KSE-100: Upbeat sentiments on revised-up GDP growth projections lifts index by 182 points
May 25, 2021
Bullish momentum continued at Pakistan Stock Exchange (PSX) in the first session of the week following a positive momentum build-up on Friday, as investors continued to cheer the revised-up GDP growth projections and expectations of a people friendly- populist budget.
On Monday, the benchmark KSE-100 index closed above 46,000 index level after gaining about 182 points by the closing bell, as the Index remained positive throughout the session touching an intraday high of 46,314.39.
Market participants closely followed the political developments, and cheered resolution of disputes between the members of the ruling party.
Pakistan’s cement producers plan to expand their capacity by more than 40 per cent from nearly 69 million tonnes to nearly 99m tonnes over the next several years. File photo
LAHORE: Pakistan’s cement producers plan to expand their capacity by more than 40 per cent from nearly 69 million tonnes to nearly 99m tonnes over the next several years in anticipation of 10-15pc growth in their sales every year, claims an All Pakistan Cement Manufacturers Association (APCMA) official.
Speaking with
Dawn, the APCMA official, who requested anonymity, said almost every cement manufacturer had planned to increase their production capacity through greenfield and brownfield projects. Many projects, especially the brownfield ones, are expected to come on line in the next two years, adding nearly 18m tonnes to the existing capacity.
KSE-100: Stocks stay flat amid absence of triggers
April 14, 2021
Stocks failed to figure out a direction on Tuesday, as absence of triggers and Covid-19 fears continue to weigh on market sentiments.
On Tuesday, the benchmark KSE-100 opened on a positive note and touched intra-day high at 45,133.41 level after gaining 155.36 points. However, paring earlier gains, the index reversed its trajectory and touched intra-day low at 44,780.06 level after losing 197.99 level.
By the closing bell the benchmark index gained, merely 70.52 points to clock at 45,048.57 level.
During the session the market cheered strong inflows from overseas Pakistani in the form of remittances which exceeded $2 billion for the10th consecutive month in March and clocked at $2.7 billion – up 43 per cent from a year earlier, the State Bank of Pakistan (SBP).
KARACHI: Maple Leaf Cement Factory Ltd (MLCF) informed the PSX on Tuesday that the existing clinker capacity of their brown field line-3, located at Iskanderabad, had been enhanced by 500 tonnes to 7,800 tonnes per day.
“Accordingly, the existing total grey clinker capacity will increase from 18,000 tonnes to 18,500 tons per day of clinker,” the company stated.
EFU posts Rs2.37bn profit
EFU General declared after tax profit at Rs2.371 billion and earnings per share at Rs11.85 for the year 2020.
At the Annual General Meeting held on March 31, the shareholders approved the annual financial statements of the company and final dividend at 55pc or Rs5.50 per share, thereby making total dividend payout at Rs10 per share for the year 2020 including three interim dividends of Rs1.50 per share already paid.
Maple Leaf Cement Factory awards a contract for Punjab brownfield project cemnet.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from cemnet.com Daily Mail and Mail on Sunday newspapers.