Tariq Corporation Limited Announces Rights Issue Details

Karachi, Tariq Corporation Limited has released information regarding its rights issue, with trading in left/right starting from February 23, 2024, and ending on March 15, 2024. The final date for payment and renunciation is set for March 22, 2024. A premium of PKR 5.00 has been set for the rights issue.

Proposed Rights Issues Announced by Various Companies

Karachi, Bank Makramah Limited, formerly known as Summit Bank Limited, has proposed a rights issue at a rate of 65% and another at 11.2443%. Additionally, Jahangir Siddiqui & Co has announced a preference right share at a rate of 15%, and Meta Tech Health Limited has proposed a substantial rights issue at a rate of 550%.

Image Pakistan Limited to Offer Rights Issue

Karachi, Image Pakistan Limited has announced the schedule for its rights issue to shareholders, as per the notification sent to the Pakistan Stock Exchange (PSE). The rights trading will start on March 25, 2024, and will close on April 16, 2024. Investors interested in subscribing to the rights issue have until April 23, 2024, to make their payments. The company has not specified a premium or discount for this rights issue. This financial maneuver aims to enhance the capital base of Image Pakistan Limited.

Tariq Corporation Limited Sets Rights Issue with Premium

Karachi, Tariq Corporation Limited has disclosed its plan for a rights issue to the Pakistan Stock Exchange (PSE) and its shareholders. The trading in rights will commence on February 23, 2024, with the last trading day on March 15, 2024. The deadline for the payment or renunciation of rights is set for March 22, 2024. The rights issue is priced at a premium of PKR 5.00. This strategic decision is part of Tariq Corporation Limited's efforts to raise funds for its operations and growth initiatives.

Jahangir Siddiqui & Co and Meta Tech Health Limited Propose Rights Issues

Karachi, Jahangir Siddiqui & Co has proposed a rights issue at a rate of 15%, and Meta Tech Health Limited has announced a massive rights issue at a rate of 550%. These proposals are aimed at increasing the companies' capital to fund their strategic initiatives and expansion plans. The specifics of these rights issues, including the schedule and terms, are to be finalized and will be disclosed to the shareholders and the Pakistan Stock Exchange (PSE) in due course.

Oil & Gas Marketing Companies Index Drops

Karachi, The Oil & Gas Marketing Companies sector saw a decrease in its market index, from 10,303.190 to 10,038.520, marking a decline of -264.670 points. The sector's market capitalization is Rs. 223,485,237,348, with a market cap percentage of 2.422%. The reported turnover was 36,446,407 with a traded value of Rs. 754,534,781.430 on the Pakistan Stock Exchange.

The reduction in the index points to changes in market dynamics and investor sentiment within the oil and gas marketing landscape, influenced by both local and international market conditions.

Textile Spinning Sector Index Experiences Decrease

Karachi, In the textile spinning sector, with a market capitalization of Rs. 58,881,456,327, there was a noticeable decrease in its index from 15,529.380 to 15,429.290, showing a reduction of 100.090 points. This sector, making up 0.638% of the market's capitalization, witnessed a turnover of 25,603,100 shares and a traded value of Rs. 187,489,847.000.

Investment Banks/Companies/Securities Sector Sees Index Fall

Karachi, The sector of investment banks, investment companies, and securities companies witnessed an index drop from 16,590.280 to 15,879.540, a decrease of 710.740 points. The sector's market capitalization stood at Rs. 136,042,466,092, accounting for 1.474% of the market's total, with a turnover of 2,351,100 shares and a traded value of Rs. 51,933,381.000.

Modarabas Sector Records Decrease in Market Index

Karachi, The Modarabas sector has noted a decline in its market index, moving from 3,994.350 to 3,928.030, a decrease of -66.320 points. With a market capitalization of Rs. 16,615,445,038, this sector accounts for 0.180% of the total market cap. The sector observed a turnover of 128,000 with a traded value of Rs. 683,775.000 on the Pakistan Stock Exchange.

The downturn reflects the current market conditions and investor sentiments within the Modarabas sector, signaling a cautious stance from the market participants towards this Islamic financial instrument.

Glass & Ceramics Sector Index Drops

Karachi, In the glass & ceramics sector, with a market capitalization of Rs. 57,926,408,033, there was a notable index decrease from 319,783,938.500 to 315,125,710.110, showing a reduction of 4,658,228.390 points. This sector, making up 0.628% of the market's capitalization, witnessed a turnover of 1,346,342 shares and a traded value of Rs. 53,620,489.240.

Automobile Assembler Sector Sees Decline in Market Index

Karachi, The automobile assembler sector experienced a decrease in its market index, moving from 54,512.860 to 53,322.140, a change of -1,190.720 points. This shift occurred alongside a total market capitalization of Rs. 429,997,214,892, with the sector contributing 4.660% to the total market capitalization. The sector saw a turnover of 7,644,152 with a traded value of Rs. 1,433,565,052.860 on the Pakistan Stock Exchange.

This movement reflects the sector's current economic challenges and investor sentiment, as indicated by the trading activity and value changes. Market analysts and investors are closely monitoring these developments, considering their impact on investment strategies and the broader automotive industry.