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KAPCO’s topline grew by a massive 120 percent in the first quarter of current fiscal year 2008-09 in year-on-year terms, however, the increase was relatively subtle when compared to 4QFY08 (18 percent Quarter-on-Quarter). KAPCO’s energy increased despite a 19 percent YoY decrease in net output (2,045GWh of electricity generation in 1QFY09). The reasons were, 61 percent YoY increase in fuel bill for 1QFY09, higher index figure resulting from increased US inflation (5.3 percent YoY increase in 1QFY09) and falling rupee value. KAPCO being the only IPP in Pakistan with a power plant that has the ability to self-start in case of a countrywide blackout has 10 gas turbines that power the complex and 5 steam turbines. Eight of the 10 gas turbines can operate on residual fuel oil while all 10 can operate on both HSD and gas, thus giving the plant flexibility of using 3 different fuels to generate electricity, namely natural gas, LSFO and HSD, analyst of power sector said in the report.The incre...

The Karachi stock market managed to close in the green zone on Thursday, but the low activity persisted on account of discount rate hike of 200bps by State Bank to counter inflation and higher government borrowings, analysts said.The Karachi Stock Exchange (KSE) 100-share index gained a modest 0.95 points to close at 9,184.09 points as compared with 9,183.14 points of the previous session. The KSE 30 index shed 22.06 points to close at 9,981.93 points as compared to 10,003.99 points of the previous session. The KMI 30 index also remained unchanged at 11,224.18 points. The market turnover fell 9.58 percent and traded 0.66 million shares as compared to 0.73 million shares traded in the previous session. The overall market capitalization declined 0.07 percent and traded Rs 2.827 trillion as against Rs 2.829 trillion of the previous session. Out of 18 companies, two closed in positive zone, five in negative while 11 remained unchanged. Like previous sessions, futures market continued to r...

One of the cards of two Karachi Stock Exchange (KSE) members, whose brokerage houses defaulted, is auctioned at Rs 55 million on Thursday.According to a director of board of exchange, MMM a commodity, which mainly operates in rice trading secured the card by offering the highest bid among the four bidders.KSE invited the bids from individuals and eligible corporate bodies, financial institutions/banks (local & foreign) couple of days back for sale of cards of Sikandr Ismail Bagsara and Ismail Abdul Shakoor, who defaulted on failure to honour their debt obligations. The bids were invited after the KSE Board endorsed the Nov 6 decision of the National Clearing Company of Pakistan (NCCPL) which had declared Bagasra Securities (Pvt) Limited, and Ismail Abdul Shakoor Securities (Pvt.) Limited, both Corporate members of the KSE, as "defaulter" under regulations.According to the NCCPL, the final loss remaining unsettled by Bagasra stood at Rs 51.4 million as on the close of bus...