Latest news with #Rs19
Business Recorder
4 days ago
- Business
- Business Recorder
Islamabad: prices of essential kitchen items show rising trend
ISLAMABAD: The prices of essential kitchen items have witnessed an increase during this week past against the previous week owing to third successive increase in petrol and diesel prices, revealed a survey carried out by Business Recorder here on Saturday. Within the past one and half month, the government has increased the price of High Speed Diesel (HSD) oil mainly used for transportation purposes from trains to trucks, buses and trailers by Rs29 per litre and petrol mainly used by private and small vehicles by Rs19 per litre. The increase in fuel prices has played a major role in escalating the prices as transportation cost has jumped up by at least 10 per cent during the period which not only resulted in increasing the prices of daily use items but also edible items from vegetables, meat, eggs to fruits. An increase was noted in chicken prices as it went up from Rs16,000 to Rs16,400 per 40kg in the wholesale market, which in retail is being sold at Rs440 per kg and chicken meat at Rs700 per kg. Eggs' price went up from Rs7,000 to Rs7,300 per carton of 30 dozen which in retail is being sold in the range of Rs260-275 against Rs250-260 per dozen. Sugar price went down from Rs9,100 to Rs8,800 per 50kg bag in the wholesale market, while in retail it is being sold at 190 per kg. Wheat flour price remained unchanged as the best quality wheat flour ex-mill price per 15kg bag is at Rs1,100 which in retail is being sold at Rs1,150 per 15kg bag and normal quality wheat flour per 15kg bag is available at Rs1,000 which in retail is being sold at Rs1,050 per bag. Copyright Business Recorder, 2025
Hans India
4 days ago
- Business
- Hans India
Consumer biz fuels RIL's Q1 net to record high
New Delhi: India's most valuable company Reliance Industries (RIL) on Friday reported its highest-ever quarterly profit of Rs26,994 crore for the April-June quarter, reflecting a growth of 78.3 per cent over the year-ago period, driven by a bumper showing of consumer businesses. The oil-to-retail-to-telecom conglomerate's consolidated net profit attributable to owners of the company stood at Rs26,994 crore or Rs19.95 per share, in April-June 2025 compared to Rs15,138 crore earnings in the year-ago period, according to an exchange filing. The net profit was also 39 per cent higher quarter-on-quarter when compared to Rs19,407 crore earnings in the preceding three months ended on March 31. RIL Chairman and Managing Director, MukeshAmbani said that Reliance has begun FY26 with a robust, all-round operational and financial performance. 'Consolidated EBITDA for the first quarter of FY26 improved strongly from a year-ago period, despite significant volatility in global macros. During the quarter, energy markets encountered heightened uncertainty, with sharp fluctuations in crude prices. Our O2C business delivered strong growth, with thrust on domestic demand fulfillment and offering value-added solutions through the Jio-bp network. Performance was supported by improvement in fuel and downstream product margins,' Ambani said. The firm helmed by billionaire MukeshAmbani continued to post an uptick in consumer businesses -- retail and telecom. While Jio was helped by a rise in consumer base, the retail business delivered steady performance due to an increase in footfalls at its expanded store network. Revenue from operations was up by 5.26 per cent to Rs2.48 lakh crore in the first quarter of 2025-26 compared to Rs2.36 lakh crore in the year-ago period. The mainstay oil refining and petrochemicals business, called O2C, posted a 1.5 per cent decline Y-o-Y due to a fall in crude oil prices and lower volumes on account of the planned shutdown. Segment revenues were supported by increased domestic placement of transportation fuels through Jio-bp, a company statement said.
Hans India
4 days ago
- Business
- Hans India
Torrent Pharma set to be India's 2nd pharma major
New Delhi: Ahmedabad-based Torrent Pharmaceuticals has sought fair trade regulator CCI's clearance to acquire a majority stake in in JB Chemicals and Pharmaceuticals in a Rs19,500-crore the completion of the deal, Torrent Pharmaceuticals will become India's second most valued pharma company. The development came after Torrent Pharmaceuticals in June this year announced the acquisition of a majority stake in JB Chemicals and Pharmaceuticals in a Rs19,500-crore deal. 'The proposed combination relates to acquisition of shareholding by the acquirer (Torrent Pharmaceuticals Ltd) in the target (JB Chemicals & Pharmaceuticals Ltd) and the subsequent amalgamation of the target with the acquirer,' according to a notice filed with the Competition Commission of India (CCI). Torrent Pharmaceuticals is the flagship company of the Torrent group and is engaged in the business of manufacturing and sale of pharmaceutical formulations (FDFs) across therapeutic segments.
