All Reports
19-Nov-2019
Topline Market Review Nov 19, 2019
18-Nov-2019
Topline Market Review Nov 18, 2019
15-Nov-2019
Topline Market Weekly Review Nov 15, 2019
14-Nov-2019
Topline Market Review Nov 14, 2019
13-Nov-2019
Topline Market Review Nov 13, 2019
12-Nov-2019
Topline Market Review Nov 12, 2019
11-Nov-2019
Topline Market Review Nov 11, 2019
08-Nov-2019
Topline Market Weekly Review Nov 08, 2019
07-Nov-2019
Topline Market Review Nov 07, 2019
06-Nov-2019
Topline Market Review Nov 06, 2019
05-Nov-2019
Topline Market Review Nov 05, 2019
04-Nov-2019
Topline Market Review Nov 04, 2019
01-Nov-2019
Topline Market Weekly Review Nov 01, 2019
31-Oct-2019
Topline Market Monthly Review Oct 31, 2019
30-Oct-2019
Topline Market Review Oct 30, 2019
29-Oct-2019
Topline Market Review Oct 29, 2019
28-Oct-2019
Topline Market Review Oct 28, 2019
25-Oct-2019
Topline Market Weekly Review Oct 25, 2019
24-Oct-2019
Topline Market Review Oct 24, 2019
23-Oct-2019
Topline Market Review Oct 23, 2019
22-Oct-2019
Topline Market Review Oct 22, 2019
21-Oct-2019
Topline Market Review Oct 21, 2019
18-Oct-2019
Topline Market Weekly Review Oct 18, 2019
17-Oct-2019
Topline Market Review Oct 17, 2019
16-Oct-2019
Topline Market Review Oct 16, 2019
15-Oct-2019
Topline Market Review Oct 15, 2019
14-Oct-2019
Topline Market Review Oct 14, 2019
11-Oct-2019
Topline Market Weekly Review Oct 11, 2019
10-Oct-2019
Topline Market Review Oct 10, 2019
09-Oct-2019
Topline Market Review Oct 09, 2019
08-Oct-2019
Pakistan Fertilizer – Urea offtake to decline by 17% YoY in Sep-19 at 401k tons
07-Oct-2019
Topline Market Review Oct 07, 2019
04-Oct-2019
Topline Market Weekly Review Oct 04, 2019
03-Oct-2019
Topline Market Review Oct 03, 2019
02-Oct-2019
Topline Market Review Oct 02, 2019
01-Oct-2019
Topline Market Review Oct 01, 2019
Pakistan Oil Marketing – 1QFY20 sales at 26-Qtr low
30-Sep-2019
Topline Quarterly Review Sep 30, 2019
27-Sep-2019
Topline Market Weekly Review Sep 27, 2019
26-Sep-2019
Topline Market Review Sep 26, 2019
25-Sep-2019
Topline Result Review (Sep 25, 2019) PSO
Topline Market Review Sep 25, 2019
24-Sep-2019
Topline Market Review Sep 24, 2019
23-Sep-2019
Topline Market Review Sep 23, 2019
Pakistan Oil Fields (POL)-10 Year Low PE of 5.7x; Dividend Yield 15%
20-Sep-2019
Topline Result Review (Sep 20, 2019) MLCF
Topline Market Weekly Review Sep 20, 2019
19-Sep-2019
Topline Market Review Sep 19, 2019
Pakistan Automobiles – August Car sales at 62 months low; down by 41% YoY
18-Sep-2019
Topline Market Review Sep 18, 2019
Attock Group of Companies -Analyst Briefing
17-Sep-2019
Topline Market Review Sep 17, 2019
16-Sep-2019
Topline Market Review Sep 16, 2019
Pakistan Cement – Cement Dispatches Aug-19
Topline Result Review (Sep 16, 2019) DGKC
13-Sep-2019
Topline Market Weekly Review Sep 13, 2019
12-Sep-2019
Topline Market Review Sep 12, 2019
Topline Result Review (Sep 12, 2019) ASTL
11-Sep-2019
Topline Market Review Sep 11, 2019
06-Sep-2019
Topline Market Weekly Review Sep 06, 2019
05-Sep-2019
Topline Market Review Sep 05, 2019
04-Sep-2019
Topline Market Review Sep 04, 2019
03-Sep-2019
Topline Market Review Sep 03, 2019
Topline Result Review (Sep 03, 2019) PIBTL
02-Sep-2019
Topline Market Review Sep 02, 2019
Pakistan Fertilizer – Urea offtake to jump by 43% YoY in Aug-2019 at 616k tons
30-Aug-2019
Topline Market Monthly Review Aug 30, 2019
29-Aug-2019
Meezan Bank Limited (MEBL) – Analyst Briefing – Key Takeaways
Topline Market Review Aug 29, 2019
Pakistan Fertilizer – Companies Profits up 48% YoY in 2Q2019
Pakistan Market – GIDC Ordinance Issued
28-Aug-2019
Topline Market Review Aug 28, 2019
Topline Result Review (Aug 28, 2019) MEBL
27-Aug-2019
Topline Market Review Aug 27, 2019
Pakistan Economy – Fiscal Deficit at Record High of 8.9% in FY19
Topline Result Review (Aug 27, 2019) INDU
Topline Result Review (Aug 27, 2019) FCCL
Topline Result Review (Aug 27, 2019) PKGS
26-Aug-2019
Topline Market Review Aug 26, 2019
23-Aug-2019
Topline Market Weekly Review Aug 23, 2019
Topline Result Review (Aug 23, 2019) BOP
Topline Result Review (Aug 23, 2019) PAEL
22-Aug-2019
Topline Market Review Aug 22, 2019
Topline Result Review (Aug 22, 2019) AKBL
Pakistan Economy – Another big Bond Auction – Yields down 25-40bps
21-Aug-2019
Topline Market Review Aug 21, 2019
Topline Result Review (Aug 21, 2019) BAHL
20-Aug-2019
Topline Market Review Aug 20, 2019
Topline Result Review (Aug 20, 2019) ABL
Topline Result Review (Aug 20, 2019) ENGRO
Pakistan Strategy – Seeking value in a gloomy market
19-Aug-2019
Pakistan Automobiles – Car Sales down 42% YoY during July 2019; largest decline in 97 months
Topline Market Review Aug 19, 2019
Topline Result Review (Aug 19, 2019) ISL
Topline Result Review (Aug 19, 2019) BAFL
16-Aug-2019
Topline Market Review Aug 16, 2019
9-Aug-2019
Topline Market Weekly Review Aug 09, 2019
8-Aug-2019
Topline Market Review Aug 8, 2019
Topline Result Review (Aug 8, 2019) EFERT
7-Aug-2019
Topline Market Review Aug 7, 2019
Topline Result Review (Aug 7, 2019) MCB
Topline Result Review (Aug 7, 2019) UBL
6-Aug-2019
Topline Market Review Aug 6, 2019
Topline Result Review (Aug 6, 2019) FCEPL
5-Aug-2019
Topline Market Review Aug 5, 2019
2-Aug-2019
Topline Market Weekly Review Aug 02 , 2019
1-Aug-2019
Topline Market Review Aug 01, 2019
Pakistan Fertilizer – Urea offtake to remain flat in July-2019 at 499k tons
31-Jul-2019
Topline Market Monthly Review Jul 31 , 2019
29-Jul-2019
Topline Market Review Jul 29 2019
Topline Result Review (Jul 29, 2019) POL
Topline Result Review (Jul 29, 2019) LUCK
Topline Result Review (Jul 29, 2019) FFC
26-Jul-2019
Topline Market Weekly Review Jul 26 , 2019
Topline Result Review (Jul 26, 2019) FFBL
25-Jul-2019
Topline Market Review Jul 25 2019
Flash Note Jul 25, 2019 (HBL Conference Call Notes)
Pakistan Fertilizer – Urea offtake clocked in at 2.87mn tons during 1H2019; up 5% YoY
Pakistan Economy – Govt. Bond Auction – Record Participation 3-Year Yield 14.25%
24-Jul-2019
Topline Market Review Jul 24 2019
Topline Result Review (Jul 24, 2019) PSMC
Topline Result Review (Jul 24, 2019) HBL
23-Jul-2019
Topline Market Review Jul 23 2019
Topline Result Review (Jul 23, 2019) HCAR
22-Jul-2019
Topline Market Review Jul 22 2019
19-Jul-2019
Topline Market Weekly Review Jul 19 , 2019
Pakistan Politics – PM Imran Khan visit to USA Importance for Economy and Markets
Pakistan Fertilizer-Urea prices up lesser than cost increase.
