Last update: Mon, 24 Oct 2016 03am

BR Research: All


Increased economic activity and heightened car sales have been shaping petroleum consumption in the country. The August numbers by Oil Companies Advisory Council show that the total sales of petroleum products by the OMCs touched 2.3 million tons, up 21 percent year-on-year.
The flurry of activity in the cement sector is unprecedented and exciting for market watchers to witness. A flourishing local industry that is able to not only cater to domestic demand but also export is a major indicator of growth. Though recently the sector has gotten a tough beating in its major export destinations (Afghanistan mostly), margins in FY15 averaged at 38 percent, and at 40 percent in FY16 (for firms that have reported their financial year statements) with Lucky (48%), Kohat (46%), DG Khan (43%), Maple Leaf (43%) leading the pack so far.
Building on the gains made in earlier quarters, NetSol Technologies Limited (PSX: NetSol) has closed FY16 on a profitable note. Recall, the Lahore-based software firm had an uncharacteristic run of loss-making years FY14 and FY15, as its flagship product transition led to a lackluster top line. As the transition matures, a rejuvenated top line is behind the turnaround in FY16.
Amreli Steels Limited (PSX: ASTL), market leader in reinforcing steel bars (rebar) category, posted its annual accounts for FY16. The earnings per share (EPS) of the company clocked in at Rs4.81, up 6 percent compared to previous year. The market reaction to this result was positive as the stock price of Amerli Steels went up two percent and closed near its 52-week high.
Fiscal â??16 was one of the worst years in the history of Pakistanâ??s tractor industry, and itâ??s being reflected in Millat Tractors Limitedâ??s full-year financials; the companyâ??s top line dropped 26 percent over last year, while the bottom line was down by 27 percent.
There has been much hue and cry over the removal of input tax adjustment by the Federal Board of Revenue in the Finance Act 2016. Before the amendment, a person or entity was allowed to claim sales tax that was paid under the provincial sales tax laws on services.
There is an old Wall Street saying: "Bulls make money, bears make money and pigs get slaughtered" Eid holidays are almost upon us and the stock market seems to have found another gear. Traded volume in the market on Thursday surged passed 550 million, whereas the average turnover has been around 200 million shares over the past year.