Faisalabad: Interloop Limited (ILP), a leading textile manufacturer, has maintained its Buy rating, though with a revised target price of Rs90, indicating a potential upside of 30%. This adjustment reflects a 10% reduction from the previous target pri…
Month: July 2024
Exchange Rates Show Slight Fluctuations in Pakistan’s Currency Market
Karachi: The currency exchange rates in Pakistan have shown minor fluctuations over consecutive days, as per the latest data from the Exchange Companies Association of Pakistan. Notably, rates for major currencies like the USD, Euro, and GBP have seen…
KSE-100 Hits Record High, Trading Activity Soars
Karachi: In the latest trading session, the KSE-100 index experienced significant growth, culminating in a record-setting close. The index surged by 681 points, finishing at an all-time high of 80,234 points. This bullish trend was accompanied by an i…
Matracon Pakistan’s Credit Rating Updated by PACRA
Karachi: The Pakistan Credit Rating Agency Limited (PACRA) has updated the entity ratings for Matracon Pakistan (Pvt.) Limited, a prominent player in the construction industry since 1996. The rating adjustment reflects a positive outlook based on the …
Karachi Stock Exchange Sustains Bullish Momentum Despite Frontier Market Downgrade
Karachi: The Karachi Stock Exchange (KSE) continued its bullish trend despite news of Pakistan’s stocks being downgraded to Frontier Market status, as reported by Bloomberg. The KSE-100 index peaked at an intra-day high of 80,888 points before settlin…
DHA Lahore Launches New ‘Members Portal’ to Simplify Bill Payments
Lahore: Defence Housing Authority Lahore (DHA-L) has introduced a new Members Portal, aimed at simplifying the bill payment process for residents. This online platform enables users to access invoices and make payments efficiently through the DHA Laho…
UBG President Criticizes Government’s Economic Policies Under IMF Pressure
Karachi: United Business Group (UBG) President, Mr. Zubair Tufail, has voiced strong opposition against the government’s economic strategies, particularly its compliance with stringent International Monetary Fund (IMF) conditions. Mr. Tufail argues th…
Pakistan Market: KSE-100 Surpasses 80,000 Mark Amid Rising Volumes
Karachi: The KSE-100 index achieved a significant milestone by closing above the 80,000 threshold, marking a notable gain in its recent trajectory. The index rose by 681 points, ending the day at 80,234, with trading volumes increasing to 537 million …
FTSE Russell Downgrades Pakistan to Frontier Market Status with Minimal Impact Expected
Islamabad: FTSE Russell has reclassified Pakistan from a Secondary Emerging Market to a Frontier Market, effective September 2024, due to its failure to meet the minimum securities count requirement. This adjustment follows the country’s placement on …
Jamal Pipe Industries Maintains Steady Performance Amid Industry Challenges
Karachi: Jamal Pipe Industries (Pvt.) Limited, a family-run business with a four-decade history in the pipe manufacturing sector, has had its entity ratings reaffirmed by The Pakistan Credit Rating Agency Limited (PACRA). The company’s diverse product…