The ‘gainers’ was a long list this week, in which the KSE100 Index gained more than 1400 points and crossed the 68k level.
In major gainers, Dawood Hercules (DAWH) tops the list, which gained 13.5% this week, closing at Rs 160.35. Normally, trading in DAWH is on the quieter side, with occasional bigger trades of blocks of shares.
On March 11, 2024, DAWH announced annul results for the year 2023 and announced an EPS of Rs 21.5, a significant rise over Rs 7.67 last year. On the day of the announcement, the price was around Rs 140 and had closed down by Rs. 10 after the announcement.
See the note on the results announcement here.
Our Note on DAWH Annual Result
In other major gainers of the week gaining more than 10%, three were from the Auto sector.
Toping that was Sazgar Engineering (SAZEW) which gained more than 12.4%. The company had announced the commencement of pre-booking of its Hybrid Electric Vehicle.
This was followed by Ghandhara Industries Limited (GHNI) that rose by 10.8% and General Tyre (GTYR) that rose by 10.7%.
The pharma sector also came into demand as a court verdict dismissed a petition against the pharma sector raising prices. See our note on that.
SEARL rose the most by 10.4% for the week. Other pharma stocks also hit the upper limit on the last trading days of the week. On a weekly basis, however, GLAXO rose by 5.2%, CPHL by 4.9%, and ABOT and AGP ended the week by 4.3%.
The Cement sector also rose to the occasion after having a lacklustre performance for quite some time. On April 3, most of the cement stocks closed the day at the upper limit.
On a weekly basis, DG Khan rose by 5.5%, followed by PIOC 4.2% and Luck Cement by 3.4%.
In the category of 'major losers', three stocks top the list, having risen several folds in a short time recently. Namely, PIA, PAKRI, and PTC, declining by 17%, 11.4%, and 7.6%, respectively for the week.
PIA had started rising from a market price of less than Rs 5 in November last year and reached above Rs 31 a few days ago. PIA had been rising on the privatisation initiative and on the narrative that its debt obligations would be restructured, resulting in gains. On the last trading day of the week, just before the market closed, PIA issued a clarification, officially denying the "shifting of loans and clearing-off debts." See the PIA announcement.
PAKRI declined 11.4% in this week. It had started rising from the humble level of Rs 8 per share and doubled in a short period of two weeks. PAKRI announced annual results during the week with EPS of Rs 3.4, which was up 17% over last year. The Company also announced Rs. 1/- per share as a cash dividend. The auditors had expressed 'qualified' opinions of the financial results. See our note on PAKRI.
PTC declined by 7.6% in this week. This stock too had risen remarkably in short period. PTC was trading below Rs 7 per share in December when it started rising and rose to over Rs 18 per share by end of the last week. This week extension was approved the the SECP for holding of AGM.
Please note that we only post about stocks that are part of our Broader PSX Investment Universe.
