Tag: Stock Market news

PSX Will Suspend Trading GTECH
Economy

GTECH Shareholders Will Receive 0.3 Shares of GCIL

GTECH shareholders will receive 0.3 shares of GCIL Based on the proposed merger between GTECH and GCIL, the SWAP ratio is 0.30 shares of GCIL for each share of GTECH, as described by GTECH. Tax Up to 500% On Imported Cars to Protect Domestic Industry The right to issue GCIL shares to GTECH shareholders is […]

Interloop earnings jump 85% in Q1 2023
Economy

Interloop earnings jump 85% in Q1 2023

Interloop earnings jump 85% in Q1 2023 Interloop Limited (ILP), a textile and apparel export company, posted a profit of Rs 4.96 billion in the first quarter of fiscal year 2022-23, beating industry expectations. According to the company’s financial results, profit increased by 85 percent compared to Rp 2.69 billion recorded in the same period […]

Maple Leaf profits 2.2 Times Despite Higher Coal Prices
Economy

Maple Leaf profits 2.2 Times Despite Higher Coal Prices

Maple Leaf profits 2.2 times despite higher coal prices Maple Leaf Cement Factory Limited (MLCF) profitability increased 2.2times in the first quarter of fiscal year 2023 despite higher coal prices and less sales, the company said in a filing. First UDL Modaraba Fully Merged with UDLI Company share price gains 73 paisa or 2.63% after […]

First UDL Modaraba Fully Merged with UDLI
Economy

First UDL Modaraba Fully Merged with UDLI

First UDL Modaraba fully merged with UDLI On Monday, First’s UDL Modaraba’s board of directors (FUDLM) approved the conversion of FUDLM into a corporation through a merger with and into UDL International Limited (UDLI), the company’s stock market filing showed Monday. Sterling strengthens as rate on Government bonds fall The Board also approved and confirmed […]

Largest Cement Producer Begins Shares Buyback
Economy

Largest Cement Producer Begins Shares Buyback

Largest Cement Producer Begins Shares Buyback Lucky Cement Limited, Pakistan’s largest cement producer, acquired 90,000 voting shares at PKR 511.86 per share at redemption on October 11, 2022, according to the company’s IPO filing. The Directors of Lucky Cement Limited, in their meeting on August 25, 2022, approved the purchase/buyback of a maximum of 10,000,000 […]

SECP is Revising Rules for Effective Takeover of Listed Companies
Economy

SECP is Revising Rules for Effective Takeover of Listed Companies

SECP is revising rules for effective takeover of listed companies The Securities and Exchange Commission of Pakistan (SECP) has revised the Substantial Acquisition of Shares and Takeovers Regulations 2017 to provide a transparent and efficient regime for the acquisition of significant voting shares and takeovers of companies registered on behalf of investors, especially minority shareholders. […]

SALIC interested in acquiring 30% stake in TOMCL
Economy

SALIC Interested in Acquiring 30% Stake in TOMCL

SALIC interested in acquiring 30% stake in TOMCL Pakistani meat processor The Organic Meat Company Ltd. (TOMCL) announced Wednesday that a Saudi investment firm that invests in agricultural commodities, has announced its intention to acquire a 30 percent stake in TOMCL. “We hereby inform you that the Saudi Agricultural and Livestock Investment Company (SALIC), a […]

GCIL Got Approval
Economy

GTECH Got Clearance for Calcium Carbide Plant

GTECH Got Clearance for Calcium Carbide Plant Through a letter dated 28 September 2022, the Government’s Environmental Protection Agency KP has granted permission to the Company to build a Calcium Carbide Production Facility to G3 Technologies Limited (GTECH). No Restriction on Transit Trade Transactions Authorization to open Letter of Credit (LC) for balance items of […]