Pkrevenue.com

Author: Faisal Shahnawaz

  • Stocks gain 291 points amid contraction in trade deficit

    Stocks gain 291 points amid contraction in trade deficit

    KARACHI: The stocks gained 291 points on Monday amid contraction in the trade deficit and recovery in rupee value last week.

    The benchmark KSE-100 index of the Pakistan Stock Exchange (PSX) ended at 44,887 points from last Friday’s closing of 44,996 points, showing an increase of 291 points.

    READ MORE: KSE-100 index gains 180 points amid profit-taking

    Analysts at Arif Habib Limited said that the market closed in the green zone today as the trade deficit declined to $4.1 billion during December 2021 and recovery in Pak Rupee against the dollar over last week.

    READ MORE: Pakistan’s trade deficit swells by 100% in 1HFY22

    The market opened with low volumes but the rally in cement stocks was initiated as international coal prices dropped for the third consecutive session.

    CPI for the month of Dec 2021 clocked in at 12.28 per cent YoY, highest inflation in 22 months.

    READ MORE: Headline inflation rises by 12.3% in December 2021

    In the last trading hour, across the board buying was witnessed mainly in cyclical stocks. Activity continued to remain side-ways as the market witnessed hefty volumes in the 3rd tier stocks.

    Sectors contributing to the performance include Fertilizer (+58 points), Cement (+54 points), Technology (+50 points), Engineering (+39 points) and Banks (+33 points).

    READ MORE: Dollar retreats to year end at Rs176.51

    Volumes decreased from 317.6 million shares to 195.2 million shares (-38.6 per cent DoD). Traded value also decreased by 39.8 per cent to reach US$ 36.9 million as against US$ 61.4 million.

    Stocks that contributed significantly to the volumes include PIBTL, TPLP, GGL, FNEL and CNERGY.

  • SBP introduces licensing, regulations for digital banking

    SBP introduces licensing, regulations for digital banking

    KARACHI: The State Bank of Pakistan (SBP) on Monday introduced a licensing and regulatory framework for digital banks in line with the international best practices.

    (more…)
  • TPL Properties acquires land at Korangi cantonment

    TPL Properties acquires land at Korangi cantonment

    KARACHI: TPL Properties Limited on Monday announced to complete the acquisition of 40 acre of land located in the Korangi cantonment.

    A communication received by the Pakistan Stock Exchange (PSX) revealed that the company had completed the acquisition of 40 Acres of land, located in Korangi Cantonment, adjacent to the Korangi Creek in Karachi.

    READ MORE: TPL Properties, Bahria sign MoU for tourist beach resorts

    The acquisition has been made through 100 per cent Special Purpose Vehicle (SPV), it added.

    The company will be developing a world-class mixed-use real estate development, backed by modern IT and related infrastructure, with the support of a leading international firm SSH.

    It is being designed within an environmental sustainability framework, aligned to the company’s focus of delivering on UN Sustainability Development Goals (SDGs).

    READ MORE: TPL Properties announces developing Technology Park in Sindh

    The TPL previously on December 24, 2021, announced that the Securities and Exchange Commission of Pakistan, by way of its approval Letter dated, December 23, 2021, has approved and registered the REIT Scheme namely DCCL Trustee – TPL REIT Fund I, as a Hybrid REIT Scheme.

    Upon approval of the Scheme, the Company is now aiming to attain Financial Close shortly, it added.

    READ MORE: RDA: SECP exempts banks from obtaining license

    Furthermore, on December 01, 2021, the company informed the PSX that the Securities and Exchange Commission of Pakistan, by way of its Consent Letter dated, November 30, 2021, in terms of Regulation 3(c) of the REIT Regulations 2015, has accorded its approval to TPL REIT Management Company Limited (“TPL RMC”), a wholly-owned subsidiary of TPL Properties Limited, for the registration of the proposed trust deed “TPL REIT Fund I” under the Sindh Trust Act, 2020, with an initial fund size of Rs18.35 billion to be raised from local investors and ultimately the target fund size of Rs 80 billion to be raised from local and international investors.

    The Company shall now get the Trust Deed registered under the Sindh Trust Act, 2020 and subsequently get the REIT Scheme Registered with the SECP.

    READ MORE: SECP warns against investing in fraudulent schemes

  • Dogecoin to Pak Rupee on January 03, 2022

    Dogecoin to Pak Rupee on January 03, 2022

    KARACHI: The exchange rate of Dogecoin (DOGE) in Pak Rupee (PKR) is Rs30.18 on January 03, 2022, in the open exchange market. The rate of Dogecoin has been calculated and compared with the rate Rs 30.86 on January 02, 2022.

    The rate of Dogecoin in US Dollar (USD) is $0.17 on January 03, 2022, in the open exchange market. The rate of Dogecoin has been calculated and compared with the rate $0.17 on January 02, 2022.

    Disclaimer: All data and information is provided for informational purposes only. The data has not been provided for trading purposes or financial, investment, tax, legal, accounting or other advice. In case of trading, it is advised to consult your broker or financial representative to verify pricing before executing any trade. The exchange rate does not constitute investment advice. Further, it is not a recommendation to buy, sell or hold any security or financial product.

