Owner: Karachi Stock Market Blog URL:http://kseindex.blogspot.com Join Date: Sun, 12 Aug 2007 18:56:18 -0500 Rating:0 Site Description: Daily Market Commentary on the Karachi Stock Market, news updates,trading tips, earnings forecast, company reports and other developments. This blog takes you through the world of The Karachi Stock Exchange. Site statistics:Click here
Day Trading Technicals for Monday 2007-08-12 18:05:00 After opening in the positive zone, the KSE-100 index dropped further. The benchmark index shed 166.45 points to close at 13,012.96.If the market trades up, the resistance levels are :Resistance 1 : 13,080 - 13,100Resistance 2 : 13,150 - 13,170If the market trades in the red, the support levels are :Support 1 : 12,960 - 12,980Support 2 : 12,880 - 12,900Support 3 : 12,820 - 12,840Disclaimer : Trading
is risky. The above is not a solicitation to buy or sell or engage in any sort of trading activity. It should be used by investors or traders who are aware of the risks associated with day trading stocks. We will not be held responsible for any losses. The above advice is our own opinion. Trading is more of a highly skilled art so no information or advice guarantees profits. Read more:Monday
, Day Trading
13,012.96 - The Index Drops Further After A Positive Start 2007-08-11 07:22:00 After opening in the positive zone, the KSE-100 index dropped further on Friday's trading. The trend remained volatile. The benchmark index hit a high of 13,359.52 after opening and then dropped to a low of 12,964.64. It managed to close slightly above the 13,000 psychological level at 13,012.96. The index shed 166.45 points and 213 million shares were traded. The free-float KSE-30 shed 240.70 points to close at 15,608.01.Top 5 By Volume :Oil and Gas Dev. 116.25-1.75 13,406,200 Askari Bank 96.55-0.6011,512,000 Arif Habib Sec. 127.900.90 10,405,600 TRG Pakistan 12.90-0.25 9,441,000 B.O.Punjab 96.70-4.90 8,200,100 Pakistan Petroleum was on the move on Friday's trading. The natural gas company announced corporate results and although the the results were slightly below expectations, there was around a 25% increase in the full year net profits. The company also announced a dividend of Rs. 6.50 per share and a surprise 10% bonus. The stock gained Rs. 2.80 to close at Rs. 251.30 and hit an Read more:Index
, Drops
, Further
, Positive
, Start
CFS Upper Limit Removal 2007-08-11 06:13:00 Removal of CFS upper limit: SECP spells out conditions AHMED MALIKKARACHI ( 2007-08-11 05:31:11 ) :The Securities and Exchange Commission of Pakistan (SECP) has announced to lift the upper limit of Rs 55 billion of CFS for all scrips, subject to certain conditions. The regulator has divided the CFS-eligible scrips into two categories, A and B, and prescribed new trading and financing regulations."The SECP agrees to the proposal of Karachi Stock Exchange to lift the existing monetary financing limit of Rs 55 billion on CFS. However, such removal of limit is subject to implementation of the revised eligibility criteria and conditions", the regulator, in a letter sent to Karachi Stock Exchange on Friday, said.The SECP announced the eligibility criteria for 43 scrips (category A) eligible in CFS market and declared that the companies that have average daily impact cost of less that one percent, based on daily impact cost on an order size of Rs 500,000 during the review period, traded on mo Read more:Upper
, Limit
, Removal
CFS Category A Companies 2007-08-11 06:10:00 Pak PetroleumP.S.O.National BankLucky CementEngro ChemicalBank of PunjabMCB BankOGDCPak OilfieldsD. G. Khan CementAskari BankNishat MillsFauji FertiliserFauji Fert Bin QasimHub PowerAdamjee InsuranceArif Habib SecuritiesAllied Bank LtdBank Al-FalahPioneer CementP.T.C.L. AMaple Leaf CementBank Al-HabibSaudi Pak BankSui North GasFaysal BankBosicor PakistanKot Addu PowerAzgard NineDewan CementWorldCall TelecomFauji CementStand. Chart BankSui South GasHabib Metro BankTelecardSoneri BankJS Bank LtdCherat CementNIB BankBank Of KhyberAl-Abbas CementMeezan Bank Read more:Category
, Companies
Business News 2007-08-11 05:38:00 Continuity in policies must for economic progress: PM Prime Minister Shaukat Aziz has said the present government ensured continuity in the country's economic polices and this achievement was being internationally acknowledged and endorsed.Aftab Manzoor to take charge on August 13Senior banker Muhammad Aftab Manzoor would take charge as President of the Allied Bank Limited (ABL) from Monday, August 13. ABL Chairman Naeem Mukhtar told Business