18-Jul-2019
Topline Market Review Jul 18 2019
17-Jul-2019
Topline Market Review Jul 17 2019
Topline Result Review (Jul 17, 2019) PTC
Pakistan Central Bank sees Rate & Currency stability
16-Jul-2019
Topline Market Review Jul 16 2019
15-Jul-2019
Topline Market Review Jul 15 2019
12-Jul-2019
Topline Market Weekly Review Jul 12, 2019
11-Jul-2019
Pakistan Automobiles – Auto Sales down 8% YoY in FY19 after 6 years
Topline Market Review Jul 11 2019
10-Jul-2019
Topline Market Review Jul 10 2019
9-Jul-2019
Topline Market Review Jul 09 2019
IMF Staff Report & Central Bank Governor Meeting
Pakistan Cement – Domestic sales estimated to fall in FY19 after 7 years
8-Jul-2019
Topline Market Review Jul 08 2019
5-Jul-2019
Topline Market Weekly Review Jul 05 , 2019
4-Jul-2019
Topline Market Review Jul 04 2019
Topline Result Review (Jul 4, 2019) KEL
Pakistan’s Another IMF program – Fiscal & monetary tightening to continue
3-Jul-2019
Topline Market Review Jul 03 2019
2-Jul-2019
Topline Market Review Jul 02 2019
Pakistan Fertilizer – Nominal growth in urea offtake 3% YoY to 625k tons
Pakistan Oil Marketing – Dismal Performance in FY19
1-Jul-2019
Topline Market Review Jul 01 2019
28-Jun-2019
Pakistan Market Strategy – Market down 22.8% in US$ in 4QFY19; In FY19 Market down 38.5% in US$
Topline Market Weekly Review Jun 28 , 2019
27-Jun-2019
Topline Market Review Jun 27 2019
Thatta Cement (THCCL) – Corporate Briefing – Key Takeaways
26-Jun-2019
Topline Market Review Jun 26 2019
25-Jun-2019
Topline Market Review Jun 25 2019
Pakistan Market – Another Gas Price Hike in the offing
24-Jun-2019
Topline Market Review Jun 24 2019
21-Jun-2019
Topline Market Weekly Review Jun 21 , 2019
20-Jun-2019
Topline Market Review Jun 20 2019
Pakistan Strategy – Energy Sector Circular Debt Second Instalment of Rs200bn On Cards
19-Jun-2019
Topline Market Review Jun 19 2019
18-Jun-2019
Topline Market Review Jun 18 2019
17-Jun-2019
Topline Market Review Jun 17 2019
Flash Note Jun 17, 2019 (Pakistan Central Bank Governor Press Conference Takeaways)
Amreli Steels (ASTL); Earnings revised downward, ‘HOLD’ maintained
14-Jun-2019
Topline Market Weekly Review Jun 14 , 2019
13-Jun-2019
Topline Market Review Jun 13 2019
Pakistan Automobiles – May 2019 Sales Down 18% YoY
Pakistan Budget FY20 Analysis – Stabilization and Fiscal Discipline
12-Jun-2019
Topline Market Review Jun 12 2019
11-Jun-2019
Pakistan Budget FY20 – Initial Impressions
Topline Market Review Jun 11 2019
10-Jun-2019
Topline Market Review Jun 10 2019
Pakistan Oil Marketing – May 2019 sales down 34% YoY
Pakistan Fertilizer – Sharp Increase in May 2019 Urea Sales amidst Budgetary Measures
3-Jun-2019
Topline Market Review Jun 3 2019
30-May-2019
Topline Market Monthly Review May 30 , 2019
Topline Result Review (May 30, 2019) BOP
Pakistan Budget FY20 Preview – Tax Laden Budget
29-May-2019
Topline Market Review May 29 2019
28-May-2019
Topline Market Review May 28 2019
27-May-2019
Topline Market Review May 27 2019
24-May-2019
Topline Market Weekly Review May 24 , 2019
23-May-2019
Topline Market Review May 23 2019
Honda Atlas Cars (HCAR) – Earnings revised downward, ‘Hold’ maintained
Pakistan Economy – Implications of Jumbo T-Bill Auction
22-May-2019
Topline Market Review May 22 2019
21-May-2019
Pakistan Economy- Higher debt servicing leads to fiscal deficit of 2.3% in 3QFY19
Topline Market Review May 21 2019
20-May-2019
Pakistan Economy – State Bank Increases Policy Rate by 150bps to 12.25%
Topline Market Review May 20 2019
Pakistan E&Ps – Pakistan hits another dead hole in Offshore drilling
17-May-2019
Topline Market Weekly Review May 17 , 2019
16-May-2019
Topline Market Review May 16 2019
Pakistan Economy – IMF Statement Analysis
15-May-2019
Topline Market Review May 15 2019
14-May-2019
Topline Market Review May 14 2019
13-May-2019
Pakistan Automobiles – Apr 2019 Auto Sales Down 24% YoY
Topline Market Review May 13 2019
10-May-2019
Topline Market Weekly Review May 10 , 2019
Pakistan Comp Sheet (May 10, 2019)
Pakistan State Oil (PSO) – Earnings Revised Downward ‘Maintain Hold’
Pakistan Strategy – Pakistan may not be downgraded to Frontier Market
9-May-2019
Topline Market Review May 09 2019
Pak Suzuki Motors (PSMC) – Earnings revised downward, ‘Sell’ maintained
8-May-2019
Topline Market Review May 08 2019
Pakistan Fertilizer – Apr 2019 Urea Sales Down 20% YoY
Pakistan Economy – IMF Program and its Implications
Pakistan Banks – 1Q2019 Banking Sector profits up by 5% YoY
7-May-2019
Topline Market Review May 07 2019
6-May-2019
Topline Market Review May 06 2019
Pakistan Oil Marketing – Apr 2019 sales down 16% YoY
Pakistan Cement – Pretax Profits -25% YoY in 3QFY19
3-May-2019
Topline Market Weekly Review May 3 , 2019
Topline Result Review (May 3, 2019) AKBL
2-May-2019
Topline Market Review May 2, 2019
30-Apr-2019
Topline Market Review Apr 30 2019
Topline Result Review (Apr 30, 2019) PPL
27-Apr-2019
Topline Market Review Apr 29 2019
26-Apr-2019
Topline Market Weekly Review Apr 26 , 2019
Topline Result Review (Apr 26, 2019) LUCK
Topline Result Review (Apr 26, 2019) PAEL
Topline Result Review (Apr 26, 2019) ENGRO
Topline Result Review (Apr 26, 2019) BAFL
25-Apr-2019
Topline Market Review Apr 25 2019
Topline Result Review (April 25, 2019) BAHL
Topline Result Review (April 25, 2019) MEBL
Topline Result Review (April 25, 2019) MLCF
Topline Result Review (April 25, 2019) PKGS
24-Apr-2019
Topline Market Review Apr 24 2019
Topline Result Review (April 24, 2019) DGKC
Topline Result Review (April 24, 2019) HBL
Topline Result Review (April 24, 2019) UBL
23-Apr-2019
Topline Market Review Apr 23, 2019
Topline Result Review (April 23, 2019) PSMC
22-Apr-2019
Topline Market Review Apr 22 2019
Topline Result Review (April 22, 2019) PSO
Topline Result Review (April 22, 2019) SNGP
19-Apr-2019
Topline Market Weekly Review Apr 19 , 2019
Topline Result Review (Apr 19, 2019) EFERT
Topline Result Review (Apr 19, 2019) SEARL
18-Apr-2019
Topline Market Review Apr 18, 2019
17-Apr-2019
Topline Result Review (Apr 17, 2019) PTC
Topline Market Review Apr 17 2019
Pakistan Banks- New mechanism to move Govt. deposits to SBP under single account in consideration
16-Apr-2019
Topline Market Review Apr 16, 2019
Topline Result Review (Apr 16, 2019) ISL
12-Apr-2019
Topline Market Weekly Review Apr 12 , 2019
