FM Report

JINNAH UNIVERSITY OF WOMEN
SUBMITTED TO: FAIZAN MAQBOOL

GROUPS MEMBERS:
AFSHEEN KHAN
AREEBA IMTIAZ
MEHWISH ALMAS
NAIMA NAVAID
SAIRA IQBAL
CLASS: BBA 3RD (B)
COURSE: FINANCIAL MANAGEMENT
DATE OF SUBMISSION: 11th-NOVEMBER-2014
FINAL REOPRT
FINANCIAL MANAGEMENT
ACKNOWLEDGEMENTS
We are highly gratified to Allah, for giving us the opportunity and the resources to be able to do
something productive with our lives. Without His blessings we would not have been able to come
as far as we have.
And after that we want to express our gratitude towards our teacher Mrs. Faiza Maqbool Shah who
constantly guided us in taking efforts for completing this report, Mrs Faiza was the one who helped
us understanding different variable affecting the stock prices, she guided us throughout in
completion of this report.
We also gratefully acknowledge our all group members who worked on the value of being organize
and corporate a lot on every step of making this report possible.
Last but not the least we would like to thank our families for their incessant support and approval
and classmates for being a good support throughout.
TABLE OF CONTENTS
EXECUTIVE SUMMARY
INTRODUCTION OF REPORT
PURPOSE OF REPORT
FACTORS AFFECTING STOCK MARKET
INTRODUCTION OF BANK ALFALLAH
ANALYSIS OF BANK ALFALLAH
GRAPHICAL REPRESENTATION OF BANK ALFALLAH
INTRODUCTION OF GLAXO SMITH KLINE
ANALYSIS OF GLAXO SMITH KLINE
GRAPHICAL REPRESENTATION OF GLAXO SMITH KLINE
INTRODUCTION OF FATIMA FERTILIZERS
ANALYSIS OF FATIMA FERTILIZERS
GRAPHICAL REPRESENTATION OF FATIMA FERTILIZERS
INTRODUCTION OF NISHAT MILLS
ANALYSIS OF NISHAT MILLS
GRAPHICAL REPRESENTATION OF NISHAT MILLS
INTRODUCTION OF SHUKARGANJ MILLS
ANALYSIS OF SHUKARGANJ MILLS
GRAPHICAL REPRESENTATION OF SHUKARGANJ MILLS
COMPARITIVE REPRESENTATION OF STOCK PRICES OF DIFFERENT
INDUSTRIES
RECOMMENDATIONS
CONCLUSION
REFERENCES
EXECUTIVE SUMMARY
This report provides a complete insight about factors influencing the stock market and reasons behind
the bearish and bullish trends of the stock market at particular.
The report represents tabular and graphical representation which reflects the fluctuating share prices
of different companies of different industries. Five different companies which includes Bank Al-fallah,
GSK, Nishat Mills, Fatima Fertilizers and Shukargunj Mills are been evaluated on the basis of two
months data starting from Aug 25,2014 to Oct 25,2014.
The report also discuss, detailed analysis upon the variables which includes political, economic, and
fundamental factors that influence the fluctuations in stock market and share prices.
The purpose of this report includes demonstration of factors influencing the stock market. Analyze the
stock prices on economic parameters, to understand the trend of secondary market, to deal with the
risk of investment and to know that how companies and organization play a vital role in the economy
by issuing shares in the secondary market. And how they can improve their positions in the market in
the long run and what measures government could take in favoring them.
Moreover, the report provides recommendations over improving the political situation, encouraging
foreign investments minimize inflationary pressures. And recommendations also ponder light over
quality and marketing maintenance for sectors as pharmaceutical, chemical fertilizers and textile and
sugar mills.
The report, concludes that the main factor behind our flattening of stocks was the disturbed political
situation at first and secondly the reduced foreign investment. Some other factors includes rising
currency devaluation and the falling value of the Pakistani rupee against the US dollar, inflationary
pressures, uncertain law-and-order situations and unfriendly regulatory regimes for the sectors effects
on the all companies financial results and the profits and dividends of companies are reduced which
may result into decline in stock prices and it is the major cause of concern.
Government should make efforts in improving the political situation and in maintain a balance
between the inflationary pressures, interest rates etc. so, Pakistan may attain economic and political
stability and may enjoy encouraging rate of investment in the country which may contribute in
prosperity of the country.
INTRODUCTION TO REPORT
This report represents tabular and graphical representation which reflects the fluctuating share
prices of different companies of different industries.
Five different companies which includes Bank Al-fallah(Banking Sector), GSK(Pharmaceutical) , Nishat
Mills (Textile) , Fatima Fertilizers(Chemical) and Shukargunj Mills (Sugar Mills) are been evaluated on
the basis of two months data starting from Aug 25,2014 to Oct 25,2014.
The report also discuss, detailed analysis upon the variables and reasons affecting the fluctuation in
stock market and share prices.
PURPOSE OF REPORT:
The purpose of this report includes demonstration of factors influencing the stock market. Analyze
the stock prices on economic parameters, to understand the trend of secondary market, to deal with
the risk of investment and to know that how companies and organization play a vital role in the
economy by issuing shares in the secondary market. And how they can improve their positions in the
market in the long run and what measures government could take in favoring them.
FACTORS AFFECTING THE PRICES OF STOCK:

1.
Political factor is the most important factor while choosing to select in which stock
exchange (Like Karachi Stock Exchange, New York Stock Exchange, Bombay Stock Exchange)
you should invest. It depends on country situation, political environment and government
policy regarding infrastructure development, education, health etcIf there is political stability
then it will give good impact on investors preferences.
2.
Sentimental factor ask with individual how much risk you can take??? Are you risk averse
or risk taker? If you are thinking to invest for a long term and you are risk averse then you
should invest in blue chips companies which are fundamentally strong and technically sound.
3.
Fundamental Factor play the most important role while you are selecting in which stock
you should invest. Is it fundamentally strong or weak? The answer of this question, you come
to know when you do fundamental analysis of that stock. It includes ratio analysis, profit
statements etc.
4.
Technical Analysis tells at which price we should buy the stock. For this purpose we
need to do a technical analysis of that stock.
5.
Economic Factor is one of the important factors which affect stock market in a positive
or negative way, includes variables as interest rate, inflation rate, exchange rate, GDP rate etc.
ECONOMIC OVERVIEW
Pakistan has important strategic endowments and
development potential. The country is located at the
crossroads of South Asia, Central Asia, China and the
Middle East and is thus at the fulcrum of a regional
market with a vast population, large and diverse
resources, and untapped potential for trade. The
increasing proportion of Pakistans working-age
population provides the country with a potential
demographic dividend but also with the critical challenge
to provide adequate services and increase employment.
Pakistan faces significant economic, governance and security challenges to achieve durable
development outcomes. The persistence of conflict in the border areas and security challenges
throughout the country is a reality that affects all aspects of life in Pakistan and impedes
development. A range of governance and business environment indicators suggest that deep
improvements in governance are needed to unleash Pakistan's growth potential.
Pakistan also faces significant economic challenges. The sharp rise in international oil and food
prices, combined with recurring natural disasters like the 2010 and 2011 floods had a devastating
impact on the economy. As Pakistan recovered from the 2008 global crisis, its gross domestic
product (GDP) grew 3.8 percent in Fiscal Year 2009/2010 (FY09/10). The 2010 floods, with an
estimated damage of over $10 billion, caused growth to slow down to 2.4 percent in FY10/11. The
Pakistan economy grew by an estimated 3.7 percent in 2011/12, against the pre-flood targeted
growth rate of 4.2 percent. Inflation declined, but continued its four-year run in double digits, and
the fiscal deficit is also estimated to have reached about 8 percent of GDP, double than budgeted,
fueled in part by continuing energy subsidies. On a more positive side, exports remained mildly
positive and strong remittances crossed the $13 billion mark for the first time. In addition, recent
efforts to remove tax exemptions and broaden the tax base contributed to higher tax revenues,
though the revenue to GDP ratio remains low at about 10 percent.
Accelerating progress in human development remains the key underpinning for sustained economic
gains. The Net Enrollment Rates in education have been increasing in Pakistan but still lag behind
other South Asia countries. Infant and under five mortality rates represent a similar story. Gender
disparities persist in education, health and all economic sectors. Pakistan has one of the lowest
female labor force participation rates in the region. Nutrition also remains a significant crosscutting challenge, as 44% of children under five are stunted. Despite the worrying state of
education and health, especially amongst the poor, the resource allocation as a percentage of the
GDP remained low. Pakistan is ranked as one of the lowest spenders on education and health in
the region (at about 2% of GDP). At the current rate of progress, it will be difficult for Pakistan to
meet the MDG targets on health and education by 2015.
Poverty gains of over the past decade have been impressive but may be difficult to
sustain. Pakistan saw a decline in poverty trends, with the poverty rate falling from 34.5 percent in
2001/02 to an estimated 17.2 percent in 2007/08. Over the past few years there have been signs
that poverty levels may have further decreased, despite the downturn in the economy, floods and
inflation. These gains might have been supported primarily through remittances, faster than
expected recovery of the agricultural output and exports following the floods, and broad
economic growth. While Pakistans overall level of inequality remains steady and relatively low
compared to other developing countries, some of the volatile border regions and some rural areas
within the other provinces have a higher than average level of poverty.
Over the past couple of years, greater decision-making authority has been assigned to provincial
governments. The Eighteenth Constitutional Amendment has devolved a number of key functions
to the provinces. In total, functions in seventeen federal ministries have been devolved, including
Agriculture, Education, Environment, and Health. In addition a greater share of revenues has been
passed to the Provinces through the National Finance Commission Award (NFC) in order to enable
them to perform these functions. As expected, the devolution has posed institutional and capacity
challenges at the provincial level, and meeting these challenges will require concerted efforts to
enhance sub-national capacity and institutional development, which varies across provinces.
COMPANY INFORMATION
The Bank Alfalah belongs to Commercial Bank Industry of Pakistan. Banking in Pakistan first formally
started in Pakistan during the period of British colonialism in the South Asia. After independence from
British Raj in 1947, and the emergence of Pakistan as a country in the globe, the scope of banking in
Pakistan has been increasing and expanding continuously. Pakistan's oldest bank is the State Bank of
Pakistan, which is also the central bank of the nation. Before independence on August 14, 1947, the
Reserve Bank of India was the central bank of what is now Pakistan. After independence, Muhammad
Ali Jinnah took actions to establish a central bank in Pakistan which resulted in the new founding of the
State bank of Pakistan, with its headquarters to be based in Karachi.
Bank Alfalah Limited is the 6th largest private bank in Pakistan owned by the Abu Dhabi Group. Bank
Alfalah Limited was incorporated on June 21st, 1992 as a public limited company under the Companies
Ordinance 1984. Its banking operations commenced from November 1st, 1997. The bank is engaged in
commercial banking and related services as defined in the Banking companies ordinance, 1962.
Bank Alfalah conducts business through a network of 471 branches across 163 cities in Pakistan with
the registered office at B.A.Building, I.I.Chundrigar in Karachi and with an international presence in
Afghanistan, Bangladesh, Bahrain and a representative office in the UAE. The Bank provides financial
solutions to consumers, corporations, institutions and governments through a broad spectrum of
products and services, including corporate and investment banking, consumer banking and credit,
securities brokerage, commercial, SME, agri-finance, Islamic and asset financing. The bank is committed
to combine all it s energies and resources to bring high value, security and satisfaction to its customers,
employees and shareholder.
The Bank has invested in revolutionary technology to have an extensive range of products and services.
This facilitates commitment to a culture of innovation and seeks out synergies with client and service
providers to ensure uninterrupted services to it customers. Bank Alfalah looks ahead with optimism at
the future it aims to continue investing in its core strengths to provide best in class products and
services to its diverse range of clients.
VISION
To be a premier financial services organization, operating both locally and globally, offering a complete
range of financial products and services to diverse segments under one umbrella.
MISSION
To develop & deliver the most innovative products and deliver exceptional service quality which
contribute to strengthening brand equity strength and maximize value for the stakeholders of the Bank.
SHARE PRICES OF BANK ALFALAH LIMITED

