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Wednesday, September 23, 2020
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MFFL approved to increase the Authorized Capital to Rs. 400 Mn

In a latest notification to the PSX, the Board of Directors of Mitchells Fruit Farms Limited (PSX:MFFL) approve to increase in Authorized Capital of the company from Rs 200 mn to Rs 400 mn.  

MTL authorized capital likely to increase to PKR 750 Mn

Millat Tractors Limited in its meeting held on September 16, 2020, has recommended an increase in the authorized capital of the company from Rs. 500 million to Rs. 750 million for their approval in the upcoming Annual General Meeting to be held on October 26, 2020.  

Monetary Policy: Interest Rate remains unchanged at 7%

The State Bank of Pakistan (SBP) left the interest rate to be unchanged at 7% for the next two months. The decision taken by the SBP Monetary Policy Committee (MPC) was largely in line with market expectations, as the policy remains an effective tool available with the central bank to control inflation      

Avanceon signed contract worth Rs. 100 Mn with a major supplier of Natural Gas

Avanceon Limited and its subsidiary Avanceon FZE signed Supply, Installation, Maintenance and Upgradation Contracts worth over 100 Million PKR with a major supplier of natural gas in Pakistan. Avanceon will be providing a wide range of services to install, maintain and upgrade critical systems at multiple gas fields. This contract execution gives a pathway for positive impact on group’s business...

Corporate Result: PIBTL losses turned into Profit in FY20

In a latest notification to the PSX, Pakistan International Bulk Terminal (PSX:PIBTL) has announced the financial result for the year ended June 30, 2020 in which company announced Profit After Tax (PAT) of Rs. 1.14 Bn as compared to the Losses of Rs. 2.40 Bn last year. The company also announced the EPS of Rs. 0.64, whereas the company announced...

Corporate Result: KAPCO earnings surged by 80% in FY20

In a latest notification to the Pakistan Stock Exchange Kot Addu Power Company Limited (PSX:KAPCO) has announced the Financial result for the year ended June 30, 2020, in which the company witnessed Profit After Tax (PAT) of Rs. 23.6 Bn, along with the EPS of Rs. 26.83 The company Earnings witnessed an increase of 80% YoY basis due to the...

Ithmaar Holding to remain Faysal Bank’s beneficial owner

In a latest notification to the Pakistan Stock Exchange (PSX), Faysal Bank Limited (PSX: FABL) announced that Ithmaar Holding, i.e. the parent of Ithmaar Bank, has entered into initial talks with regards to exploring a potential acquisition by the Bank of Bahrain and Kuwait (BBK) of the Bahrain operations of Ithmaar Bank. We would also like to notify that...

LSMI output in July increased by 5.02% YoY basis

The LSMI output increased by 5.02% for July, 2020 compared to July, 2019 and 9.54% if compared to June 2020. Month-wise trend of QIM from July, 2018 to July, 2020 is given in the following graph: The production in July 2020 as compared to July 2019 has increased in Food, Beverages & Tobacco, Coke & Petroleum Products, Pharmaceuticals and Non-Metallic Mineral...

Remittances increased by 31% for first two months of Fiscal Year

Prime Minister Imran Khan on Monday took to twitter that the remittances received by the country have increased by 31% during the first two months of the fiscal year as compared to the same period last year. Praising overseas Pakistanis, he said remittances of $2,095 Mn were received in August, which is an increase of 24.4% YoY basis. Earlier in July,...

Weekly SPI recorded an increase of 0.37%

According to data released by the Pakistan Bureau of Statistics (PBS), the Weekly Sensitive Price Indicator (SPI) for the Combined Group increased by 0.37% during the week ended Sep 10, 2020. whereas, theYoY SPI increased by 9.04%.