Intermarket Securities
Intermarket Securities

Intermarket Securities

Coverage: Pakistan
Intermarket Securities Ltd (IMS) is a full service brokerage offering trading, research and IB services. IMS has one of the most accredited equity market teams in Pakistan, and has received multiple awards from CFA Society Pakistan and Asia Money.
Location: Karachi


Latest articles from Intermarket Securities

Bank Alfalah: Come for the valuations, stay for the growth

After very strong profit delivery in 1QCY21 (EPS: PKR1.92), we raise our CY21f EPS estimates for BAFL by 10% to PKR6.30 but leave subsequent projections largely unchanged. BAFL posted NPAT of PKR3.4bn (EPS: PKR1.92) in 1QCY21, up 18%yoy and 57%qoq, a...
Intermarket Securities Raza
Raza Jafri @ Intermarket Securities 17 May 2021

Lucky Cement: Superior diversification on top of best-in-class cement operations

We have upgraded our estimates for LUCK with a new TP of PKR1,300/sh (from PKR975/sh earlier) on the back of outperformance by both its core cements profits and non-core operations. All these will be complemented by rising other income. Our new conso...
Intermarket Securities Rahul
Rahul Hans @ Intermarket Securities 17 May 2021

Gul Ahmed Textile Mills Ltd: 3QFY21 analyst briefing takeaways

Gul Ahmed Textile Mills Ltd (GATM) posted 3QFY21 consolidated NPAT of PKR1.7bn (EPS: PKR4.00), compared with a net loss of PKR453mn last year (LPS: PKR1.06). GATM believes that the present momentum in revenues is sustainable – expected to maintain a ...
Intermarket Securities Abdul Ghani
Abdul Ghani Mianoor @ Intermarket Securities 11 May 2021

Indus Motors: 3QFY21 analyst briefing takeaways

INDU posted 3QFY21 NPAT of PKR3.6bn (EPS: PKR45.98), up 22% qoq (35% yoy), due to a 13% qoq rise in revenues and 5% qoq higher other income. The Revo and Fortuner facelifts have received an overwhelming response, despite the long lead times. As for t...
Intermarket Securities Abdul Ghani
Abdul Ghani Mianoor @ Intermarket Securities 7 May 2021

Pakistan State Oil: 9MFY21 analyst briefing takeaways

Pakistan State Oil (PSO) posted unconsolidated net profits of PKR8.7bn (EPS PKR18.57) for 3QFY21, double qoq and up from a loss last year. This took 9MFY21 net profits to PKR18.2bn (PKR38.86/sh), up from PKR3.0bn SPLY. PSO improved its market share a...
Intermarket Securities Saad
Saad Ali @ Intermarket Securities 7 May 2021

Pakistan Suzuki: Analyst briefing takeaways

PSMC posted 4QCY20 NPAT of PKR1.0bn (EPS: PKR12.27), the first quarterly profit in eight quarters, decreasing the CY20 Net loss to PKR1.6bn (LPS: PKR19.31). According to the management, PSMC had increased air shipments in order to cater to the rising...
Intermarket Securities Abdul Ghani
Abdul Ghani Mianoor @ Intermarket Securities 6 May 2021