DATE
25-Aug-2014
26-Aug-2014
27-Agu-2014
28-Aug-2014
29-Aug-2014
1-Sep-2014
2-Sep-2014
3-Sep-2014
4-Sep-2014
5-Sep-2014
8-Sep-2014
9-Sep-2014
10-Sep-2014
11Sep-2014
12-Sep-2014
15-Sep-2014
16-Sep-2014
17-Sep-2014
18-Sep-2014
19-Sep-2014
22-Sep-2014
23-Sep-2014
24-Sep-2014
25-Sep-2014
26-Sep-2014
29-Sep-2014
30-Sep-2014
1-Oct-2014
DAY
Monday
Tuesday
Wednesday
Thursday
Friday
Monday
Tuesday
Wednesday
Thursday
Friday
Monday
Tuesday
Wednesday
Thursday
Friday
Monday
Tuesday
Wednesday
Thursday
Friday
Monday
Tuesday
Wednesday
Thursday
Friday
Monday
Tuesday
Wednesday
OPEN
27.50
26.98
27.07
27.03
26.86
27.68
27.82
28.71
28.7
28.83
28.2
28.39
28.57
28.6
28.51
28.64
28.76
28.81
28.84
28.65
28.35
28.94
28.83
29.1
29.06
29.03
28.52
28.38
HIGH
27.84
27.1
27.09
27
28.05
27.89
29
29.1
29.2
28.97
28.55
28.74
28.89
28.7
28.86
28.85
28.99
28.95
29.54
28.85
29
29
29.24
29.51
29.43
28.9
28.65
28.6
LOW
26.92
26.75
26.5
26.21
27.13
27.01
27.99
28.51
28.7
28
28.25
28.31
28.5
28.3
28.6
28.5
28.62
28.76
28.57
28.28
28.41
28.55
28.9
29
28.75
28.4
28
28.3
CLOSING
26.98
27.07
27.03
26.86
27.68
27.82
28.71
28.7
28.83
28.2
28.39
28.57
28.6
28.51
28.64
28.76
28.81
28.84
28.65
28.35
28.94
28.83
29.1
29.06
29.03
28.52
28.38
28.51
CHANGE
-0.83
0.09
-0.04
-0.17
0.82
0.14
0.89
-0.01
0.13
-0.63
0.19
0.18
0.03
-0.09
0.13
0.12
0.05
0.03
-0.19
-0.30
0.59
-0.21
0.27
-0.04
-0.03
-0.51
-0.14
0.13
VOLUME
1,284,500
465,000
1,569,500
1,256,500
2,955,000
1,105,000
4,447,500
2,430,500
3,155,000
2,770,500
582,000
2,214,500
1,327,000
1,329,500
2,580,500
1,902,000
3,596,000
2,573,000
8,507,000
2,922,000
2,806,500
1,058,500
3,058,000
3,516,000
2,850,500
1,635,500
2,581,500
1,699,000
2-Oct-2014
Thursday
28.51
29.83
28.5
29.63
1.12
18,079,500
3-Oct-2014
Friday
29.63
29.9
29.3
29.39
-0.24
4,620,500
9-Oct-2014
Thursday
29.39
29.32
29.1
29.23
-0.16
2,143,000
10-Oct-2014
Friday
29.23
29.4
29.1
29.28
0.05
3,745,500
13-Oct-2014
Monday
29.28
29.75
29.28
29.58
0.30
8,317,500
14-Oct-2014
Tuesday
29.58
29.88
29.5
29.61
0.03
6,627,500
15-Oct-2014
Wednesday
29.61
29.74
29.1
29.26
-0.35
3,089,000
16-Oct-2014
Thursday
29.26
29.3
29.01
29.04
-0.22
1,006,500
17-Oct-2014
Friday
29.04
29.35
28.75
28.78
-0.26
1,361,000
20-Oct-2014
Monday
28.78
29
28.6
28.75
-0.03
922,500
21-Oct-2014
Tuesday
28.75
29
28.66
28.79
0.04
1,315,500
22-Oct-2014
Wednesday
28.79
29.2
28.8
28.92
0.13
1,622,500
23-Oct-2014
24-Oct-2014
Thursday
Friday
28.92
29.12
29.4
29.48
29
29.15
29.12
29.19
0.20
0.07
2,523,000
3,018,000
ANALYSIS OF BANK ALFALAH LIMITED

ANALYSIS OF THE LAST WEEK OF AUGUST:
This week had the stock price of Rs. 26.98 in the beginning, increase by Rs.0.09 but decreased by
Rs.0.04 and Rs.0.17on 3rd and 4th day respectively, but increased for the last days by Rs.0.82.Tthe stock
price stayed at Rs.27.68.
The average price of this week was Rs.27.124.
REASONS:
During last week of august BAFL face ups and down in market share prices due to the ongoing
political deadlock in Karachi.
The market remained bearish; the market lost 304 points by Friday 29. Investors were on sidelines.
The rupee became volatile and continued to lose value against the US dollar, touching Rs103 per.
Bank Alfalah is all set to announce its financial result in august. They announced 1H 2014 profits of
Rs. 2.6billion compared to Rs. 1.9 billion in 1H 2013. After announcement of financial result more
investors attracted towards Bank Alfalah.
Warid telecom and bank Alfalah limited have announced the launch of their marketing campaign for
brand less banking service under the brand name of mobile paisa in Pakistan during August which
was resulted in increase of share prices after one week of this announcement.
During August Bank Alfalah limited reported 2nd quarter of 2014 earnings of 1.10 billion per share.
Shortage of investment in Islamic banking impacted overall performance of bank badly due to this
reason in last week of August share prices decreased.
After all we analyze that in the last week of August Bank Alfalah faced many issues due to which the
performance of Bank Alfalah was not well and share prices of august is less than as compared to
September and October.
ANALYSIS OF THE FIRST WEEK OF SEPTEMBER:
The month started with the stock price of Rs.27.82, increased by Rs.0.14. while increased by Rs.0.89
and then decrease by Rs.0.01 on the 3rd and 4th day respectively. The overall week was good for the
shareholders as well as the company and the week ended with the stock price of Rs.28.2.
The average stock price of this week was Rs.28.452. while the stock had gained the value by Rs.0.38
throughout the week.
REASONS:
The stock market entered recovery mode after five straight weeks of decline as the improving
political situation resulted in the KSE-100 index climbing 946 points.
Investors adopted the bearish trend of the market but trading of shares was encouraging as
compared to last weeks.
Due to encouragement in foreign activity $18.65 million worth of equity was bought during the week
which leads the traded volume almost doubled as compared to start of the week.
Although volumes were low as compared to previous week but share prices showed somehow a
Positive fluctuation.
Inflation increased to 7.88% than 6.99% in august, this may also be a reason behind the variation of
the prices of bank Alfalah at the end of the week and reached to Rs.28.2 because when inflation
increases investors activity remains bearish as the per unit cost increases.
ANALYSIS OF THE 2ND WEEK OF SEPTEMBER:
The beginning of this week had the stock price of Rs.28.39 on the 1st day, price decreased. Then on
next day increased to Rs.28.57 and then there is a slightly variation till the end of the week. The week
ended with the stock price of Rs.28.64.
The average stock price of this week was Rs.28.542 which is greater than the average price of stock in
week-1 because this week had the low price variations.
REASONS:
Market grasped bullish trend, and soared 531 points.
Overall the week remained proceeding profitable for investors.
On 9th September 2014 Bank Alfalah posted strong earnings primarily due to higher net interest
income, backed by increase proportion in PIBs, and impact of DR hike fully reflected on the banks
asset side and share price moved towards positive manner.
This week management of Bank Alfalah also provide its view on Islamic banking because in last
month less investment in Islamic banking suffer overall performance of Bank Alfalah and also
highlight the great potential in these areas at the same time, however management caption to
deployment of excess liquidity because of the contracting Ijarah Sukuk market as a key challenge
facing the industry.
Heavy buying in banking sector was the highlight of second week as investors shrugged off the
ongoing political tension and return to purchasing stocks due to which share prices continuously
increased and shows bearish market trend. and Bank Alfalah ranked amongst top gainers.
ANALYSIS OF THE 3RD WEEK OF SEPTEMBER:
The stock in this week began with the price of Rs.28.76, increased on 1st on day and had an increasing
trend till the 3rd day of this week and reached at Rs.28.84 while on 4th day it decreased by Rs.0.19 and
on the last day, it reached on Rs.28.35. The stock had lost its value by Rs.0.41 in this week.
The average stock price of this week was Rs.28.682 which is greater than the average price of week-1
and week-2 as well.
REASONS:
The market trend remained bearish.
On the 3rd week of September the banking sector claimed its stake as the majority of banks share
prices climbed following the PIB auction in which yield were on the higher sides.
With results season nearly over, lack of news flow towards the market before the Eid is likely to keep
the market dull and dry but Bank Alfalah share prices are moved on positive manner.
On September 18, 2014, IFC, a member of the World Bank group, and Bank Alfalah limited, one of
the Pakistans leading bank have reached an agreement on IFCs proposed $67 million investment in
Bank Alfalah by subscribing to 15% equity investment in the bank to help it to increase access to
finance in Pakistan.
Reasons in fluctuation of prices include the political influence of anti-government protests.
Heavy decrease in foreign investment by $18.7 million that results as almost 20% may also be one of
the reasons of decrease in stock prince to Rs. 28.35.
The State Bank of Pakistan announced the monetary policy, for the next two months, over the
previous weekend and kept the discount rate unchanged at 10% resulting in a collective yawn as the
decision was widely expected.
ANALYSIS OF THE 4TH WEEK OF SEPTEMBER:

This week started with the stock price of Rs.28.94 and decreased on 2nd day while on the 3th day, it
increased with the high difference of Rs. 0.27 and on the last, decreased by Rs0.03 which shows the
variations till end of the week.
The average price of stock was Rs.28.99 in the last week which was very high than the average price of
all the weeks.
REASONS:
Overall market remained flat, investors showed the bearish attitude while market resulted slightly
favorable in account of Bank Alfalah at third day of the week.
Lack of triggers of change in discount rate, growing political tension along with mixed corporate
results and declining foreign buying were the major causes of the indexs decline, which influenced
share prices of Bank Alfalah as well.
Due to upcoming Eid holidays market remained dry.
During 1st, 2nd, 23rd and 4th week of September Bank Alfalah is included in top 10 volume leaders.
After analyzing month of September we perceive that this is good month for Bank Alfalah because
its share prices were constantly increased.
ANALYSIS OF THE 1ST WEEK OF OCTOBER:

The beginning of the month had the stock price of Rs.28.51. the first two days stock price increased but
decreased in 3rd. And the week ended with the price of Rs.29.39. The stock has gained its value with a
margin of Rs.0.88 in this week.
The average stock price of this week was Rs.29.208 which is greater as compared to the weeks of
September.
REASONS:
First week of October had a bearish affect, investors remained sideways.
Share prices of Bank Alfalah fluctuated marginally.
State Bank of Pakistan also announced that it would raise Rs1.4 trillion during the second quarter of
the current fiscal year through PIBs and T-Bills.
Foreign investment was up to 9.4 million due to which market wasnt that flattened.
Interest cost has been curtailed despite strong growth in average deposit and increase in minimum
rate on saving deposits at this month.
On 3rd October foreign reserves improved, reach $13.4 billion.
ANALYSIS OF THE 2ND WEEK OF OCTOBER:
This week market is closed for 1st 3 days due to Eid holidays. The stock price started with Rs.29.23
while increased on 2nd day by 0.05. The closing price at the last day of this week was Rs.29.28. The
stock has gained some of its value in this week.
The average price is Rs.29.255 which is somehow high than the stock price of 1st week.
REASONS:
During this week of October the KSE were closed due to Eid vacations for 1st three days.
Again the market adopted bearish trend, only two days after the holidays shares were traded
amongst with bank Alfalah gained moderately each day.
10
The cause of having risen in stock price is due to the economic condition was good right after the
Eid-ul-Azha because of high consumption of different product. People spent money on this occasion
which benefited the companies which caused the appreciation in stock prices.
Banking sector strong jumped during 2nd week of September.