    Dogecoin to Pak Rupee on January 02, 2022
  • Ripple to Pak Rupee on January 03, 2022

    Ripple to Pak Rupee on January 03, 2022

    KARACHI: The exchange rate of Ripple (XRP) in Pak Rupee (PKR) is Rs148.82 on January 03, 2022, in the open exchange market. The rate of Ripple has been calculated and compared with the rate Rs151.93 on January 02, 2022.

    The rate of Ripple in US Dollar (USD) is $0.85 on January 03, 2022, in the open exchange market. The rate of Ripple has been calculated and compared with the rate of $0.86 on January 02, 2022.

    Disclaimer: All data and information is provided for informational purposes only. The data has not been provided for trading purposes or financial, investment, tax, legal, accounting or other advice. In case of trading, it is advised to consult your broker or financial representative to verify pricing before executing any trade. The exchange rate does not constitute investment advice. Further, it is not a recommendation to buy, sell or hold any security or financial product.

    Ripple to Pak Rupee on January 02, 2022
  • Bitcoin to Pak Rupee on January 03, 2022

    Bitcoin to Pak Rupee on January 03, 2022

    KARACHI: The exchange rate of Bitcoin (BTC) in Pak Rupee (PKR) is Rs 8,239,709.37 on January 03, 2022, in the open exchange market. The rate of Bitcoin has been calculated and compared with the rate Rs 8,385,063.58 on January 02, 2022.

    The rate of Bitcoin in US Dollar (USD) is $46,847.21 on January 03, 2022 in the open exchange market. The rate of Bitcoin has been calculated and compared with the rate $47,313.28 on January 02, 2022.

    Disclaimer: All data and information is provided for informational purposes only. The data has not been provided for trading purposes or financial, investment, tax, legal, accounting, or other advice. In the case of trading, it is advised to consult your broker or financial representative to verify pricing before executing any trade. The exchange rate does not constitute investment advice. Further, it is not a recommendation to buy, sell or hold any security or financial product.

    Bitcoin to Pak Rupee on January 02, 2022
  • Dogecoin to Pak Rupee on January 02, 2022

    Dogecoin to Pak Rupee on January 02, 2022

    KARACHI: The exchange rate of Dogecoin (DOGE) in Pakistani Rupees (PKR) stands at Rs30.74 as of January 2, 2022, in the open exchange market.

    (more…)
  • Ripple to Pak Rupee on January 02, 2022

    Ripple to Pak Rupee on January 02, 2022

    KARACHI: The exchange rate of Ripple (XRP) in Pak Rupee (PKR) is Rs150.47 on January 02, 2022 in open exchange market. The rate of Ripple has been calculated and compared with the rate Rs150.14 on January 01, 2021.

    The rate of Ripple in US Dollar (USD) is $0.84 on January 02, 2022 in open exchange market. The rate of Ripple has been calculated and compared with the rate $0.84 on January 01, 2021.

    Disclaimer: All data and information is provided for informational purposes only. The data has not provided for trading purposes or financial, investment, tax, legal, accounting or other advice. In case of trading it is advised to consult your broker or financial representative to verify pricing before executing any trade. The exchange rate does not constitute investment advice. Further, it is not a recommendation to buy, sell or hold any security or financial product.

    Ripple to Pak Rupee on January 01, 2022
  • Bitcoin to Pak Rupee on January 02, 2022

    Bitcoin to Pak Rupee on January 02, 2022

    KARACHI: The exchange rate of Bitcoin (BTC) in Pak Rupee (PKR) is Rs8,445,762.26 on January 02, 2022 in open exchange market. The rate of Bitcoin has been calculated and compared with the rate Rs8,352,653.38 on January 01, 2021.

    The rate of Bitcoin in US Dollar (USD) is $46,859.21 on January 02, 2022 in open exchange market. The rate of Bitcoin has been calculated and compared with the rate $47,381.56 on January 01, 2021.

    Disclaimer: All data and information is provided for informational purposes only. The data has not been provided for trading purposes or financial, investment, tax, legal, accounting or other advice. In case of trading it is advised to consult your broker or financial representative to verify pricing before executing any trade. The exchange rate does not constitute investment advice. Further, it is not a recommendation to buy, sell or hold any security or financial product.

    Bitcoin to Pak Rupee on January 01, 2022
  • Dogecoin to Pak Rupee on January 01, 2022

    Dogecoin to Pak Rupee on January 01, 2022

    KARACHI: The exchange rate of Dogecoin (DOGE) in Pak Rupee (PKR) is Rs30.56 on January 01, 2022 in open exchange market. The rate of Dogecoin has been calculated and compared with the rate Rs30.64 on December 31, 2021.

    The rate of Dogecoin in US Dollar (USD) is $0.17 on January 01, 2022 in open exchange market. The rate of Dogecoin has been calculated and compared with the rate $0.17 on December 31, 2021.

    Disclaimer: All data and information is provided for informational purposes only. The data has not provided for trading purposes or financial, investment, tax, legal, accounting or other advice. In case of trading it is advised to consult your broker or financial representative to verify pricing before executing any trade. The exchange rate does not constitute investment advice. Further, it is n not a recommendation buy, sell or hold any security or financial product.

    Dogecoin to Pak Rupee on December 31, 2021