MG Morning Breeze: Updates to Skim before Market

Mettis Global’s November 10 morning roundup covered several company and market developments. The Sindh High Court directed Unity Foods to fill board vacancies in a way that gives Wilmar Pakistan Holdings and/or its group a majority, while Bank Alfalah completed the transfer of its Afghanistan operations to Ghazanfar Bank on November 5.

Pioneer Cement signed a contract for a 15 MW battery storage system and a 10 MW solar installation at its Chenki facility. Aisha Steel increased cold-rolled coil prices by Rs9,000 per ton, First IBL Modaraba approved in principle a subsidiary focused on EV mobility and trading, and PSO named Mustafa Ramday as chairman of its reconstituted board. The roundup also reported a 4.49% weekly rise in the KSE-100 and a wider October trade deficit of $3.88bn.