December5,2013

KSE100Index

NEWS&VIEWS

3Dec13 4Dec13 %Chg

MARKETROUNDUP
24,588.47 24,445.38 0.58% KSE100indexlost144pointsyesterdaytocloseat24,445points,with200mnshares
18,486.29 18,383.98 0.55% being traded. Top performance as per index points was witnessed in PTC, FFC and

KSE30Index

SNBLwhereas;topdeclinerswereNESTLE,UBLandMCB.Activitywasmainlyconcen

SharesTraded(mn)

185

200 7.98% tratedinConstructionandMaterials,Chemicals

andCommercialBanks.

ValueTradedPKRm

10,361

ValueTradedUSDm

98

MarketCap.PKRbn

5,950

113 15.94%
5,915 0.58% NEWSSNAPSHOT

MarketCap.USDbn

56.1

55.8 0.58% UShaltsshipmentstemporarily:TheUnitedStateshastemporarilyhalteditsground

TRADEDATE

CLIENT
TYPE

12,013 15.94%

WerecommendinvestorstoSellOnStrength.

BUY
VALUE

SELL
VALUE

NET
VALUE

(8,049)
(4,479)
(508)
(95)
(988)
(117)
(14,236)
(1,528)

449
145
505
17
(448)
(1)
667
(667)

inPKRm
4Dec13
4Dec13
4Dec13
4Dec13
4Dec13
4Dec13

Individuals 8,498
Companies 4,624
Banks/DFIs 1,013
NBFC
112
MutualFunds 540
Others
116
LIPI
14,903
FIPI
861

4Dec13

Source:NCCPL,TSLResearch

MARKET LASTWEEK
Index

Vol.(m)

24,900

300

24,600
24,300

150

24,000

Wed

Tue

Mon

Fri

0
Thus

23,700

COMMODITIES

PRICE CHANGE %
(inUSD) (inUSD)

BrentCrude
Cotton
Gold
Silver

97.27
78.44
1,222.20
19.12

Source:Bloomberg

1.23
(0.70)
(1.41)
0.05

1.28%
0.88%
0.12%
0.26%

cargoshipmentsfromAfghanistanviaPakistanduetotheongoingantidroneprotest
byPakistanTehrikeInsaf(PTI)anditsalliesinKhyberPakhtunkwha.ThePentagon's
decisiontovoluntarilyhalttheshipmentstoensurethesafetyofdriverstransporting
NatocontainersandtankerswasdescribedbyPTIas"tacticalsuccess"fortheparty's
protestagainsttheCIA'sdroneoperationprogramme.(BR)

Government not likely to receive $800 million from Etisalat: The government is
unlikelytoreceive$800millionoutstandingfromEtisalatonaccountofprivatisation
ofPakistanTelecommunicationCompanyLimited(PTCL)innearfuturegiventheal
mostnonexistentprogressinthemutationofremainingproperties.Anofficialsaid
despiteeffortstheissuesremainunresolvedduetoaclauseinsalepurchaseagree
ment. The Etisalat has not been able toget the titles ofaround 131properties and
resultantlyheldupremaining$800millionduefromPTCLprivatisation.(BR)

Supreme Court declares LPG quota agreement illegal: The Supreme Court on
Wednesday declared Liquefied Petroleum Gas (LPG) quota agreement, which was
executedbetweenSuiSouthernGasPipelineLimited(SSGCL)andJamshoroJointVen
tureLimited(JJVL)during2003,illegal.(BR)

JJVL says it is disappointed over SC decision in LPG case: JJVLisdisappointedby

this decision, which contains factual inaccuracies. Out of respect for the court, JJVL
shallnotdelveintothesespecificsatthistime.JJVLhaspreviouslyandshallcontinue
to comply with court orders. It shall also exercise its right to appeal the judgment.
JJVLhasstrictlyandfaithfullycompliedwiththelawatalltimes.JJVLmaintainsthat
itsagreementwithSSGCwasawardedcompetitivelyandtransparently.JJVL'sagree
mentwithSSGChasprovidedsignificantgainstobothSSGCandthenationalexcheq
uer.Sincethecommissioningofitsstateoftheartfacilitiesin2005todate,JJVLhas
provided Rs 34.88 billion to SSGCwhich did not invest any sum whatsoever in the
projectandRs10.84billionintaxes.(DT)

