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Business Recorder
07-07-2025
- Business
- Business Recorder
Pakistani companies with market cap of over $2bn at PSX
The Pakistan Stock Exchange (PSX) has hit record highs in recent weeks with its benchmark KSE-100 Index sitting pretty at over 130,000. It hit an all-time high of 131,949.07 on Friday, with analysts attributing the market's record-breaking trajectory to aggressive institutional buying, strong earnings expectations, and positive macroeconomic indicators. With the growth of the KSE-100 – widely seen as a benchmark for market performance – Business Recorder is listing companies with the highest market capitalisation with the figure of $2 billion used as a qualification criterion. As of July 7, 2025, a total of five companies listed at the PSX have a market capitalisation of $2 billion or more. OGDC currently leads the list with a market cap of $3.46 billion. Oil and Gas Development Company Limited (OGDC) ($3.46 billion) Oil and Gas Development Company Limited (PSX:OGDC) is the largest exploration and production (E&P) company in Pakistan with operations including exploration, drilling operation services, production, reservoir management, and engineering support. The company has the most extensive exploration acreage in Pakistan, covering over 40% of the country's total acreage awarded with net hydrocarbons of oil and gas. With over 67%, the Government of Pakistan is the largest shareholder in OGDC, followed by the OGDC Employee Empowerment Trust and Privatisation Commission of Pakistan. Its profile on the PSX says the company was incorporated on October 23, 1997 under the Companies Ordinance, 1984 (now the Companies Act, 2017). The company was established to undertake exploration and development of oil and gas resources, including production and sale of oil and gas and related activities formerly carried on by Oil and Gas Development Corporation, which was established in 1961. The market capitalisation of OGDC at the PSX stands at $3.46 billion. **United Bank Limited (UBL) ($2.98bn) Founded in 1959, United Bank Limited (UBL) is a banking company incorporated in Pakistan and is engaged in commercial banking and related services. The bank is a subsidiary of Bestway International Holdings Limited which is a wholly owned subsidiary of Bestway Group Limited. UBL operates one of the largest branch networks in Pakistan with over 1765+ branches and 1750+ ATMs along-with the bank's branchless banking proposition, UBL Omni spread all over the country, according to the information available on its website. Bestway Group is a diversified multinational family-owned business with annualised turnover in excess of £4.5 billion. Starting off as a chain of retail convenience stores, the group has grown to become a diversified multinational business with interests across the wholesale, pharmacy, real estate, cement and banking sectors. The market capitalisation of UBL at the PSX stands at $2.98 billion. Mari Petroleum Company Limited (MARI) ($2.73 billion) By operating the country's largest gas reservoir at Mari Gas Field, Daharki, Sindh, Mari Petroleum Company Limited (PSX: MARI) is the second largest producer of natural gas. A public limited company incorporated in Pakistan in 1984, Mari Petroleum is an integrated oil and gas exploration and production company and around 70% exploration success rate, which is much higher than industry averages of around 33% national and 14% international. Mari's key customers include fertiliser manufacturers, power generation companies, gas distribution companies; and refineries. The market capitalisation of MARI at the PSX stands at $2.73 billion. Meezan Bank Limited (MEBL) ($2.29 billion) Meezan Bank Limited (PSX:MEBL), Pakistan's first and largest Islamic bank, is a public limited company incorporated in the country in 1997. The bank formally commenced its operations in 2002 after being issued the first-ever Islamic commercial banking licence by the State Bank of Pakistan. Currently, the bank is engaged in corporate, commercial, consumer, investment and retail banking activities. As per data available on the MEBL's website, it has a retail banking network of more than 1,000 branches across the country. MEBL's branch network is supported by banking services that include over 950 ATMs, VISA and MasterCard Debit cards, a call center, internet banking, mobile application and SMS banking facility. The market capitalisation of MEBL at the PSX stands at $2.29 billion. **Fertilizer Company Limited (FFC) ($2.05 billion) Fauji Fertilizer Company Limited is incorporated in Pakistan as a public limited company. The company is engaged in the manufacturing, purchasing and marketing of fertilisers and chemicals. The company also undertakes investment in other fertiliser, chemicals, cement, food processing, energy generation and banking operations. As of December 31, 2024, FFC has a total of 1,423.109 million shares outstanding which are held by 29,400 shareholders. Associated companies, undertakings and related parties (Committee of Admin Fauji Foundation) have the majority stake of 43.51% in FFC followed by local general public holding 25.06% shares. Public sector companies and corporation account for 9.62% shares of FFC while banks, DFIs, NBFIs, Insurance, Pension Funds, Takaful and Modarabas collectively hold 9.02% shares. Around 2.39% of FFC's shares are held by foreign companies. The remaining shares are held by other categories of shareholders. The market capitalisation of FFC at the PSX stands at $2.05 billion. Among other listed companies at the PSX several stocks boast market capitalisations exceeding $1 billion, including Lucky Cement (LUCK), Pakistan Petroleum Limited (PPL), and MCB Bank Limited (MCB), Colgate-Palmolive Pakistan (COLG), and Nestle Pakistan (NESTLE). Market capitalisation for each company was calculated on Monday, July 7, 2025 (10am). For the purpose of this calculation, the exchange rate was used at Rs283 to 1 US dollar.