Recorder after the meeting of the Board of Directors of the bank here on Friday that the Board had accorded approval of his appointment.Ministry to redraft Gwadar EPZ packageThe Ministry of Industries and Production is to re-draft special incentives for the investors interested in setting up industrial units at Export Processing Zone (EPZ) at Gwadar, official sources told Business Recorder here on Friday. Prime Minister asks KESC to fulfil commitmentPrime Minister Shaukat Aziz has said that KESC must come up to its commitment of contact for power
Business News 2007-08-11 05:25:00 Forex reserves fall to $15.779 bln: SBPForeign exchange reserves fell by a marginal $13 million to $15.779 billion in the week ended Aug. 4, the State Bank of Pakistan (SBP) said on Friday.PIA to lease seven Airbus aircraftPakistan International Airlines (PIA) has agreed to lease seven new Airbus A320-200 aircraft from Kuwait's Aviation Lease and Finance Co. (ALAFCO), the national flag carrier said on Friday.Pakistan Petroleum says 06/07 profit up 25 percentPakistan Petroleum limited (PPL) on Friday reported a 25.15 percent jump in full-year net profit, fuelled by higher production and rising oil and natural gas prices.Telecom sector attract $4 bln investment over next five years Pakistan's telecom sector will attract $4 billion investment over next five years due to liberal policies introduced by the government.Toshiba launches Notebook Computers The Launching Ceremony of Toshiba Notebooks will be held on August 11, 2007 at 2:00 pm at Conference room, 2nd floor at Karachi Expo Cente Read more:Business
Corporate Results 2007-08-10 08:47:00 CompanyTimeYear ended /Half Year endedDividend / Bonus / RightProfit / (Loss) Before Taxation (Rs. In Million)Profit / (Loss) After Taxation (Rs. In Million)EPS (Rs.)Annual General Meeting / E.O.G.M.Closure Of Share Transfer BooksAug 10, 2007 Pak Petroleum16:19:2430/06/2OO7(YR)65%(F) (D)10% (B) 24,356.77016,767.77424.4530/10/2OO720/10/2007 - 30/10/2007 Allied Bank Ltd16:17:2130/06/2OO7(HYR)15%(i) (D) 4,123.1942,751.5105.11-01/09/2007 - 07/09/2007 Pak Tobacco09:59:3930/06/2OO7(HYR)20%(i) (D) 2,203.7241,431.5945.60-12/09/2007 - 18/09/2007 K.S.B.Pumps09:59:1330/06/2OO7(HYR)-126.32384.9237.08-- Meezan Bal.Fund09:57:2930/06/2OO7(YR)16%(F) (D) 324.962324.9622.71-10/09/2007 - 17/09/2007 Earnings Per Share :Pakistan Petroleum 24.45Allied Bank 5.11Pakistan Tobacco 5.60KSB Pumps 7.08Meezan Balanced Fund 2.71
Day Trading Technicals for Friday 2007-08-09 15:34:00 The KSE-100 index took a massive pounding on Thursday's trading. The index shed 382.48 points to close at 13,181.94.If the market trades up, the resistance levels are :Resistance 1 : 13,245 - 13,265Resistance 2 : 13,315 - 13,335If the market trades in the red, the support levels are :Support 1 : 13,125 - 13,145Support 2 : 13,045 - 13,065Support 3 : 12,985 - 13,005Disclaimer : Trading
is risky. The above is not a solicitation to buy or sell or engage in any sort of trading activity. It should be used by investors or traders who are aware of the risks associated with day trading stocks. We will not be held responsible for any losses. The above advice is our own opinion. Trading is more of a highly skilled art so no information or advice guarantees profits. Read more:Day Trading
, Friday
13,181.94 - Massive Plunge! 2007-08-09 15:02:00 The benchmark KSE-100 took a big pounding on Thursday's trade on the back of speculative TV reports that emergency rule might be declared. The index opened 499 points in the red and with initial volatility and massive sell pressure went on to hit a low of 12,947.55. At this point a huge number of stocks traded at their lower circuit breakers of 5%. Soon officials moved to quash the news or rumors and the index started gaining strength. The market recovered considerably from its intra-day low of 616 points in the red to close at 13,181.94. The index shed 382.48 points. 262.5 million shares were traded. The free-float KSE-30 shed 432.60 points to close at 15,848.71 after hitting an intra-day low of 15,502.74.Top 5 by volume :Askari Bank 97.15-1.65 15,174,100 Oil and Gas Dev. 118.00-2.70 15,163,800 Arif Habib Sec. 127.00-4.40 13,662,700 TRG Pakistan 13.15 -0.95 12,564,000 National Bank 246.10-6.90 12,490,700 The benchmark KSE-100 index has increased around 35% to a record this year of ab