Prime Minister may ask Toyota Company to revisit agreement: Prime Minister
Nawaz Sharifwill ask Toyota Company to revisit agreement with House of Habibto
allowthemexportofCompletelyBuiltUnits(CBUs)andcomponentsfromPakistan,
wellinformedsourcesinEDBtoldBusinessRecorder.PresidentToyotaMotorPacific,
KyoichiTanadaistomeetPMNawazSharifonThursday(today)todiscusscompany's
futureinvestmentstrategy.Toachievethis,thecompanymayconsidertargetingex
portmarketsaspricesofIndusMotorCompany(ToyotaPakistan)aremostcompeti
tiveintheregion.(BR)

Continuedonpage2

DISCLAIMER:Theaboveinformationandadviceisgiveningoodfaith,withoutanylegalresponsibility.TaurusSecuritiesLimitedorindividualsconnected
withitmayhaveusedresearchmaterialbeforepublicationandmayhavepositionsinormaybeinterestedinthesecuritiesmentionedherein.

TAURUSSECURITIESLIMITEDNEWS&VIEWS
WORLDINDICES
MarketsatClose
DJIA
Nasdaq
S&P
FTSE
DAX
CAC40
Nikkei
H.Seng

Dec4,2013 Atlas Honda to invest Rs600m in motorcycles manufacturing: AtlasHondaLimited

Index
15,914.62
4,037.20
1,795.15
6,532.43
9,223.40
4,302.42
15,437.54
23,794.04

Chg
(0.59)
(0.20)
(0.38)
(0.95)
(1.90)
9.36
(1.98)
(0.49)

hasplannedtoinvestRs600millionfortheexpansionofitsmotorcyclemanufacturing
unit,AfaqAhmed,generalmanagerofH&DofAtlasHonda,saidonWednesday.Ah
medsaidthattheinvestmentwillbemadeinphasesduringaperiodofoneyearafter
whichthemotorcycleproductionwouldsurgeby100,000unitsto850,000unitsper
annum.(TN)

FBR seeks to regulate banking companies' reporting requirements: The Federal

BoardofRevenuehasproposedthateverybankshallfurnishtotheBoardamonthly
accountholders deposits statement and credit card payments statement of persons
who have deposited Rs 1 million or more and made credit card payment of Rs
100,000ormore,respectivelyinamonth.(BR)

Payments made to IPPs without third party audit: Thegovernmentinformedthe

SenateonWednesdaythatnothirdpartyauditwascarriedoutregardingpayments
madetoIPPstoclearthecirculardebtandthatpaymentwasmadefromthefederal
consolidatedfund.Duringthequestionhour,StateMinisterKhurramDastgirtoldthe
HousethattheministryoffinancehadmadethepaymenttoIPPsafterverificationby
PepcooftheclaimsbyIPPsbutnothirdpartyauditwascarriedout.(TN)

PSO clarifies position on use of adulterated fuel: With respect to the incident in
questioninMuzzafargarhatGencoIII,PSOsaidthatithasaFuelSupplyAgreement
(FSA)withGencoIIIsinceNovember2009which,interalia,providesforthemoisture
contentintheFurnaceOilsuppliedtobewithinthemaximumlimitof0.5%.
Incasethereisanycontamination/watercontentbeyondthespecifiedlimitsinthe
tanklorry,itisreportedtothePSOrepresentativeforjointsampling.Iffoundbeyond
thespecifiedlimits,thematterwillbeinvestigatedbyPSOandsubsequentactionbe
taken.(TN)

Murree Brewery seeks partner in India: Thepremierspiritmakerofthecountryis

lookingforapartnerinIndiatosellitsmaltbeverageintheneighbouringcountryand
harnessinternationalexportsfromthere,asexportofalcoholicdrinksfromPakistan
isbanned.Wegaveafranchisetoacompanyoverayearagobutthatdealhasnot
reallymaterialisedsofar,SabihurRehman,specialassistanttothechiefexecutiveof
theMurreeBrewery Company, said. Butwe are beingapproached by many Indian
firmsandaseriousdiscussionisunderwaywithalargeChandigarhbaseddistribution
company,whichwantsabrewingfranchise..(ET)

