AKD STOCK SMART
Weekly Review
Despite political noise and upward trend in int’l oil prices (Brent: +1.6%WoW), benchmark KSE-100 index shed another 596pts to close the current week at 40,248 (down 1.5%WoW). Distressed energy chain (HUBC/PSO/ATRL down 2.6/5.5/7.0%WoW) on account of abrupt closure of FO based power plants was the major culprit behind lackluster performance of bourse during the week. Although NEPRA’s announcement later during the week regarding KEL’s Multi Year Tariff hearing sparked a trigger in the scrip (+11.9%WoW). Average daily traded volumes improved by 5.81%WoW to 112.2mn shares with 1) KEL (116.19mn shares), 2) TRG (36.26mn shares), 3) WTL (26.97mn shares), 4) ANL (26.78mn shares) and 5) PAEL (18.12mn shares) leading the board. Other news highlights for the week were: 1) JCC approving long-term plan of CPEC with special focus on SEZs while feasibility studies of Gwadar airport were shared with the Chinese members, 2) accountability court declaring Ishaq Dar an absconder, while the govt. allowed him leave of absence for an indefinite time period, 3) Pakistan current account gap widening to US$5.013bn in 4MFY18 against US$2.259bn in 4MFY17, 4) Lahore High Court making SRO No. 1035(I)/2017, dated 16.10.2017 (which imposed/modified regulatory duties on 731 items) inapplicable till final outcome of the filed petitions and 5) PM Abbasi performing groundbreaking/inauguration of PkR18bn East Bay Expressway in Gwadar and the newly built LNG terminal. Performance leaders (of AKD universe) during the week were: 1) KEL (+11.9%WoW), 2) FFBL (+4.1%WoW), 3) OGDC (+1.5%WoW), 4) MCB (+0.94%WoW) and 5) LUCK (+0.62%WoW); while laggards included: 1) PSO (-5.5%WoW), 2) KAPCO (-4.8%WoW), 3) ASTL (-4.6%WoW), 4) NBP (-4.0%WoW) and 5) FCCL (-3.9%WoW). Foreigners offloaded stocks worth US$6.28mn during the outgoing week compared to an inflow of US$1.13mn in the preceding week.
Outlook
Policy rate is expected to remain unchanged at 5.75% in a statement due to be released by SBP after its meeting on Friday, Nov 24’17 (today). However, OPEC and several non-OPEC nations led by Russia are scheduled to meet next week (Nov 30’17) in Vienna to discuss possible extension/deepening of oil production. In this regard, Oil &Gas sector can remain in limelight.
Pak Elektron Limited. Pak Elektron Limited is engaged in manufacturing and sale of electrical capital goods and domestic appliances. The Company operates through two segments: Power Division and Appliances Division. The Power Division is engaged in manufacturing and distribution of transformers, switchgears, energy meters, power transformers, construction of grid stations and electrification works. The Appliances Division is engaged in manufacturing, assembling and distribution of refrigerators, deep freezers, air conditioners, microwave ovens, washing machines and other home appliances. It offers services to power utilities, industries, individual customers, housing and commercial projects. Its engineering, procurement and construction (EPC) contracting division delivers custom designed and built high voltage and extra high voltage grid stations, electrification of housing projects and industrial parks. The Company's subsidiary is PEL Marketing (Private) Limited.
AKD Securities Ltd. is one of the leading securities firm in Pakistan, providing a comprehensive range of investor focused services, including equity brokerage, economic and securities research, investment banking and financial advisory services. AKD Securities accounts for more than 6% of the average daily value of the Karachi Stock Exchange. AKD Securities was the first brokerage house to launch an online trading platform in Pakistan in November 2002 and now has the largest market share with over 6000 customers. This has helped diversify and expand the retail investor base in the country and ushered in a whole new universe of investors to the stock market.
AKD Securities Ltd. caters to a diversified group of domestic and international institutional investors, high net worth individuals and upscale retail clients, including expatriate Pakistanis. With high quality research, unparalleled execution and distribution capability for both regular and large block trades, AKD Securities Ltd. has earned an outstanding reputation in the Pakistani securities industry.Outside of commercial banks, AKD Securities Ltd. is one of the biggest capital market firms in the country. AKD Securities is the leader in raising and providing risk capital in underwriting, market making and mergers and acquisitions in Pakistan. Good corporate governance and professionalism are emphasized throughout the firm and AKD Securities Ltd. is amongst the very few companies to have introduced a firm-wide comprehensive CODE of ETHICS, overseen by an independent compliance manager.Ultimately, our success is based on the quality of service we provide to our customers and the trust and confidence reposed in us by them. Our focus, therefore, remains on customer satisfaction at all levels in the company.
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