Business News 2007-08-09 12:21:00 Nestle Pakistan aims to become Rs 100bn company by year 2014Nestle Pakistan is geared to expand its presence in the market in order to become Rs 100 billion company by 2014,’ said its Managing Director Roland Decorvet.British trade deficit hits lowest level since 2005Britain's trade in goods deficit narrowed in June to reach the lowest level in 20 months and the country's oil balance showed a surplus for the first time since April 2006, official data showed Thursday.Rs168 bln agriculture loans issued during the last FYThe Banks have issued agricultural loans worth Rs 168 billion during the last financial year, private TV channel reported. KESC to buy power plants from RussiaKarachi Electric Supply Corporation (KESC) has decided to purchase ten 100-MW power plants worth billions of rupees from Russia to generate an additional 1000-MW supply to overcome a serious loadshedding crisis in the city, sources told Business
Recorder on Wednesday. Assets at Rs 4.2828 trillion cross two-year
Corporate Results 2007-08-09 09:23:00 CompanyTimeYear ended /Half Year endedDividend / Bonus / RightProfit / (Loss) Before Taxation (Rs. In Million)Profit / (Loss) After Taxation (Rs. In Million)EPS (Rs.)Annual General Meeting / E.O.G.M.Closure Of Share Transfer BooksAug 09, 2007 Golden Arrow14:15:2030/06/2OO7(YR)15%(F) (D)10% (B) 416.435416.4353.39-- Earnings Per Share 3.39
Day Trading Technicals for Thursday 2007-08-08 17:12:00 The KSE-100 index changed course and the bulls emerged on Wednesday's trading. The index gained 130.74 points to close at 13,564.55.If the market trades up, the resistance levels are :Resistance 1 : 13,625 - 13,645Resistance 2 : 13,695 - 13,715If the market trades in the red, the support levels are :Support 1 : 13,505 - 13,525Support 2 : 13,425 - 13,445Support 3 : 13,365 - 13,385Disclaimer : Trading
is risky. The above is not a solicitation to buy or sell or engage in any sort of trading activity. It should be used by investors or traders who are aware of the risks associated with day trading stocks. We will not be held responsible for any losses. The above advice is our own opinion. Trading is more of a highly skilled art so no information or advice guarantees profits. Read more:Day Trading
, Thursday
13,564.55 - The Bulls Emerge 2007-08-08 16:52:00 The bulls ruled over the Karachi Stock Exchange today. After late buying yesterday, the KSE-100 continued the trend and the index opened in the black today. After range-bound trading during the first half of the trading session, the market broke out and headed higher. The benchmark index gained 130.74 points to close at 13,564.55. 176 .8 million shares were traded. The free-float KSE-30 gained 213.96 points to close at 16,281.31.Top 5 by volume :Askari Bank 98.803.00 16,270,600 TRG Pakistan 14.000.20 11,266,500 Bosicor Pakistan 20.450.35 9,447,500 JS Bank Ltd. 18.050.25 9,337,500 Arif Habib Sec. 131.406.25 8,424,400 Most of the companies traded strong today. In the top 30 most active companies, only 2 companies closed in the red. Habib Bank's provisional trading resumed today. The oversubscription of Habib Bank pushed most of the banking sector stocks in the black. Askari Bank, JS Bank, MCB Bank, National Bank, Bank Al-Falah, PICIC and Bank of Punjab all headed upward. The telecom sec
Business News 2007-08-08 16:36:00 Govt committed to facilitate investors: Musharraf President General Pervez Musharraf on Wednesday said the government was committed to facilitating all investors and would ensure the provision of every possible assistance and incentives to them.Europe has huge potential for Pakistani businessmenEurope is the most lucrative business destination which has a huge potential for Pakistani businessmen. SAMSUNG to be star attraction at ITCN Asia 2007 Samsung, the World’s No. 1 manufacturer of Semiconductors and the Worldwide Digital Information Technology Leader is sponsoring ITCN 2007 being held in the metropolitan city Karachi from 9th-11th of August ’07.Habib Bank IPO oversubscribed by 53 pctA share offering by Habib Bank Ltd. (HBL), Pakistan's second largest bank, has been oversubscribed by over 50 percent, the adviser to the country's largest initial public offering (IPO) said on Wednesday.Cotton prices touch new peakRaw cotton prices have touched a new peak of Rs 3,350 per maund o Read more:Business
