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Express Tribune
25-06-2025
- Business
- Express Tribune
Gold prices tumble on Israel-Iran ceasefire
Listen to article Gold prices in Pakistan registered a sharp decline on Tuesday, mirroring the downtrend in the international market where bullion slipped nearly 2% to hit a more than two-week low as geopolitical tensions cooled. The global drop came as investor demand for safe-haven assets eased following Trump's announcement of a ceasefire between Iran and Israel. In the domestic market, the price of 24-karat gold fell by Rs3,800 per tola to settle at Rs354,365, according to rates issued by the All Pakistan Sarafa Gems and Jewellers Association (APSGJA). Similarly, the price of 10-gram gold dropped by Rs3,258 to reach Rs303,810. On the previous day, gold had posted a modest decline of Rs300 per tola, closing at Rs358,165. "There had been talk of a correction for several days and with tensions easing, the metal is now gradually retreating," said Adnan Agar, Director at Interactive Commodities, noting that gold was trading lower after geopolitical tensions subsided. Gold touched a high of $3,357 an ounce and a low of $3,303 on Tuesday and is still hovering near its lower range. The key support zone lies between $3,300 and $3,290. "A breach below this level could push the market down towards $3,200," he said. Agar indicated that if the geopolitical situation remains stable, gold prices may continue their downward correction, potentially sliding to $3,000 or even $2,800. Meanwhile, the Pakistani rupee registered a slight gain against the US dollar in the inter-bank market on Tuesday, appreciating by 0.04%. By the close of trading, the local currency settled at 283.77 against the greenback, marking an improvement of 10 paisa from the previous session's close at 283.87. In the global market, the US dollar weakened while the Australian and New Zealand dollars strengthened after US President Donald Trump announced a ceasefire deal between Israel and Iran. The development boosted investor sentiment and triggered a risk rally across international markets. Moreover, Pakistan's broad money (M2) grew by 0.9% on a week-on-week (WoW) basis to Rs38.4 trillion as of June 13, 2025, according to data released by the State Bank of Pakistan (SBP). The increase was mainly driven by a 1% WoW rise in total deposits with banks, which climbed to Rs27.5 trillion. Meanwhile, currency in circulation (CIC) edged higher by 0.7% WoW, standing at Rs10.9 trillion. On a month-on-month (MoM) basis, the broad money expanded by 3.2% while year-on-year (YoY) growth stood at 11.6%. So far in 2025, M2 has posted an increase of 7.9%. Currency in circulation surged 5.3% MoM and 17.4% YoY, reflecting higher cash demand after Eid holidays. Total deposits grew 2.3% MoM and 9.6% YoY during the period. Other deposits with the SBP, however, declined 3.2% WoW and 13% MoM, marking a sharp 30.6% fall on a yearly basis.
Business Recorder
24-06-2025
- Business
- Business Recorder
Gold price per tola falls Rs3,800 in Pakistan
Gold prices in Pakistan decreased significantly on Tuesday in line with their fall in the international market. In the local market, gold price per tola reached Rs354,365 after a loss of Rs3,800 during the day. As per the rates shared by the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA), 10-gram gold was sold at Rs303,810 after it declined Rs3,258. On Monday, gold price per tola reached Rs358,165 after a loss of Rs300 during the day. The international rate of gold also decreased today. The rate was at $3,327 per ounce (with a premium of $20), a fall of $39, as per APGJSA. Meanwhile, silver price per tola decreased by Rs9 to reach Rs3,790.
