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Top 5 news affecting the Pakistan stock market this week

General Tyres announce the profit of Rs 328m

General Tyres and Rubber manufacturer is a Karachi based company. It was established in 1963 with the total capacity of only 120,000 tyres per annum. But now it is one of the profitable companies in Pakistan, especially in the tyre manufacturing sector.

The company has recently announced the profit of Rs 328 Million, second quarter ended December 31. The profit in the same period last year was Rs 253 million. The Earning per share increased to 5.49 as compared to EPS Rs 4.24 in the same period last year. So, investors should hold their position in General Tyres.

 

Hyunadi to start assemble cars in Pakistan

Hyundai Motors which is one of the prominent car manufacturers in the world, Hyundai will start this joint venture with the Nishat Mills. The Nishat Mills which is a subsidiary of the Nishat Group filed a statement of the deal at the stock exchange. This is good news for the Nishat Group investors as the group continues to search new ventures.

No doubt, it is a good news for the Nishat Group investors but the question is, is it the time to shake up the Japanese-Dominated car market? Will Hyundai addition loosen the grip of the Toyota and the Honda? The time will tell but the investors need to keep an eye on what’s happening in the car manufacturing sector in Pakistan.

Engro Foods Profit Drop by 25%

Time to look at the net profit announcement of the Engro Foods! The company profit drops by 25% but still, it was profit.  The company paid a cash dividend of Rs.10 per share. It also includes a onetime special dividend of Rs 9 per share. The market analyst said, “The Company earning was low but the onetime special dividend came as positive surprise”

Is it time to leave Engro Foods as investors? Well, the company profit dropped, still the analyst are forecasting the company will outperform the market. The investors should hold their positions in Engro Foods.

Daewoo To become First Bus Service listing at stock Exchange

Do you want to diversify your investment? Then we have good news as Daewoo Pakistan will list itself on the stock exchange.

The Daewoo Express’s 9.4% stake is bought by the Swedish asset manager Tundra Fonder. This is the third Pakistani company which receives direct investment from Stockholm based fund. The company will list in the first half of 2017.

 

 

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About Emaad Qureshi