11-Apr-2019
Topline Market Review Apr 11 2019
Topline Result Review (Apr 11, 2019) POL
10-Apr-2019
Pakistan Automobiles – Mar 2019 Auto Sales up 2% YoY
Topline Market Review Apr 10 2019
Pakistan Comp Sheet (Apr 10, 2019)
Pak Elektron (PAEL) – Earnings revised downward ‘Maintain Buy’
09-Apr-2019
Topline Market Review Apr 09, 2019
Pakistan Economy – Mar 2019 Trade Deficit down US$1.1bn YoY
8-Apr-2019
Topline Market Review Apr 08, 2019
Flash Note Apr 8, 2019 (Pakistan Cement)
Pakistan Pharmaceuticals – Association clarifies drugs overpricing
5-Apr-2019
Topline Market Weekly Review Apr 05 , 2019
4-Apr-2019
Topline Market Review Apr 04, 2019
Topline Result Review (Apr 4, 2019) PAEL
Pakistan Consumer – Staples Profits Flat; Pharma & Discretionary Posted Decline
03-Apr-2019
Topline Market Review Apr 03, 2019
Topline Result Review (Apr 3, 2019) AICL
Topline Result Review (Apr 3, 2019) HASCOL
Pakistan Fertilizer – Mar 2019 Urea Sales up 17% YoY
02-Apr-2019
Hub Power Company (HUBC) – Analyst Briefing – Key Takeaways
Topline Market Review Apr 2, 2019
Pakistan Cement – Dispatches to fall 14% YoY during Mar 2019
Pakistan Banks – Banks with High PIB Holdings and their Implications
Pakistan Oil Marketing – Mar 2019 Sales down 18% YoY
1-Apr-2019
Topline Market Review Apr 1, 2019
Pakistan Fertilizer – Companies Profits up 41% YoY during 2018
29-Mar-2019
Topline Market Weekly Review (Mar 29 , 2019)
Pakistan Economy – State Bank Increases Policy Rate by 50bps to 10.75%
28-Mar-2019
Topline Market Review Mar 28, 2019
27-Mar-2019
Topline Market Review Mar 27, 2019
26-Mar-2019
Topline Market Review Mar 26, 2019
25-Mar-2019
Topline Market Review Mar 25, 2019
Topline Result Review (Mar 25, 2019) PSMC
22-Mar-2019
Topline Market Weekly Review (Mar 22 , 2019)
21-Mar-2019
Descon Oxychem (DOL) – Analyst Briefing Key Takeaways
Topline Market Review Mar 21 2019
20-Mar-2019
Topline Market Review Mar 20, 2019
19-Mar-2019
Topline Market Review Mar 19, 2019
18-Mar-2019
Topline Market Review Mar 18, 2019
15-Mar-2019
Topline Market Weekly Review (Mar 15 , 2019)
14-Mar-2019
Topline Market Review Mar 14, 2019
13-Mar-2019
Topline Market Review Mar 13, 2019
Pakistan Listed Banks Comp Sheet (Mar 13, 2019)
Topline Result Review (Mar 13, 2019) PKGS
12-Mar-2019
Topline Market Review Mar 12, 2019
11-Mar-2019
Pakistan Automobiles – Feb 2019 Auto Sales Down 13% YoY
Topline Market Review Mar 11, 2019
8-Mar-2019
Topline Market Weekly Review (Mar 8, 2019)
Pakistan Comp Sheet (Mar 8, 2019)
7-Mar-2019
Topline Market Review Mar 07, 2019
Pakistan Automobiles – Non-tax Filers Allowed to Buy Local Cars Irrespective of Engine Size
06-Mar-2019
Topline Market Review Mar 06, 2019
05-Mar-2019
Topline Market Review Mar 05, 2019
Pakistan Banks – 4Q2018 Banking Sector profits up by 6% YoY
04-Mar-2019
Pakistan Cement – Dispatches to fall 12% YoY during Feb 2019
Topline Market Review Mar 04, 2019
Pakistan Fertilizer – Feb 2019 Urea Sales up 2-4% YoY
Topline Result Review (Mar 4, 2019) BOP
Pakistan Oil Marketing – Feb 2019 sales down 2% YoY
01-Mar-2019
Topline Market Weekly Review (Mar 01, 2019)
28-Feb-2019
Topline Market Review Feb 28, 2019
Pakistan Politics – Indo-Pak Conflict and its impact on market
27-Feb-2019
Topline Market Review Feb 27, 2019
Pakistan Cement – Sector Profits +4% YoY in 2QFY19
26-Feb-2019
Meezan Bank (MEBL) – Analyst Briefing Key Takeaways
Topline Market Review Feb 26, 2019
Topline Result Review (Feb 26, 2019) NML
Topline Result Review (Feb 26, 2019) DGKC
25-Feb-2019
Topline Market Review Feb 25, 2019
Topline Result Review (Feb 25, 2019) INDU
22-Feb-2019
Topline Market Weekly Review (Feb 22, 2019)
Topline Result Review (Feb 22, 2019) OGDC
Topline Result Review (Feb 22, 2019) BAFL
21-Feb-2019
Topline Market Review Feb 21, 2019
Topline Result Review (Feb 21, 2019) HUBC
Topline Result Review (Feb 21, 2019) MEBL
20-Feb-2019
Topline Result Review (Feb 20, 2018) HBL
Topline Market Review Feb 20, 2019
Topline Result Review (Feb 20, 2019) MCB
Topline Result Review (Feb 20, 2019) UBL
Topline Result Review (Feb 20, 2019) MLCF
Pakistan Economy- Fiscal Deficit (Feb 20, 2019)
Topline Result Review (Feb 20, 2019) ENGRO
19-Feb-2019
Topline Market Review Feb 19, 2019
18-Feb-2019
Topline Market Review Feb 18, 2019
Topline Result Review (Feb 18, 2019) PSO
15-Feb-2019
Topline Market Weekly Review (Feb 15, 2019)
14-Feb-2019
Topline Market Review Feb 14, 2019
13-Feb-2019
Topline Market Review Feb 13, 2019
12-Feb-2019
Topline Market Review Feb 12, 2019
11-Feb-2019
Pakistan Automobiles – Jan 2019 Auto Sales Down 4% YoY
Topline Market Review Feb 11, 2019
8-Feb-2019
Topline Market Weekly Review (Feb 08, 2019)
Pakistan Comp Sheet (Feb 8, 2019)
Topline Result Review (Feb 08, 2019) EFERT
Topline Result Review (Feb 08, 2019) EFOODS
7-Feb-2019
Topline Market Review Feb 7, 2019
6-Feb-2019
Topline Market Review Feb 6, 2019
4-Feb-2019
Topline Market Review Feb 4, 2019
Pakistan Fertilizer – Jan 2019 Urea Sales up 5% YoY
1-Feb-2019
Topline Market Weekly Review (Feb 01, 2019)
Pakistan Cement – Dispatches to fall 9% YoY during Jan 2019
Pakistan Oil Marketing – Jan 2019 sales down 16% YoY
31-Jan-2019
Topline Market Review Jan 31, 2019
Pakistan Economy – State Bank Increases Policy Rate by 25 basis points
Topline Result Review (Jan 31, 2019) LUCK
Topline Result Review (Jan 31, 2019) FFC
30-Jan-2019
Topline Market Review Jan 30, 2019
Topline Result Review (Jan 30, 2019) FFBL
Topline Result Review (Jan 30, 2019) BAHL
29-Jan-2019
Topline Market Review Jan 29, 2019
28-Jan-2019
Topline Market Review Jan 28, 2019
25-Jan-2019
Topline Market Weekly Review (Jan 25, 2019)
Topline Result Review (Jan 25, 2019) ISL
Askari Bank (AKBL) – Initiating Coverage with a ‘Buy’
24-Jan-2019
Topline Market Review Jan 24, 2019
Topline Result Review (Jan 24, 2019) HCAR
23-Jan-2019
Pakistan Economy – Market Positive; Lacking on Revenue Measures
Topline Market Review Jan 23, 2019
22-Jan-2019
Topline Market Review Jan 22, 2019
Topline Result Review (Jan 22, 2019) POL
Pakistan Strategy – Pakistan Key Holding Companies
21-Jan-2019
Topline Market Review Jan 21, 2019
18-Jan-2019
Topline Market Weekly Review (Jan 18, 2019)
Pakistan Economy – Upcoming PIB Auction & Implications
17-Jan-2019
Topline Market Review Jan 17, 2019
