Karachi Stocks closed record high led by second and third tier stocks on strong valuations. Sentiments remained bullish ahead of quarter-end earning announcements due next week. The Karachi stock market benchmark KSE-100 share index added 22.59 points or 0.12 percent to end the day at 18,636.03 points compared to 18,613.44 points of the previous day.  Stock analyst Ahsan Mehanti said consolidation in blue chips stocks continued amid concerns for fall in global commodities. Strong data on urea, DAP and cement sales for Mar ‘13, speculations ahead of upcoming SBP policy announcement and expectations of higher LDI revenues for telecom sector played a catalyst role in higher close at KSE amid concerns for rising circular debt issues in energy sector outcome for CCP levy on fertilizer companies on collusion and increasing urea prices. KSE-Allshare index up by 10.56 points or 0.08 percent to end the day at 13,209.70 points, KSE-30 share index increased by 25.38 points or 0.17 ...

Financial Results: Pakistan Refinery Limited Thirds quarter ended March 31, 2012 Loss per Share is PKR (2.56) Financial year ended Jun 30, 2012 Profit before Taxation is PKR. 456 Million Loss after Taxation is PKR. (89) Million Nine Months ended March 2012

We preview Kapco's 2QFY12 results (scheduled to be announced on February 15, 2012) and expect the company to report net profit of PKR1,380mn (EPS PKR1.57, down 24% YoY), gross profit of PKR2,663mn (up 4% YoY) and top line of PKR25,596mn (up 85% YoY). We also expect the company to announce cash dividend of PKR3/share. Target Price and Price catalyst ·          June-12 price target: PKR50.5/share on account of DDM based methodology. ·          Catalyst: Rupee devaluation and resolution of circular debt. (Source: Foundation Securities)

TODAY`S BOARD MEETING`S OF COMPANY SCHEDULED ON T I M E P L A C E TO CONSIDER 10. Pakistan Refinery Limited 15.02.2012 Wednesday 9:30 a.m. Karachi Half Yearly Accounts for the periodended December 31, 2011 11. Jubilee Life Insurance Company Limited 15.02.2012 Wednesday 10:00 a.m. Karachi Annual Accounts for the year endedDecember 31, 2011 12. JS Growth Fund 15.02.2012 Wednesday 10:30 a.m. Karachi Half Yearly Accounts for the periodended December 31, 2011 13. JS Investments Limited 15.02.2012 Wednesday 10:30 a.m. Karachi Half Yearly Accounts for the periodended December 31, 2011 14. Dawood Hercules Corporation Limited 15.02.2012 Wednesday 10:30 a.m. Karachi Annual Accounts for the year endedDecember 31, 2011...