| ENGROH - Engro Holding Ltd (Formerly DAWH). Consolidated |
| Engro Holding Ltd (ENGROH) stance… |
| Ahsan Muhammad Asif 8/27/2025 12:00:00 AM |
| Engro Corporation (ENGROH) remains a diversified conglomerate with strategic stakes across fertilizers, foods, petrochemicals, power, and telecom infrastructure. Its recent acquisition of Jazz-owned telecom towers through Engro Connect strengthens the company’s infrastructure footprint, positioning it as the largest independent tower operator in Pakistan.
Despite near-term dividend pressure due to funding needs, we maintain a Positive stance on ENGROH given its strong balance sheet, recurring cashflows from subsidiaries, and long-term growth potential.
Key Updates
Subsidiary Dividends
• EFERT, 56.27% stake: EFERT announced dividend of PKR 6.5/sh in 1HCY25 vs. PKR 2.25/sh in 1QCY25.
• EPQL, 68.9% stake: Announced dividend of PKR 10/sh in 1HCY25 vs. PKR 7.5/sh in 1QCY25.
• Other Holdings: FCEPL (39.93%), EPCL (56.19%) continue to provide earnings stability.
• Engro Enfrashare / Connect Acquisition
• Deal Size: $560mn acquisition of 10,500 Jazz towers via Deodar.
• Funding Mix: 67% debt, 33% equity. Transaction includes assumption of Deodar’s $375mn debt + $187.7mn fresh capital.
• Market Position: Engro Enfrashare now controls 14,500 towers, solidifying its status as Pakistan’s largest independent tower company with 53% market share.
• Operational Footprint: Total towers managed expanded to 10,500 towers acquired 14,500 towers.
• Strategic Impact: Enhances recurring lease revenues, cost efficiency through tower sharing, and long-term digital infrastructure positioning.
We maintain a Positive stance on ENGROH, supported by:
• Diversified and resilient earnings base.
• Strong cashflow generation from EFERT, EPCL, and EPQL.
• Strategic expansion into telecom towers, enhancing infrastructure revenues.
• Long-term upside from digital infrastructure growth and cost optimization.
Good ‘long term’ play
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| Link: https://www.linkedin.com/in/mahsan178/ |
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| AIRLINK - Air Link Communication Ltd |
| Airlink Need To Hold Above 160.0 |
| SCS Technical Desk 8/25/2025 12:00:00 AM |
| AIRLINK is showing strong probability of a rebound from the Rs 160.00 – 156.00 support zone. If it holds above this range, an upside move towards Rs 164.00 – 167.00 can be expected in the short term, followed by a potential target at Rs 174.00. The recommended stop-loss is below Rs 154.00 on a closing basis to manage downside risk. |
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| Positive Trajectory In KSE-100 |
| SCS Technical Desk 8/15/2025 12:00:00 AM |
| The Upbeat remained intact maintaining the Positive Trajectory as the Benchmark KSE-100 Index moved in the Uncharted Territory posting a new all time Historical Intraday high of 146,813 and even recording a Historical high closing of 145,382 attaining a gain of 4348 points on WOW.
The Objective and the Psychological Barrier of 145,000 had been breached however the RSI at 80.17 and Immediate Resistance RO in proximity of 148,000 could create Hurdle which if not breached could lead to Pull-back to test of Immediate Support BP/PP, at around 144,500, which is Ascending Trendline or the Floor of the Channel BPRR.
This Floor of the Channel is very Vital if it remains Intact the Benchmark Index is expected to Breakthrough the Immediate Resistance and test the Minor Resistance FF at around 150,000 which is Mid-line of of the Ascending Parallel Channel. The Ceiling of the Channel RR or Psychological Barrier of 155,000 is the Major Resistance.
The Minor Support is Horizontal Axis PK at 141,160. The Major Support is Ascending Trendline BB at around 134,500. |
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| PAKT - Pakistan Tobacco Company Ltd. |
| PAKT Follow Bullish Parallel Channel |
| SCS Technical Desk 8/8/2025 12:00:00 AM |
| SCSTrading Signal Alert – Buy when price closes above 1400 |
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| PPL - Pakistan Petroleum Ltd. |
| PPL Weekly Breakout Confirmed |
| SCS Technical Desk 8/7/2025 12:00:00 AM |
| Sell – Resistance at 200-210 |
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