Hans India
07-06-2025
- Business
- Hans India
Bharti Hexacom shares fall 3.5% after Motilal Oswal downgrade
Mumbai: Bharti Hexacom's shares dropped over 3.5 per cent to Rs1,810 on Friday during the intra-day trading session on the National Stock Exchange (NSE), after brokerage firm Motilal Oswal downgraded the stock from a 'Buy' to a 'Neutral' rating and set a target price of Rs1,900. The brokerage said the downgrade was mainly due to the stock's high valuation, which is currently around 40 per cent more expensive than Bharti Airtel. 'Risk-reward no longer attractive; downgrade to Neutral,' said the brokerage. Motilal Oswal believes this makes the risk-reward profile less attractive for investors, even though the company continues to show strong performance and growth through premium services. It expects Bharti Hexacom to become debt-free (excluding lease liabilities) by the financial year 2027. The brokerage also predicts that the company's dividend will rise from Rs10 per share in FY25 to Rs30 per share by FY27. The average revenue per user (ARPU) is expected to go up from Rs242 in FY25 to Rs284 by FY27, supported by a likely tariff hike in December 2025. Beyond FY28, the brokerage expects ARPU to grow at a slower rate of 5.5 per cent annually, while overall revenue and EBITDA growth may settle around 7 per cent. However, the firm added that any significant boost in valuation will depend on ARPU growing faster than expected. Motilal Oswal also flagged some concerns. Bharti Hexacom's operations are concentrated in a few telecom circles, which could limit further growth. Additionally, the government still holds a 15 per cent stake in the company, and this is seen as a risk factor -- especially because the government lacks board representation and had earlier raised objections related to the Indus Towers deal, the brokerage said. The brokerage also mentioned that any potential corporate moves, such as stake sales, could put pressure on the stock's valuation. It further warned that a possible merger with Bharti Airtel could be risky, especially if the share swap ratio turns out to be unfavourable due to Bharti Hexacom's current high valuation. Around 12:45 pm on Friday, Bharti Hexacom was trading at Rs1,810, down about 3.62 per cent or Rs68. The stock has still gained 24 per cent so far this year and has jumped 74 per cent over the past 12 months.
Business Standard
04-06-2025
- Business
- Business Standard
CARE Ratings allots 25,933 equity shares under ESOS
CARE Ratings has allotted 25,933 equity shares of the face value of Rs.10/- each fully paid up, to the employees of the Company pursuant to exercise of their options under CARE Employee Stock Option Scheme 2020. The Paid-up Share Capital of the Company will accordingly increase from Rs.29,93,21,480/- consisting of 2,99,32,148 equity shares of Rs.10/- each to Rs.29,95,80,810/- consisting of 2,99,58,081 equity shares of Rs.10/- each.
Daily Tribune
13-05-2025
- Business
- Daily Tribune
AlAbraaj Announces Strong Profits
TDT | Manama AlAbraaj Restaurants Group B.S.C. has announced a strong start to the year, reporting sustained profitability and advancing its strategic expansion plans. The company's Board of Directors met on Monday and approved a dividend payout of 60 percent of first quarter profits to shareholders, underlining its confidence in the business outlook. Solid financials The group recorded a net profit before associated income of BD146,982 for the three months ended March 31, reflecting a 1.8 percent increase compared to the same period last year. Net profit after associated income rose by 7.1 percent to BD125,810. Revenue for the quarter reached BD3,582,260, reflecting the anticipated seasonal impact of Ramadan and the temporary refurbishment of two outlets, both of which have since successfully resumed operations. Total assets stood at BD27,318,014 with total equity holding firm at BD14,519,517, demonstrating the company's strong balance sheet and financial stability. Expansion initiatives AlAbraaj Restaurants Group is pushing ahead with an aggressive expansion strategy. Three new outlets have opened in Bahrain, including the Camel Club Café at Al Liwan in Hamala on Monday, Lumee at Bahrain City Centre, and Orso, a new Italian dining concept, at The Avenues Bahrain. Additionally, the group has established a wholly owned subsidiary in Saudi Arabia, with plans to open a flagship restaurant in Riyadh in 2026. The regional footprint was further strengthened with the launch of a YaSalam franchise at Jeddah Airport in March. Cost management success Despite challenging market conditions, the company has maintained profitability through stringent cost control measures. Finance costs were reduced by 27.22 percent, supported by a strategic partial principal payment of BD3 million following the company's IPO. AlAbraaj said these measures reflect its commitment to financial discipline while pursuing growth across Bahrain and the wider GCC region. The company remains confident in its ability to leverage its strong financial position to support ongoing investments and expansion plans. The group announced that all branches across Bahrain are fully operational, following successful refurbishments that enhanced service offerings and improved customer experience during the first quarter. AlAbraaj celebrated the opening of three new outlets in Bahrain, reflecting its commitment to introducing fresh concepts and strengthening its leadership position in the Kingdom's dynamic dining scene. The company's establishment of a wholly owned subsidiary in Saudi Arabia was described as a major step forward in its regional expansion strategy, with the upcoming Riyadh flagship restaurant poised to anchor its growing footprint in the Kingdom. AlAbraaj reaffirmed that its substantial asset base and strong equity levels provide a powerful platform to support its ambitious growth agenda, allowing it to capitalise on emerging opportunities and deliver sustained value to stakeholders.