Business Recorder
15-07-2025
- Business
- Business Recorder
NA panel forms body to address Rs19bn default by LDI operators
ISLAMABAD: The National Assembly Standing Committee on Information Technology and Telecommunication on Monday constituted a sub-committee to address the alarming default of around Rs19 billion by nine Long Distance and International (LDI) operators. The Pakistan Telecommunication Authority (PTA) informed the committee that more than 100 related cases are pending in various courts, while six of the defaulters have expressed willingness to settle their dues. A structured recovery mechanism, including an instalment-based plan, is under consideration and a proposal has already been submitted to the federal cabinet for guidance. The committee, chaired by MNA Syed Aminul Haq, also decided to convene an in-camera meeting to thoroughly review the confidential Sale and Purchase Agreement between the Government of Pakistan and M/s Etisalat, after expressing strong displeasure over PTCL's refusal to share specific clauses of the deal. The Privatization Commission informed the committee that Clause 6 of the agreement restricts disclosure without mutual consent of both parties. The committee directed that representatives from the Ministry of IT, Ministry of Law and Justice, Privatization Commission, and M/s Etisalat be invited to the next meeting. Meanwhile, the Universal Service Fund (USF) briefed the committee that areas in district Tharparkar and Sargodha Division remain severely underserved in terms of internet and voice call access. Although fibre optic infrastructure exists, telecom services remain unavailable in many parts. The USF stated that specific projects for these regions have been approved and are at the final implementation stage. The committee instructed USF to submit a list of all such projects planned for execution over the next three to five years and directed PTA to ensure service delivery in those areas. On the issue of internet suspension in district Panjgur, the committee urged the Ministry of IT to coordinate with the Ministry of Interior, provincial authorities, and law enforcement agencies to devise a workable solution. The PTA was also instructed to maintain connectivity through the existing fibre optic infrastructure despite service disruptions. MNAs Zulfiqar Ali Bhatti, Dr Mahesh Kumar Malani, Sadiq Ali Memon, Ahmad Saleem Siddiqui, Pullain Baloch, Sher Ali Arbab, and Umair Khan Niazi, along with senior officials from the ministry and its attached departments, attended the meeting. Copyright Business Recorder, 2025
Express Tribune
12-07-2025
- Business
- Express Tribune
PSX extends record rally on investor interest
Listen to article The benchmark KSE-100 index at the Pakistan Stock Exchange (PSX) closed the week at a new record high on Friday to settle at 134,300 points as bullish sentiment prevailed amid robust corporate results and continued institutional inflows. Investor activity was particularly fueled by strong earnings of UBL, which posted a 99% year-on-year (YoY) surge in 1HCY25 earnings per share to Rs26.07 and declared a higher-than-expected dividend of Rs19 per share. Market breadth remained positive, with 55 stocks advancing and 45 declining. UBL (+2.4%), Hubco (+1.6%) and Millat Tractors (+2.76%) were the top contributors to the day's gains, collectively lifting the index by over 300 points. Meanwhile, pressure in select banking names such as Bank AL Habib (-3.3%), MCB Bank (-1.04%) and HBL (-1.22%) limited the upside. At close, the benchmark KSE-100 index posted a gain of 517.42 points, or 0.39%, and settled at 134,299.77. Trading activity remained strong, with volumes reaching 765 million shares and a traded value of Rs40 billion. Analysts at Topline Securities attributed the day's momentum to rising mutual fund allocations to equities, shifting away from fixed income, as shown in the National Clearing Company data. With macroeconomic indicators improving and remittances hitting a record $38.3 billion, sentiment continued to remain bullish, setting the stage for a potential test of 136,000 in the sessions ahead. Traded value-wise, UBL (Rs2.32 billion), DG Khan Cement (Rs1.64 billion), Attock Refinery (Rs1.61 billion), Hubco (Rs1.44 billion), The Bank of Punjab (Rs1.24 billion) and Maple Leaf Cement (Rs1.19 billion) dominated the trading activity, Topline said. "Stocks closed at a new all-time high in the earnings season rally as investors weighed surging forex reserves that reached $20 billion and upbeat auto sales data, which showed a 38% YoY growth for FY25," said Arif Habib Corp MD Ahsan Mehanti. The revision in development spending to Rs1.05 trillion for FY25 and record remittances played the role of catalysts for the new peak at the PSX, he added. Arif Habib Limited (AHL) wrote in its report that the KSE-100 index enjoyed another solid week, gaining 1.8% week-on-week, on the back of strong corporate earnings and investor interest. On Friday, 55 stocks advanced while 45 declined, where UBL (+2.4%), Hubco (+1.6%) and Millat Tractors (+2.76%) contributed the most to index gains. In contrast, Bank AL Habib (-3.3%), MCB Bank (-1.04%) and HBL (-1.22%) were the biggest drags. UBL announced 1HCY25 earnings per share of Rs26.07, up 99% YoY, and a dividend payout of Rs19 per share. Earnings were in line with expectations while the payout exceeded estimates. For the coming week, technical indicators suggest support at around 132,000, with a potential upside towards 136,000, AHL said. Overall trading volumes were recorded at 765.1 million shares, compared with the previous session's tally of 941.7 million. The value of shares traded during the day was Rs40.2 billion. Shares of 477 companies were traded. Of these, 220 stocks closed higher, 228 fell and 29 remained unchanged. The Bank of Punjab was the volume leader with trading in 94.1 million shares, gaining Rs0.08 to close at Rs13.08. It was followed by Aisha Steel Mills with 25.1 million shares, gaining Rs0.44 to close at Rs12.11 and Kohinoor Spinning Mills with 23.6 million shares, losing Rs0.20 to close at Rs6.69. Foreign investors sold shares worth Rs350 million, the National Clearing Company reported.
