AKD Quotidian : AsiaNet-Pakistan

Tag: AKD Quotidian

AKD Quotidian about — Feb’ 14 Textile Exports

March 25, 2014 | Brokerage

Karachi, March 25, 2014 (PPI-OT): According to details released by the Pakistan Bureau of Statistics (PBS), textile exports for the month of Feb’14 increased by 3%MoM to US$1.131bn bringing 8MFY14textile exports to US$9.155bn, up 828%YoY. According to AKD Securities, the benefit of GSP Plus status is yet to materialize. This is evident from the sequential …

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AKD Quotidian about — Pakistan Market: The OGDC conundrum

March 24, 2014 | Brokerage

Karachi, March 24, 2014 (PPI-OT): With the PKR appreciating by 7.2% against the US$ from its CYTD bottom, there was an element of concern that currency gains could tempt foreign investors to book profits where Friday’s net sell of US$4.7mn (primarily in Oil and Gas sector; likely OGDC which came off by 4.4%) was the …

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AKD Quotidian about — PSMC: TP revision following stronger PKR

March 21, 2014 | Brokerage

Karachi, March 21, 2014 (PPI-OT): Following swift PKR appreciation, subsequent incorporation of higher GMs and a revision in volume estimates, AKD Securities raises AKD Securities’ EPS estimates for PSMC by 6% on average. According to AKD Securities, together will rollover onto Dec’14, AKD Securities’ target price for PSMC rises to PKR195/share (+12%). AKD Securities forecasts …

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AKD Quotidian about — NBP: Worst may be over

March 20, 2014 | Brokerage

Karachi, March 20, 2014 (PPI-OT): Following NBP’s worst performance in 10yrs (CY13 NPAT: PkR5.4bn, EPS: PkR2.48), AKD Securities cuts AKD Securities’ Dec’14 target price to PkR60/share but retain an Accumulate stance based on an anticipated swift rebound in profitability. According to AKD Securities, with Bangladesh operations ~60% provided for and domestic impairment headed lower, the …

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AKD Quotidian about — BAFL: Poised for strong growth

March 19, 2014 | Brokerage

Karachi, March 19, 2014 (PPI-OT): Following better than expected results in CY13 (EPS: PkR3.47, +3%YoY) where a sharp reduction in NPL stock was a key highlight, AKD Securities lifts AKD Securities’ Dec14 target price for BAFL to PkR32/share from PkR27/share. According to AKD Securities, AKD Securities’ bullish stance is premised on a projected 5yr NPAT …

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AKD Quotidian about — NML: Attractive despite 2HFY14 weakness

March 18, 2014 | Brokerage

Karachi, March 18, 2014 (PPI-OT): While NML posted strong results during 1HFY14 (EPS: PkR1O.96; +35%YoY), 2HFV14 results are expected to be sequentially lower due to lower core income on a stronger PKR as well as likely lower dividend income. According to AKD Securities, these stand to counter the impact of anticipated higher `other income’ from …

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AKD Quotidian about — Pakistan Economy: SBP to wait and see

March 17, 2014 | Brokerage

Karachi, March 17, 2014 (PPI-OT): In a not unexpected move, the SBP has kept the Discount Rate unchanged at `10% for the next two months. According to AKD Securities, in this regard, while the central bank has cited lower inflation and rebound in LSM growth as positive factors, it wishes to see further comfort on …

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AKD Quotidian about — Pakistan Market: Normalized growth in the high-teens

March 14, 2014 | Brokerage

Karachi, March 14, 2014 (PPI-OT): The AKO Universe has posted combined earnings of PKRIO8.6bn in 4QCY13, translating into 11%YoYgrowth (ex-PTC: 18%YoY). According to AKD Securities, normalized growth in the high-teens is broadly in line with the average pace of earnings growth over the last few years, which indicates both the resilience of Pakistani corporate as …

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AKD Quotidian about — Pakistan Economy: Stronger PKR may unlock monetary easing

March 13, 2014 | Brokerage

Karachi, March 13, 2014 (PPI-OT): In a surprising development, the PKR/US$ parity has appreciated by 6.68%MTD (7.04%CYTD) to PKR97.90/US$, a remarkable recovery last witnessed in 2001. According to AKD Securities, this strength in the PKR has come on the back of 1) building up of FX reserves following receipt of US$1.5bn from an undisclosed friendly …

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AKD Quotidian about — Cotton Update Feb14

March 12, 2014 | Brokerage

Karachi, March 12, 2014 (PPI-OT): USDA recently released its cotton report for March14 wherein Cot look has reduced its global consumption estimates for MY2014/15 (MY: Marketing Year starting August 1st) by 270k bales to 109.21mn bales, resulting in an increase in ending global inventories by 285k bales to 96.75mn bales. According to AKD Securities, USDAs …

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AKD Quotidian about — Autos: Flattish sales in Feb14

March 11, 2014 | Brokerage

Karachi, March 11, 2014 (PPI-OT): Total auto sales (cars + LCVs) in Feb14 have registered at 12,789 units (+1%YoY/-8%MoM) with car sales clocking in at 11,238 units (-1%YoY/- 6%MoM). According to AKD Securities, as a result, 8MFY14 car sales are up by 3.5%YoY to 76,072 units. HCAR has been the main outperformer, post launch of …

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AKD Quotidian about — HBL: Picking momentum but rallied already

March 7, 2014 | Brokerage

Karachi, March 07, 2013 (PPI-OT): AKD Securities raise AKD Securities target price for HOL by 6.5% to PKR165/ share following an average 5% increase in AKD Securities EPS estimates across the next 5yrs after better than expected CVI3 results +ve surprises in fee and fx income). According to AKD Securities, going forward, AKD Securities see …

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