7,271
April 29, 2009Having made a high of 7,549, the KSE-100 index got fucked again and closed down at 7,271. The market has lost its upward steam for the moment and will continue to be shaky until all the trouble settles. The result season is practically over now and PTCL and AHSL wil announce their results 2moro.
Dividends : Jahangir Siddiqui & Co. Ltd (JSCL) reported a Rs 4.093 billion loss in the first quarter of 2009 against the profit of Rs 5.920 billion company earned in the same period of the previous year. The earning per share also turned negative to Rs 5.36 in the quarter under review over Rs 7.91 in the corresponding period of last year,…The huge losses incurred by the company have been attributed to provision for impairment against investment in subsidiaries, associates and joint ventures and that came to Rs 3.967 billion in January-March quarter of current calendar year… Daily Times
National Bank of Pakistan (NBP) has posted a net profit of Rs4.2 billion in the first quarter of the current calendar year 2009. This is eight per cent lower than Rs4.6 billion the bank earned in the corresponding quarter last year.This translated into earning per share (EPS) of Rs4.79 in the period under review against Rs5.16 EPS in the first quarter of 2008….The decline was mainly led by an 11 per cent drop in non interest income as the bank received a one-off income tax refund of Rs988 million from tax authorities last year… The News
News : The State Bank of Pakistan (SBP) has granted approval to Jahangir Siddiqui & Company Limited (JSCL) to conduct due diligence for the acquisition of Royal Bank of Scotland (RBS). After receiving the approval from the central bank on Wednesday, JSCL would now conduct an investigation or audit of the potential investment….With the permission for the due diligence the first step of acquisition has been fulfilled and now the interested parties would evaluate market value of RBS. In the final step they would bid for it, depending on the due diligence report… Daily Times
Market Low : 7,246.54 High : 7,549.12
Market Close : 7,271.30 – 158.78 points down
