Invest Capital Investment Bank Reports Modest Earnings Amidst Market Volatility

Karachi, Invest Capital Investment Bank (ICIBL), a notable entity in the investment banking sector, disclosed its earnings for the fiscal year ending February 2024, showcasing an earnings per share (EPS) of Rs. 0.32. Despite the challenging market conditions, the bank managed to report earnings, reflecting its resilience. The bank, which has been listed on the Pakistan Stock Exchange since 1993, holds a paid-up capital of Rs. 2,848.67 million. The report further indicated no dividend distribution for the years 2022, 2023, and 2024, underscoring a cautious approach in capital allocation amidst economic uncertainties.

Attock Refinery Reports Varied Closing Prices in Pakistan Stock Exchange Announcements

Islamabad, In the latest financial disclosures to the Pakistan Stock Exchange (PSE) on 26 March 2024, Attock Refinery Limited (ATRL) and its associated instruments exhibited a range of closing prices in Monday's trading session.

Attock Refinery Limited, trading under the company code ATRL, closed at PKR 366, marking a slight increase from its opening price of PKR 363.99. The stock fluctuated between a low of PKR 361.22 and a high of PKR 362.61 throughout the trading day. A total of 531,137 shares were traded, with the closing price slightly higher than the opening at PKR 363.17.

In a parallel announcement, the Attock Refinery preference shares, labeled as ATRL-APRB, showed a notable closing price of PKR 371.52, up from the opening price of PKR 368.12. The shares experienced a trading range between PKR 367 and PKR 368.81, with 357,000 shares changing hands, culminating in a closing price of PKR 369.57.

The ATRL-MARB variant of Attock Refinery shares, another set of preference shares, had a closing day with a minor increase, opening at PKR 364.46 and closing at PKR 366.5. These shares saw a low of PKR 362.02 and a high of PKR 363.6, with a total of 422,000 shares traded, resulting in a final price equal to the opening at PKR 364.46.

Lastly, the ATRL-MAY series reported no trading activity for the day, with an opening and closing price of PKR 0, despite a listed high of PKR 379.88. The absence of trades left the closing price at PKR 380.73, suggesting a pricing adjustment in anticipation of future trading.

HBL Income and Islamic Asset Allocation Funds Declare Distributions

Karachi, In recent announcements to the Pakistan Stock Exchange (PSE), the HBL Income Fund and HBL Islamic Asset Allocation Fund disclosed their distribution figures. The HBL Income Fund reported a 5.00% distribution for 2022 and Rs 5.50 per unit for 2023, with an offer price of 124.02 and a redemption price of 121.95. Launched in 2007, this fund has continued to provide steady returns. On the other hand, the HBL Islamic Asset Allocation Fund, with an inception year of 2016, announced a 7.00% distribution for 2022 and Rs 0.30 per unit, highlighting an offer price of 140.43 and a redemption price of 137.33. However, the Plan - 1 associated with the Islamic Asset Allocation Fund reported no distributions and no offer or redemption prices, indicating no activity for the period.

Askari Bank Ltd. Elevates Dividend Amid Positive Financial Performance

Karachi, Askari Bank Ltd. (AKBL) has announced an increase in its dividend distribution for the year 2024, setting the rate at 25%, an improvement from the 15% bonus distribution reported in 2023. The bank's daily weighted average share price was recorded at 20.16 PKR. With a paid-up capital of 14,492.99 million PKR, Askari Bank maintains a significant stake in Pakistan's banking sector. The financial report released to the Pakistan Stock Exchange revealed an earnings per share (EPS) of 11.16 PKR for the January-February 2024 period. Established in 1992, AKBL has consistently contributed to the country's banking landscape, showcasing a positive trajectory in its financial outcomes.

OGDCL Announces New Gas and Condensate Discovery in Kohat Block, Khyber Pakhtunkhwa

Islamabad, The Oil and Gas Development Company Limited (OGDCL), as the operator of the Kohat Exploration License in Khyber Pakhtunkhwa, has made a significant discovery of gas and condensate at the Togh-02 (Slant) exploratory segment in the Lumshiwal-II Formation. This discovery, achieved in collaboration between OGDCL holding a 75% stake and M/s Saif Energy Limited (SEL) with a 25% stake, marks a notable extension in the hydrocarbon play area within the region.

According to Oil and Gas Development Company Limited, the well was spudded on August 28, 2023, and reached its total depth of 2,600 meters measured depth (MD) successfully. The discovery was confirmed through the interpretation of wireline logs, followed by a Cased Hole Drill Stem Test (CHDST-01) in the Lumshiwal-II Formation. The test results were promising, with the well flowing at a rate of 2.842 million standard cubic feet per day (MMSCFD) of gas and 28 barrels per day of condensate (BPDC), under a wellhead flowing pressure of 540 pounds per square inch (PSI) using a 32/64" choke size.

This gas and condensate discovery is particularly significant as it not only adds to the hydrocarbon reserves in the Togh Structure but also opens up new opportunities for exploration and development in the area. The successful discovery is in line with OGDCL’s continued efforts to explore and develop new hydrocarbon reserves in the country, contributing to the energy sector's growth and stability. The information regarding this discovery has been disclosed in compliance with the Securities Act, 2015, and PSX Regulations, aiming to inform stakeholders and the public about the new potential in the Kohat Block.

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HBL Islamic Money Market Fund Reports 4.20% Distribution for 2023

Karachi, In a recent financial update, the HBL Islamic Money Market Fund reported a 4.20% distribution for the year, translating to Rs 4.20 per unit. This announcement, aimed at investors and market analysts, indicates the fund's consistent performance with an offer price of 102.31 and a redemption price of 101.17. Operational since 2011, the fund continues to be a stable option for those seeking Islamic money market solutions.

Ghani Global Holdings Reports Minimal Earnings in Fiscal Year 2022/2023

Karachi, Ghani Global Holdings (GGL), involved in the chemical industry, posted a daily weighted average rate of 9.93 RS. with an earnings per share of just 0.05 RS. for 2022/2023. The company did not announce any distributions for the years 2022, 2023, and 2024, indicating a challenging period. With a par value of 10 RS. and a market lot of 1, Ghani Global Holdings, which has been listed since 2010, faces the task of improving its financial performance in the upcoming periods.