Aug 28

From Prepaid to postpaid: PTCL regains limelight at KSE

Karachi: PTCL is one stock which has out performed KSE 100 index by 12% so far in 3 trading sessions following the news flow that government is planning to cancel all pre-paid SIMs which may rejuvenate PTCL landline revenues and resurfaced rumors regarding establishment of ICH (International Clearing House) which will increase ASR (Approved Settlement Rates) effecting positively on its revenues.PTCL

With US$4bn worth telecom industry under threat of loosing its prepaid cellular customers, there is increased anticipation amongst investors that PTCL will stand as the major gainer.

They believe that the move will rejuvenate PTCL’s ailing fixed line business as gov’t tries to discourage prepaid SIMs. However, it is not anticipated any major change in PTCL’s revenue even if government tends to cancel all undocumented pre-paid SIMs.

However, the government authorities has indicated that there is no such plan under consideration to block prepaid SIMs, while we also believed the proposed steps seems impractical on account of its determinant effort on future dynamics of the sector and could constrain the fiscal space to the gov’t.

Therefore, though the gov’t is likely to take measures to increase documentations of cellular consumer base, it is highly unlikely that all or significant percentage of prepaid SIMs will be blocked.

The area of interest for the investors is the resurfaced rumors regarding formation of ICH that created excitement in the scrip few months back also. Though, investors still await material development on this front, formation of ICH could substantially augment PTCL profitability.

Apr 09

Pakistan stocks end marginally lower; rupee weakens; o/n rates flat

KARACHI: Pakistan stocks ended marginally lower on Monday, led by selling of market heavyweight Oil and Gas Development Company (OGDCL), but losses were capped by buying in second-tier shares.karachi stock exchange

The Karachi Stock Exchange (KSE) benchmark 100-share index ended down 0.08 percent, or 10.85 points, at 13,864.68 points.

Volume fell to 348.24 million shares, compared with 433.02 million shares traded on Friday.

“Profit taking continued at the local bourse as OGDCL fell 1.7 percent, which contributed a fall of 42 points on the KSE-index,” said Samar Iqbal, a dealer at financial services company Topline Securities.

OGDCL ended at 165.75 Pakistani rupees.

In the currency market, the rupee ended weaker at 90.67/69 to the dollar, compared with Friday’s close of 90.56/60 because of increased import payments.

Overnight rates in the money market stayed flat at 9.10 percent, unchanged from last Thursday’s close because of increased liquidity in the interbank market. AGENCIES

Mar 27

KSE 100-share index gains 163 points

karachi StockKARACHI: The Karachi Stock Exchange (KSE) benchmark 100-share index ended 1.23 percent, or 163 points, higher at 13,449.73 points. Volume fell to 166 million shares, compared with 278 million traded on Monday.

Stocks ended more than 1.2 percent higher on Tuesday led by the cement sector, but volume was dull as investors preferred to stay on the sidelines following violence in Karachi, the country’s financial hub, dealers said.

“Concerns about law and order in the city affected the sentiment at the market today,” said director at Arif Habib Corp.

“Investors looked keen to invest in the cement sector due to expectations of good earnings this year,” said a dealer at Topline Securities. (Reuters)