Pakistan Market – GIDC Resolution EPCL, LOTCHEM, GATM, FML to benefit the most
16-Jan-2019
Topline Market Review Jan 16, 2019
15-Jan-2019
Topline Market Review Jan 15, 2019
Pakistan E&Ps – If Successful Discovery; A Possible Game Changer for OGDC & PPL
14-Jan-2019
Topline Market Review Jan 14, 2019
Pakistan Economy – Upcoming Mini Budget
11-Jan-2019
Topline Market Weekly Review (Jan 11, 2019)
Pakistan Fertilizer – GIDC Resolution on Cards; FFC to benefit the most
10-Jan-2019
Pakistan Automobiles – 1HFY19 Sales Down 3% YoY
Pakistan Economy – 1HFY19 Trade Deficit Shrinks by US$1bn
Topline Market Review Jan 10, 2019
9-Jan-2019
Topline Market Review Jan 09, 2019
8-Jan-2019
Pakistan Banks – Banking Sector Deposits Show Decade low Growth
Topline Market Review Jan 08, 2019
7-Jan-2019
Topline Market Review Jan 07, 2019
Topline Result Review (Jan 7, 2019) SSGC
Pakistan Comp Sheet (Jan 7, 2019)
4-Jan-2019
Topline Market Weekly Review (Jan 4, 2019)
Pakistan Cement – Cement Dispatches to remain flat during Dec 2018
3-Jan-2019
Topline Market Review Jan 03, 2019
2-Jan-2019
Topline Market Review Jan 02, 2019
Pakistan Fertilizer – Dec 2018 Urea Sales Flat
Pakistan Economy – Dec 2018 CPI at 6.17% YoY; Below Expectations
Pakistan Oil Marketing – Dec 2018 sales down 27% YoY
1-Jan-2019
Topline Market Review Jan 1, 2019
31-Dec-2018
Topline Market Review Dec 31, 2018
28-Dec-2018
Topline Market Weekly Review (Dec 28, 2018)
27-Dec-2018
Topline Market Review Dec 27, 2018
Pakistan Market – Asset Classes Return in 2018
26-Dec-2018
Topline Market Review Dec 26, 2018
24-Dec-2018
Topline Market Review Dec 24, 2018
Flash Note Dec 24, 2018 (Politics)
21-Dec-2018
Topline Market Weekly Review (Dec 21, 2018)
20-Dec-2018
Topline Market Review Dec 20, 2018
Pakistan Market – One Pharma and Two Foods Raised Rs4.3bn in IPOs in 2018
19-Dec-2018
Topline Market Review Dec 19, 2018
18-Dec-2018
Topline Market Review Dec 18, 2018
17-Dec-2018
Topline Market Review Dec 17, 2018
14-Dec-2018
Topline Market Weekly Review (Dec 14, 2018)
13-Dec-2018
Topline Market Review Dec 13, 2018
12-Dec-2018
Topline Market Review Dec 12, 2018
11-Dec-2018
Pakistan Automobiles – Nov 2018 Auto Sales Down 17% YoY
Topline Market Review Dec 11, 2018
10-Dec-2018
Topline Market Review Dec 10, 2018
7-Dec-2018
Topline Market Weekly Review (Dec 07, 2018)
6-Dec-2018
Shifa International Hospitals (SHFA) – Analyst Briefing Key Takeaways
Topline Market Review Dec 6, 2018
5-Dec-2018
Pakistan Fertilizer – Nov 2018 Urea sales down 21% YoY
Pakistan cement – Dispatches Flat YoY in Nov 2018
4-Dec-2018
Topline Market Review Dec 4, 2018
Pakistan Oil Marketing – Nov 2018 oil sales down 32% YoY
3-Dec-2018
Topline Market Review Dec 3, 2018
30-Nov-2018
Topline Market Weekly Review (Nov 30, 2018)
Flash Note Nov 30, 2018 (Monetary Policy)
Pakistan Economy – Economy Rupee Devaluation
29-Nov-2018
Topline Market Review Nov 29, 2018
26-Nov-2018
Topline Market Review Nov 26, 2018
Pakistan Economy – Higher Current Expenditures Outstretched Budget Deficit
23-Nov-2018
Topline Market Weekly Review (Nov 23, 2018)
Pakistan Strategy – Pakistan Key Holding Companies
INIL – Slower growth and Imports to dent Earnings ‘BUY’ maintained
22-Nov-2018
Topline Market Review Nov 22, 2018
20-Nov-2018
Topline Market Review Nov 20, 2018
Pakistan Textile Sector – Beneficiary of Govt. Export Focus
19-Nov-2018
Topline Market Review Nov 19, 2018
16-Nov-2018
Topline Market Weekly Review (Nov 16, 2018)
15-Nov-2018
Topline Market Review Nov 15, 2018
Pakistan Listed Banks Comp Sheet (Nov 15, 2018)
Pakistan Banks – Omni Group Case; Potential Impact on Exposed Banks
14-Nov-2018
Topline Market Review Nov 14, 2018
Pakistan Strategy – MSCI Semi-Annual Index Review
13-Nov-2018
Topline Market Review Nov 13, 2018
12-Nov-2018
Pakistan Automobile – Oct 2018 Auto Sales up 6% YoY
Topline Market Review Nov 12, 2018
Topline Result Review (Nov 12, 2018) HCAR
9-Nov-2018
Topline Market Weekly Review (Nov 9, 2018)
Pakistan Comp Sheet (Nov 9, 2018)
HASCOL- Multiple additions on way; BUY Maintained
8-Nov-2018
Topline Market Review Nov 8, 2018
PSMC – Earnings revised downward, ‘Hold’ call maintained
Pakistan Economy – Pakistan’s exports to China; Textile and Agri to benefit
7-Nov-2018
Topline Market Review Nov 7, 2018
Pakistan Banks – Sector Earnings Revised Post 3Q2018 Results
Pakistan Consumer – Profitability down 16% YoY in Sep 2018
6-Nov-2018
Topline Market Review Nov 6, 2018
5-Nov-2018
Topline Market Review Nov 5, 2018
Pakistan Fertilizer – Oct 2018 Urea sales +24% YoY
2-Nov-2018
Topline Market Weekly Review (Nov 2, 2018)
Pakistan Banks – Sector profits down by 27% YoY in 3Q2018
1-Nov-2018
Flash Note Nov 1, 2018 (BAFL Conference Call Notes)
Topline Market Review Nov 1, 2018
Pakistan Cement – Sector Profits -38% YoY in 1QFY19
31-Oct-2018
Topline Market Review Oct 31, 2018
30-Oct-2018
Topline Market Review Oct 30, 2018
Topline Result Review (Oct 30, 2018) SEARL
Pakistan Oil Marketing – Oct 2018 oil sales likely to fall by 38% YoY
Topline Result Review (Oct 30, 2018) PAEL
Pakistan Power – NEPRA Reviewing US$ IRR on Power Projects
29-Oct-2018
Topline Market Review Oct 29, 2018
Flash Note Oct 29, 2018 (HBL Conference Call Notes)
Topline Result Review (Oct 29, 2018) LUCK
Topline Result Review (Oct 29, 2018) PSO
26-Oct-2018
Topline Market Weekly Review (Oct 26, 2018)
Topline Result Review (Oct 26, 2018) INDU
Topline Result Review (Oct 26, 2018) FFC
25-Oct-2018
Topline Result Review (Oct 25, 2018) OGDC
Topline Market Review Oct 25, 2018
Topline Result Review (Oct 25, 2018) DGKC
Topline Result Review (Oct 25, 2018) HBL
ISL – Earnings revised downward ‘Buy’ maintained
PKGS – Earnings revised downward ‘Maintain Buy’
24-Oct-2018
Topline Market Review Oct 24, 2018
Topline Result Review (Oct 24, 2018) MCB
Topline Result Review (Oct 24, 2018) MEBL
23-Oct-2018
Topline Market Review Oct 23, 2018
Topline Result Review (Oct 23, 2018) NBP
Topline Result Review (Oct 23, 2018) PSMC
22-Oct-2018
Pakistan Economy – CAD Clocks in at US$3.7bn, 5-Qtr Low
Topline Market Review Oct 22, 2018
Engro Foods (EFOODS) – Earnings revised downward ‘Maintain Sell’
19-Oct-2018
Topline Market Weekly Review (Oct 19, 2018)
Flash Note Oct 19, 2018 (UBL Conference Call Notes)
Topline Result Review (Oct 19, 2018) ENGRO
Topline Result Review (Oct 19, 2018) LOTCHEM