Business Recorder
03-07-2025
- Business
- Business Recorder
PSX rally continues as KSE-100 gains over 500 points
Bulls continued to make further inroads at the Pakistan Stock Exchange (PSX) with the benchmark KSE-100 Index crossing the 131,000 level, a new record high, during the opening minutes of trading on Thursday. During trading, the KSE-100 hit an intra-day high of 131,325.10. At 3:05pm, the benchmark index was hovering at 130,900.38 level, an increase of 556.35 points or 0.43%. Buying was observed in the energy sector, with index-heavy stocks including OGDC, MARI, PPL, PSO, and WAFI trading in the green. Analysts attribute the market's record-breaking trajectory to aggressive institutional buying, strong earnings expectations and positive macroeconomic indicators. On Wednesday, the PSX delivered a historic performance, surpassing the psychological milestone of 130,000 points for the first time ever. The benchmark KSE-100 Index soared by 2,144 points or 1.67% to settle at 130,344 points. Globally, Asian shares edged higher on Thursday as investors braced for a key US jobs report that may justify imminent rate cuts by the Federal Reserve and waited on the passage of a massive US tax and spending bill in Congress. Wall Street climbed overnight to close at new record highs after President Donald Trump announced that the US has struck a trade deal with Vietnam, including a 20% tariff on exports to the US. That fuelled hopes that more deals will be forthcoming, with negotiations underway for a trade agreement with India. The MSCI's broadest index of Asia-Pacific shares outside Japan advanced 0.2% to hover just below a near four-year top. Japan's Nikkei was flat. China's blue chips edged up 0.2%, while Hong Kong's Hang Seng index fell 0.6% after data showed China's services activity expanded at the slowest pace in nine months in June. Both Nasdaq futures and S&P 500 futures were little changed in Asia. Investors were waiting for Trump's massive tax and spending bill to pass the House of Representatives for possible final approval. The bill is expected to add $3.3 trillion to the national debt, slash taxes and reduce social safety net programs. This is an intra-day update
Business Recorder
03-07-2025
- Business
- Business Recorder
PSX rally continues as KSE-100 gains over 400 points
Bulls continued to make further inroads at the Pakistan Stock Exchange (PSX) with the benchmark KSE-100 Index crossing the 131,000 level, a new record high, during the opening minutes of trading on Thursday. During trading, the KSE-100 hit an intra-day high of 131,325.10. At 10:50am, the benchmark index was hovering at 130,745.75 level, an increase of 401.72 points or 0.31%. Buying was observed in the energy sector, with index-heavy stocks including OGDC, MARI, PPL, PSO, and WAFI trading in the green. Analysts attribute the market's record-breaking trajectory to aggressive institutional buying, strong earnings expectations and positive macroeconomic indicators. On Wednesday, the PSX delivered a historic performance, surpassing the psychological milestone of 130,000 points for the first time ever. The benchmark KSE-100 Index soared by 2,144 points or 1.67% to settle at 130,344 points. Globally, Asian shares edged higher on Thursday as investors braced for a key US jobs report that may justify imminent rate cuts by the Federal Reserve and waited on the passage of a massive US tax and spending bill in Congress. Wall Street climbed overnight to close at new record highs after President Donald Trump announced that the US has struck a trade deal with Vietnam, including a 20% tariff on exports to the US. That fuelled hopes that more deals will be forthcoming, with negotiations underway for a trade agreement with India. The MSCI's broadest index of Asia-Pacific shares outside Japan advanced 0.2% to hover just below a near four-year top. Japan's Nikkei was flat. China's blue chips edged up 0.2%, while Hong Kong's Hang Seng index fell 0.6% after data showed China's services activity expanded at the slowest pace in nine months in June. Both Nasdaq futures and S&P 500 futures were little changed in Asia. Investors were waiting for Trump's massive tax and spending bill to pass the House of Representatives for possible final approval. The bill is expected to add $3.3 trillion to the national debt, slash taxes and reduce social safety net programs. This is an intra-day update
India.com
14-05-2025
- Business
- India.com
Narayana Murthy's Infosys alone beats Pakistan's whole stock exchange! If compared with Mukesh Ambani's Reliance Pak's largest company is just…
