Fakiha Tariq

The technology and communication sector boosted the market value during the second quarter (Oct to Dec) of the Fiscal Year 2023 from Rs285 billion to Rs290 billion, adding Rs5.6 billion to the wealth box of the sector, reports WealthPK.

It is the leading active sector on the PSX comprising 16 companies. Systems Limited (SYS) is the largest company in the sector with the market capitalization of Rs133.4 billion whereas Hallmark Company Limited (HCL) is the smallest player with the market cap of Rs61.7 million.

TELECOM GAINERS – 2QFY23

Three out of 16 firms reported increase in their market values during the second quarter of the ongoing Fiscal Year 23. TPL Trakker limited (TPLT) reported the highest market value rise of 30% from Rs1.5 billion to Rs1.9 billion during the second quarter of FY23. Currently, TPLT is the 13^th largest company on the basis of market capitalisation in the telecom sector.

Systems Limited (SYS) was the second-largest market value gainer during 2QFY23. SYS gained 27% of market value from Rs110 billion to Rs140 billion. It is the largest company of the telecom sector of Pakistan. The third and the last gainer during 2QFY23 remained Worldcall Telecom Limited (WTL) which gained 5% in its market value from Rs3.5 billion to Rs3.7 billion in 2QFY23.

TELECOM LOSERS – 2QFY23

Owing to the current recession, most firms experienced market value loss in the second quarter of FY23. Thirteen out of 16 firms reported an average market value loss of 15% during the period under review. Telecard Limited (TELE) was reported to be the top loser in term of market value during 2QFY23. TELE lost 36% of its market value from Rs3.5 billion to Rs2.2 billion.

Followed by TELE, Hallmark company limited (HCL) experienced the second-highest drop in market value of 25% during the second quarter of FY23. HCL market value dropped from Rs83 million to Rs62 million during the said period of time. Both TRG Pakistan Limited (TRG) and Air Link Communication limited (AIRLINK) lost 16% of market value in 2QFY23.

Avanceon Limited (AVN) and NetSol Technologies Limited (NETSOL) lost 15% and 14% of MV respectively, whereas TPL Corp Limited (TPL) and Octopus Digital Limited (OCTOPUS) experienced 13% of market value decline in 2QFY23.

The market value of Pakistan Telecommunication Company Limited (PTC) dropped by 10% and HUM Network Limited (HUMNL) by 8% in the second quarter of FY23. GEMSPNL and MDTL reported a MV loss of 4% each whereas, Pak Datacom Limited (PAKD) experienced the lowest decline of 3% in market value in the telecom sector during the second quarter of FY23.

Credit: Independent News Pakistan-WealthPk