Pakistan Strategy – Market Fall Provides Selective Entry Point
18-Oct-2018
Topline Market Review Oct 18, 2018
Topline Result Review (Oct 18, 2018) UBL
Topline Result Review (Oct 18, 2018) EFERT
17-Oct-2018
Topline Market Review Oct 17, 2018
16-Oct-2018
Topline Market Review Oct 16, 2018
Topline Result Review (Oct 16, 2018) ISL
15-Oct-2018
Topline Market Review Oct 15, 2018
12-Oct-2018
Topline Market Weekly Review (Oct 12, 2018)
Topline Result Review (Oct 12, 2018) POL
Topline Result Review (Oct 12, 2018) SEARL
11-Oct-2018
Topline Market Review Oct 11, 2018
Unity Foods (UNITY) – Analyst Briefing Key Takeaways
Pakistan Strategy – PAK MSCI EM Stocks at Risk of Exclusion
10-Oct-2018
Topline Market Review Oct 10, 2018
Pakistan Automobiles – 1QFY19 Auto Sales fall 4% YoY
Pakistan Economy – September Trade Deficit Shrinks
9-Oct-2018
Topline Market Review Oct 9, 2018
Pakistan Economy – Govt. Finally Decides to Seek IMF Program
8-Oct-2018
Topline Market Review Oct 8, 2018
5-Oct-2018
Topline Market Weekly Review (Oct 5, 2018)
Pakistan Comp Sheet (Oct 5, 2018)
Pakistan Economy – IMF Team Paints a Dreary Picture of Economy
Pakistan Strategy – Govt Finally Notifies the Much Awaited Hike in Gas Tariff
4-Oct-2018
Topline Market Review Oct 4, 2018
3-Oct-2018
Topline Market Review Oct 3, 2018
Pakistan Fertilizer – Sep 2018 Urea sales +176% YoY
2-Oct-2018
Topline Market Review Oct 2, 2018
Pakistan Oil Marketing – Sep 2018 oil sales down 21% YoY; 1QFY19 sales at 4-Year low
Pakistan Cement – Sector Pre-tax Profits -36% YoY in 4QFY18; Industry’s Margins at 6-Year Low
1-Oct-2018
Topline Market Review Oct 1, 2018
Pakistan Economy – Policy rate increases to 8.5%
28-Sep-2018
Topline Market Weekly Review (Sept 28, 2018)
Pakistan cement sales +9% YoY in Sep 2018
27-Sep-2018
Topline Market Review Sep 27, 2018
26-Sep-2018
Topline Market Review Sep 26, 2018
Topline Result Review (Sep 26, 2018) NML
25-Sep-2018
Topline Market Review Sep 25, 2018
24-Sep-2018
Topline Market Review Sep 24, 2018
19-Sep-2018
Topline Market Weekly Review (Sept 19, 2018)
Topline Result Review (Sep 19, 2018) DGKC
18-Sep-2018
Topline Market Review Sep 18, 2018
Pakistan Economy – Amended Finance Bill a right direction on a bumpy road
Topline Result Review (Sep 18, 2018) MLCF
17-Sep-2018
Topline Market Review Sep 17, 2018
Pakistan Strategy – Govt. approves higher gas prices in a much anticipated move
Flash Note Sep 17, 2018 (DAWH)
14-Sep-2018
Topline Market Weekly Review (Sep 14, 2018)
13-Sep-2018
Topline Market Review Sep 13, 2018
12-Sep-2018
Topline Market Review Sep 12, 2018
Pakistan Listed Banks Comp Sheet (Sep 12, 2018)
11-Sep-2018
Pakistan Automobiles – 2MFY19 Auto Sales fall 6% YoY
Topline Market Review Sep 11, 2018
10-Sep-2018
Topline Market Review Sep 10, 2018
7-Sep-2018
Topline Market Weekly Review (Sep 7, 2018)
Flash Note Sep 7, 2018 (OGDC Conference Call Notes)
Topline Result Review (Sep 7, 2018) OGDC
Pakistan Comp Sheet (Sep 7, 2018)
6-Sep-2018
Topline Market Review Sep 6, 2018
5-Sep-2018
Topline Market Review Sep 5, 2018
Pakistan Consumer – Profitability up 2% YoY in Jun 2018
Pakistan Strategy – Likely Gas Price Increase
4-Sep-2018
Topline Market Review Sep 4, 2018
Pakistan Fertilizer – Urea sales to decline by 51% YoY in Aug 2018
Pakistan Oil Marketing – Aug 2018 oil sales down by 46% YoY
Pakistan Strategy – Energy Sector Circular Debt Resolution could take time
3-Sep-2018
Topline Market Review Sep 3, 2018
Flash Note Sep 3, 2018 (Refinery Sector)
31-Aug-2018
Topline Market Weekly Review (Aug 31, 2018)
Pakistan Banks – Sector profits down 3% YoY in 2Q2018
Pakistan Fertilizer – Companies profit up by 67% YoY in 2Q2018
30-Aug-2018
Topline Market Review Aug 30, 2018
Topline Result Review (Aug 30, 2018) MARI
Topline Result Review (Aug 30, 2018) NBP
29-Aug-2018
Topline Market Review Aug 29, 2018
Pakistan Cement – sales -7% YoY in Aug 2018
Topline Result Review (Aug 29, 2018) AICL
28-Aug-2018
PAEL – Analyst Briefing Key Takeaways
Topline Market Review Aug 28, 2018
Topline Result Review (Aug 28, 2018) INDU
27-Aug-2018
Topline Market Review Aug 27, 2018
Topline Result Review (Aug 27, 2018) PKGS
Topline Result Review (Aug 27, 2018) BAFL
24-Aug-2018
Topline Market Review Aug 24, 2018
20-Aug-2018
Topline Market Review Aug 20, 2018
Topline Result Review (Aug 20, 2018) HASCOL
Topline Result Review (Aug 20, 2018) HUBC
17-Aug-2018
Topline Market Weekly Review (Aug 17, 2018)
Topline Result Review (Aug 17, 2018) INIL
16-Aug-2018
Topline Market Review Aug 16, 2018
Topline Result Review (Aug 16, 2018) ENGRO
Topline Result Review (Aug 16, 2018) PAEL
Pakistan Automobiles – Sector Earnings Revised Downward
15-Aug-2018
Topline Market Review Aug 15, 2018
Topline Result Review (Aug 15, 2018) ISL
Topline Result Review (Aug 15, 2018) POL
13-Aug-2018
Topline Market Review Aug 13, 2018
Flash Note Aug 13, 2018 (EFERT Analyst Briefing Notes)
Flash Note Aug 13, 2018 (MCB Conference Call Notes)
Topline Result Review (Aug 13, 2018) PSO
10-Aug-2018
Topline Market Weekly Review (Aug 10, 2018)
Pakistan Automobiles – July 2018 Auto Sales grow 9% YoY
UBL – Earnings revised down, Downgraded to Hold
HBL – Earnings revised down, Downgraded to Hold
Topline Result Review (Aug 10, 2018) EFERT
9-Aug-2018
Topline Market Review Aug 9, 2018
8-Aug-2018
Topline Market Review Aug 8, 2018
7-Aug-2018
Topline Market Review Aug 7, 2018
Flash Note Aug 7, 2018 (HBL Conference Call Notes)
Topline Result Review (Aug 7, 2018) LOTCHEM
6-Aug-2018
Topline Market Review Aug 6, 2018
Pakistan Fertilizer – Urea sales to surge by 45% YoY in Jul 2018
3-Aug-2018
Topline Market Weekly Review (Aug 3, 2018)
Topline Result Review (Aug 3, 2018) EFOODS
Flash Note Aug 3, 2018 (UBL Conference Call Notes)
Pakistan Comp Sheet (Aug 3, 2018)
2-Aug-2018
Topline Market Review Aug 2, 2018
Topline Result Review (Aug 2, 2018) HBL
Topline Result Review (Aug 2, 2018) UBL
Pakistan Oil Marketing – Oil sales down 30% YoY in Jul 18
Engro Corporation (ENGRO) – Earning revised up ‘BUY’ maintained
1-Aug-2018
Topline Market Review Aug 1, 2018
Pakistan Cement – sales +4% YoY in Jul 2018
Topline Result Review (Aug 1, 2018) MCB
31-Jul-2018
Topline Market Review Jul 31, 2018
Topline Result Review (Jul 31, 2018) LUCK
Topline Result Review (Jul 31, 2018) FFC
Topline Result Review (Jul 31, 2018) FFBL