We saw recently how India is ahead of Pakistan in defense, military, and air force. But India also leads in different business than Pakistan and there is no match of the whole Pakistan if compared to even a single Indian company. There are many such companies which alone can take over Pakistan's whole stock exchange. A single Indian IT giant, Infosys, surpasses the combined market value of the top 476 companies listed on the Pakistan Stock Exchange (PSX). Pakistan's GDP of $350 billion is very less than India's $4 trillion economy. The total market capitalisation of Pakistan's 476 largest listed companies is Rs 5.66 lakh crore. Compared with Narayana Murthy's Infosys whose market cap is of Rs 6.26 lakh crore as of last Friday, reported Fortune India citing Even Hindustan Unilever, valued at Rs 5.48 lakh crore almost matches PSX's combined worth. If we look at Pakistan's benchmark index, the KSE-100 combined market cap of Rs 3.31 lakh crore less than UltraTech Cement's Rs 3.34 lakh crore valuation. If Pakistan's stock market drops by 10% in market cap it would bring it down to Rs 2.98 lakh crore, which is almost similar to Ratan Tata's Titan Company's Rs 3.11 lakh crore. A 20% fall will take it to Power Grid Corporation's Rs 2.78 lakh crore valuation. The gap can be seen if compared with multinational corporations (MNCs) in the two countries. Pakistan's top six MNCs Nestle, Colgate-Palmolive, Pakistan Tobacco, Unilever Foods, GSK, and Abbott all collectively have a market cap of Rs 36,660 crore. In India, the same MNCs collectively have 14.8 lakh crore. Companies like Hindustan Unilever and Nestle India surpasses the entire Pakistani MNC sector. Even Pakistan's biggest listed company, the state-owned Oil and Gas Development Company (OGDC), has a market cap of Rs 23,812 crore which is just 1.28% of Reliance Industries Rs 18.64 lakh crore valuation. OGDC's market cap is far lesser than Indraprastha Gas at Rs 27,986 crore. In OGDC's Global Depository Receipts (GDRs), its valuation of around Rs 28,000 crore still lags behind India's NLC, valued at over Rs 30,000 crore. The Pakistan Stock Exchange, with a market cap of Rs 527 crore far behind the Bombay Stock Exchange's Rs 88,969 crore.
Express Tribune
07-05-2025
- Business
- Express Tribune
Markets dip amid India-Pakistan tension, KSE-100 closes over 3,500 points down
Listen to article Pakistan's benchmark KSE-100 Index staged a partial recovery on Wednesday after plunging over 6,500 points at the open, with market sentiment rattled by the military escalation between India and Pakistan in over two decades. The index touched an intraday low of 107,007.68 before closing at 110,009.02, down 3,559.48 points or 3.13%. The sharp dip followed news of Indian missile strikes on Pakistani territory and retaliatory military action by Pakistan. Across-the-board selling was witnessed in major sectors, including commercial banks, oil and gas exploration, oil marketing, and power generation. Index-heavy stocks like OGDC, PPL, POL, HUBCO, and SNGPL all traded in the red. 'The sharp rebound of over 4,500 points reflects underlying market confidence, driven by strong economic fundamentals and expectations that tensions will de-escalate quickly after the comment by the United States Secretary of State,' said Waqas Ghani, Head of Research at JS Global. Mohammed Sohail, CEO of Topline Securities, echoed this view, stating: 'After the latest offensive, there will be no major escalation between the two neighbours, and dust will eventually settle down.' He added that investors are also optimistic ahead of the upcoming International Monetary Fund (IMF) board meeting, which could approve the next loan tranche for Pakistan. The recent market turmoil follows cross-border violence that saw at least 26 Pakistanis killed and 46 injured after Indian missile strikes hit six locations, including Bahawalpur, Muzaffarabad, and Kotli. Director General of Inter-Services Public Relations (DG ISPR), Lieutenant General Ahmed Sharif Chaudhry, earlier said on Wednesday that the Pakistan army downed five Indian fighter jets and one combat drone in response to unprovoked aggression. The National Security Council authorised 'corresponding actions' and vowed that sovereignty would be protected. On Tuesday, the KSE-100 had closed 534 points lower at 113,568.51, erasing nearly 1,000 points of intraday gains. Globally, investor mood was buoyed by a planned meeting between top US and Chinese trade officials. S&P 500 futures rose 0.9%, while China's Hang Seng and blue-chip indices saw modest gains after Beijing cut interest rates and loosened bank reserve requirements to inject liquidity. Despite the domestic selloff, analysts maintain that the broader economic trajectory, backed by structural reforms and IMF support, remains intact.