Interest cost has been curtailed despite strong growth in average deposit and increase in minimum
rate on saving deposits at this month.
The banking sector took certain stage following the revelation of inflation numbers for September
which clocked in higher than expected at 7.68% as compare to 7% in august.
The market remained flattened as foreign investment decreased to $6.2 million.
Delay in IMF disbursements also kept the market over all pressurized.
ANALYSIS OF THE 3RD WEEK OF OCTOBER:
The stock price in the beginning of this week was Rs.29.58, increased by Rs.0.03 while on the 2nd day,
increased by Rs.0.03. then decreased for the next three days by Rs.0.26 and stayed at the price of
Rs.28.78.
The average price of this week was Rs.29.254 which is almost same as the last week. The company
shows the variations in prices and loses the value of stock to Rs.0.8.
REASONS:
The third week of October KSE-100 index followed negative trend and dropped by 275 points (-1%)
during the week which may be the reason share prices experienced of bank Alfalah the bearish
trend throughout the week.
Foreigners turned sellers during the week, after a long gap of nine weeks, with net foreign selling
clocking in at USD8.99mn during the week relative to buying of USD9.4mn in the preceding week.
The result season will be in full swing as earnings announcement of major stocks across banking;
E&Ps, autos and pharmaceutical sectors are linedup for next week.
11
ANALYSIS OF THE 4TH WEEK OF OCTOBER:

This week had the stock price of Rs.28.75 in the beginning, increased by Rs.0.04 and then continuously
increased throughout the week by Rs.0.13, Rs.0.20 and Rs.0.7 respectively and the stock price reached
at Rs29.19.
The average price of this week was Rs.28.954. It is good for the company that the stock price again
getting its position as in September and gained a value of Rs.0.44.
REASONS:
The stock market remained relatively stable this week with a mix of news like uninspiring corporate
result announcements and a stabilizing political situation .
The share prices of bank Alfalah increases encountering an upward movement throughout the week.
Global economic conditions were largely positive.
Volumes throughout the week were on a steady incline, rising 24%, as in the last two days more
than 190 million shares were traded in comparison to Mondays tally of 127 million. Average daily
value rose 18% during the week
In the 3rd and 4th week of October share prices are continuously moving in positive manner.
The banking sector dominated trading activities for the majority of week.
During this month, Bank Alfalah is included in top ten volume leaders again.
12
CONCLUSION OF THREE MONTH ANALYSIS:

Once analyzing share prices of Bank Alfalah Limited I recognized the innovation and improvement had
played very important role in increasing the share prices of Bank Alfalah. Wicked political and law and
order situation negatively affected the whole share prices of market. But during last two months Bank
Alfalah was become successful in appealing investors in increasing share prices due to its relation and
partnering with other popular companies.
GRAPH OF SHARE PRICES FOR 25 OF AUGUST TO 24 OF SEPTEMBER:
29.5
29
28.5
28
27.5
27
26.5
26
25.5
25 AUGUST -24 SEPTEMBER Bank Alfalah
INTERPRETATION:
The graph represents the gradual upward movement of Bank Alfalah share prices.
GRAPH OF SHARE PRICES FOR 25 SEPTEMBER TO 24 OF OCTOBER:
35
30
25
20
15
10
5
24-Oct
23-Oct
22-Oct
21-Oct
20-Oct
19-Oct
18-Oct
17-Oct
16-Oct
15-Oct
14-Oct
13-Oct
12-Oct
11-Oct
10-Oct
09-Oct
08-Oct
07-Oct
06-Oct
05-Oct
04-Oct
03-Oct
02-Oct
01-Oct
30-Sep
29-Sep
28-Sep
27-Sep
26-Sep
25-Sep
25 AUGUST -24 SEPTEMBER Bank Alfalah
INTERPRETATION:
The graph represents the stable movement in the share prices of Bank Alfalah while market remains
closed on 6th to 8th October due to Eid holidays.
13
COMPANY INFORMATION
Glaxo SmithKline is belonging from the Pharma and Bio Technology Industry of Pakistan. Pakistan has
a very vibrant and forward looking Pharma Industry. The Pakistan Pharma industry is relatively young in
the international markets with an export turnover of over US$ 100 Million as of 2007. The Pakistan
Pharmaceutical Industry is a success story, providing high quality essential drugs at affordable prices to
Millions. Technologically, strong and self reliant National Pharmaceutical Industry is not only playing a
key role in promoting and sustaining development in the vital field of medicine within the country, but
is also well set to take on the international markets.
Glaxo SmithKline Pakistan is one of the leading pharmaceutical companies in Pakistan and is the
world's second largest company high-ranking stands for Employee Cares. GSK Pakistan equation was
formed when Beecham, Glaxo welcome and Smith Kline, all having a big name in the pharmaceutical
market and that were separate entities before, merged in 2002. The advent of todays leading researchbased pharmaceutical company started with individual entrepreneurs of the 1800s.
GSK International is a United Kingdom -based pharmaceutical, biological, and healthcare company. It is
the world's second largest pharmaceutical company and a research-based company with a wide
portfolio of pharmaceutical products covering anti-infective, central nervous system (CNS), respiratory,
gastro-intestinal metabolic, oncology, and vaccines products. It also has a Consumer Healthcare
operation comprising leading oral healthcare products, nutritional drinks, and over the counter (OTC)
medicines. GSK is a leading manufacturer of medicines and dietary supplements. It also takes part in
the manufacture of day to day use products, for example, hand sanitizers, hygienic wipes etc.
VISION
GlaxoSmithKline's vision is inspiring:
The opportunity to make a difference to the lives of billions of people.
At GSK we perform in unison, by following our value system and ethical guidelines as a source of
guidance and inspiration, which helps us achieve our vision.
Each and every member of the GSK family plays a vital role in improving the quality of human life. GSKs
growth and development can be attributed to the contribution of the skills, talents and ideas of its
people.
MISSION
GlaxoSmithKlines quest is to improve the quality of human life by enabling people to
DO MORE, FEEL BETTER, LIVE LONGER.
At GSK our mission acts as an underlying principle to whatever we do. We follow a legacy of great
science and innovative healthcare that provides people around the world with healthier and fulfilled
lives, every single day.
14
SHARE PRICES OF GSK

DATE
DAY
OPEN
HIGH
LOW
CLOSING
VOLUME
CHANGE
25-Aug-2014
26-Aug-2014
27-Agu-2014
28-Aug-2014
29-Aug-2014
1-Sep-2014
2-Sep-2014
3-Sep-2014
4-Sep-2014
5-Sep-2014
8-Sep-2014
9-Sep-2014
10-Sep-2014
11Sep-2014
12-Sep-2014
15-Sep-2014
16-Sep-2014
17-Sep-2014
18-Sep-2014
19-Sep-2014
22-Sep-2014
23-Sep-2014
24-Sep-2014
25-Sep-2014
26-Sep-2014
29-Sep-2014
30-Sep-2014
1-Oct-2014
2-Oct-2014
3-Oct-2014
9-Oct-2014
Monday
Tuesday
Wednesday
Thursday
Friday
Monday
Tuesday
Wednesday
Thursday
Friday
Monday
Tuesday
Wednesday
Thursday
Friday
Monday
Tuesday
Wednesday
Thursday
Friday
Monday
Tuesday
Wednesday
Thursday
Friday
Monday
Tuesday
Wednesday
Thursday
Friday
Thursday
157.21
155
152.9
151.5
156.5
158.01
158.98
167.25
162.9
160.01
159.7
165.01
174.8
169
172.4
177.6
181.3
191.5
189.45
186.5
185.26
185.1
188.7
202.05
201.05
198.25
195.8
202.5
203
203.01
158.98
156.29
154
153.74
159.72
161.9
166
168.75
163.1
163.99
164.85
172.15
175.4
173.39
179.98
183.01
191.33
193
190
190
188
193.71
199.2
206.74
201.99
200.25
201.98
204.65
205.8
206.5
155
152.01
148.1
149.06
151.1
153.31
158.98
161.11
158.55
157.01
159
165.01
166.15
166.49
171
176.51
181.3
187.3
183.6
185.53
184.01
184.5
187.5
196.3
194.01
194
194.85
196.9
201.51
202
155
152
153
152
159
158.28
165.61
162.08
159.71
157.74
164
172
167
172
179
182
191
188
187
186
184
190
197
201
197
195
201
200
203
203
209800
158300
226900
123600
1036100
223500
677800
1042800
306700
1076800
1052000
1542000
1219600
1116900
1565300
1042700
2546100
1231200
870100
699300
683600
2672900
3604200
3542500
988300
721800
850500
1756400
976400
657300
-4.35
-2.98
1.04
-1.37
7.19
-1.03
7.33
-3.53
-2.37
-1.97
6.22
8.12
-4.73
4.97
6.69
3.21
8.69
-2.48
-1.67
-0.78
-1.49
5.23
7.18
4.05
-4.33
-1.94
6.32
-0.51
2.53
-0.13
202.99
206.24
201.56
203
1206100
0.26
10-Oct-2014
Friday
13-Oct-2014
14-Oct-2014
15-Oct-2014
Monday
Tuesday
Wednesday
203.7
205.73
212.24
210.4
210.74
219.99
203.01
205.5
212
205
209.52
219.18
2655400
2106800
4652400
1.47
4.9
9.66
218
221.75
214.5
216.52
2496500
-2.66
16-Oct-2014
Thursday
216
220.2
213.11
216.75
1219700
0.23
17-Oct-2014
Friday
20-Oct-2014
21-Oct-2014
Monday
Tuesday
217.51
223.45
221.85
226.6
217.5
219
218.14
223.78
1008100
1804800
1.39
3.11
224
227.6
222.01
224.22
1015200
0.44
22-Oct-2014
Wednesday
23-Oct-2014
24-Oct-2014
Thursday
Friday
225.7
227.85
157.21
227.9
229.25
158.98
222.55
216.01
155
227.02
219.34
155
687400
1078700
209800
2.8
-7.68
-4.35
15
ANALYSIS OF GLAXOSMITHKLINE
LAST WEEK MARKET TREND OF AUGUST:
The month ends with the stock price of Rs.155, decreased by Rs.2.98. while increased by Rs.1.04 and
again decreased by Rs.1.37 on the 3rd and 4th day respectively. The overall week face slightly
variations. While the stock gain the value of Rs.4 at the end of the week and the week ended with the
stock price of Rs.159.
The average stock price of this week was Rs.154.2.
ANALYSIS:
The last week of august remained a crucial week for pharmaceutical as well, GSK due to the ongoing
political deadlock entered its third week resulting in the decrease in prices of GSK.
GSK also announce half yearly report and declared profit of Rs. 792,670,000/- which showed impact
on share prices to fluctuate from Friday onwards.
The market remained bearish, investors were on sidelines. The rupee became volatile and continued
to lose value against the US dollar, touching Rs103 per.
After all we analyze that in the last week of August Bank Alfalah faced many issues due to which the
performance of Bank Alfalah was not well and share prices of august is less than as compared to
September and October.
FIRST WEEK MARKET TREND OF WEEK OF SEPTEMBER:
next day increased to Rs.165.61 and then decreased till the end of the week. The week ended with the
stock price of Rs.157.74.
The average stock price of this week was Rs.160.684 which is greater than the average price of last
month stock due to change in volume.
ANALYSIS:
The stock market entered recovery mode after five straight weeks of decline as the improving
political situation resulted in the KSE-100 index climbing 946 points.
Investors adopted the bearish trend of the market but trading of shares was encouraging as
compared to last weeks.
By the end of the week the prices of GSK lowered this may be due to an influence by overall slow
market trend due to the news of the Chinese premier putting off his visit to Pakistan in which several
major investment deals were expected to be completed.
16
The traded volume was almost doubled as compared to last week due to encouragement in foreign
activity $18.65 million worth of equity was bought during the week.
Although volumes were high as compared to previous week but share prices showed somehow a
negative fluctuation which may be due to the falling worth of rupee as compared to dollar.
Inflation increased to 7.88% than 6.99 in august, this may also be a reason behind diminishing prices
of GSK because when inflation increases investors activity remains bearish as the per unit cost
increases.
SECOND WEEK MARKET TREND OF SEPTEMBER:
The stock in this week began with the price of Rs.164, increased on 1st & 2nd on day and had a
decreased on 3rd day of this week. While on 4th day it increased by Rs.4.97 and on the last day, it
reached on Rs179. The stock had gained its value by Rs.15 in this week which is good for company and
shareholders. .
ANALYSIS:
Market grasped bullish trend, and soared 531 points.
On Wednesday, 10 sep the prices steeped this may be due to increment by government in tariffs by
7% as requested by IMF, increasing tariffs makes the foreign goods expensive that may lead to higher
imported cost of raw material.
Overall the week remained proceeding profitable for investors.
Pharmaceutical remained in limelight as a result of bearish market trend and GSK ranked amongst
top gainers.
17
THIRD WEEK MARKET TREND OF SEPTEMBER:

This week started with the stock price of Rs.182 and increased on 2nd day and then decreased till the
end of the week but stock gained a value of Rs.4 on the last,
Basically the trend of stock price was diminishing throughout the week.
The average price of stock was Rs.186.8 in the last week which was greater than the average price of
the last weeks.
ANALYSIS:
In the 3rd week of September GSK awarded by the best corporate and sustainability report in 2013.
As compared to last two weeks of improvement, this week GSK prices recovered in first two days but
got flattened the rest of the days.
Reasons include the political influence of anti-government protests.
Secondly, the damages caused by floods in our agricultural sector.
The market trend remained bearish.
Heavy decrease in foreign investment by $18.7 million that results as almost 20% may also be one of
the reasons.
No bullish activity was noticed; as the interest rates announced in the monetary policy were revised
as 10% the market remained flattened.
FOURTH WEEK MARKET TREND OF SEPTEMBER:
This week started with the stock price of Rs.1824and increased throughout the week and closed on
Rs.201 and gained value of Rs.17.
Basically the trend of stock price was increasing throughout the week.
The average price of stock was Rs.195.
ANALYSIS:
Overall market remained flat, investors showed the bearish attitude while market resulted slightly
favorable in account of GSK at second third and fourth day of the week.
Lack of triggers of change in discount rate, growing political tension along with mixed corporate
results and declining foreign buying were the major causes of the indexs decline, which influenced
share prices of GSK as well.
Due to upcoming Eid holidays market remained dry.
18
FIRST WEEK MARKET TREND OF OCTOBER:

The month started with the stock price of Rs.200, decreased by Rs.0.51. while increased by Rs.2.53 on
the 2rdh day respectively. The overall week experienced bearish trend. The week ended with stock
price of Rs.203.
ANALYSIS:
First week of October had a bearish affect, investors remained sideways.
Share prices of GSK fluctuated moderately.
Foreign investment was up to 9.4 million due to which market wasnt that flattened.
State Bank of Pakistan also announced that it would raise Rs1.4 trillion during the second quarter of
the current fiscal year through PIBs and T-Bills.
The market remained dry due to Eid holidays.
SECOND WEEK MARKET TREND OF OCTOBER:
The market traded for only two days, it started on Thursday with stock price of Rs. 203 followed by Rs.
205 with an increase of Rs. 1.47.
ANALYSIS:
Again the market adopted bearish trend, only two days after the holidays shares were traded
amongst with GSK gained moderately each day.
Whereas the rest of the market opened on a negative note following the Peshawar High Courts
decision in the previous week that blocked the sale of shares in Oil and Gas Development Company
Limited.
The market remained flattened as foreign investment decreased to $6.2 million.
Delay in IMF disbursements also kept the market over all pressurized.
19
THIRD WEEK MARKET TREND OF OCTOBER:

The week started with the stock price of Rs. 209.52, and experienced the largest gain on Tuesday with
stock price of Rs 219.18, the week ended with the stock price of Rs. 218.14 with traded volume of
1008100 shares.
ANALYSIS:
The third week of October remained a good week for GSK because GSK made two announcements
for investors which included investors comprehensive report and key financials of GSK.
GSK share prices experienced the bullish trend throughout the week.
This increase in prices may also be due to upcoming results of pharmaceutical sector.
GSK remained in top gainers.
Reason may also be improved foreign reserves up to $13.4bn.
FOURTH WEEK MARKET TREND OF OCTOBER:
The week started with the stock price of Rs. 220.67 throughout the week the trading of shares
remained satisfactory but on Friday due to the uncertain political situation the stock price steeped to
Rs. 219 from Rs.227 with a decrease of Rs. 7.6 the traded volume of shares was 1078700.
ANALYSIS:
result announcements and a stabilizing political situation.
The share prices of GSK remained stabilized encountering an upward movement throughout the
week, as GSK announced its third quarter profit. Pharmaceutical sector remained stabilized. High
volumes represents greater quantity of shares traded by investors in secondary market.
Except for the last day, the share prices of GSK took a steep this was majorly due to the showd own
of political power by the incumbent ruling party of Sindh over the weekend created a political drama
where young political leader of PPP targeted all the political partiers and provided the masses with a
policy guideline affect deeply on the market or due to call of Pakistan Awami Tehreek.
20
250
200
150
100
Price
50
24-Sep
23-Sep
22-Sep
19-Sep
18-Sep
17-Sep
16-Sep
15-Sep
12-Sep
11-Sep
10-Sep
9-Sep
8-Sep
5-Sep
4-Sep
3-Sep
2-Sep
1-Sep
29-Aug
28-Aug
27-Aug
26-Aug
25-Aug
INTERPRETATION:
The graph represents the gradual upward movement of GSK share prices.
GRAPH OF SHARE PRICES FOR 25 OF SEPTEMBER TO 24 OF OCTOBER:
230
220
210
200
190
180
170
INTERPRETATION:
The graph represents the relative increment in share prices of GSK after 11 October whereas it
elaborates a slight downward movement in start of October and end of September this may be due
to Eid holidays when the market remain slow and the political deadlock.
CONCLUSION ANALYSIS:
The conclusion demonstrates that, as pharmaceutical sector is one which maintains relatively high
share prices. GSK maintained stabilized position it experienced an uplift in the prices mostly as
prescribed by the given data analysis, only at some instances it encountered a down shift which may
be due to mainly the disturbed political situation, devaluation of rupee and discouragement in
foreign investment .
21
COMPANY INFORMATION
The Fatima Fertilizer Company Limited was incorporated on December 24, 2003, as a joint venture
between two major business groups in Pakistan namely, Fatima Group and Arif Habib Group.
The fertilizer complex is a fully integrated production facility, capable of producing two intermediate
products, i.e., Ammonia and Nitric Acid and four final products which are Urea, Calcium Ammonium
Nitrate (CAN), Nitro Phosphate (NP) and Nitrogen Phosphorous Potassium (NPK) at Sadiqabad, Rahim
Yar Khan.
The Complex has a 56MW captive power plant in addition to off-sites and utilities. The Complex has
been allocated 110 MMCFD of gas from the dedicated Mari Gas fieldsFoundation stone was laid on
April 26, 2006 by the then Prime Minister of Pakistan. The construction of the Complex commenced in
March 2007 and is housed on 950 acres of land. The Complex, when completed, is designed to
produce:
500,000 Metric Tons of Urea per Annum
420,000 Metric Tons of Calcium Ammonium Nitrate (CAN) per Annum
360,000 Metric Tons of Nitro Phosphate (NP) per Annum
420,000 Metric Tons of NPK per Annum
The Complex, during its construction phase engaged over 4,000 engineers and technicians from
Pakistan, China, USA, Japan and Europe.
The Complex provides modern housing for its employees with all necessary facilities. This includes a
school for children of employees and the local community, a medical centre and sports facilities.
The Company is listed at all stock exchanges of Pakistan, through a successful initial public offering
(IPO) in February 2010. 200 million ordinary shares were offered to the public bringing the issued Share
Capital from 1,800 million to 2,000 million shares.
Fatima Fertilizer Company Limited is the first and the only green field project which has materialized
under the 2001 Fertilizer Policy of the Government of Pakistan, aiming to encourage investors in this
field, in view of growing demand of fertilizer in the Country.
VISION
To be a world class manufacturer of fertilizer and ancillary products, with a focus on safety, quality and
positive contribution to national economic growth and development. We will care for the environment
and the communities we work in while continuing to create shareholders' value.
MISSION
To be the preferred fertilizer company for farmers, business associates and suppliers by providing
quality products and services.
To provide employees with an exciting, enabling and supportive environment to excel in, be innovative,
entrepreneurial in an ethical and safe working place based on meritocracy and equal opportunity.
To be a responsible corporate citizen with a concern for the environment and the communities we deal
with.
22
SHARE PRICES FATIMA FERTILIZER COMPANY LIMITED