Carlos Slim, the richest man in the world 2007-08-08 11:25:00 Carlos Slim, the richest man in the worldThe son of a Mexico City shopkeeper has built a staggering $59 billion fortune. Fortune's Stephanie Mehta tells the inside story of how he made it to the top. By Stephanie N. Mehta, Fortune senior writerAugust 6 2007: 2:53 PM EDT(Fortune Magazine) -- I remember there was a time when the value of his enterprises was very low," recalls Patrick, the youngest son of Carlos Slim Helú. It was the early 1980s, and Mexico was in the depths of a massive financial crisis. Periodically the elder Slim would round up his three teenage sons for an economics lesson. Sitting them down in the living room of the family home, Slim would produce a single handwritten list. One line would show, for instance, how a Mexican insurance company was selling for far less than a similar American insurer. Another would show that compared with European candy or cigarette makers, Mexican manufacturers were drastically undervalued. "It was a very, very long time ago," says Pat Read more:Carlos
Business News 2007-08-07 16:40:00 PSO announces 110% final dividendPakistan State Oil (PSO) on Tuesday announced a final cash dividend of Rs11 per-share after posting a net profit of Rs4.7 billion for the period ended June 2007.FPCCI welcomes approval of draft textile policyThe Federation of Pakistan Chambers of Commerce and Industry (FPCCI) here on Tuesday welcomed the approval of draft textile policy proposed by the Textile Ministry.Gwader Port on Rs 5 noteGovernor State Bank of Pakistan (SBP), Dr. Shamshad Akhtar Tuesday said the new Rs 5 currency note would bear the image of Gwader deep sea port. Pak-Brunei JSG to explore possibilities of FTAThe Joint Study Group (JSG) of Pakistan and Brunei is holding second round meeting at Brunei Darussalam to explore possibilities of Free Trade Agreement (FTA) between the two countries. Pak-China cooperation to boost mineral sector: ministerPak-China bilateral cooperation would help explore vast opportunities of collaboration in mineral sector between the two countries. State B Read more:Business
Business News 2007-08-07 16:37:00 Deregulation in telecom sector created enormous growth: PM Prime Minister Shaukat Aziz has said that deregulation and reforms in the telecom sector accompanied by economic growth and high disposable income has created enormous growth and demand for telecom services in Pakistan.Humayun discusses advancing Pakistan-US trade tiesCommerce Minister Humayun Akhtar Khan have discussed advancing Pakistan- US trade and economic relations with senior Bush Administration officials.Seventh ITCN Asia begins Aug.09The 7th ITCN Asia Int`l Exhibition & Conference, the biggest and first ever UFI approved IT & Telecom event of Pakistan, is to commence from 9 August 2007 at Karachi Expo Centre and would end on 11 August 2007. Read more:Business
Day Trading Technicals for Wednesday 2007-08-07 06:47:00 The KSE-100 index dropped on Tuesday's trading. The index shed 76.73 points to close at 13,433.86. The index hit a low of 13,221.67 during intra-day trading.If the market trades up, the resistance levels are :Resistance 1 : 13,495 - 13,515Resistance 2 : 13,565 - 13,585If the market trades in the red, the support levels are :Support 1 : 13,375 - 13,395Support 2 : 13,295 - 13,315Support 3 : 13,235 - 13,255Disclaimer : Trading
is risky. The above is not a solicitation to buy or sell or engage in any sort of trading activity. It should be used by investors or traders who are aware of the risks associated with day trading stocks. We will not be held responsible for any losses. The above advice is our own opinion. Trading is more of a highly skilled art so no information or advice guarantees profits. Read more:Day Trading
, Wednesday
