Brokerage

Karachi, May 31, 2013 (PPI-OT): The listed cement sector posted combined NPAT of PkR27.6bn in 9MFYI3 vs. combined NPAT of PkR9.26bn in the same period last year, translating into a stellar 3x increase. According to AKD Securities this robust growth was mainly driven by 13%YoY improvement in average retail prices …

Karachi, May 31, 2013 (PPI-OT): Cement dispatches slide by 10% MoM in May-13 As per the provisional numbers (29 Days) available with us, cement dispatches for May-13 appear to suffer a 10% MoM decline to 2.8mn tons. According to Arif Habib Limited the drag mainly came from a massive 14% …

Karachi, May 30, 2013 (PPI-OT): Although a formal strategy for tackling the energy crisis has not been announced, statements by the incoming government to bridge the power gap have gripped both media and market attention of late. According to AKD Securities in this regard, an issue of –PkR 500bn worth …

Karachi, May 30, 2013 (PPI-OT): Nishat Chunian Limited; Still time to be on-board! Arif Habib Limited initiates active coverage on Nishat Chunian Limited (NCL) with a BUY recommendation. According to Arif Habib Limited likeness towards the scrip is based upon its gigantic earnings growth in FY13 where the bottom-line is …

Karachi, May 28, 2013 (PPI-OT): Official statistics released by the National Fertilizer Development Centre (NFDC) depict a strong growth of 23%YoY and 32%YoY in urea and DAP off take in 4MCYI3 to 1.66mn tons 193k tons respectively. According to AKD Securities higher urea demand as a result of better crop …

Karachi, May 27, 2013 (PPI-OT): A tougher operating environment continues for Banks with lower asset re-pricing and tighter regulations on deposit costs combining to drive down the industry’s weighted averaged spread to 6.19% in Apr13, down by 103bps YoY/5bps MoM. As a result, with lower NIMs driving down Nil, banks …

Karachi, May 27, 2013 (PPI-OT): LOTCHEM: PTA-PX margin recovery offers opportunity to sell KASB Securities Limited considers recent recovery in PTA-PX margins to US$124/t (from US$66/t in Dec-12) as a dead-cat rebound without meaningful demand support. According to KASB Securities Limited keeps PTA-PX margin assumption intact at US$100-110/ton for 2013-14E. …