Morning Briefing for December 13, 2013 – Standard Capital : AsiaNet-Pakistan

Morning Briefing for December 13, 2013 – Standard Capital

December 13, 2013 | Brokerage | Share:

Karachi, December 13, 2013 (PPI-OT): EU grants GSP Plus status to Pakistan

The European Union (EU) granted Generalised System of Preferences (GSP) Plus status to Pakistan with an impressive count of 406 votes, granting Pakistani products a duty free access to the European market.

According to Standard Capital, 406 members of the European Parliament expressed their support for Pakistan while 186 lawmakers voted against the status, which has been granted till 2017. The GSP Plus status will allow almost 20% of Pakistani exports to enter the EU market at zero tariff and 70% at preferential rates. This status would enable Pakistan to export more than US$1bn worth of products to the international markets. Only the textile industry would earn profits of more than Rs 1trn per year.

Snapshots of textile sector:
Textile Sector snapshot
Symbol   Name                               EPS Annual   EPS Latest   Expected P/E   Price to BV   ROE     ROA    Dividend Yield
ANL      Azgard Nine Ltd.                      2.12       -1.04(3M)        3.21          0.65      0.33    0.16        N/A
NML      Nishat Mills Ltd.                    16.63        6.23(3M)        5.63          0.57      9.34    6.23        5.14
NCL      Nishat (Chunian) Limited             12.51        1.23(3M)       11.48          1.25     11.51    3.95        3.54
KTML     Kohinoor Textile Mills Ltd            1.97        0.77(3M)        7.98          0.68      1.42    0.77        N/A
HIRAT    Hira Textile Mills                     2.4        0.50(3M)        7.25           0.6      8.77    3.53        N/A
KML      Kohinoor Mills Limited               19.81        1.01(3M)        3.99          0.63       221    10.8        N/A
GADT     Gadoon Textile Mills Ltd             48.42       13.01(3M)        3.84          0.76     12.46    6.31        6.26
IBFL     Ibrahim Fibre Limited                17.82        1.04(3M)       17.73          0.89     18.76    10.5        4.75
BNWM     Bannu Woollen Mills Ltd                 19        5.04(3M)        2.66          0.29     12.92    11.6        N/A
BTL      Blessed Textile Mills Ltd            61.35       15.25(3M)        2.29          0.36     13.76    8.69        3.58
GATM     Gul Ahmed Textile Mills               4.61        0.86(3M)        8.77          0.82     25.39    5.86        N/A
JKSM     J. K. Spinning Mills Ltd              9.84        2.50(3M)         2.9          0.59     10.31    5.65       17.24
ADMM     Artistic Denim Mills Ltd              9.02        3.86(3M)        3.82          1.22     11.59    5.82         1.7
IDYM     Indus Dyeing Manufacturing           129.1       30.98(3M)        8.39          2.09     21.28    14.4        0.96
LIBM     Liberty Mills Ltd.                   37.85       12.13(3M)        5.36          1.45     14.38    5.67        N/A
FZTM     Fazal Textile Mills Ltd.              70.5       24.43(3M)        3.44          0.92      7.58    2.52        1.49
BHAT     Bhanero Textile Mills Ltd            195.7       50.34(3M)        2.28          0.45     12.66    8.44        4.35
Source: www.scstrade.com

Govt releases Rs143.027bn for development projects
The government has so far released Rs 143.027bn under its Public Sector Development Programme (PSDP) for various projects against the total allocations of Rs540 bn for the fiscal year 2013-14. Out of these allocations, Rs25,862mn have been released for various projects of Pakistan Energy Commission, out of its total allocations of Rs 52,300mn earmarked under PSDP for FY14.

Govt to overcome gas shortage for industrial sector
For Protection of Interest of employees working in industrial sector, Ministry of Finance here on Thursday decided that natural gas is provided to the industry so that it remains unaffected. The Ministry of Finance was also directed to redouble its efforts to explore additional gas resources and accelerate the process so that the impact of gas shortage is minimized.

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