13,433.86 - The Market Drops And Then Support Seen 2007-08-07 06:18:00 It was a volatile trend at the Karachi Stock Exchange today. The market opened in the black and then after initial volatility, the KSE-100 dropped deep in the red. After hitting a low of 13,221.67, the index got some support which pushed it back above the 13,400 level. The index managed to close 76.73 points in the red at 13,433.86. 237 million shares were traded. The free-float KSE-30 shed 110.45 points to close at 16,067.35.Top 5 by volume :TRG Pakistan 13.80 0.40 24,278,000 Bosicor Pakistan 20.00 -0.60 13,046,000 WorldCall Telecom 20.200.55 11,350,000 Lucky Cement 124.001.25 10,154,100 Fauji Cement 21.25-0.45 10,142,500 Habib Bank's provisional trading remained suspended today. Pakistan Petroleum took a considerable hit today. The stock closed down Rs. 3.05 at Rs. 258.40. The stock hit a low of Rs. 252.00 in intra-day trading. There was a downward revision of wellhead gas prices. Prices of Sui and Kandhkot, which contribute 47% to the total sales revenue of PPL, decreased from Rs. Read more:Drops
, Market
, Support
Corporate Results 2007-08-07 06:11:00 CompanyTimeYear ended /Half Year endedDividend / Bonus / RightProfit / (Loss) Before Taxation (Rs. In Million)Profit / (Loss) After Taxation (Rs. In Million)EPS (Rs.)Annual General Meeting / E.O.G.M.Closure Of Share Transfer BooksAug 07, 2007 P.S.O.13:35:0030/06/2OO7(YR)110%(F) (D) 7,121.9804,689.79827.3418/09/2OO713/09/2007 - 18/09/2007 Wyeth Pak11:43:3130/06/2OO7(HYR)30%(i) (D) 187.985121.92885.77-29/08/2007 - 04/09/2007 Earnings Per Share :PSO 27.34Wyeth Pak 85.77
Day Trading Technicals for Tuesday 2007-08-06 15:49:00 The KSE-100 index dropped on Monday's trading. The index plunged 252.57 points to close at 13,510.59. If the market trades up, the resistance levels are :Resistance 1 : 13,570 - 13,590Resistance 2 : 13,640 - 13,660If the market trades in the red, the support levels are :Support 1 : 13,450 - 13,470Support 2 : 13,370 - 13,390Support 3 : 13,310 - 13,330Disclaimer : Trading
is risky. The above is not a solicitation to buy or sell or engage in any sort of trading activity. It should be used by investors or traders who are aware of the risks associated with day trading stocks. We will not be held responsible for any losses. The above advice is our own opinion. Trading is more of a highly skilled art so no information or advice guarantees profits. Read more:Day Trading
, Tuesday
13,510.59 - The Market Drops 2007-08-06 15:04:00 The bears dominated the Karachi Stock Exchange today. The KSE-100 index plunged 252.57 points to close at 13,510.59. After taking a brief start in the black, the market fell deep in the red and continued its downward movement. The volumes also dropped to 174.5 million shares. The KSE-30 dropped 389.20 points to close at 16,177.80. Top 5 by volume : Fauji Fert Bin 46.35 -1.1514,567,500 Bosicor Pakistan 20.60-0.70 12,356,000 Lucky Cement 122.75-3.75 9,964,600 Hub Power 34.40-1.80 8,080,000 J.O.V.and CO. 221.152.85 7,213,000 The issue of Habib Bank's financial result was at the forefront today. A restriction was placed on the provisional trading of Habib Bank's shares. In the top 30 most active stocks today, only 3 stocks closed in the positive zone. Pakistan Oilfields also dropped today as it shed Rs. 7.25 to close at Rs. 318.00. International Oil prices dipped today and POL is the most sensitive stock to international oil prices. Read more:Drops
, Market
Capital Market Reforms, Textile Policy, The Competitive Edge 2007-08-06 15:00:00 Capital market reforms to continue: SECPThe Chairman, Securities and Exchange Commission of Pakistan (SECP), Razi-ur-Rahman Khan said here on Monday that the SECP will continue its reforms process to improve the existing risks mitigation standards, introduce specialized market monitoring techniques and to ensure transparency and fair-trade practices in the market. New textile policy to help increase export of products: PMPrime Minister Shaukat Aziz on Monday said that the proposed textile policy would help increase export of textile products, improve competitiveness and generate employment in the industry.BoI, CSF to sign MoU for Pak competitive edgeThe Board of Investment (BoI) and the Competitive
ness Support Fund (CSF) will sign a memorandum of understanding (MoU) on August 16 to support the structured economic reform process for improving investment climate and enhancing competitiveness of Pakistan's economy. Read more:Market
, Reforms
, Policy
