to Alfalah Securities Limited, Mari supplies gas to Engro, FFC, WAPDA, SSGC and Fatima Fertilizer and its major …
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