KARACHI: The Pakistan Stock Exchange is exploring the possibility of further enhancement in the circuit breakers (CBs) from existing 7.5 per cent to 10pc in a phased manner along with the introduction of second level of index-based market halt at 7pc, it said in a notice to market participants, on Wednesday.

It said that the circuit breakers will increase 0.50pc after every two weeks and once the level of 10pc was reached, the second level of market halt would be implemented upon 7pc move of the KSE-30 index.

The PSX stated that the enhancement of scrip-based CBs was implemented in a phased manner along with introduction of index-based market halt in January earlier this year.

CBs were enhanced from 5pc to 7.5pc in a phased manner and market halt was implemented based on KSE-30 index movement, initially at 4pc and later raised to 5pc.

Atlas Honda profits fall to Rs146m

Atlas Honda Cars (Pakistan) Ltd reported after tax profit at Rs146 million and earning per share at Rs1.02 for the six months ended September 2020, down from PAT at Rs751m and EPS at Rs5.26 in the corresponding period of the previous year.

Meanwhile, PAT for the latest quarter July-Sept increased to Rs656m and EPS at Rs4.60, from Rs510m and EPS at Rs3.57.

Panther Tyres plans Rs1.4bn IPO

Panther Tyres Ltd has applied for listing on the stock exchange to raise Rs1.4 billion for expansion, a press release issued by the PSX said on Wednesday. The company plans to issue 40m ordinary shares at a floor price of Rs47 per share — which is at a premium of Rs37 per ordinary share.Arif Habib Ltd is the lead manager and book runner of the initial public offering and the draft prospectus has been uploaded on the PSX website.

Published in Dawn, November 19th, 2020