DATE
25-Aug-2014
DAY
Monday
OPEN
HIGH
LOW
CLOSING
CHANGE
VOLUME
27.00
26.50
26.48
27.34
26.25
26.85
26.95
26.89
26.85
26.78
26.96
27.64
27.20
27.40
27.45
27.65
28.19
28.10
28.60
28.64
28.75
27.78
27.70
27.80
27.55
28.50
29.74
30.00
29.30
29.00
28.75
26.66
25.70
25.75
25.80
25.52
26.25
26.42
26.49
26.40
26.30
26.35
26.70
26.80
26.99
27.00
27.10
27.50
27.51
27.61
28.01
27.34
27.25
27.20
27.25
26.11
26.94
28.50
29.00
28.85
28.60
28.26
26.72
25.90
26.04
26.13
26.00
26.61
26.59
26.52
26.45
26.38
26.89
26.49
26.93
27.26
27.40
27.55
27.67
28.00
28.42
28.60
27.40
27.38
27.38
27.42
27.49
28.41
29.54
29.41
28.90
28.80
28.63
-0.25
-0.82
0.14
0.09
-0.13
0.16
-0.02
-0.07
-0.07
-0.07
0.48
0.08
-0.01
0.33
0.14
0.15
0.12
0.33
0.42
0.18
-1.20
-0.02
0.00
0.04
0.07
0.92
1.13
-0.13
-0.51
-0.10
-0.17
172000
565000
155000
473500
190500
2030000
1049000
3012500
257000
133500
1085000
1866500
2114500
700500
302000
1988000
1437500
952000
445000
46500
893500
592000
736000
817000
634000
2322000
1857000
2047000
111500
236500
115500
9-Oct-2014
Thursday
26.81
26.50
25.75
26.48
25.52
26.50
26.95
26.70
26.65
26.78
26.35
26.80
27.20
26.99
27.20
27.50
27.75
27.74
28.20
28.01
28.75
27.78
27.31
27.55
27.55
26.94
28.50
29.51
29.23
28.76
28.60
10-Oct-2014
Friday
28.52
29.00
28.52
28.76
0.13
77000
13-Oct-2014
Monday
14-Oct-2014
Tuesday
28.85
29.00
29.20
29.30
28.80
29.00
28.97
29.25
0.21
0.28
184500
216000
15-Oct-2014
Wednesday
29.25
29.35
28.55
28.79
-0.46
708500
16-Oct-2014
Thursday
28.41
29.34
28.41
29.30
0.15
548000
17-Oct-2014
Friday
29.00
29.49
28.96
29.41
0.11
683000
20-Oct-2014
Monday
21-Oct-2014
Tuesday
22-Oct-2014
Wednesday
23-Oct-2014
Thursday
24-Oct-2014
Friday
29.45
29.38
29.80
31.00
26.81
29.45
30.00
31.30
31.98
27.00
28.80
29.15
29.80
31.00
26.66
28.90
29.90
30.84
31.25
26.72
-0.43
0.92
0.94
0.41
-0.25
662700
931000
1732500
725000
172000
26-Aug-2014
Tuesday
27-Agu-2014
Wednesday
28-Aug-2014
Thursday
29-Aug-2014
Friday
1-Sep-2014
Monday
2-Sep-2014
Tuesday
3-Sep-2014
Wednesday
4-Sep-2014
Thursday
5-Sep-2014
Friday
8-Sep-2014
Monday
9-Sep-2014
Tuesday
10-Sep-2014
Wednesday
11Sep-2014
Thursday
12-Sep-2014
Friday
15-Sep-2014
Monday
16-Sep-2014
Tuesday
17-Sep-2014
Wednesday
18-Sep-2014
Thursday
19-Sep-2014
Friday
22-Sep-2014
Monday
23-Sep-2014
Tuesday
24-Sep-2014
Wednesday
25-Sep-2014
Thursday
26-Sep-2014
Friday
29-Sep-2014
Monday
30-Sep-2014
Tuesday
1-Oct-2014
Wednesday
2-Oct-2014
Thursday
3-Oct-2014
Friday
23
ANALYSIS OF FATIMA FERTILIZER COMPANY LIMITED

ANALYSIS OF THE LAST WEEK OF AUGUST:
The week started with the stock price of Rs.26.72, decreased by Rs.0.13. while increased by Rs.0.14
and Rs.0.09 on the 3rd and 4th day respectively. The overall week was not good for the shareholders as
well as the company and the week ended with the stock price of Rs.26.13.
The average stock price of this week was Rs.26.197. while the stock had losses the value by Rs.0.59
REASONS:
The company had slight variations in the prices may be caused by the stock market experienced a
stifling due to the political instability. Investors remained on the sidelines as the political impasse
showed no signs of coming to an end.
It may be because the countrys reserves decline, the rupee became instable and continued to lose
value against the US dollar, touching Rs103 per dollar at one point during the week, before the SBPs
intervention which resulted in the exchange rate falling below Rs102.
If we see the overall sector position for the week, trading volumes remained dismal as investors
adopted caution. Average daily volumes fell 4.4% and stood at 119 million shares traded per day,
while average daily values also fell 3.7% to Rs6.33 billion per day. The KSEs market capitalization
stood at Rs6.72 trillion at the end of the week.
ANALYSIS OF THE 1ST WEEK OF SEPTEMBER:
next day increased to Rs.26.61 and then slightly decreased till the end of the week. The week ended
with the stock price of Rs.26.45.
The average stock price of this week was Rs.26.434 which is greater than the average price of stock in
week-1 because this week had the low price variations.
REASONS:
Investors remained on the edge throughout the saga, with the KSE-100 index fluctuating wildly
during trading sessions, as fears of the assemblies being dissolved or a military coup taking place
remain at the back of their minds.
The political situation improving, foreigners also actively participated in the market and bought a net
of $18.65 million worth of equity during the week, more than double the $8.5 million net buying in
the previous week.
Falling value of the Pakistani rupee against the US dollar were a cause of concern for investors and
will be monitored closely moving forwards.
24
Macroeconomic indicators also played a role in the markets performance as inflation numbers for
the month of August clocked in at 6.99% as compared to 7.88% in July, prompting optimism among
investors about a potential discount rate cut in the monetary policy announcement later in the
month.
If we see the position sector wise, other companies also had less variation in the stock prices.
Therefore, the FATIMA FERTILIZER stock prices also had low variation.
Low variation in stock prices is because of low volume in the 2nd week. Sellers had to sell their shares
with the low profit because of fewer buyers in the market.
The stock in this week began with the price of Rs.26.38, decreased on 1st on day and had an increasing
trend on the 2nd day and then again decrease on the next day and again increase on 4th & 5th day of
this week and reached at Rs.27.26. The stock had gained its value by Rs.0.88 in this week.
and week-2 as well.
REASONS:
The increase in stock price might be affected by the bullish trend of the overall secondary market.
The Karachi Stock Exchange (KSE) market resumed its upward drive and continued to make up for
lost ground as the benchmark KSE-100 index soared 531 points.
With the ongoing political crisis, the government has decided against implementing unpopular
policies such as increasing the power tariff by 7% as demanded by the International Monetary Fund
(IMF).
This may be because the foreigners continued to remain buyers with net buying of $18.7 million
during the week, relatively similar to amount of shares bought during the preceding week.
And the increase in stock price on 12th September affected by the market when the KSE market had
the bullish trend.
Flood and rain effect the various sector of economy almost all sector suffer the sector that suffer
include fertilizer that down the market.
Open market witnessed slightly higher demand due to hajj.
25

This week started with the stock price of Rs.27.40 and increase on 2nd day to 5th day, it increased with
the high difference of Rs.1.02 and reached on 28.42 which is very good position for the stock.
The average price of stock was Rs.27.808 in the last week which was very greater than the average
price of all the weeks.
REASONS:
KSE had the bullish trend in the last week of September because of having bad economic and
political condition.
The good economic condition may occur due to the decreasing inflation and bullish trend in the
secondary market.
These weeks showed an improvement but this week the market recovered. The anti-government
protests again gained strength and floods wreaked have across the agricultural centers of the
country.
This week started with the stock price of Rs.28.60 while decreased on 2nd, 3rd & 4th day and then
increase at the last day of this week. The closing price at the last day of this week was Rs.27.42. The
stock has loses some of its value with a margin of Rs.1.18 in this week.
The average price is Rs.27.636 which is greater than the stock price of 1st week and showing a good
scenario for the company.
REASONS:
The Karachi Stock Exchange (KSE) market Bullish momentum loses steam as KSE stays flat this week.
The flood affect and damages the large area and clear Punjab to enter in Sindh that also damage the
fertilizer growth, and if we see this week start with the highest price and then there is low variation
in prices because of the political influence of anti-government protests and loses about 1.18.
Second consecutive week of decline in foreign buying.

The beginning of the month had the stock price of Rs29.54. the first days stock price increased but
decreased in last two days. And the week ended with the price of Rs.28.90. The stock has lost its value
with a margin of Rs.0.64 in this week.
REASONS:
The market trend is bullish, share price of this week is much high as compared to other week,
because economic condition improves, political hubbub, and economic bosses seemed to be in autopilot mode, a reflection of which is visible in the latest SBP-IBA Consumer Confidence Index (CCI)
survey. Mutual fund drives, the gain of 4.06 percent earned by KSE-100 index.
26

This week started with the stock price of Rs.27.40 and increase on 2nd day to 5th day, it increased with
the high difference of Rs.1.02 and reached on 28.42 which is very good position for the stock.
The average price of stock was Rs.27.808 in the last week which was very greater than the average
price of all the weeks.
REASONS:
KSE had the bullish trend in the last week of September because of having bad economic and
political condition.
The good economic condition may occur due to the decreasing inflation and bullish trend in the
secondary market.
These weeks showed an improvement but this week the market recovered. The anti-government
protests again gained strength and floods wreaked have across the agricultural centers of the
country.
This week started with the stock price of Rs.28.60 while decreased on 2nd, 3rd & 4th day and then
increase at the last day of this week. The closing price at the last day of this week was Rs.27.42. The
stock has loses some of its value with a margin of Rs.1.18 in this week.
The average price is Rs.27.636 which is greater than the stock price of 1st week and showing a good
scenario for the company.
REASONS:
The Karachi Stock Exchange (KSE) market Bullish momentum loses steam as KSE stays flat this week.
The flood affect and damages the large area and clear Punjab to enter in Sindh that also damage the
fertilizer growth, and if we see this week start with the highest price and then there is low variation
in prices because of the political influence of anti-government protests and loses about 1.18.
Second consecutive week of decline in foreign buying.

The beginning of the month had the stock price of Rs29.54. the first days stock price increased but
decreased in last two days. And the week ended with the price of Rs.28.90. The stock has lost its value
with a margin of Rs.0.64 in this week.
REASONS:
The market trend is bullish, share price of this week is much high as compared to other week,
because economic condition improves, political hubbub, and economic bosses seemed to be in autopilot mode, a reflection of which is visible in the latest SBP-IBA Consumer Confidence Index (CCI)
survey. Mutual fund drives, the gain of 4.06 percent earned by KSE-100 index.
27

This week had just two day transaction on which stock price stayed at Rs.28.80 to28.63 while on the
rest of the days of this week, KSE remained closed because of Eid-ul-Azha. The average price is
Rs.28.715 which is less than the stock price of 1st week.
REASONS:
The week start with the holidays of Eid-ul-Azha, the KE was closed for the three days, the company
faces the bearish trend.
The fertilizer sector got a further boost from the news that the Economic Coordination Committee
had directed the Ministries of Industries and Petroleum to provide gas to the fertilizer plants on a
top priority basis.
The market has to face political pressure and other shelling on border, delay in (IMF) disbursement
have also tried to pressurize the market.
The stock price in the beginning of this week was Rs.28.76, increased by Rs.0.13. while on the 2nd day,
increased by Rs.0.21, then decreased for the next two days and increased on the last of this week and
stayed at the price of Rs.29.30.
The average price of this week was Rs.29.014 which is more than the 2nd weeks which is good for the
shareholders and the company as well.
REASONS:
KSE-100 index followed negative trend and dropped by 275 points (-1%) during the week.
International oil prices dropped by 3% during the week and thus dragged oil stocks. , on first day the
market closed lower while on the second it showed recovery.
PPCBL also has allocated R.S 2.5 billion advancing agriculture loan for Rabi crop.
Oil production also slow down the economy.
Government of Pakistan will continue to be under immense pressure from the International
Monetary Fund (IMF).
28

This week had the stock price of Rs.29.41 in the beginning, decreased for the next day and then
increasing trend till the last day and the stock price stayed at Rs.31.25 which is highest than all the
week of October and September .
The average price of this week was Rs.30.06 which is more than all the weeks of October. It is good for
the company
REASONS:
result announcements and a stabilizing political situation.
Global economic conditions were largely positive after last weeks news of crude oil prices hitting
multi-year lows.
21-Sep
22-Sep
23-Sep
22-Oct
23-Oct
24-Oct
24-Sep
20-Sep
21-Oct
19-Sep
18-Sep
17-Sep
16-Sep
15-Sep
14-Sep
13-Sep
12-Sep
11-Sep
10-Sep
09-Sep
08-Sep
07-Sep
06-Sep
05-Sep
04-Sep
03-Sep
02-Sep
01-Sep
31-Aug
30-Aug
29-Aug
28-Aug
27-Aug
26-Aug
25-Aug
29
28.5
28
27.5
27
26.5
26
25.5
25
24.5
25 AUGUST -24 SEPTEMBER
INTERPRETATION:
The graph represents the fluctuation in the share prices of Fatima fertilizer.
20-Oct
19-Oct
18-Oct
17-Oct
16-Oct
15-Oct
14-Oct
13-Oct
12-Oct
11-Oct
10-Oct
09-Oct
08-Oct
07-Oct
06-Oct
05-Oct
04-Oct
03-Oct
02-Oct
01-Oct
30-Sep
29-Sep
28-Sep
27-Sep
26-Sep
25-Sep
35
30
25
20
15
10
5
0
25 SEPTEMBER-24 OCTOBER
INTERPRETATION:
The graph represents the stable movement in the share prices of Fatima Fertilizer while market
remains closed on 6th to 8th October due to Eid holidays.
29
.
COMPANY INFORMATION
Nishat Mills Limited is the flagship company of Nishat Group. It was established in 1951. It is one of the
most modern, largest vertically integrated textile company in Pakistan. Nishat Mills Limited has 198,120
spindles, 655 Toyota air jet looms. The Company also has the most modern textile dyeing and
processing units, 2 stitching units for home textile, one stitching unit for garments and Power
Generation facilities with a capacity of 89 MW. The Companys total export for the year 2011 was Rs.
36.015 billion (US$ 416 million). Due to the application of prudent management policies, consolidation
of operations, a strong balance sheet and an effective marketing strategy, the growth trend is expected
to continue in the years to come. The Company's production facilities comprise of spinning, weaving,
processing, stitching and power generation.
Over the Years

1951
1959
1961
1989
1992
1996
2005
2008
Nishat Mills Limited commenced its business as partnership.

