11,542
February 22, 2007
The Karachi Stock market made a high of 11,625 and closed up at 11,542. The market seems to be stagnant at these levels and needs to breakout either way. OGDC has closed below its 30 DMA at 122. PTCL’s result was below expectations. 2moro’s Friday show could see a sellout in lieu of the upcoming CLN issue or some upside based on the results due 2moro and in anticipation of those due on Monday. A close above 11,635 would pave the way for 11,750.
Dividends : Pakistan Telecommunication Co.(PTCL) : EPS : Rs.164
Pakistan State Oil (PSO) : 60% Cash EPS : Rs.6.62
Callmate Telips (CTTL) : EPS : Rs.9.23
Mari Gas Company : 22% Cash EPS: Rs.8.72
BOC Pakistan : 120% Cash EPS : Rs.17.96
MCB, Sui North and Soneri bank are due to announce their results 2moro.
Pakistan Telecommunication Co. the nation’s biggest telephone service provider, said second-quarter profit fell 40 percent after the company lost business to rivals, including Callmate Telips Telecom Ltd. and Pakistan Mobile
Communications Ltd., or Mobilink. Net income fell to 3.2 billion rupees ($53 million), or 0.63 rupees a share, in the three months ended Dec. 31, from 5.3 billion rupees, or 1.04 rupees, a year earlier, the Islamabad- based company said in a statement today. Revenue fell to 15.88 billion rupees from 17.23 billion rupees. Source : Bloomberg
Pakistan State Oil Ltd. the nation’s biggest fuel retailer, said second-quarter profit declined 36 percent as a drop in prices eroded the value of its stockpile of refined products. Net income fell to 569 million rupees ($9.4million),or 3.32 rupees a share, in the three months ended Dec. 31, from 884 million rupees, or 5.16 rupees, a year earlier,..Sales rose 19 percent to 82.9 billion rupees from 69.9 billion rupees a year earlier. Pakistan State Oil will pay a dividend of 6 rupees a share. Source : Bloomberg
News : Emirates Telecom Corp. (Etisalat) the largest telecommunications company in the United Arab Emirates, will spend $500 million on expanding Pakistan’s mobile phone network run by its unit Pakistan Telecommunication Co."In mobile, there is already expansion now for 10 million lines and additional capacity will be added later on,'’ Chairman
Mohammad Hasan Omran said in an interview in Pakistan’s capitalIslamabad yesterday."For fixed-line, there is a lot of
potential also. We are now working on expanding that.'’ … Pakistan Telecom, which owns the country’s second-biggest
mobile phone service provider known as Ufone, with more than 10 million customers, is competing with five other rivals including the biggest called Mobilink, which is a unit of Egypt’s Orascom Telecom Holding SAE, in a market that the government says is adding 1 million mobile phone users every month. Half of Pakistan’s 160 million people are expected to use telephones by 2009, up from 23 percent in March last year and 4.3 percent in 2003… Source : Bloomberg
Upper Cap : Callmate Telips
Market Low : 11,510.54 High : 11,625.64
Market Close : 11,542.99 — 22.37 points up