30-Jul-2018
Topline Market Review Jul 30, 2018
Topline Result Review (Jul 30, 2018) HCAR
27-Jul-2018
Topline Market Weekly Review (Jul 27, 2018)
26-Jul-2018
Topline Market Review Jul 26, 2018
Pakistan Politics – Khan’s PTI Emerged Victorious in National Polls
24-Jul-2018
Topline Market Review Jul 24, 2018
Topline Result Review (Jul 24, 2018) PSMC
23-Jul-2018
Topline Market Review Jul 23, 2018
20-Jul-2018
Topline Market Weekly Review Jul 20, 2018)
Pakistan Politics – Likely Market Response on Election Outcome
Flash Note Jul 20, 2018 (ENGRO)
19-Jul-2018
Topline Market Review Jul 19, 2018
18-Jul-2018
Topline Market Review Jul 18, 2018
Topline Result Review (Jul 18, 2018) PTC
17-Jul-2018
Topline Market Review Jul 17, 2018
Flash Note Jul 17, 2018 (Fertilizer)
16-Jul-2018
Topline Market Review Jul 16, 2018
Flash Note Jul 16, 2018 (Economy)
Pakistan Economy – State Bank increases interest rates by 100 basis points
13-Jul-2018
Topline Market Weekly Review Jul 13, 2018)
12-Jul-2018
Topline Market Review Jul 12, 2018
International Industries (INIL) – Earnings revised downward, ‘BUY’ maintained
11-Jul-2018
Topline Market Review Jul 11, 2018
Flash Note Jul 11, 2018 (Economy)
Pakistan Automobiles – FY18 Auto Sales Rise 21%YoY
10-Jul-2018
Topline Market Review Jul 10, 2018
Pakistan Politics – General Elections 2018 Update; Party Manifestos – PTI vs. PML-N
9-Jul-2018
Topline Market Review Jul 9, 2018
Pakistan Banks- Interest Rates Assumption Revised up Banks to be beneficiaries
6-Jul-2018
Topline Market Weekly Review Jul 6, 2018)
Pakistan Comp Sheet (Jul 6, 2018)
Flash Note Jul 6, 2018 (Politics)
5-Jul-2018
Topline Market Review Jul 5, 2018
4-Jul-2018
Topline Market Review Jul 4, 2018
Pakistan Elections 2018 Update
3-Jul-2018
Topline Market Review Jul 3, 2018
Pakistan Oil Marketing – Oil sales down 5% in FY18 after a gap of 5-years
Pakistan Fertilizer – Urea inventory at 39 months low in Jun 2018
2-Jul-2018
Topline Market Review Jul 2, 2018
Pakistan Politics – PTI Likely To Lead The Electoral Battleground
29-Jun-2018
Topline Market Weekly Review Jun 29, 2018)
Pakistan Market Strategy – KSE-100 Index gains 4% in 1H2018 (down 6% in US$)
on of the worst performing in FY18
28-Jun-2018
Topline Market Review Jun 28, 2018
27-Jun-2018
Topline Market Review Jun 27, 2018
26-Jun-2018
Topline Market Review Jun 26, 2018
Pakistan Economy – Tax Amnesty Scheme expectations and implications
25-Jun-2018
Topline Market Review Jun 25, 2018
Pakistan Strategy – Pakistan’s placement on FATF blacklist least likely
Pakistan Gas Marketing – Price Increase & Likely Implication
22-Jun-2018
Topline Market Weekly Review Jun 22, 2018)
21-Jun-2018
Topline Market Review Jun 21, 2018
Pakistan Economy – Credit Rating Agencies turning “Negative”
20-Jun-2018
Topline Market Review Jun 20, 2018
19-Jun-2018
Topline Market Review Jun 19, 2018
14-Jun-2018
Topline Market Weekly Review Jun 14, 2018)
13-Jun-2018
Topline Market Review Jun 13, 2018
12-Jun-2018
Topline Market Review Jun 12, 2018
Pakistan Automobiles – May 2018 Auto Sales up 5% YoY – In line with expectations
11-Jun-2018
Topline Market Review Jun 11, 2018
Pakistan Economy – Rupee devalues for the third time in FY18
7-Jun-2018
Topline Market Weekly Review Jun 7, 2018)
Pak Elektron (PAEL) – Reiterate Buy
6-Jun-2018
Topline Market Review Jun 6, 2018
5-Jun-2018
Topline Market Review Jun 5, 2018
Pakistan International Bulk Terminal (PIBTL) – Reinstate with ‘Sell’
4-Jun-2018
Topline Market Review Jun 4, 2018
Flash Note Jun 4, 2018 (Fertilizer Data)
1-Jun-2018
Topline Market Weekly Review Jun 1, 2018)
Pakistan Comp Sheet (Jun 1, 2018)
Flash Note Jun 1, 2018 (Economy)
31-May-2018
Topline Market Review May 31, 2018
30-May-2018
Topline Market Review May 30, 2018
Pakistan Cement – sales +13% YoY in FY18; Industry Utilization at 2.5 Decade High!
Pakistan Cement – Sales up 2% YoY in May 2018
29-May-2018
Topline Market Review May 29, 2018
28-May-2018
Topline Market Review May 28, 2018
Flash Note May 28, 2018 (Politics Caretaker PM)
25-May-2018
Topline Market Weekly Review May 25, 2018)
Flash Note May 25, 2018 (Monetary Policy)
Flash Note May 25, 2018 (Economy)
24-May-2018
Topline Market Review May 24, 2018
23-May-2018
Topline Market Review May 23, 2018
Bank of Punjab (BOP) – Reinstate with ‘Hold’
22-May-2018
Topline Market Review May 22, 2018
LOTCHEM – Improving Global PTA Margins to Support Earnings
21-May-2018
Topline Market Review May 21, 2018
18-May-2018
Topline Market Weekly Review May 18, 2018)
Flash Note May 18, 2018 (Gas Marketing)
17-May-2018
Topline Market Review May 17, 2018
16-May-2018
Topline Market Review May 16, 2018
15-May-2018
Topline Market Review May 15, 2018
Flash Note May 15, 2018 (MSCI Market)
Topline Result Review (May 15, 2018) HCAR
14-May-2018
Topline Market Review May 14, 2018
Flash Note May 14, 2018 (SSGC)
11-May-2018
Topline Market Weekly Review May 11, 2018)
Pakistan Automobiles – Apr 2018, PSMC and ATLH Marked New History – In-line with expectation
10-May-2018
Topline Market Review May 10, 2018
Flash Note May 10, 2018 (INDU Analyst Briefing Notes)
9-May-2018
Topline Market Review May 9, 2018
8-May-2018
Topline Market Review May 8, 2018
7-May-2018
Topline Market Review May 7, 2018
Flash Note May 7, 2018 (ENGRO)
Pakistan Fertilizer – Urea sales to rise by 51% YoY in Apr 2018
Flash Note May 7, 2018 (MCB Conference Call Notes)
4-May-2018
Topline Market Weekly Review May 4, 2018)
Pakistan Comp Sheet (May 4, 2018)
Hascol Petroleum (HASCOL) – Earnings revised upwards, ‘Buy’ Stance maintained
Habib Bank (HBL) – Earnings revised downwards; ‘Buy’ Stance maintained
3-May-2018
Topline Market Review May 3, 2018
Pakistan Textiles – Sector Profitability flat during 2QFY18
Pakistan Fertilizer – Sector Earning up by 47% YoY in 1Q2018
2-May-2018
Topline Market Review May 2, 2018
Engro Corporation (ENGRO) – Earning revised upward ‘Buy’ stance maintained
Pakistan Banks – Banking Sector Profits down 18% YoY in 1Q2018
Pakistan Cement Sales up 17% YoY in Apr 2018
Cement Sector Profits down 24% YoY in 3QFY18
30-April-2018
Topline Market Review Apr 30, 2018
Topline Result Review (April 30, 2018) SNGP
United Bank (UBL) – Earnings revised downwards ‘Buy’ Stance maintained
28-April-2018
Pakistan Budget FY19 – Ambitious Budget Ahead of The Elections