The company incorporated as private limited company.
Nishat Mills Limited was listed on Karachi Stock Exchange.
The Company was listed on Lahore Stock Exchange.
The Company was listed on Islamabad Stock Exchange.
Acquired the operating assets of Nishat Tek Limited and Nishat Fabrics Limited.
Acquired the assets of Umer Fabrics Limited.
Acquired the assets of Nishat Apparel Limited.
VISION
To transform the Company into a modern and dynamic yarn, cloth and processed cloth and finished
product manufacturing Company that is fully equipped to play a meaningful role on sustainable basis in
the economy of Pakistan. To transform the Company into a modern and dynamic power generating
Company that is fully equipped to play a meaningful role on sustainable basis in the economy of
Pakistan.
MISSION
To provide quality products to customers and explore new markets to promote/expand sales of the
Company through good governance and foster a sound and dynamic team, so as to achieve optimum
prices of products of the Company for sustainable and equitable growth and prosperity of the
Company.
30
SHARE PRICES OF NISHAT MILLS

DATE
25-Aug-2014
DAY
Monday
OPEN
HIGH
LOW
CLOSING
CHANGE
-2.08
VOLUME
107.08
109.20
105.01
105.51
26-Aug-2014
27-Agu-2014
28-Aug-2014
29-Aug-2014
1-Sep-2014
2-Sep-2014
3-Sep-2014
4-Sep-2014
5-Sep-2014
8-Sep-2014
9-Sep-2014
10-Sep-2014
11Sep-2014
12-Sep-2014
15-Sep-2014
16-Sep-2014
17-Sep-2014
18-Sep-2014
19-Sep-2014
22-Sep-2014
23-Sep-2014
24-Sep-2014
25-Sep-2014
26-Sep-2014
29-Sep-2014
30-Sep-2014
1-Oct-2014
Tuesday
Wednesday
Thursday
Friday
Monday
Tuesday
Wednesday
Thursday
Friday
Monday
Tuesday
Wednesday
Thursday
Friday
Monday
Tuesday
Wednesday
Thursday
Friday
Monday
Tuesday
Wednesday
Thursday
Friday
Monday
Tuesday
Wednesday
105.51
102.48
99.38
98.57
102.92
103
107.25
111.76
113.16
113.11
112.5
112.93
112.28
113.66
114.64
114.58
116.81
116.7
115.36
114.14
113.43
118.31
122.72
120.01
118.71
117.47
105.9
102.85
100.99
103.49
103.99
107.85
112.5
114
114.05
113.87
113.15
112.84
114.5
115.95
115.14
117.1
119
116.95
115.7
114.79
119.1
123.99
123.95
124
118.97
119.99
102
98
96.8
101
100.5
104.4
107.9
111.03
112.3
112.25
112.1
112
112
114
113.55
114.7
116
115.1
113.5
113
112.31
118.5
119.51
118.01
116.5
117.02
102.48
99.38
98.57
102.92
103
107.25
111.76
113.16
113.11
112.5
112.93
112.28
113.66
114.64
114.58
116.81
116.7
115.36
114.14
113.43
118.31
122.72
120.01
118.71
117.47
119
1,355,400
1,234,000
3,692,100
1,206,900
790,500
1,390,000
1,727,300
1,626,900
1,708,500
491,600
529,500
528,100
1,220,300
2,016,400
425,300
1,199,500
1,978,300
452,900
357,100
186,900
3,903,300
5,189,100
1,579,800
924,400
184,000
1,029,600
118.41
-3.03
-3.10
-0.81
4.35
0.08
4.25
4.51
1.40
-0.05
-0.61
0.43
-0.65
1.38
0.98
-0.06
2.23
-0.11
-1.34
-1.22
-0.71
4.88
4.41
-2.71
-1.30
-0.21
1.53
-0.59
119
119.6
118.01
2-Oct-2014
Thursday
118.41
120.6
3-Oct-2014
Friday
119.59
121
118.6
119.59
1.18
1,046,100
119.5
119.78
0.19
9-Oct-2014
Thursday
1,084,800
119.78
10-Oct-2014
Friday
122.02
118.4
119.4
-0.38
532,300
13-Oct-2014
Monday
119.4
123.25
118.8
121.77
2.37
1,265,900
14-Oct-2014
Tuesday
121.77
125.69
122
124.57
2.80
2,818,600
124.57
126
123.5
124.55
-1.33
15-Oct-2014
2,065,500
Wednesday
124.55
124.99
122.52
123.22
-0.61
627,700
16-Oct-2014
Thursday
123.22
124.5
122
122.61
-1.55
184,200
17-Oct-2014
Friday
122.61
123
120.25
121.06
-0.24
489,500
20-Oct-2014
Monday
121.06
122.25
120
120.82
0.64
384,100
21-Oct-2014
Tuesday
120.82
121.95
119.26
121.46
-2.17
561,800
22-Oct-2014
Wednesday
117.46
120.85
118.3
119.29
1.52
923,700
23-Oct-2014
24-Oct-2014
Thursday
Friday
119.29
120.81
121.4
121.8
118.25
119.5
120.81
120
-0.81
1.37
286,100
199,400
823,100
518,100
31
ANALYSIS OF NISHAT MILLS

ANALYSIS OF THE LAST WEEK OF AUGUST :
Political stability and effective law & order situation in the country is essential for economic
development. Domestic and foreign investment highly depends on both political and law & order
situation.
Any instability in both can badly affect economic situation of country as well as of the Company. As
we observed that the Current political turmoil has really affected the economy, so Karachi stock
market is no different . Karachi stock Exchange showed a mixed trend mostly due to political
instability and investor distrust on the government.
The KSE-100 index decreased 1.1 percent from 28872 points to 28568 points ,mainly due to bad
political situation all around the country. which has directly affect Nishat Mill stock prices. The
Karachi shares prices dropped, As On Monday as local investors were worried over growing political
instability in the country in previous week .but Foreign investors have invested and has improved the
market down turn.
Dollar was recorded at Rs 98 in July and reached Rs 103 by the end of August while it was also
reported that remittances by Pakistanis living abroad have also declined in the wake of political
uncertainty, thus depreciating rupee against the dollar
32
ANALYSIS OF THE 1ST WEEK OF SEPTEMBER:

Karachi stock Market showed a much improved performance in this week, as compared to its
performance in last week. KSE-100 index gained 946 points, which is equal to 3.3 percent gain in the
market value .In this week Karachi stock exchange shares volume was 151,894,000 shares as
compared to the volume of 594,522,180 shares in last week.
If we talk about the reasons for the this improvement in the market performance, the most
important reason is the political unity within the Parliament against the oppositions Dharna protests
taking place outside the parliament. Another reason is the ongoing negotiations between the
government and opposition parties regarding election reforms.
Nishat Mills is direct relation to the market trend overall week was very good for the shareholders
as well as the company as it is observed that on 5th of September they have a bullish territory and
Nishat Mill share price also increase from Rs.113.16 to Rs.117.76 and it is being observed that
between that week it is his high share price .
Karachi stock exchange showed a very good performance this week, as KSE-100 index closed at
30044 points as compared to last week closure at 29513 points. KSE-100 index rose by 531 points
which is 1.8 % rise in its overall market value. The main reason for this upward movement was
investment in cement and health sector by the stock traders. We saw aggressive buying in the
cement sector with lucky cement at the top with share volume of 745000 shares in the week.
Nishat mills has being able to stabilized its share prices between Rs.112 and Rs.113 s and its
represent a strong position Nishat Mills in the market.
Investors were expecting much more rise in the Karachi Stock Market, but due to political instability,
floods and bad governance of the government and investors are still confused about the future of
the country and its economy.
As the share prices of Nishat Mills are directly affected by the investment made by DJ Khan in the
company and in this week the share prices grow from Rs.114 to Rs 116 and the price is the highest
among the 2 months and as its observed that in August it was Rs.98 that rose to Rs. 116 , by 18
points.
33
Karachi stock market showed a very poor performance this week, as KSE-100 index fell 310 points
and lost more than 1% value.KSE-100 index opened at 30015.8 points and closed at 29705 points.
According to the financial analysts poor performance is mostly due to the political instability, profit
taking, deteriorating law-order situation and upcoming Eid festival .If we talk about top performing
companies .
Following is the detail of the major performers this week. Following are the important things that
will dictate the market performance in the coming week.
Eid festival is coming in next week
Cautious behavior of the investors due to ongoing political crisis in the country
Governments plan to sell OGDCL shares in the market for the general public
Constant discount rate policy of the state bank
It seems that political uncertainty will continue in the next week too, so financial analysts are
expecting a mixed week for the investors and the stock market.
Nishat mills have an inverse relationship with the market as the share prices during the week
represent highest market share prices and that is 123 rupees it means that it is still able to grow its
market share during the huge down turn in Karachi stock market.
ANALYSIS OF 1ST WEEK OF OCTOBER (29 SEPTEMBER-3OCTOBER):
Karachi stock exchange showed a positive this week, as the KSE-100 index climbed 397.58 points.
KSE-index 100 opened at 29705.65 points on Monday and closed at 30103.23 points on Friday.
Karachi stock exchange showed a positive trend , but still economic and political situation is not
stable in the country .Investors remained defensive and careful about investing in the stocks. Stock
analysts are expecting a positive trend in the stock market after Eid holidays, but government has to
show some political maturity to solve the ongoing political crisis.
As the market has effect the share prices of Nishat Mills too as the prices increase from Rs 98 to 107
a huge upward trend within a week is reflecting a positive sign for investors.
34
Karachi stock exchange showed a very good performance this week, as KSE-100 index closed at
30044 points as compared to last week closure at 29513 points. KSE-100 index rose by 531 points
which is 1.8 % rise in its overall market value. The main reason for this upward movement was
investment in cement and health sector by the stock traders. We saw aggressive buying in the
cement sector with lucky cement at the top with share volume of 745000 shares in the week.
Karachi stock Exchange showed a mixed trend this week, mainly due to Eid holidays, political
uncertainty and short trading session of just two days.
As Nishat Mills share prices are stable in this week between Rs.119 and Rs. 120 and has directly
relation with Karachi exchange stock exchange performance as the news reported that it has good
performance.
ANALYSIS OF 3RD WEEK OF OCTOBER:
Karachi stock Exchange showed a downward slide this week, mainly due to latest slide in oil prices,
political uncertainty and profit taking by the investors. KSE-100 index started at 30158 points on
Monday and closed at 29883 points on Friday. Its value decreased by the 0.9% from Rs 7.236 trillion
to Rs 7.1708 trillion. The investors mostly showed their interest in banking, cement and auto
industry.
Nishat mills have an inverse relationship with the market as the share prices during the week
represent highest market share prices and that is Rs.124 it means that it is still able to grow its
market share during the huge down turn in Karachi stock market
Following important news affected the stock market during the week.
Tariff structure of the auto industry revised and duty also reduced for the auto industry
IMF hints at releasing additional $1.1 billion to Pakistan in the month of December this year.
Petroleum prices reduced in Pakistan
ANALYSIS OF 4TH WEEK OF OCTOBER:

