Latest news with #Rs2.96
Time of India
a day ago
- Health
- Time of India
Tamil Nadu chief minister to unveil ‘Nalam Kakkum Stalin' initiative soon
Namakkal: Health minister Ma Subramanian on Saturday said chief minister M K Stalin would soon unveil the 'Nalam Kakkum Stalin' initiative, under which 1,256 special medical camps would be held across the state, offering free health check-ups for the needy and disabled people, who would be issued disability certificates as well. Since Stalin took office as the chief minister, Rs360.75 crore have been spent on medical services and infra for the residents of Namakkal district alone, Subramanian said after inaugurating five projects completed at a cost of Rs2.96 crore and laying foundation for 13 new projects worth Rs8.30 crore. According to the minister, the govt has set up eight urban health centres at a cost of Rs2 crore, 14 sub-health centres for Rs3.51 crore and 13 primary health centres at a cost of Rs5.96 crore in Namakkal district. Other health infrastructure that the district received include public health units, nurses' quarters, a new building with outpatient services, laboratory, accident and emergency care, intensive care unit and surgical department at Kumarapalayam govt hospital, a blood bank at Kollimalai govt hospital and a new building at Tiruchengode govt hospital, he said. "In addition, 20 healthcare projects are currently in progress at a cost of Rs110.95 crore. One of them includes construction of a 50-bed intensive care unit at Paramathi Velur govt hospital at a cost of Rs23.75 crore," the minister said.
Express Tribune
25-02-2025
- Business
- Express Tribune
PSX modestly higher over economic cues
Foreign institutional investors were net buyers of Rs37.6 million worth of shares during the trading session. PHOTO: AFP Listen to article Pakistan Stock Exchange (PSX) on Tuesday closed modestly higher as it took cue from robust financial results in key sectors. The KSE-100 index reached the high of 115,890 during the day, before settling at 114,528, an increase of 198 points. Bullish activity was driven by several factors including an anticipated reduction in industrial power tariffs, low inflation, the potential privatisation of state-owned enterprises (SOEs) and the upcoming International Monetary Fund (IMF) review. Analysts expressed optimism about the market's trajectory, predicting further upward movement based on current trends and anticipated developments. Ahsan Mehanti of Arif Habib Corp commented that stocks closed higher in an earnings season rally amid robust financials in fertiliser, cement, oil and banking sectors. He added that expectations of reduction in industrial power tariffs, alongside thin inflation for February 2025, potential privatisation of SOEs and positive indicators ahead of IMF review next week played the role of catalysts in bullish close at the PSX. At the end of trading, the benchmark KSE-100 index recorded an increase of 197.98 points, or 0.17%, and settled at 114,528.09. In its review, Topline Securities stated that the KSE-100 index showed an upward trend, supported by local fund buying, as reported by the National Clearing Company on Monday. It reached the high of 115,890 points before closing at 114,528. The rise was largely driven by Bank AL Habib, MCB Bank, Oil and Gas Development Company, Maple Leaf Cement and Mari Petroleum, which together contributed 296 points. In contrast, Fauji Fertiliser Company, Hub Power and TRG Pakistan erased 146 points, it said. Arif Habib Limited (AHL) reported that KSE-100 made more upside progress as it reached the high of 115,800 during the day. Some 51 stocks rose while 45 fell, with Bank AL Habib (+2.73%), MCB Bank (+1.96%) and Oil and Gas Development Company (+1.41%) contributing the most to index gains. On the other hand, Fauji Fertiliser Company (-0.54%), Hub Power (-1.15%) and TRG Pakistan (-5.07%) were the biggest drags, it observed. AHL added that Fauji Cement (-2.38%) reported 1HFY25 earnings per share (EPS) of Rs2.96, an increase of 38% year-on-year, which was in line with expectations. "We are looking for a close above 115,000 points this week to set up a move towards old highs. The current setup indicates minimal downside and upside acceleration," it commented. JS Global analyst Muhammad Hasan Ather remarked that the benchmark KSE-100 index closed up 198 points after touching the intra-day high of 115,890. Investor optimism was spurred by anticipated fiscal incentives for the construction sector and positive economic indicators, he said. Additionally, Finance Minister Muhammad Aurangzeb's supportive stance and robust economic data further bolstered confidence. "The current pre-budget rally suggests continued bullish sentiment, with hopes of IMF loan programme expansion and strong remittance inflows driving future market gains," said Ather. Overall trading volumes increased to 496 million shares compared with Monday's tally of 455.5 million. The value of shares traded during the day stood at Rs29.4 billion. Shares of 444 companies were traded. Of these, 169 stocks closed higher, 223 fell and 52 remained unchanged. Fauji Cement was the volume leader with trading in 61.1 million shares, falling Rs1.01 to close at Rs41.46. It was followed by Maple Leaf Cement with 33.8 million shares, gaining Rs2.09 to close at Rs51.13 and At-Tahur Limited with 23.9 million shares, gaining Rs1.08 to close at Rs29.08. During the day, foreign investors sold shares worth Rs260.3 million, the National Clearing Company of Pakistan reported.