27-April-2018
Topline Market Weekly Review Apr 27, 2018)
Pakistan Budget FY19 – Initial Impressions
Topline Result Review (April 27, 2018) SEARL
Topline Result Review (April 27, 2018) OGDC
Topline Result Review (April 27, 2018) HBL
Topline Result Review (April 27, 2018) INDU
26-April-2018
Topline Market Review Apr 26, 2018
Pakistan Economic Review FY18 – GDP Growth at 13-year High of 5.8%
Topline Result Review (Apr 26, 2018) HUBC
Fauji Fertilizer Bin Qasim (FFBL)- Upgraded to BUY
Topline Result Review (Apr 26, 2018) BOP
Topline Result Review (Apr 26, 2018) LUCK
25-April-2018
Topline Market Review Apr 25, 2018
Topline Result Review (Apr 25, 2018) PKGS
Topline Result Review (Apr 25, 2018) PAEL
Topline Result Review (Apr 25, 2018) MCB
Topline Result Review (Apr 25, 2018) MLCF
24-April-2018
Topline Market Review Apr 24, 2018
Topline Result Review (Apr 24, 2018) PPL
Topline Result Review (Apr 24, 2018) FFBL
23-April-2018
Topline Market Review Apr 23, 2018
Topline Result Review (Apr 23, 2018) PSO
Topline Result Review (Apr 23, 2018) ENGRO
20-April-2018
Topline Market Weekly Review Apr 20, 2018)
Topline Result Review (Apr 20, 2018) EFERT
Flash Note Apr 20, 2018 (UBL Conference Call Notes)
Topline Result Review (Apr 20, 2018) BAFL
Topline Result Review (Apr 20, 2018) ASTL
19-April-2018
Topline Market Review Apr 19, 2018
18-April-2018
Topline Market Review Apr 18, 2018
Topline Result Review (Apr 18, 2018) UBL
17-April-2018
Topline Market Review Apr 17, 2018
Topline Result Review (Apr 17, 2018) BAHL
Topline Result Review (Apr 17, 2018) ISL
16-April-2018
Topline Market Review Apr 16, 2018
Topline Result Review (Apr 16, 2018) POL
Topline Result Review (Apr 16, 2018) MARI
13-April-2018
Topline Market Weekly Review Apr 13, 2018)
12-April-2018
Topline Market Review Apr 12, 2018
Pakistan Strategy – Pakistan Key Holding Companies
Topline Result Review (Apr 12, 2018) PTC
11-April-2018
Topline Market Review Apr 11, 2018
Pakistan Automobiles – Mar 2018 Auto Sales +9% YoY (-1% MoM) – In-line with expectation
10-April-2018
Topline Market Review Apr 10, 2018
9-April-2018
Topline Market Review Apr 9, 2018
6-April-2018
Topline Market Weekly Review Apr 6, 2018)
Pakistan Comp Sheet (Apr 6, 2018)
Pakistan Economy – Tax Amnesty
Pakistan Consumer – Profitability up 24% YoY in Dec 2017
5-April-2018
Topline Market Review Apr 5, 2018
International Steel (ISL) – Earnings Revised downward, ‘Buy’ maintained
4-April-2018
Topline Market Review Apr 4, 2018
Flash Note Apr 4, 2018 (Fertilizer Data)
3-April-2018
Topline Market Review Apr 3, 2018
Pakistan Economy – Life with IMF & its Likely Impact
Topline Result Review (Apr 3, 2018) HASCOL
2-April-2018
Topline Market Review Apr 2, 2018
Pakistan Textiles – Sector Profitability flat during 2QFY18
30-Mar-2018
Topline Market Weekly Review Mar 30, 2018)
Topline Flash Note (Mar 30 2018) Monetary Policy
29-Mar-2018
Topline Market Review Mar 29, 2018
28-Mar-2018
Topline Market Review Mar 28, 2018
27-Mar-2018
Topline Market Review Mar 27, 2018
Pakistan Cement – Highest Ever Monthly Sales of 4.5mn tons in March, up 14% YoY
26-Mar-2018
Topline Market Review Mar 26, 2018
Topline Flash Note (Mar 26, 2018) HBL Conference Call Notes
22-Mar-2018
Topline Market Weekly Review Mar 22, 2018)
Pakistan Fertilizer – Pricing Momentum Looks Supprtive Market Weight Maintained
Pakistan Bank – Sector Profits down 4% YoY in 2017
21-Mar-2018
Topline Market Review Mar 21, 2018
Topline Result Review (Mar 21, 2018) IGIIL
Topline Result Review (Mar 21, 2018) AICL
20-Mar-2018
Topline Market Review Mar 20, 2018
Pakistan Strategy – Surprised PKR devaluation Good for the market
Topline Flash Note (Mar 20, 2018) Rupee Devaluation
19-Mar-2018
Topline Market Review Mar 19, 2018
Topline Result Review (Mar 19, 2018) DAWH
Topline Result Review (Mar 19, 2018) HBL
Topline Result Review (Mar 19, 2018) PSMC
16-Mar-2018
Topline Market Weekly Review Mar 16, 2018)
15-Mar-2018
Topline Market Review Mar 15, 2018
14-Mar-2018
Topline Market Review Mar 14, 2018
13-Mar-2018
Topline Market Review Mar 13, 2018
12-Mar-2018
Topline Market Review Mar 12, 2018
Pakistan Automobiles – Feb 2018 Auto Sales +15% YoY (-4% MoM) – In-line with expectation
International Industries (INIL) – Beneficiary of construction and auto sector boom
9-Mar-2018
Topline Market Weekly Review Mar 9, 2018)
8-Mar-2018
Topline Market Review Mar 8, 2018
Topline Flash Note (Mar 8, 2018) BAFL Conference Call Notes
7-Mar-2018
Topline Market Review Mar 7, 2018
Flash Note Mar 7, 2018 (Fertilizer Data)
6-Mar-2018
Topline Market Review Mar 6, 2018
5-Mar-2018
Topline Market Review Mar 5, 2018
Pakistan Politics – Senate Elections – PML-N gains highest seats as expected
Pakistan Oil Marketing – Sales down 18% YoY in Feb 2018; 8MFY18 sales drop 3%
2-Mar-2018
Topline Market Weekly Review Mar 2, 2018)
Pakistan Comp Sheet (Mar 2, 2018)
Pakistan Cement – Sector Profits -26% YoY in 2QFY18
1-Mar-2018
Topline Market Review Mar 1, 2018
Topline Flash Note (Mar 1, 2018) Pakistan Cement
TRG Pakistan (TRG): 2QFY18 LPS at Rs0.6, flat YoY
28-Feb-2018
Topline Market Review Feb 28, 2018
Topline Result Review (Feb 28, 2018) PKGS
Pakistan Cement – Sales up 9% YoY in Feb 2018
27-Feb-2018
Topline Market Review Feb 27, 2018
Topline Result Review (Feb 27, 2018) PPL
26-Feb-2018
Topline Market Review Feb 26, 2018
Topline Result Review (Feb 26, 2018) SNGP
23-Feb-2018
Topline Market Weekly Review (Feb 23, 2018)
Topline Result Review (Feb 23, 2018) NML
Topline Result Review (Feb 23, 2018)
Topline Flash Note (Feb 23, 2018) HUMNL Investor Briefing Session
22-Feb-2018
Topline Market Review Feb 22, 2018
Pakistan Politics – As Expected, Court Removes Mr. Sharif as Party Head
Topline Flash Note (Feb 23, 2018) PAEL
Topline Result Review (Feb 22, 2018) MARI
21-Feb-2018
Topline Market Review Feb 21, 2018
Topline Result Review (Feb 21, 2018) PSO
Topline Flash Note (Feb 21, 2018) ENGRO Analyst Briefing Notes
Topline Result Review (Feb 21, 2018) ENGRO
20-Feb-2018
Topline Market Review Feb 20, 2018
Topline Result Review (Feb 20, 2018) NBP
Topline Flash Note (Feb 20, 2018) NBP Analyst Briefing Notes
Topline Result Review (Feb 20, 2018) DGKC
19-Feb-2018
Topline Market Review Feb 19, 2018
Topline Result Review (Feb 19, 2018) OGDC
Topline Flash Note (Feb 19, 2018) OGDC Conference Call Notes
