31 may, 2010

Research Reports for 31 May, 2010

AKD

• OMC Sector: Sales volume update

BMA

• Economy: Budget FY11 - Challenging yet possible

KASB

• Lucky: Maintain positive FY11E stance; Buy

AHL

• Federal budget to positively impact the cement sector

IGI

• Banking Sector - MoM spread up 9bps to 7.39% in Apr'10

28 May, 2010

Research Reports for 28 May, 2010

AKD

• Banking Sector: Quantifying Fear & other Ground Realities

KASB

• Urea rebounds, DAP flounders in Apr-10

BMA

• OMC: Ban on New CNG Stations to Benefit Already Positioned Players

IGI

• Fertilizer offtake Apr10 & Gas curtailment Update

JS

• Fertilizer offtake

27 May, 2010

Research Reports for 27 May, 2010

Merril Lyunch

• Investment Strategy: Pre-budget FY11: Tough task ahead

BMA

• Strategy: Pakistan’s weight enhanced to 3.7% in MSCI FM; EM Space the Next Stop?

AKD

• PSMC: Target price revision

JS

• Currency trauma post Greece crisis

KASB

• Report

26 May, 2010

Research Reports for 26 May, 2010

AKD

• FDI_Recovering flows

BMA

• Textile: Cotton running the show

IGI

• APL - OMC sector's safe haven

KASB

• E&Ps: Earnings tweaked on lower oil prices

JS

• KSE: Go defensive…

25 May, 2010

Research Reports for 25 May, 2010

AKD

• Monetary Policy Review and Outlook

BMA

• Economy: Monetary policy - Status quo maintained

KASB

• Economics: Policy rate unchanged at 12.5%

JS

• SBP 4QFY10 Policy: Status quo maintained

24 May, 2010

Research Reports for 24th May, 2010

KASB

• Banks: Proposal to increase tax rate by 2.5%

BMA

• Cement: DGKC - Revising FY10E EPS to PKR1.1/share

IGI

• E&P Sector - Attractive on price multiples

AKD

• Banks: NIM-based tax appears unlikely & Cements: Potential for increased FED

JS

• HBL: 1Q2010 review/ ‘Hold’ maintained

21 May, 2010

Research Reports for 21 May, 2010

AKD

• MCB: Target Price Revision

KASB

• Urea: Alternate gas strategy to boost prod.

BMA

• Glass & Ceramics: GHGL - Fragile, yet strong

JS

• Pre-Budget FY11: Deficit containment to be ensured