Corporate Earnings 2007-08-06 12:18:00 CompanyTimeYear ended /Half Year endedDividend / Bonus / RightProfit / (Loss) Before Taxation (Rs. In Million)Profit / (Loss) After Taxation (Rs. In Million)EPS (Rs.)Annual General Meeting / E.O.G.M.Closure Of Share Transfer BooksAug 06, 2007 Shell Pakistan13:47:0030/06/2OO7(YR)80%(F) (D) 378.736706.65912.9019/09/2OO705/09/2007 - 19/09/2007Earnings
Per Share 12.90
Day Trading Technicals for Thursday 2007-08-15 22:08:00 The KSE-100 index closed up 38.68 points at 12,787.30 on Wednesday's trading. The index hit a low of 12,623.74.If the market trades up, the resistance levels are :Resistance 1 : 12,860 - 12,880 Resistance 2 : 12,930 - 12,950If the market trades in the red, the support levels are :Support 1 : 12,740 - 12,760 Support 2 : 12,660 - 12,680 Support 3 : 12,600 - 12,620Disclaimer : Trading
is risky. The above is not a solicitation to buy or sell or engage in any sort of trading activity. It should be used by investors or traders who are aware of the risks associated with day trading stocks. We will not be held responsible for any losses. The above advice is our own opinion. Trading is more of a highly skilled art so no information or advice guarantees profits. Read more:Thursday
, Day Trading
Day Trading Technicals for Wednesday 2007-08-14 17:48:00 The KSE-100 index dropped further on Monday's trading. The benchmark index shed 262.58 points to close at 12,750.38.If the market trades up, the resistance levels are :Resistance 1 : 12,820 - 12,840Resistance 2 : 12,890 - 12,910If the market trades in the red, the support levels are :Support 1 : 12,700 - 12,720Support 2 : 12,620 - 12,640Support 3 : 12,560 - 12,580Disclaimer : Trading
is risky. The above is not a solicitation to buy or sell or engage in any sort of trading activity. It should be used by investors or traders who are aware of the risks associated with day trading stocks. We will not be held responsible for any losses. The above advice is our own opinion. Trading is more of a highly skilled art so no information or advice guarantees profits. Read more:Day Trading
, Wednesday
Independence Day - Pakistan Celebrates 60 Years 2007-08-14 11:31:00 Celebrations and ceremonies mark Pakistan
's independence Pakistan today marked the 60th anniversary of its creation and independence from Britain with a series of celebrations and military ceremonies.At dawn, a 31-gun salute in the capital, Islamabad, marked the start of festivities to commemorate August 14 1947, the day colonial rule ended.In an occasion filled with military pomp, cadets changed the guard at the domed mausoleum of Mohammed Ali Jinnah, Pakistan's founder, in Karachi. Read MorePakistan Celebrates 60 Years
Of StatehoodCountry Split From British-Ruled India In 1947; Facing New Challenges With Optimism Pakistanis filled the streets Tuesday to celebrate the 60th anniversary of their country's independence. The country was a part of a unified India, under British rule, until 1947. Now, the south Asian country is full of bold expectations for a prosperous future, but faces daunting security challenges. Pakistan's President Gen. Pervez Musharraf set the pace for a day o Read more:Independence
, Independence Day
Omantel set to acquire 65pc stake in Worldcall 2007-08-14 00:37:00 Omantel set to acquire 65pc stake in Worldcall DUBAI: Oman Telecommuni-cations (Omantel) expects to conclude a deal to buy 65 per cent of Pakistan's Worldcall by the end of the month, its chief executive said yesterday.The deal, which would allow Omantel to gain a foothold in the world's third-fastest growing telecom market, would be worth 9.43 billion rupees ($156 million) at the stock's closing price of 19.3 rupees on Friday.Omantel initially expected to conclude the purchase of a majority stake in the wireless local loop operator in June. It has never given the size of the stake or said how much it would pay."It is a 65pc stake," Chief Executive Mohammed Al Wohaibi said. Read More
KSE-30 Index Recomposition 2007-08-13 21:08:00 The 5 new companies included in the index :Javed Omar Vohra and Company (JOVC)Allied Bank Limited (ABL)Habib Metropolitan Bank (HMB)Soneri Bank (SNBL)Pak Suzuki Motor Company (PSMC)The 5 replaced companies :PICIC Commercial Bank (PICB)Fauji Cement Company (FCCL)Shell Pakistan (SHEL)Sui Southern Gas Company (SSGC)Attock Petroleum (APL) Read more:Index
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