Karachi, Mirpurkhas Sugar Mills Limited has declared a 42.957% right issue, aiming to raise capital for operational enhancements and potential growth opportunities. This initiative is part of the company's strategic efforts to solidify its financial position and support its expansion plans in the competitive sugar industry. The right issue reflects Mirpurkhas Sugar Mills Limited's proactive approach to capital management and growth financing.
Karachi, The Pakistan Stock Exchange (PSE) showcased mixed trends in its indices and turnover on January 31, 2024. The KSE100 index saw a slight increase, closing at 61,979.18 compared to its previous 61,841.74, marking a change of 137.44 points. The KSE30 index also increased, ending at 20,954.33 from 20,873.39. However, the KSEALLSHR index showed a minor decline, closing at 41,892.68, down from 41,909.12.The market turnover varied with the Regular (REG) segment witnessing a significant decrease in traded value from 15,286,491,380 to 9,271,691,024, while the volume dropped from 436,120,659 to 276,464,818. Futures (FUT) and Odd Lot (ODL) trading also experienced declines in both volume and value.
In the Ready Market segment, K-Electric Ltd. topped the list of companies with significant turnover. The company’s closing rate was 4.54, slightly lower than its previous rate of 4.65, with a turnover of 36,273,372. Bank of Punjab followed, closing at 6.20, up from 5.80, with a turnover of 20,853,316. Other notable companies included Hascol Petrol, WorldCall Telecom, and Soneri Bank Ltd., each reflecting substantial turnovers and varying closing rates.
Noteworthy was the increase in the rates of some companies. Unilever Pakistan Foods Limited stood out with a significant rise, closing at 22,364.33, up by 1,551.83. On the other hand, some companies witnessed a decrease in their rates. Nestle Pakistan Limited experienced a decline of 100.00, closing at 8,200.00. Other companies such as Sazgar Engineering Works Limited and Colgate-Palmolive (Pakistan) Limited also showed decreases in their closing rates.