Karachi Stock Exchange showed a upward movement in this week ,Mainly due to improved political
situation and investor confidence.KSE-100 index started at 30158 points on Monday and closed at
29883 points on Friday .Its value increased by the 0.7% from Rs 7.1708 Trillion to Rs 7,217 Trillion.
The investors mostly showed their interest in banking, cement and auto industry. Stock analysts are
expecting again a positive trend next week. According to the most of the analysts it is time to invest
in the Textile and Power sector, as appreciation in their stock is expected in next few weeks..
Nishat mills have a direct relationship with the market as the data reveal that the share prices of
Nishat mill are stable with Rs.120 share prices.
Following important news affected the stock market during the week.
Pakistan Awami Tehreek (PAT) ended their dharna in Islamabad.
Foreign direct investment fell by 27 percent this quarter as compared to the same quarter last year.
Large scale selling by foreign investors
35

140
120
100
80
60
40
20
0
25 AUGUST -24 SEPTEMBER NISHAT MILLS
INTERPRETATION:
The graph represents the somehow stability in share prices of Nishat mills.
140
120
100
80
60
40
20
24-Oct
23-Oct
22-Oct
21-Oct
20-Oct
19-Oct
18-Oct
17-Oct
16-Oct
15-Oct
14-Oct
13-Oct
12-Oct
11-Oct
10-Oct
09-Oct
08-Oct
07-Oct
06-Oct
05-Oct
04-Oct
03-Oct
02-Oct
01-Oct
30-Sep
29-Sep
28-Sep
27-Sep
26-Sep
25-Sep
25 SEPTEMBER-24 OCTOBER NISHAT MILLS
INTERPRETATION:
The graph represents the stable movement in the share prices of Nishat Mills while market remains
closed on 6th to 8th October due to Eid holidays.
.
36
COMPANY INFORMATION
Shakarganj Mills Limited was incorporated in Pakistan in 1967 as a Public Limited Company and is listed
on all three stock exchanges of Pakistan. Shakarganj is a leading manufacturer of food products, bio fuel
and building materials as well as textiles. We transform renewable crops such as sugarcane and cotton
into value added products comprising refined sugar, textiles, bio fuel and building materials in addition
to generating bio power from biogas. The Company has two manufacturing facilities in Jhang District.
Our registered office is in Lahore.
Shakarganj Mills, through its interest in Shakarganj Food Products Limited, is also active in production
of dairy and fruit products.
VISION / MISSION AND VALUES

To gain and maintain leadership in the industries it competes in by producing the best quality products
with lowest possible cost. To give the best returns to shareholders by optimal allocation of resources to
the products and markets the company competes in. To provide the best value products and services to
its customers through investment in technology, human resources, operational systems and processes.
To provide the best working environment to its employees and provide opportunities to them for
enhancing their skills. To work with its farmers, suppliers and distributors as partners developing their
expertise and profitability. To pursue environment friendly policies and effectively and efficiently use all
energy resources aiming for zero waste and a clean healthy environment in its vicinity. To be a socially
responsible corporate citizen supporting education, health, environment and socio-economic
development of the society.
37
SHARE PRICES OF SHAKARGANJ MILL FOODS

DATE
25-Aug-2014
DAY
Monday
OPEN
HIGH
LOW
CLOSING
CHANGE
VOLUME
14.65
14.65
14.16
14.19
-0.79
28,000
26-Aug-2014
28-Aug-2014
Tuesday
Wednesday
Thursday
29-Aug-2014
Friday
14.76
14.15
14.3
14.38
14.75
14.97
15.25
14.9
15.01
15.44
15.38
15.44
15.05
14.86
15.35
16
16.5
16.1
16.25
16
15.8
16.3
16.3
15.39
15.19
16
16
15.85
16.24
16.98
16.65
17.42
17.2
14.15
13.31
13.66
14
13.7
14.45
14.4
14.9
15
15
15
15.05
15.05
14.85
15.2
15.5
15.99
16
15.3
15.55
15.2
15
15
14.81
15
15.3
15.4
15.01
15.66
16.25
16.25
16.5
16.7
14.15
13.32
14.3
14.38
14.51
14.72
14.98
14.98
15.01
15.02
15.38
15.05
15.05
14.86
15.2
15.75
16.18
16
16.05
15.55
15.8
15.75
15.75
15.39
15
15.76
15.4
15.24
16.24
16.26
16.42
16.87
17
-0.04
-0.83
0.98
0.08
0.13
0.21
0.26
0
0.31
0.01
0.36
-0.33
0
-0.19
0.34
0.55
0.43
-0.18
0.05
-0.5
0.25
-0.08
-0.05
-0.36
-0.39
0.76
-0.36
-0.16
1
0.02
0.26
0.45
0.13
9,500
62,500
3,000
58,000
22,000
2,500
3,500
6,000
5,000
7,500
18,500
31,000
1,000
2,500
2,000
18,000
31,000
201,500
51,000
19,500
14,000
1,500
4,500
5,500
6,500
194,000
34,000
75,500
225,000
96,000
87,500
93,500
5,000
14-Oct-2014
Tuesday
14.19
14.15
13.32
14.3
14.38
14.51
14.72
14.98
14.7
15.01
15.02
15.38
15.05
15.05
14.86
15.2
15.75
16.18
16
16.05
15.55
15.8
15.8
15.75
15.39
15
15.76
15.4
15.24
16.24
16.26
16.42
16.87
15-Oct-2014
Wednesday
17
16.8
16.25
16.35
-0.65
24,000
16-Oct-2014
Thursday
16.35
16.55
16.25
16.27
-0.08
20,000
17-Oct-2014
Friday
16.27
16.74
16.3
16.4
0.13
62,000
20-Oct-2014
Monday
21-Oct-2014
Tuesday
22-Oct-2014
Wednesday
23-Oct-2014
Thursday
24-Oct-2014
Friday
16.4
16.46
14.19
14.15
13.32
16.5
16.4
14.76
14.15
14.3
16.25
16.25
14.15
13.31
13.66
16.46
16.25
14.15
13.32
14.3
0.06
-0.21
-0.04
-0.83
0.98
12,500
111,000
9,500
62,500
3,000
27-Agu-2014
1-Sep-2014
Monday
2-Sep-2014
Tuesday
3-Sep-2014
Wednesday
4-Sep-2014
Thursday
5-Sep-2014
Friday
8-Sep-2014
Monday
9-Sep-2014
Tuesday
10-Sep-2014
Wednesday
11Sep-2014
Thursday
12-Sep-2014
Friday
15-Sep-2014
Monday
16-Sep-2014
Tuesday
17-Sep-2014
Wednesday
18-Sep-2014
Thursday
19-Sep-2014
Friday
22-Sep-2014
Monday
23-Sep-2014
Tuesday
24-Sep-2014
Wednesday
25-Sep-2014
Thursday
26-Sep-2014
Friday
29-Sep-2014
Monday
30-Sep-2014
Tuesday
1-Oct-2014
Wednesday
2-Oct-2014
Thursday
3-Oct-2014
Friday
9-Oct-2014
Thursday
10-Oct-2014
Friday
13-Oct-2014
Monday
38
ANALYSIS OF SHAKARGANJ MILLS LIMITED

ANALYSIS OF THE LAST WEEK OF AUGUST :
This week had the stock price of Rs.14.19 in the beginning, while decreased by Rs.0.04 and Rs.0.83 on
1st and 2nd day respectively, but increased for the last days by Rs.0.98 and Rs 0.08 on 3rd and 4th day
respectively. The stock price ended at Rs.14.38.
The average price of this week was Rs.14.068 while the stock had gained the value by Rs.0.19
REASONS:
In the last week of August SGML encountered ups and down due to the political deadlock in Karachi.
The market remained bearish as it lost 304 points by Friday 29. The rupee became volatile and
continued to lose value against the US dollar, touching Rs103 per dollar, the decline of countrys
reserves results in decreased market share prices of SGML due to which Investors remained on the
sidelines and trade remained dismal.
ANALYSIS OF THE FIRST WEEK OF SEPTEMBER:
The month started with the stock price of Rs.14.51 increased by Rs.0.13 and Rs.0.21 on 1st and 2nd day
of the week, and then increased by Rs.0.26 on the 3rd and 4th day respectively. The overall week was
good for the shareholders as well as the company and the week ended with the stock price of Rs.15.01.
The average stock price of this week was Rs.14.84 while the stock had gained the value by Rs.0.5
REASONS:
Trading of shares was boosting as compared to last weeks although investors adopted the bearish trend
of the market. The political condition of stabilized which recover stock market resulted KSE-100 index
climbing 946 points. Foreign activity was encouraged by $18.65 million which improved the trade
volume comparatively last few weeks. Due to Inflation price of Food items rose which include sugar
(2.02pc) and gur (1.15pc). The export was decline in many sectors including SGML.
The beginning of this week had the stock price of Rs15.02 on the 1st day with price increased by Rs
0.01, then increased by Rs.0.36 ,while decreased by Rs 0.33 on 3rd and 4th day respectively. The week
ended with the stock price of Rs.15.05.
The average stock price of this week was Rs.15.125,while the stock had gained by Rs 0.03 which was
less than week-1.
REASONS:
The week was profitable for investors and trading was remain improved, while market adopted bullish
trend and KSE-100 index soared 531 points. In this week there was ongoing political crisis as well as
flood damages in Punjab results in loss by many food producing sectors but no loss in sugar or
sugarcane was found this week.
39
The stock in this week began with the price of Rs.14.86 decreased by Rs 0.19 on 1st day then increased
by Rs. 0.34 ,Rs.0.55 and Rs.0.43 on 2nd , 3rd and 4th day respectively while decreased by Rs.0.18 on
last day. The stock price ended at Rs.16.
The average stock price of this week was Rs.15.598, While the stock had gained the value by Rs.1.14
which was greater as compare to week -1 and week -2.
.
REASONS:
The rupee depreciated by about 25 paisa's against the dollar in interbank dealings and by 15 paisa's in
the open market last week The market trend remained bearish. Eid is likely to keep the market dull and
dry on the same time for SGML ,the consumption of sugar increases which improved the market share
prices for the company . Heavy decrease in foreign investment by $18.7 million that results as almost
20%.Fluctuation of prices include the political influence of anti-government protests.
This week started with the stock price of Rs.16.05 which increased by Rs 0.05, then decreased by Rs
0.5, then increased by Rs 0.25,and decreased by Rs.0.08 on 4th day. The stock price ended at Rs.15.75.
The average price of stock was Rs.15.7875 while the stock had loss by Rs.0.3 which was less than all
previous weeks.
REASONS:
Lack of triggers amid growing political tension along with mixed corporate results and declining foreign
buying were the major causes of the indexs decline. While the flood in Punjab rose the prices of
sugarcane. Out of 1.7m acres of sugarcane, 450,000 acres, or 23 per cent, got some kind of hit. The
farmers financial loss on account of all kind of crops could surge to Rs100bn, according to one guest
inmate. That is the reason of fluctuation in the prices of SGML.
The beginning of the month had the stock price of Rs.15.39, the first two days stock price decreased by
Rs 0.36 and Rs 0.39 respectively, while the last day price increased by Rs 0.76. And the week ended
with the price of Rs.15.76
The average stock price of this week was Rs.15.38, while the stock had gained the value by 0.37 which
was high as compare to last week of September.
REASONS:
Foreign buying was major positive for the bourse this week as foreigners purchased a net of $9.4
million worth of equity during the week. Average trading volumes fell 22.7% ahead of Eid holidays and
stood at 119.5 million shares traded per day, while average daily values also fell 23.6% and were
recorded at Rs6.40 billion. The market share prices are improved as compare to last week of
September that is why SGML had gained by Rs 15.76 at the end of the week.
40
This week market is closed for 1st 3 days due to Eid holidays. The stock price started with Rs.15.4
decreased by Rs.0.36 and Rs.0.16 on last two days respectively. The closing price at the last day of this
week was Rs.15.24.
The average price is Rs.15.32, while the stock had loss by 0.16 which was less than week-1.
REASONS:
The rupee depreciating by 26 paisa's in the interbank market and In the open market, the rupee had
gained 35 paisa's against the dollar. Trading activity was reduced to two sessions last week in the local
currency market, on account of the three-day Eid-ul-Azha holiday. The rupee suffered big declines when
trading resumed. The sugarcane crop in Sindh was in robust health until two months back, but recent
reports show that it was hit by a pest attack in some parts of the province. That is why SGML prices
faced loss.
The stock price in the beginning of this week was Rs.16.24 increased by Rs.1, increased by Rs0.02 and
Rs.0.26 on 2nd and 3rd day respectively, then increased by Rs.0.45 and Rs.0.13 on last two days
respectively. The stock price ended at Rs.17
The average price of this week was Rs.16.558, while the stock had gained by Rs.0.76 which was greater
as compare to week-2
REASONS:
The third week of October KSE-100 index followed negative trend and dropped by 275 points (-1%)
during the week. The government has added Rs.180 per 40kg of sugar for which farmer has clearly
denied. The price of sugarcane is too high to reach to common consumer. Due to the damage of
sugarcane in flood there is a rise in its price which results in increase of import in order to reach the
price to common consumer. This week the prices of SGML are stabilized as compare to previous weeks
but current situation of sugarcane is not favorable for the company
This week had the stock price of Rs.16.35 in the beginning, decreased by Rs.0.65 and Rs.0.08
respectively, then increased by Rs0.13 and Rs.0.06 on 3rd and 4th day while decreased by Rs.0.21on
last day. The stock price reached at Rs.16.25
The average price of this week was Rs.16.346, While the stock had loss by Rs.0.1 which is less than all
previous weeks.
REASONS:
The stock market remained relatively stable this week. Reports of foreign selling caused volatility in the
market on Monday and Tuesday, causing slight declines. Foreign direct investment also declined 26.5%
in the first quarter resulted in the loss of SGML by Rs.0.01.
41
Price
20
15
10
Price
5
0
INTERPRETATION:
The graph represents the somehow stability in share prices of shakarghunj mills
17.5
17
16.5
16
15.5
15
14.5
14
INTERPRETATION:
The graph represents the instable movement in the share prices of Shakarghunj mills while market
remains closed on 6th to 8th October due to Eid holidays.
.
42
COMPARATIVE GRAPH WITH RESPECT TO

