PSX stays bearish, loses 265 points

Stock-Exchange

ISLAMABAD   –   The 100-index of the Pakistan Stock Exchange (PSX) con­tinued with bearish trend on Friday, losing 265.57 points, a negative change of 0.41 percent, closing at 65,151.83 points against 65,417.40 points the previ­ous trading day. A total of 208,408,686 shares valuing Rs.7.149 billion were traded during the day as compared to 389,654,899 shares valu­ing Rs. 11.307 billion the last…

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Pakistan Petroleum Limited Successfully Tests Gas Well in Adam D&PL Area, Boosting Energy Sector Amid Crisis

PPL-achieves

Pakistan Petroleum Limited (PPL) announced on Tuesday the successful drilling and testing of a gas well in the Adam D&PL Area, located in the Hala Block of Sindh province. The company disclosed this development in a notice to the Pakistan Stock Exchange (PSX). Operating with a 65 percent stake in the block, PPL described the Adam-2 well as a challenging…

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Shanghai Electric extends deadline for K-Electric deal by 90 days

K-Electric

KARACHI: China’s Shanghai Electric Power Company Limited (SEP) has extended its deadline to buy a majority stake in K-Electric Limited (KEL) by 90 days, the brokerage house managing the deal said on Monday. SEP, which agreed to acquire 66.40 percent of KEL’s shares for $1.77 billion in 2016, has faced delays in obtaining regulatory approvals from both China and Pakistan.…

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Mari Petroleum discovers gas reserves in North Waziristan

Mari-Petroleum

Mari Petroleum Company Limited (MARI), one of the largest producers of natural gas in the country, has discovered gas reserves at Shewa-2 well, located in North Waziristan district Khyber Pakhtunkhwa. The development was shared by the company in its notice to the Pakistan Stock Exchange (PSX) on Thursday. “We are pleased to inform that Mari Petroleum Company Limited (MARI) has…

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Pakistan Stock Exchange Honors Top 25 Companies for Excellence in 2022

Pakistan-Stock

In a prestigious event, the Pakistan Stock Exchange (PSX) recently unveiled the winners of the highly anticipated Top 25 Companies Awards for the year 2022. The awards celebrate businesses that have demonstrated outstanding financial performance, operational excellence, and a commitment to sustainability and ESG initiatives.The Top 25 Companies Awards highlight PSX’s commitment to steering listed companies toward financial growth while…

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Engro Polymer and Chemicals inks gas supply deal with SSGC

ENGRO-1

Engro Polymer and Chemicals Limited (EPCL), a subsidiary of Engro Corporation, said on Wednesday it has entered into an interim agreement with Sui Southern Gas Company Limited (SSGC) for the supply of gas till February 29, 2024. The company shared the development in a notice to the Pakistan Stock Exchange (PSX) on Thursday. The company said that the gas will…

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PRL signs licence deals with Honeywell UOP, Axens for refinery upgrade

PRL-eyes

KARACHI: Pakistan Refinery Limited (PRL) has signed pivotal license agreements with global technology providers Honeywell UOP and Axens for its ambitious Refinery Expansion and Upgrade Project (REUP), the company said on Tuesday. “PRL has signed pivotal license agreements with renowned industry leaders Honeywell UOP and Axens, for its ambitious REUP,” the PRL said in a filing to the Pakistan Stock…

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