Day: December 21, 2020

KARACHI: Pakistan Stock Exchange (PSX) has announced the recipients of the Top 25 Companies Awards for the year 2019, a statement said on Monday.

As per tradition, the criteria for selecting such companies was also updated and upgraded in 2019 in line with the evolving business environment and requirements.

For the said year, the pre-requisites included a minimum distribution of 30 percent (including at least 15 percent cash dividend), shares traded 50 percent of the total trading days during the year, and that the company is not in the Defaulters’ Segment of the Exchange or trading in its shares have not been suspended on account of violation of Listing Companies & Securities Regulations of the Exchange during the said year.

The Top 25 Companies Award is a tradition at Pakistan Stock Exchange which goes back to 1978. Historically, the best performing listed companies in Pakistan are awarded this distinction.

Broadly speaking, companies which have outperformed others in the spheres of corporate governance, financial performance, and have added to shareholder value based on specific quantitative criteria, amongst other factors, make it to the Top 25 Companies List.

This award takes into account the excellent performance metrics of such companies and recognizes the able guidance of their boards and strong management.

By awarding and recognizing such role models, Pakistan Stock Exchange seeks to promote more such listed companies to come to the fore and make their rightful claim on the award by virtue of their excellent performance and contribution to Pakistan’s economy.

On the announcement of the Top 25 Companies Awards recipients, the MD & CEO of Pakistan Stock Exchange, Farrukh H. Khan, stated, “Top 25 Companies Award is the most prestigious recognition of overall corporate performance in Pakistan. I would like to congratulate all the companies that have achieved this distinction for 2019.

“They are leaders and role models for other corporates to emulate. These companies have created tremendous shareholder value, contributed significantly to Pakistan’s economy and have projected a positive image of Pakistan globally.”

He further stated, “I am also excited to share that for the year 2020, PSX has further improved the criteria for the Top 25 Companies award to take into account current trends and developments in the investment industry. This includes focus on total shareholder returns rather than just dividends, reporting on diversity and sustainable development goals (SDGs), amongst others changes.“

In 2019, the distribution of marks awarded to the companies was based on the criteria of Capital Efficiency (20.5 percent marks), Dividend Distribution including Bonus (20 percent marks), Growth in Operating Revenue (6 percent marks), Change in EBITDA Margin (6 percent marks), Free-float of Shares (10 percent marks), Turnover of Shares (2.5 percent marks), Corporate Governance & Investor Relation (35 percent marks). This brings the total to 100 percent marks signifying the different criteria for selecting companies for the Top 25 Companies Awards.

The companies that made it to the Top 25 Companies Awards list in 2019, in order of their performance ranking, are:

1. Fauji Fertilizer Company Limited

2. Nestle Pakistan Limited

3. Lucky Cement Limited

4. Habib Bank Limited

5. Archroma Pakistan Limited

6. Engro Fertilizers Limited

7. Security Papers Limited

8. Bank AL Habib Limited

9. United Bank Limited

10. Colgate – Palmolive (Pakistan) Limited

11. Mari Petroleum Company Limited

12. Attock Petroleum Limited

13. Dawood Hercules Corporation Limited

14. Pakistan Oilfields Limited

15. Bata Pakistan Limited

16. International Industries Limited

17. MCB Bank Limited

18. International Steels Limited

19. Millat Tractors Limited

20. Agriautos Industries Limited

21. Engro Corporation Limited

22. EFU General Insurance Limited

23. ZIL Limited

24. AGP Limited

25. Gadoon Textile Mills Limited

In the challenging economic environment faced by Pakistan in view of the coronavirus pandemic, the recognition of these companies by Pakistan Stock Exchange will not only bring them the attention of local and foreign investors, analysts and portfolio managers but will also cast a positive light on Pakistan’s business, economic and financial sectors, locally as well as globally.

KARACHI: The stock market ended down by 407 points on Monday owing to lower oil prices in international markets after lockdown fears on fast spread of coronavirus.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 43,334 points as against 43,741 points showing a decline of 407 points.

First day of the rollover week met the vengeance of international crude oil prices, which fell by more than 5 percent during the trading hours today (due to lock-down fears in the developed countries).

Scrips that are the subject of rollover largely performed well as against the main board.

E&P sector saw heavy selling pressure, followed by Bank and Cement sectors primarily due to profit booking as was observed on Friday when the Index virtually touched base with 44,000 level. Among scrips, WTL topped the volumes with 36.5 million shares, followed by TRG (35.1 million) and ICIBL (30.9 million).

Sectors contributing to the performance include E&P (-178ps), Banks (-92 points), Cement (-45 points), Fertilizer (-36 points) and Autos (-23 points).

Volumes increased from 482.6 million shares to 516.3 million shares (+7 percent DoD). Average traded value however, declined by 5 percent to reach US$ 139.7 million as against US$ 147.6 million.

Stocks that contributed significantly to the volumes include WTL, TRG, ICIBL, PRL and PAEL, which formed 28 percent of total volumes.

Stocks that contributed positively to the index include PAKT (+14 points), SRVI (+14 points), FFC (+9 points), TRG (+9 points) and KTML (+8 points). Stocks that contributed negatively include OGDC (-69 points), PPL (-60 points), HBL (-33 points), ENGRO (-32 points) and POL (-31 points).