AKD Securities Ltd. is one of the leading securities firm in Pakistan, providing a comprehensive range of investor focused services, including equity brokerage, economic and securities research, investment banking and financial advisory services. AKD Securities accounts for more than 6% of the average daily value of the Karachi Stock Exchange. AKD Securities was the first brokerage house to launch an online trading platform in Pakistan in November 2002 and now has the largest market share with over 6000 customers. This has helped diversify and expand the retail investor base in the country and ushered in a whole new universe of investors to the stock market.
AKD Securities Ltd. caters to a diversified group of domestic and international institutional investors, high net worth individuals and upscale retail clients, including expatriate Pakistanis. With high quality research, unparalleled execution and distribution capability for both regular and large block trades, AKD Securities Ltd. has earned an outstanding reputation in the Pakistani securities industry.Outside of commercial banks, AKD Securities Ltd. is one of the biggest capital market firms in the country. AKD Securities is the leader in raising and providing risk capital in underwriting, market making and mergers and acquisitions in Pakistan. Good corporate governance and professionalism are emphasized throughout the firm and AKD Securities Ltd. is amongst the very few companies to have introduced a firm-wide comprehensive CODE of ETHICS, overseen by an independent compliance manager.Ultimately, our success is based on the quality of service we provide to our customers and the trust and confidence reposed in us by them. Our focus, therefore, remains on customer satisfaction at all levels in the company.
As domestic OMCs have their “backs against the wall” on the operational front (sagging POL volumes, tepid macro backdrop), we assess the relatively high margin lubricants segments, underscoring the competitive forces prevalent in the space. FY18 lubricants offtake shows SHEL holding pole position, where recently launched premium segment motor oils seem to aid the OMC in cementing market share, while HASCOL made inroads into the segment growing volumes by 27%YoY vs. 7%YoY for total industry sales. Transport linked offtake remains the foundation of total lubricant sales, inextricably linking t...
Furnace oil based generation has drastically declined (61% YoY in 11MFY19) as 8,600MW, 60% of pre-expansion capacity, was added to the system over FY17-19. HUBC base plant, Nishat IPPs and Narowal witnessed 30-45 ppt YoY lower dispatch factors during 11MFY19, with HUBC base plant being the worst affected. Considering minimal utilization levels, and long brewing capacity trap - capacity payments are likely to increase 57% YoY to PKR1,000bn (2% of GDP) in FY20F – USD hedged returns to FO based IPP have recently come under scrutiny. To grapple with this capacity trap, the GoP has initiated an ...
In a pre-emptive move, the Monetary Policy Committee (MPC) has raised the policy rate by another 100bps to 13.25%, accommodating expected inflationary pressures arising from recent Rupee depreciation, fiscal and utility rate adjustments. Interestingly, the Monetary Policy Statement carries a pretty ‘dovish tone’, signifying the tightening cycle reaching its peak. The same is also evident from rather soft central bank’s inflation expectations and real GDP growth estimates for FY20. While parallel fiscal tightening complemented by the bar on federal borrowing from the SBP allows the central b...
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