Strepsils announces to appeal CCP’s decision

Competition Commission of Pakistan (CCP) has recently passed an order against Strepsils Comfort for alleged deceptive marketing, which we are now going to appeal.

The discussions with CCP are ongoing since December 2018, during which we have presented numerous third-party researches to substantiate our actions, specifically claims made on the effectiveness of Strepsils Comfort.… Continue

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Habib Metropolitan Bank joins Roshan Digital Account

Habib Metropolitan Bank Limited (HABIBMETRO) has joined the Roshan Digital Account (RDA) initiative of the State Bank of Pakistan. Roshan Digital Accounts provide innovative banking solutions to millions of Non-Resident Pakistanis (NRPs) and Resident Pakistanis (RPs) with declared offshore assets, who need a secure and convenient facility, to undertake banking-payments, fund-transfers and investment activities in Pakistan, remotely, from abroad.… Continue

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Ufone offers lowest roaming rates for its customers

Pakistani telecom operator Ufone introduced revised data roaming charges for its valued customers across different countries of Europe, Africa and Asia. With the aim to make all communication easier and trips more exciting, Ufone now has a one of the lowest one rate roaming charges for all its services.… Continue

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PPAF and Taraqee Foundation plant 80,000 trees in Balochistan

Taraqee Foundation with the support of United Nations Development Program (UNDP Pakistan), Pakistan Poverty Alleviation Fund – PPAF, Forest and Wildlife Department and Government of Balochistan, initiated a mass tree plantation campaign called “Chand Meri Zameen – Phool Mera Watan”. The drive targets multiple cities of Balochistan including Quetta, Pishin and Nushki.… Continue

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PSX index closes in red on Friday

Market saw repeat of selling pressure witnessed yesterday in the second session, which was driven by institutional selling and caused the market closing in red. The second session today saw aggressive selling, particularly in E&P, Banks and O&GMCs sector that brought the Index down by -247pts.… Continue

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The third Chairman WAPDA Amateur Golf Tournament opened

The 3rd Chairman WAPDA Amateur Golf Tournament formally commenced today at Lahore Gymkhana Golf Club, with a tee shot by WAPDA Chairman Lt Gen Muzammil Hussain (Retd) to start the golfing activities of the day. WAPDA MD (Admin), WAPDA Sports Boards officials and a number of golfers were present at the ceremony.… Continue

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Road safety rules and guidelines are not strictly followed: Mian Zahid Hussain

Chairman of National Business Group of FPCCI, President Pakistan Businessmen and Intellectuals Forum and All Karachi Industrial Alliance, and former provincial minister Mian Zahid Hussain said road safety is an ignored subject rules and guidelines are not strictly followed. He said road safety must be followed to ensure the drivers, passengers, pedestrians, and keep the vehicles safe.… Continue

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Facebook book festival held

Urdu Sarai, Pakistan’s leading literary platform run entirely at Facebook, organized the country’s first Facebook Book Festival, with hundreds and thousands of bibliophiles, book lovers, knowledge seekers and over 50 publishers from across the country participated in a virtual book festival held in the second week of February 2021.… Continue

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Zong 4G introduces Pak-China Friendship bundle

Celebrating the friendship that has stood the test of time and grew only stronger through decades, Zong 4G, Pakistan’s top cellular and digital services provider, has introduced the Pak-China Friendship Bundle.

Through the bundle, Zong’s prepaid subscribers will get 525 Minutes for just PKR 250+Tax with a validity of 7 days.… Continue

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PSO earnings likely to grow by 52% YoY during 1HFY21SX

During 1HFY21, we expect the company to report a PAT of PKR 9.8bn (EPS: PKR 20.84), up by 52% YoY compared to PKR 6.4bn (EPS: PKR 13.71) in 1HFY20. This is attributable to volumetric growth of 11% YoY (FO, HSD and MS volumes increased by 26%, 18% and 12% YoY) and inventory gains of PKR ~1,800mn expected in the period under review compared to an inventory loss of PKR 800mn in the same period last year resulting in improvement of gross margins by 117bps YoY to 3.92%.… Continue

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On UN International Day of women and girls in science, Careem celebrates women smashing the Glass Ceiling in Technology

On United Nations (UN) International Day of Women and Girls in Science, Careem embodies its pledge to support women breaking stereotypes in the field of technology by reiterating its commitment towards diversity and inclusion.

