Bulls regained their control of the Pakistan Stock Exchange on Tuesday as investors celebrated the positive triggers on the economic front. Arif Habib Ltd said investors welcomed the much-needed clarity provided by the monetary policy statement announced a day ago. The index of representative shares opened in the positive range and stayed at an elevated level throughout the trading session.
A European recession looked like a no-brainer just a few weeks ago, but that picture has changed dramatically, and investors have started pouring money into the region’s stocks, currency and bonds. Warmer temperatures and well-filled gas storage facilities mean there’s less concern about power shortages and sky-high energy bills. That, along with China reopening its economy at breakneck speed,
Arif Habib Corporation Ltd is selling its entire shareholding in MCB-Arif Habib Savings and Investments Ltd, a listed joint-venture with MCB Bank that operates pension and mutual funds. The conglomerate told its shareholders on Tuesday it’ll sell its 21.6 million shares, which constitutes 30.09 per cent shareholding in the asset management company, to MCB Bank at Rs30 apiece. The transaction
The share price of Kohat Cement Company Ltd (KCCL) increased on Tuesday by 7.5 per cent, maximum allowed in a day, after it made an announcement about its upcoming share buyback exercise. KCCL told investors on Tuesday it wants to buy back up to five million of its shares from the stock market at the prevailing price for the purpose of cancellation. The move is aimed at improving the earning
Pak Suzuki Motor Company Ltd (PSMCL) on Tuesday raised the prices of various models by Rs115,000-Rs355,000. Earlier, Honda Atlas Cars Ltd (HACL) and Indus Motor Company (IMC) have raised the prices by Rs300,000-Rs550,000 and Rs280,000 to Rs1.2m, respectively. The new price of Alto VX, VXR, VXR AGS and AGS has been enhanced to Rs1.859 million, Rs2.156m, Rs2.310m and Rs2.423m as compared to Rs