We reinstate our coverage on Amreli Steels Limited (ASTL) with a DCF based TP of PKR46/sh translating into an upside of 25% from last market close.

We like OGDC due to its undemanding valuations, rebounding and sustaining oil prices at USD 40/bbl level, and low sensitivity to oil prices. Ration

Inflation readings for the month of Jun20 are expected to be announced wherein we expect the number to clock-in at 8.4% YoY (+0.7% MoM) vis-a-vis 8