Equity research on Pakistan Stock Exchange companies, published with the record attached.
Every view is tracked whether it works or not. The portfolio is my own money and the returns are published next to the index over the identical period, which is the only comparison that means anything.
Written by Qasim Jutt
Hit rate
67%
2 right · 1 wrong · 1 open
Views published
4
Companies covered
2
Latest views
The currency tailwind that has flattered four years of margin is being quietly eaten by wage inflation, and the reported growth rate is a worse guide to the next three years than the falling net margin is.
The market is pricing Engro Fertilizers as though the current gas tariff is permanent, when the pass-through record suggests most of a further increase would reach the farmgate within two quarters.
The Gulf expansion is being valued as new growth when it is largely lower-margin work replacing hiring capacity that would otherwise have gone to North American clients.
Subsidy reform would compress fertiliser margins through 2025 as the sector lost its cost advantage faster than it could reprice.
Every view I have published, including the wrong ones →Companies covered
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