12,235- Higher highs & Lower Lows
April 27, 2007
The Karachi Stock market made a high of 12,288 and then whittled down to close up at 12,235. While the market looks raring to go up the CFS limit issues are there to keep the upside at bay.The market closed on its resistance level and its peak of 12,337 is the next upward resistance.
Dividends : MCB : 25% Cash. EPS: Rs.5.93
Bank of Punjab : EPS: Rs.2.03
Fauji Fertilizer : 25% Cash. EPS: Rs.2.62
Arif Habib Securities : 200% Bonus. EPS: Rs.25.07
Indus Motor EPS: Rs.24.53
Fauji Fertilizer Ltd., Pakistan’s largest urea-maker, reported a 4.7 percent increase in first-quarter profit because of higher income from an associated company. Net income increased to 1.29 billion rupees ($21 million), or 2.62 rupees a share, in the three months ended March 31 from 1.23 billion rupees, or 2.5 rupees a share … Sorce : Bloomberg
Bank of Punjab Ltd., Pakistan’s biggest regional financial-services company, said first-quarter profit rose 33 percent because of higher interest rates. Net income rose to 780.7 million rupees ($13 million), or 2.03 rupees a share, in the three months ended March 31, from 584.9 million rupees, or 1.54 rupees, a year earlier,..Revenue rose to 1.6 billion rupees, from 1.2 billion rupees a year ago..Income from fees and dividends increased to 640 million rupees from 381 million rupees a year ago…The bank’s deposits rose to 165.5 billion rupees as on March
31, from 137.7 billion rupees on Dec. 31, the company said in its statement. Loans rose to 106.6 billion rupees, from 101.3 billion rupees in the same period… Source : Bloomberg
MCB Bank Ltd., Pakistan’s second- biggest lender by market value, said first-quarter profit increased 24 percent because of higher interest rates. Net income rose to 3.7 billion rupees ($61 million), or 5.93 rupees a share, in the three months ended March 31, from 3 billion rupees, or 4.78 rupees, a year earlier,.. Revenue rose to 8.92 billion rupees, from 7.15 billion rupees a year ago. Source : Bloomberg
Crescent Commercial Bank Ltd. (CCBL),National Bank of Pakistan (NBP) and Pakistan Oilfields Ltd (POL) will have theirborad meetings 2moro and the results will be out on Monday.
Upper Caps : Arif Habib Securities + FFBL
Market Low : 12,197.86 High : 12,288.70
Market Close : 12,235.19 — 23.32 points up