Topline Result Review (Feb 19, 2018) UBL
Topline Result Review (Feb 19, 2018) ASTL
16-Feb-2018
Topline Market Weekly Review (Feb 16, 2018)
Topline Result Review (Feb 16, 2018) MLCF
15-Feb-2018
Topline Market Review Feb 15, 2018
Topline Result Review (Feb 15, 2018) MCB
14-Feb-2018
Topline Market Review Feb 14, 2018
Topline Result Review (Feb 14, 2018) BAHL
Topline Result Review (Feb 14, 2018) PTC
13-Feb-2018
Topline Market Review Feb 13, 2018
Pakistan Banks – Pension Case Impact Lower than Expectation
12-Feb-2018
Topline Market Review Feb 12, 2018
Topline Result Review (Feb 12, 2018) EFOODS
Pakistan Automobiles – Jan 2018 Auto Sales +13% YoY (+22% MoM) – Record monthly sales
9-Feb-2018
Topline Market Weekly Review (Feb 9, 2018)
8-Feb-2018
Topline Market Review Feb 8, 2018
Topline Result Review (Feb 8, 2018) EFERT
7-Feb-2018
Topline Market Review Feb 7, 2018
6-Feb-2018
Topline Market Review Feb 6, 2018
Pakistan Politics – Senate Elections – Why so important this time
2-Feb-2018
Topline Market Weekly Review (Feb 2, 2018)
Pakistan Comp Sheet (Feb 2, 2018)
Bank of Punjab (BOP) – Initiating coverage with a ‘Sell’
1-Feb-2018
Topline Market Review Feb 1, 2018
Topline Result Review (Feb 1, 2018) TRG
31-Jan-2018
Topline Market Review Jan 31, 2018
Topline Result Review (Jan 31, 2018) IGIIL
Topline Flash Note (Jan 31, 2018) TRG
30-Jan-2018
Topline Market Review Jan 30, 2018
Topline Result Review (Jan 30, 2018) FFC
29-Jan-2018
Topline Market Review Jan 29, 2018
Topline Flash Note (Jan 29, 2018) HASCOL
26-Jan-2018
Topline Market Weekly Review (Jan 26, 2018)
Topline Flash Note (Jan 26, 2018) Economy
Topline Result Review (Jan 26, 2018) FFBL
Topline Result Review (Jan 26, 2018) LUCK
25-Jan-2018
Topline Market Review Jan 25, 2018
24-Jan-2018
Topline Market Review Jan 24, 2018
Topline Result Review (Jan 24, 2018) POL
Pakistan Cement – Cement Expansions in Punjab hit snag
23-Jan-2018
Topline Market Review Jan 23, 2018
Topline Result Review (Jan 23, 2018) HCAR
Topline Result Review (Jan 23, 2018) ISL
22-Jan-2018
Topline Market Review Jan 22, 2018
19-Jan-2018
Topline Market Weekly Review (Jan 19, 2018)
18-Jan-2018
Topline Market Review Jan 18, 2018
Pakistan Automobile – Curtailment of used car imports to benefit local players
Topline Flash Note (Jan 18, 2018) MLCF
17-Jan-2018
Topline Market Review Jan 17, 2018
MARI – Dismantling of Gas Price Formula Unlocking Value
16-Jan-2018
Topline Market Review Jan 16, 2018
Pakistan Banks – Advances grow by 17% in 2017; ADR improves to 53%
15-Jan-2018
Topline Market Review Jan 15, 2018
12-Jan-2018
Topline Market Weekly Review (Jan 12, 2018)
11-Jan-2018
Topline Market Review Jan 11, 2018
10-Jan-2018
Topline Market Review Jan 10, 2018
Pakistan Automobiles – Dec’17 Auto Sales +20% YoY (-9% MoM); (Inline-with expectations)
Topline Result Review (Jan 10, 2018) TRG
9-Jan-2018
Topline Market Review Jan 9, 2018
8-Jan-2018
Topline Market Review Jan 8, 2018
Pakistan Gas Marketing – Reinstate SNGP as ‘Buy’; SSGC as hold
Pakistan Cements – Record January Sales
5-Jan-2018
Topline Market Weekly Review (Jan 5, 2018)
Pakistan Comp Sheet (Jan 5, 2018)
4-Jan-2018
Topline Market Review Jan 4, 2018
Pakistan Oil Marketing – Sales -11% YoY in December; 2017 Oil Sales flat
3-Jan-2018
Topline Market Review Jan 3, 2018
2-Jan-2018
Topline Market Review Jan 2, 2018
Topline Flash Note (Jan 2, 2018) Fertilizer Data
1-Jan-2018
Topline Market Review Jan 1, 2018
29-Dec-2017
Pakistan Market Review 2017 – Fall of Stocks, Property & Currency
29-Dec-2017
Topline Flash Note (Dec 29, 2017) MLCF
29-Dec-2017
Pakistan Cements – Sales +6% YoY in Dec; 1HFY18 sales +11%
26-Dec-2017
Pakistan Market – 2017 Sectors Performance
26-Dec-2017
PIBTL – Earnings Revised Down ‘Maintain Buy’
22-Dec-2017
Pakistan Petroleum (PPL) – Upgrade to Buy
21-Dec-2017
Maple Leaf Cement (MLCF) – Upgrade to Buy
20-Dec-2017
18-Dec-2017
Pakistan Bank – Impairment for all in equity valuation, Banks Profitability will be affected in 2017
13-Dec-2017
11-Dec-2017
Pakistan Automobiles – Nov’17 Auto Sales +18% YoY (-10% MoM)
8-Dec-2017
Pakistan Comp Sheet (Dec 8, 2017)
Pakistan Strategy – 3 IPOs in 2017, 8 Lined up for 2018
Topline Flash Note (Dec 8, 2017) Rupee Devaluation
Century Paper (CEBP) – Pakistan’s Leading Paper Board Supplier
6-Dec-2017
Pakistan Energy – Declining Fuel Oil demand Impact on OMCs, IIPs & Refineries
HCAR – Earnings Revised ‘Maintain Hold’
5-Dec-2017
Pakistan Gas Marketing – Uncertainty arising from OGRA’s proposal ‘places Sui Cos. ‘Under Review’
Topline Flash Note (Dec 5, 2017) Nov Offtake Urea
30-Nov-2017
Pakistan Cements – Sales up 5% YoY in November
Pakistan Gas Marketing – OGRA proposes lower tariff regime for Gas companies
Topline Flash Note (Nov 30, 2017) – Economy
28-Nov-2017
Cherat Packaging (CPPL) – Pakistan’s Largest Cement Bag Supplier
24-Nov-2017
Pakistan Textiles – Profitability down 23% in 1QFY18 (Nov 24, 2017)
23-Nov-2017
E&Ps – Oil vol flat YoY, Gas vol -3% YoY in Oct 2017
22-Nov-2017
Topline Result Review (Nov 22, 2017) HCAR
21-Nov-2017
Pakistan Economy – Pakistan’s New Dollar Bond Issue
17-Nov-2017
Profits of non-life insurance sector down 32% in 3Q2017
15-Nov-2017
Pakistan Market – De-Rating widens peer PE discount
14-Nov-2017
Topline Flash Note (Nov 14, 2017) – Market Update
13-Nov-2017
Pakistan Automobiles – Oct’17 Auto Sales +46% YoY (+24% MoM)
10-Nov-2017
Pakistan Consumer – Profitability up 11% YoY in Sep 2017
9-Nov-2017
Market Strategy – MSCI Semi Annual Review, Pakistan Weight in MSCI EM likely to fall
7-Nov-2017
Pakistan Banks – Sector Profits down 2% YoY in 3Q2017
6-Nov-2017
Pakistan Cements – Sector Profits -3%, Pretax Profits – 15% YoY in 1QFY18
Pakistan Oil Marketing – Sales +5% YoY in Oct 2017 Below expectations
3-Nov-2017
Pakistan Comp Sheet (Nov 3, 2017)
Topline Flash Note (Nov 3, 2017) – Oct Offtake Urea
SEARL – Estimates revised upwards ‘Hold’ Stance maintained
2-Nov-2017
Pakistan Consumers – PAEL & PKGS Estimates Revised ‘BUY’ stance maintained
1-Nov-2017
DGKC – Estimates Revised Upward ‘Buy’ Stance maintained
31-Oct-2017
Pakistan Cements – Sales up 13% YoY in October
Pakistan Banks – HBL & NBP Estimates Revised Stance maintained
6-Oct-2017
Pakistan Comp Sheet (Oct 6, 2017)
8-Sep-2017
Pakistan Comp Sheet (Sep 8, 2017)
4-Aug-2017
