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Karachi, May 24, 2013 (PPI-OT): As per PBS, textile exports in the month of Apr’13 slipped by 3%MoM to US$1.1 bn where yam exports dropped by IO%MoM to US$1 88mn, following a 12%MoM decline in yarn export volumes. According to AKD Securities for IOMFYI3, textile exports are up by 6%YoY …
Read More »AKD Quotidian about — A Backdoor Case for Monetary Easing!
Karachi, May 23, 2013 (PPI-OT): Bouyed by post-election fervour and strong FPI flows (CYTD: US$283mn), the KSE-100 Index has gained 27%CYTD. According to AKD Securities in view, part of this bullish momentum may also be attributable to emergent expectations of further monetary easing. In this regard, potential arrangement of a …
Read More »AKD Quotidian about — Pakistan Market: Foreign interest leading the way
Karachi, May 22, 2013 (PPI-OT): Foreign investors pumped a robust US$26mn into the Pakistan Market yesterday where a strong uptick in FPI flows (US$221mn CYTD as per Bloomberg) has dilven the KSE-1 00 Index to return 25%CYTD. According to AKD Securities considering this recent foreign inflow (0.5% of total market …
Read More »AKD Quotidian about — DGKC: Upgraded to Buy!
Karachi, May 21, 2013 (PPI-OT): With the cement sector continuing to witness structural upturn, AKD Securities raises target price for DGKC to PkR1 08/share and upgrade AKD Securities stances to Buy. In this regard, AKD Securities expects the incoming government’s anticipated focus on big-ticket infrastructure development (e.g. dams) to drive …
Read More »AKD Quotidian about — Looming Risks on External Front
Karachi, May 20, 2013 (PPI-OT): The Current Account has registered a deficit of US$354mn in Apr13, down a sharp 36%MoM. According to AKD Securities this leads to a 58%YoY contraction in the 1OMFYI 3 CA deficit to US$1,418mn vs. a deficit of US$3,354mn in IOMFY12. In this regard, the MoM …
Read More »AKD Quotidian about — MCB: TP upgraded but still a Reduce
Karachi, May 17, 2013 (PPI-OT): Following a better than expected IQCY13 result, clear improvement in asset quality dynamics and prospects for strong capital gains, AKD Securities raise AKD Securities target price for MCB to PkR230/share from PkR182/share previously. According to AKD Securities, in this regard, AKD Securities believes MCB will …
Read More »Morning Call about – Fiscal deficit at 4.4% in 9M, thanks to under-target tax collections
Karachi, May 17, 2013 (PPI-OT): The official numbers released by the Ministry of Finance reported a budget deficit of PKR 1.05trn for 9MFY13 or 4.4% of GDP, against last year’s 4.3%. According to Arif Habib Limited, understandably, higher deficit came on the back of higher current expenditures and lower-than-targeted revenue …
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