Employees Stock Option Scheme: SECP approves Bank Alfalah's request: SECP has
approvedBankAlfalah'srequestforEmployeesStockOptionScheme(ESOS).Accord
ing to a notice sent to Karachi Stock Exchange by the bank, this approval has been
grantedunderthesecondprovisotosubsection(I)ofSection86oftheCompanies
Ordinance 1984. The ESOS has already been approved in the 21st Annual General
Meetingofthebankheldon29thMarch2013,subjecttoapprovaloftheSECP.(BR)

Wateen, Qubee merge broadband business: AbuDhabiGroup(themajorityshare

holder of Wateen Telecom) and New Silk Route Private Equity (PE) Asia Fund (the
ultimatemajorityshareholderofAugere/Qubee),announcedtheirintentiontocom
binetheirwirelessbroadbandbusinessesinPakistan.TheagreementwillseeWateen
andQubeeformingthesecondlargestbroadbandserviceproviderinPakistan,with
over200,000subscribers.(BR)

11 foreign pharmaceutical companies closed business, Senate body told: Eleven

foreign pharmaceutical companies have closed their business ventures in Pakistan
duetopoorlawandorder,energycrisisandhighcostofdoingbusiness.Hesaidthat
a drug pricing policy was under preparation, which would be presented before the

DISCLAIMER:Theaboveinformationandadviceisgiveningoodfaith,withoutanylegalresponsibility.TaurusSecuritiesLimitedorindividualsconnected
withitmayhaveusedresearchmaterialbeforepublicationandmayhavepositionsinormaybeinterestedinthesecuritiesmentionedherein.

TAURUSSECURITIESLIMITEDNEWS&VIEWS
Council of Common Interest (CCI) for regulation of medicine prices, he added. The
committee,whichmetwithZafarAliShahinthechair,expressedconcernsoverthe
recentincreaseindrugsprices,whichwerelaterwithdrawnonPrimeMinisterNawaz
Sharif'sintervention.(BR)

Greyphonetraffic:ITauthoritiespassingthebucktoISI:Thegovernmentsinforma
tion technology authorities deserve spanking as they have not just terribly failed to
addresssomeburningissuesfacingtheinternetusersbuthavealsoshiftedthebur
denofblockingandmonitoringgreytraffictotheInterServicesIntelligence(ISI).(TN)

OpeningroadforIndiamayhitourmotorcycleindustry:Anopendoortradepolicy
withIndiamayhitPakistansmotorcycleindustryduetotheformersmorecomplex
lawsforforeignentrants,saidAtlasHondaGeneralManagerResearchandDevelop
mentAfaqAhmed.Talkingtoagroupofjournalists,AhmedsaidIndiasvehicleemis
sionstandardsareuniqueandcomplex,whichmostforeignplayersseeasadeliber
ateattempttodiscourageimportsandpenetrationintheirmarket.(ET)

IranPakistangaspipelineprojectgetsfreshimpetus:Inamajordevelopment,Paki
stanandIranaresettothrashoutastrategytomaterialisethemuchdelayedIran
PakistangaspipelineprojectduringtalksinTehranonDecember9,aseniorofficialof
theMinistryofPetroleumandNaturalResourcestoldTheNews.(TN)

Opecfreezesoiloutputceiling:OpecagreedonWednesdaytoholditscrudeproduc
tionceilingat30millionbarrelsperdaydespiteoversupplyconcernsandcompetition
from cheaper shale oil. The Organisation of Petroleum Exporting Countries, which
pumpsoutaboutonethirdoftheworld'soil,failedagaintodecideonanewsecre
tarygeneralamidgrouptensions,insteadkeepingLibya'sAbdullahElBadriasitsad
ministrativeheadfor2014.(BR)

DISCLAIMER:Theaboveinformationandadviceisgiveningoodfaith,withoutanylegalresponsibility.TaurusSecuritiesLimitedorindividualsconnected
withitmayhaveusedresearchmaterialbeforepublicationandmayhavepositionsinormaybeinterestedinthesecuritiesmentionedherein.