Category: Steel

Top 5 KSE100 Stocks to Invest in 2023: A Guide to Navigating Pakistan’s Volatile Market

As 2023 approaches, it’s crucial to stay informed about potential investment opportunities in the Pakistan Stock Exchange (PSX). Despite the volatility of the market, savvy investors can still find profitable options. In this blog post, we’ll be discussing the top KSE100 stocks to invest in 2023 and how to navigate the market.

Our projection for the KSE 100 index target in 2023 is at 47,640 points. This projection is based on an earnings growth rate of 12% and a dividend yield of 8%. Given the economic and political volatility in the market, we do not anticipate a re-rating of the index.

Pakistan Long Steel Sector-“Sharp Recovery Underway”

-We initiate our coverage on Pakistan long steel sector with an Outperform rating and Buy recommendation on Amreli Steel Limited (ASTL) (PT: PkR58, 41% upside) and Mughal Steel Limited (MUGHAL)(PT: PkR64, 25% upside). In a bid to stimulate the economy, Government of Pakistan announced construction package, providing incentives for investments into the industry, including an… Continue reading Pakistan Long Steel Sector-“Sharp Recovery Underway”

MUGHAL 3QFY20 Result – EPS at PkR 0.13/sh-undershoots market consensus

-Mughal Iron & Steel Ltd (MUGHAL) announced its 3QFY20 results earlier today, posting Net Profit after Tax (NPAT) of PkR33mn (EPS of PkR0.13/sh), down 91%Y/Y and 67%Q/Q. The result was below market consensus of PkR0.79/sh. We expect the stock to remain under pressure on the back of subdued earnings driven by higher finance cost. For… Continue reading MUGHAL 3QFY20 Result – EPS at PkR 0.13/sh-undershoots market consensus

Amreli Steel Limited (ASTL)– Deteriorating GP Margins and higher other charges magnified losses; LPS at PkR 1.26/sh

-Amreli Steel Ltd (ASTL) announced its 3QFY20 result today posting Net Loss after Tax of PkR 379mn (LPS of PkR 1.26/sh) compared to net loss of PkR292mn (LPS of PkR 0.99/sh) reported in 3QFY19. The result was below market consensus of LPS of PkR 0.48/sh. Losses were magnified due to shrinking GP margins higher selling… Continue reading Amreli Steel Limited (ASTL)– Deteriorating GP Margins and higher other charges magnified losses; LPS at PkR 1.26/sh