The Pakis-tan Stock Exchange (PSX) exhibited on Wednesday a sideways trading pattern for the third consecutive day before closing the session on a slightly higher note. Topline Securities said investors kept waiting for a clear market direction owing to the absence of any significant catalysts. According to Arif Habib Ltd, the KSE-100 index recorded marginal gains, further cementing its posi
The prices of high-speed diesel (HSD) and petrol are estimated to be reduced by about Rs5-19 per litre for the Oct 1-15 period, in what could be the first decrease in two months, mainly because of the rupee’s appreciation. The prices of the two essential fuels were last cut in mid-July when petrol was reduced by Rs9 per litre to Rs253 and diesel by Rs7 per litre to Rs253.50. Sources told Daw
The board of directors of Nishat Mills Ltd in a meeting held on Sept 26 declared a gross profit of Rs21 billion and a net profit of Rs12.1bn for 2022-23. The company also announced a final cash dividend of Rs5 per share, a press release said on Wednesday. IMC shuts plant for 12 days Indus Motor Company (IMC) on Wednesday announced that production activities would remain suspended from Sep
Allied Bank Ltd (ABL) is going to set up an exchange company as a wholly owned subsidiary with a capital of Rs1 billion. The announcement by one of the biggest commercial banks on Wednesday follows a recent circular by the State Bank of Pakistan (SBP) in which the banking regulator initiated “structural reforms” in the exchange companies segment. Earlier, other big banks like United Bank Ltd
Thatta Cement Company Ltd said on Wednesday it wants to buy back up to 15 million of its shares constituting about 15 per cent of the total shareholding at the going rate on the stock market. The size of the transaction should hover around Rs215.5m at the prevailing share price of Rs14.37 apiece. The purpose of the exercise is to hold the reacquired shareholding as treasury shares, which do