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KARACHI: The Pakistan Stock Exchange (PSX) has carried out the re-composition exercise for the KSE-100 index based on a review of data from March to August, according to the Pakistan Stock Exchange (PSX).
The changes in the constituents of the KSE-100 index, which consist of the 100 largest companies listed on the PSX based on the free-float methodology, will take effect on October 2.
The incoming four companies are BankIslami Pakistan Ltd, Bestway Cement Ltd, Pakgen Power Ltd and Saif Power Ltd.
The outgoing four firms are Airlink Communication Ltd, Atlas Honda Ltd, Honda Atlas Cars Ltd and Pak Suzuki Motor Company Ltd.
The KSE-100 index is the most recognised benchmark of the PSX. It represents 85 per cent of the entire market capitalisation of the exchange with companies belonging to all listed sectors.
Sitara Chemical profit jumps
Sitara Chemical Industries Ltd posted a net profit of Rs993.3 million for 2022-23, up 51.5 per cent from a year ago.
The company also announced a cash dividend of Rs10 per share for the year, according to financial results posted on the website of the Pakistan Stock Exchange.
Meanwhile, Beco Steel Ltd told investors its net loss for the January-March quarter amounted to Rs234.5m versus a net profit of Rs61.5m a year ago.
The latest quarterly result took the combined losses for the first nine months of 2022-23 to Rs266.8m as opposed to a net income of Rs140.2m in the same period of the preceding fiscal year.
Pak Suzuki raises bike prices
As production of motorcycles remains suspended, Pak Suzuki Motor Company Ltd has increased the price of two bike models by Rs11,000 and Rs26,000 effective Sept 15 without citing any reason in its letter issued to the authorised dealers.
The new prices of CR150 and GSX 125 are Rs547,000 and Rs449,000, respectively. In a stock filing on Tuesday, the company said its bike plant would remain shut from Sept 20-22.
Published in Dawn, September 20th, 2023
