PakStox Outlook

International coal prices have undergone considerable fluctuations in recent years, propelled by a complex interplay of various factors. The year 2023 witnessed a modest downturn from the zenith of 2022. Presently, prices hover around $137 per metric tonne (MT), marking a notable descent from the staggering pinnacle of $458 recorded in September 2022. Nonetheless, prices persist at substantially elevated levels compared to those predating 2022. In 2022, a convergence of circumstances propelled prices to unprecedented heights. Disruptions within the global supply chain constrained the availability of coal, while demand, particularly in Asia, surged significantly. Furthermore, China's unspoken embargo on Australian coal, a pivotal source of high-quality supply, stemming from ongoing political tensions, exacerbated the situation. This embargo compelled China to seek alternative sources, further constricting the market and driving prices to astronomical levels. The ongoing conflict ...

DG Khan Cement Company Limited (DGKC): Financial Results - Q3 2024 Earnings per Share (EPS) : Rs. 2.69 for Q3 2024, flat compared to the same quarter last year. Nine-month EPS stands at Rs. 5.10. Dividends: The company is not yet in a position to pay dividends. However, improved margins suggest a turnaround in profitability. Operating Performance:  Sales in the third quarter decreased by 22% compared to the same period last year, reflecting the general economic downturn. However, margins improved due to favorable coal prices. Lower distribution expenses also contributed to a 9% increase in profit before tax. Despite this, profit after tax remained flat at Rs. 1.18 billion due to a higher tax expense of 39%. Profitability : High interest payments are a major drag on profitability. For the first nine months of this fiscal year, DGKC's financial charges exceeded 65% of gross profit. Note that the company had incurred a significant loss of over Rs. 7.2 billion in the fourth quarter of...

Foreign Corporates net buying today was over $5.4 million. This is at a higher level than the avarege. The KSE100 Index rose by 620 points and closed near the 71k level. The bullish tone was set yesterday by foreign investors when they made a record net buying of $22 million in one day and forced the market to recoup its earlier intra-day losses. In ‘local investors’, the biggest net sellers were ‘companies’ with over $3.3 million net selling followed by ‘Individuals’ with a net selling of around $1.3 million. Foreign Corporates have made a net buying of over $ 50.7 million year to date. And this period 'overseas Pakistanis' have been a net seller of almost $5 million.  Foreign investors were heavy seller in the market in the January this year. It was probable just Fund that took the opportunity of quick capital gain in a short time as PSX started the bullish trend after IMF deal rose quickly.

A number of stocks in the Auto sector of Pakistan Stock Exchange were either at upper limit or close to it. Dewan Motors witnessed increased of 7.48%, while Ghandhara Automobile and Ghandhara Ind. surged by 7.32% and 7.06%, respectively. Honda Atlas Cars also hit upper limit and closed up 7.50%. Hinopak Motor, though slightly lower at 3.92%, still exhibited positive growth. And of course, Sazgar Eng hit the upper limit and closed +7.50%. Yesterday as well it had gained 6%. It announced EPS of Rs 50 for the quarter.  Agriautos Ind also  followed bullish trend and closed +6.56%.  Loads closed at +11.7%. And Ghandara Tyres at +5.4%

Sazgar Engineering Works Limited Financial Results: 3rd Quarter Ended Mar-2024 Cash Dividend: an interim cash dividend of Rs. 8/- per share. EPS: Rs. 50. Just compare this to Rs. 7.36 in the same quarter last year.  SAZGAR Engineering (SAZEW) had reported a noteworthy development in their 2023 annual report - the commencement of commercial production of HAVAL SUVs and the introduction of Pakistan's first locally assembled Hybrid Electric Vehicle. Financials of this 3rd quarter and same quarter last year year are not comparable. The company has grown astronomical. Market Price: SAZEW has hit upper limit. Current market price is Rs.555.07 gaining Rs. 38.73 (+7.50%) Year to date the scrip has gained 212% and in one year the gain is close to 1000% The Company is principally engaged in the manufacturing and sale of automobiles including Four Wheelers and Three Wheelers, Tractor Wheel Rims and Home Appliances. Download Sazgar Results announcement

LOTTE Chemical Pakistan Limited Financial Results: Quarter Ended March 31, 2024 Cash Dividend: Rs. 0.5 per share EPS: Rs. 0.6 (compared to Rs. 1.68 in the first quarter of the previous year) During this quarter, LOTCHEM's gross margin experienced a significant decline, dropping to 5% from 20% in the same period last year. Despite a robust sales growth of over 46% compared to last year's first quarter, the decline in gross margin impacted profitability. The plummeting gross margin led to a more than 60% decrease in both gross profit and operating profit. Additionally, the higher tax rate of 39%, up by 6% from the previous year, further affected the bottom line, resulting in a 65% decrease in profit after tax to Rs. 0.89 billion. As of yesterday, LOTCHEM closed at a market price of Rs. 18.34. It has declined more than 32% this year. Lotte Chemical Corporation owns over 75% shares of LOTCHEM. LOTCHEM Announcement.

Today as PSX came under selling pressure, and the KSE100 Index broke the 70k level, declining more than 500 points intra-day, The 'Foreign Corporates were waiting in the wings to capture the opportunity. They made a net buying of over $22.98 million - biggest amount in several years. By day end the KSE100 had almost fully recovered, restoring the 70k level decisively. Today’s investment by foreign corporates is higher than their entire net buying in this current month. Even overseas Pakistanis were net buyers today in their own insignificant way. In ‘local investors’ category (LIPI), everyone sold except mutual funds. Fund’s net buying was not significant, but the positive figure is nonetheless important. In local investors, ‘Individuals’ sold massively, with net selling of $19.3 million, they were followed by ‘Companies’ with $3.2 million net selling. It is important to note that not all investors in the ’Foreign Corporates’ are foreigners or ‘foreign funds. Some of the so called ...