Akseer Research (Pvt) Limited

Akseer is a Research & Analytics firm based out of Pakistan that specializes in Equity Research and Corporate Finance. Our team has exposure to a wide range of sectors including Economy, Banking, Telecommunications, Retail, Real Estate, Construction and Materials, Pharmaceuticals, Food, Energy, Chemicals and Petrochemicals. We have experience of covering companies in Middle East, Americas, Far East and South Asia.

Coverage

Export
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Analysts

  • Uzair Shaikh

    N/A
  • Muhib Ur Rasool

    N/A
  • Fariya Saleem

    N/A
  • Musadiq Jawaid

    N/A
  • Sagar Karera

    N/A
  • Usama Qamar Nizami

    N/A
  • Sohaib Subzwari

    N/A
  • Akseer Research

    N/A
  • Saad Nandia

    N/A

Kekra - 01: Making sense of the hype

A substantial amount of hype has been created around the recently commenced offshore exploratory drilling of Kekra-01 in Offshore Indus-G block. We, hence, thought it would be useful to reach out to industry experts and conduct some international benchmarking, to better understand prospects of Kekra-01 in the most objective manner possible. We share our findings in this piece

Akseer Research ...
  • Musadiq Jawaid

MTL: Increase in cost pressures amid diminishing volumes, HOLD

We revisit our investment case of MTL where we have revised down our Jun-19 price target PT to PKR 754/Share. Our PT implies a downside of 14.2% along with a dividend yield of 10.6%. The stock is valued rich and trading at PER of 9. 4x based upon strong dividend pay-outs history. We recommend ‘HOLD’. We expect the company’s bottom-line to grow by 6.2% per annum during FY19-23 on the back of 1) diffident growth in sales volumes 2) unsustainability of current historic high gross margins of above 20%. We expect margins to come under pressure owing to PKR devaluation and rising steel & other ...

Federal Budget 2018-19: Massive reforms ahead of the elections

Federal Budget 2018-19: Massive reforms ahead of the elections Contrary to its populist appearance, Federal Budget FY19 is NOT a populist election year budget. It restricts non-filers of tax returns from purchasing all new motor vehicles, and property valued above PKR 4.0mn. Non-tax filers comprise 98% of Pakistan’s labor force. The budget introduces substantial punitive measures for concealment of foreign / domestic income / assets, thereby enhancing incentives to avail the amnesty scheme which has also been made a part of the finance bill, along with the measures to document the real estate...

Kekra - 01: Making sense of the hype

A substantial amount of hype has been created around the recently commenced offshore exploratory drilling of Kekra-01 in Offshore Indus-G block. We, hence, thought it would be useful to reach out to industry experts and conduct some international benchmarking, to better understand prospects of Kekra-01 in the most objective manner possible. We share our findings in this piece

Akseer Research ...
  • Musadiq Jawaid

MTL: Increase in cost pressures amid diminishing volumes, HOLD

We revisit our investment case of MTL where we have revised down our Jun-19 price target PT to PKR 754/Share. Our PT implies a downside of 14.2% along with a dividend yield of 10.6%. The stock is valued rich and trading at PER of 9. 4x based upon strong dividend pay-outs history. We recommend ‘HOLD’. We expect the company’s bottom-line to grow by 6.2% per annum during FY19-23 on the back of 1) diffident growth in sales volumes 2) unsustainability of current historic high gross margins of above 20%. We expect margins to come under pressure owing to PKR devaluation and rising steel & other ...

Federal Budget 2018-19: Massive reforms ahead of the elections

Federal Budget 2018-19: Massive reforms ahead of the elections Contrary to its populist appearance, Federal Budget FY19 is NOT a populist election year budget. It restricts non-filers of tax returns from purchasing all new motor vehicles, and property valued above PKR 4.0mn. Non-tax filers comprise 98% of Pakistan’s labor force. The budget introduces substantial punitive measures for concealment of foreign / domestic income / assets, thereby enhancing incentives to avail the amnesty scheme which has also been made a part of the finance bill, along with the measures to document the real estate...

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