kSE-100: Stocks stage sharp recovery, index powers past 48,000 level for 1st time in 2 weeks Index gains 805 points; Mutual Funds were net buyers of whopping $12.69 million
July 9, 2021
Stocks staged sharp recovery at Pakistan Stock Exchange (PSX) on Thursday, breaking a four-day losing streak, as bullish momentum triggered a fresh buying spell.
The benchmark KSE-100 index tracking a strong turnaround, gained 805 points, and crossed the 48,000 mark for the first time in 2-weeks.
On Thursday, the market participants breathed a sigh of relief after NCCPL agreed to include June 2021 in CGT calculation, which would reduce payables as a lot of investors have booked losses in June to net off gains.
KSE-100: Covid concerns, forward inflation risk keeps Investors on sidelines; index dips 82 points
July 7, 2021
Bears continued to rule at the KSE-100 index for the third consecutive session as investors remained on the sidelines- treading cautiously amid resurging Covid -19 cases in the country and rising concerns over forward Inflation.
On Tuesday, the trading activity resumed on a positive note, as the Index traded in the range of 417.75 points or 0.88 percent of previous close, showing an intraday high of 47,662.68 and a low of 47,244.93. The index clocked at 47,346 level by the closing bell after posting an 82 points loss. During the day, the National Command and Operation Centre (NCOC) held a meeting and indicated towards re-imposition of stringent standard operating procedures in view of a consistent uptrend in Covid-19 cases over the past one week. This report, in particular, coupled with higher international oil prices which weighed on inflation expectations, played on in
Kohat Cement plans 10,000 ton/day capacity plant
Business
February 18, 2021
KARACHI: As cement demand has seen an upsurge amid government’s support to the construction industry, another main player planned a new plant to enhance its production capacity by up to 10,000 tons a day by investing an estimated Rs30 billion, it was learnt on Wednesday.
The board of directors of Kohat Cement Company approved setting up of 7,800 - 10,000 tons/day cement manufacturing plant along with 8-10 megawatts of waste heat recovery and 25 megawatts of coal-fired power plant in Khushab, Punjab.
“The estimated cost of the entire project is Rs30 billion, which would be financed through a mix of debt and equity and it is expected that construction and installation of the plant shall be completed in 2 to 2.5 years,” the company said in a filing with the stock exchange.
Kohat Cement to set up Punjab cement plant 17 February 2021
Kohat Cement Co Ltd has announced that its Board of Directors have approved, subject to all regulatory approvals, setting up a 7800-10,000tpd cement manufacturing plant (along with 8-10MW waste heat recovery and 25MW coal-fired power plants), in Khushab, Punjab, Pakistan.
According to a company notification to the Pakistan Stock Exchange (PSX), the management has estimated cost of the project at PKR30bn (US$187.4m), which will be financed through a mix of debt and equity. It is expected that construction and installation of the plant will be completed in 2-2.5 years.