INDUSTRIES:
AUGUEST:
180
160
140
120
BANK AL FALAH
100
FATIMA FERTILIZER
GSK
80
SHAKARGHUNJ
60
NISHAT MILLS
40
20
0
25-Aug-14
26-Aug-14
27-Aug-14
28-Aug-14
29-Aug-14
1ST WEEK OF SEPTEMBER:

180
160
140
120
BANKALFAKAH
100
FATIMA FERTILZER
GSK
80
SHAKARGHUNJ
60
NISHAT MIILS2
40
20
0
01-Sep
02-Sep
03-Sep
04-Sep
05-Sep
43

INDUSTRIES:
2ND WEEK OF SEPTEMBER:
200
180
160
140
BANK ALFALAH
120
FATIMA FERTILZER
100
GSK
80
SHAKARGHNJ
60
NISHAT MILLS
40
20
0
08-Sep
09-Sep
10-Sep
11-Sep
12-Sep
3RD WEEK OF SEPTEMBER:

250
200
BANK ALFALH
150
FATIMA FERTILIZER
GSK
100
SHAKARGUNG
NISHAT MILL
50
0
15-Sep
16-Sep
17-Sep
18-Sep
19-Sep
44

INDUSTRIES:
4TH WEEK OF SEPTEMBER:
250
200
BANK ALFALAH
150
FATIMA FERTILIZER
GSK
100
SHAKARGHUNJ
NISHATMILLS
50
0
22-Sep
23-Sep
24-Sep
25-Sep
26-Sep
29-Sep
30-Sep
1ST WEEK OF OCTOBER:

250
200
bank alfalah
150
fatima fertilizer
GSK
100
SHAKARGHUNJ
NISHAT MILLS
50
0
01-Oct
02-Oct
03-Oct
09-Oct
10-Oct
45

INDUSTRIES:
2ND WEEK OF SEPTEMBER:
250
200
bank alfalah
150
fatima fertilizer
GSK
100
SHAKARGHUNJ
NISHAT MILLS
50
0
13-Oct
14-Oct
15-Oct
16-Oct
17-Oct
3RD WEEK OF OCTOBER:

250
200
bank alfalah
150
fatima fertilizer
GSK
100
SHAKARGHUNJ
NISHAT MILLS
50
0
20-Oct
21-Oct
22-Oct
23-Oct
24-Oct
46
RECOMMENDATIONS
First and foremost government should make efforts in controlling the political situation it should
strive towards maintaining political stability.
Secondly, government should take efforts in encouraging the foreign investments which cannot
be done unless law and order gets in control.
Government should show efforts in disbursements of IMF so that the tariffs rates could be
stabilized.
Results of all the companies profitable or not profitable should be publicized so that investors
may get a clear sight while making their decisions.
Pharmaceutical sector may emphasize on quality of raw material for enjoying higher profits.
Quality should be more emphasized as compared to product portfolio.
Banking sector, mainly Bank Alfalah may make efforts in bringing up more effective marketing
practices and should even contribute towards Islamic banking.
Rest of the sectors which includes Fatima fertilizer, Shukarganj and Nishat mills may also
emphasize upon maintaining quality and marketing areas to enjoy even greater market shares.
CONCLUSION
Pakistan is the country; possessing potential almost in every sector which if combined with
proper system and implementation of adequate law may bring some prosperous shifts in our
economic structure. Policy makers should make efforts in coming up with strategy that could
benefit the investors and encourage foreign investment. This wont be done without maintaining
a strategic fit between political and economic factors.
The analysis showed that the main factor behind our flattening of stocks was the disturbed
political situation at first and secondly the reduced foreign investment. Some other factors
includes rising currency devaluation and the falling value of the Pakistani rupee against the US
dollar, inflationary pressures, uncertain law-and-order situations and unfriendly regulatory
regimes for the sectors effects on the all companies financial results and the profits and
dividends of companies are reduced which may result into decline in stock prices and it is the
major cause of concern.
Government should make efforts in improving the political situation and in maintain a balance
between the inflationary pressures, interest rates etc. so, Pakistan may attain economic and
political stability and may enjoy encouraging rate of investment in the country which may
contribute in prosperity of the country.
47
REFERENCES:
http://www.kse.com.pk/
http://www.ksestocks.com/MarketSummary
http://epaper.dawn.com/
http://www.dawn.com/
http://tribune.com.pk/pakistan/
http://www.brecorder.com/market-data/karachi-stocks/
http://www.bankalfalah.com/
http://www.gsk.com.pk/home.aspx
http://www.fatima-group.com/
http://www.nishatmillsltd.com/nishat/index.php
http://www.shakarganj.com.pk/
http://www.karachistockexchange.org/2014/09/karachi-stock-exchange-weeklyanalysis_28.html
http://www.karachistockexchange.org/2014/09/karachi-stock-exchange-weekly-analysis.html
http://karachi.newspakistan.pk/2014/09/14/weekly-review-market-continues-its-upward-drive/
http://www.karachistockexchange.org/2014/10/karachi-stock-exchange-weekly-analysis.html
48

FM Report

Uploaded by

Document Information

Original Title

Copyright

Available Formats

Share this document

Share or Embed Document

Sharing Options

Did you find this document useful?

Is this content inappropriate?

Copyright:

Available Formats

FM Report

Uploaded by

Copyright:

Available Formats

JINNAH UNIVERSITY OF WOMEN

SUBMITTED TO: FAIZAN MAQBOOL

FACTORS AFFECTING THE PRICES OF STOCK:

SHARE PRICES OF BANK ALFALAH LIMITED

ANALYSIS OF BANK ALFALAH LIMITED

ANALYSIS OF THE 4TH WEEK OF SEPTEMBER:

ANALYSIS OF THE 1ST WEEK OF OCTOBER:

Banking sector strong jumped during 2nd week of September.

ANALYSIS OF THE 4TH WEEK OF OCTOBER:

CONCLUSION OF THREE MONTH ANALYSIS:

25 AUGUST -24 SEPTEMBER Bank Alfalah

25 AUGUST -24 SEPTEMBER Bank Alfalah

SHARE PRICES OF GSK

THIRD WEEK MARKET TREND OF SEPTEMBER:

FIRST WEEK MARKET TREND OF OCTOBER:

THIRD WEEK MARKET TREND OF OCTOBER:

SHARE PRICES FATIMA FERTILIZER COMPANY LIMITED

ANALYSIS OF FATIMA FERTILIZER COMPANY LIMITED

Open market witnessed slightly higher demand due to hajj.

ANALYSIS OF THE 3RD WEEK OF SEPTEMBER:

ANALYSIS OF THE 1ST WEEK OF OCTOBER:

ANALYSIS OF THE 3RD WEEK OF SEPTEMBER:

ANALYSIS OF THE 1ST WEEK OF OCTOBER:

ANALYSIS OF THE 2ND WEEK OF OCTOBER:

ANALYSIS OF THE 4TH WEEK OF OCTOBER:

25 AUGUST -24 SEPTEMBER

Over the Years

Nishat Mills Limited commenced its business as partnership.

SHARE PRICES OF NISHAT MILLS

ANALYSIS OF NISHAT MILLS

ANALYSIS OF THE 1ST WEEK OF SEPTEMBER:

ANALYSIS OF 4TH WEEK OF OCTOBER:

GRAPH OF SHARE PRICES FOR 25 OF AUGUST TO 24 OF SEPTEMBER:

25 AUGUST -24 SEPTEMBER NISHAT MILLS

25 SEPTEMBER-24 OCTOBER NISHAT MILLS

VISION / MISSION AND VALUES

SHARE PRICES OF SHAKARGANJ MILL FOODS

ANALYSIS OF SHAKARGANJ MILLS LIMITED

GRAPH OF SHARE PRICES FOR 25 OF AUGUST TO 24 OF SEPTEMBER:

COMPARATIVE GRAPH WITH RESPECT TO

1ST WEEK OF SEPTEMBER:

COMPARATIVE GRAPH WITH RESPECT TO

3RD WEEK OF SEPTEMBER:

COMPARATIVE GRAPH WITH RESPECT TO

1ST WEEK OF OCTOBER:

COMPARATIVE GRAPH WITH RESPECT TO

3RD WEEK OF OCTOBER:

You might also like