Exemplifying the potential women can achieve in tech, Careem has numerous women working as engineers in data, software and development capacity to enhance the offerings of the Careem Super App, while making sure that our customers get perfect and seamless experiences.… Continue

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A review of Amreli Steels Limited

The Management of Amreli Steels Limited held a Corporate Briefing Session today to discuss the financial result and future outlook.

Takeaways

· ASTL posted a profit of PKR 312mn (EPS: PKR 1.05) in 2QFY21, against a loss in SPLY and depicting a jump of 2.8x QoQ.… Continue

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Cherat Cement Co posts good results in 2QFY21

Cherat Cement (CHCC) has posted 2QFY21 NPAT of PKR820mn (EPS: PKR4.22), much better than market expected profits of PKR525mn (EPS: PKR2.70), where higher gross margins were the main deviation. The yoy jump in earnings stemmed from (i) substantial 17ppt yoy rise in gross margins to 26%, and (ii) decline in finance cost by 45% yoy.… Continue

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Sehat Kahani’s launches the first ever Telemedicine Clinic in Loralai, Baluchistan

Sehat Kahani is a telemedicine organization that connects female doctors from their homes to patients in underserved segments of the country using a telemedicine-based solution of e-health clinics and a mobile application that serves masses. Sehat Kahani has served 340,000 patients till date through the network of its 33 e-health clinics across Pakistan, and the mobile application.… Continue

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Pakistan cement stills attractive at PSX index

With the massive surge in local demand and recent increase in North cement prices, we reiterate our Overweight stance on the Pakistan Cement sector. The steep rise in gross margins towards c.31% by FY22f and a 3yr EPS CAGR of c.40% will push the rally further, in experts view.… Continue

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TPL wins ninth awards at the 10th Annual CSR Summit & Awards 2021

TPL, Pakistan’s leading technology driven conglomerate, won nine awards at the ’10th Annual Corporate Social Responsibility Summit & Awards 2021′, held at the Marriot Hotel, Karachi.

The prestigious national award event is the first and only platform in Pakistan registered with the Intellectual Property Organization of Pakistan (IPO-Pakistan).… Continue

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Gas crisis hurting the industrial sector: Mian Zahid Hussain

Chairman of National Business Group of FPCCI, President Pakistan Businessmen and Intellectuals Forum and All Karachi Industrial Alliance, and former provincial minister Mian Zahid Hussain said the gas crisis had broken the back of general industry and export sector.

The industrial sector should be provided gas without delay to resume production and complete export orders within the deadline to save their reputation, he said.… Continue

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TCF student receives scholarship from DSU and free laptop from Tech Saeein

The DHA Suffa University (DHU) and Tech Saeein announced today a joint initiative to partner with the Citizen Foundation (TCF) to support merit-based scholarship and equip the best student with a state-of-the-art laptop personal computer.

Tech Saeein complimented the DHA Suffa University’s “Tuition Fee” Scholarship to the most deserving student on merit to bridge the digital divide.… Continue

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Wateen Telecom collaborates with Huawei to launch Huawei NetEngine 8000 Series

Wateen Telecom Limited, Pakistan’s leading ICT Company, has joined hands with Huawei to provide an all-service, intelligent router platform designed for the 5G and cloud era. The Huawei NetEngine 8000 Series offer the only E2E 400GE routers, redefining intelligent IP networks with ultra-broadband and committed SLA giving customers a unique edge.… Continue

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PSX index continues to slide

· Market made another feat with achieving trading volume of 1 billion shares in the regular market, whereby WTL contributed the most with 369M shares, however, other stocks also maintained the average trading volume of ~600M shares. Profit booking continues unabated, particularly in E&P sector that regressed today despite stable international crude oil prices.… Continue

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