Mid-cap firms in power sector performed well in 2QFY23

ISLAMABAD: The power generation and distribution sector reported an 8% increase in the market value (MV) as the majority of mid-cap firms did well in the second quarter (Oct-Dec) of the ongoing fiscal year 2022-23 (2QFY23), reports WealthPK.
Of the total 17 companies listed on the Pakistan Stock Exchange in the power generation and distribution sector, 15 remained active during 2QFY23. Out of these 15 active trading firms, nine saw an increase in MV, whereas six firms, including the three with large caps, declined in the quarter under review.
Power Sector – The Gainers in 2QFY23
Collectively, the nine power gainers raised their MV from Rs36 billion to Rs44 billion during 2QFY23.
Tri-Star Power Limited (TSPL) reported the highest increase of 69% in MV, which jumped from Rs60 million to Rs101 million by the end of the second quarter.
Pakgen Power Limited (PKGP) was the second-highest grosser of 2QFY23 as its MV increased 66% from Rs6.7 billion to Rs11 billion.
Lalpir Power Limited (LPL) raised MV by 22% and positioned itself as the third-highest market gainer in the power sector. Engro Powergen Qadirpur Limited (EPQL) with 14% MV captured the fourth position on gainer chart for 2QFY23.
S.G Power Limited (SGPL) and Nishat Chunian Power Limited (NCPL) registered MV increases of 9% and 7%, respectively, during 2QFY23, which placed them at the fifth and sixth positions.
Saif Power Limited (SPWL), Altern Power Limited (ALTN) and Kohinoor Power Company Limited (KOHP), while securing MV gains of 4%, 1% and 0.3%, stood at seventh, eighth and ninth spots, respectively, during 2QFY23.

Power Sector – The Losers in 2QFY23

Large caps (companies with large market capitalisations) disappointed the power sector in terms of market performance during the period under review.
Collectively, the losers’ MV fell from Rs218 billion to Rs192 billion.
Nishat Power Limited (NPL) and the Hub Power Company Limited (HUBC) topped the losers’ chart with the MV loss of 16% each. Their MV value dropped from Rs7.7 billion and Rs97 billion to Rs6.7 billion and Rs81 billion, respectively.
Kot Addu Power Company Limited (KAPCO) and Sitara Energy Limited (SEL) remained the second-highest MV losers with their MV going down by 12% each during 2QFY23.
KAPCO’s MV dropped from Rs26 billion to Rs23 billion and SEL’s from Rs158 million to Rs139 million.
Karachi Electric Limited (KEL) was reported to be the third-highest loser of MV as its value dropped by 7% from Rs80 billion to Rs74 billion by the end of 2QFY23.
Lastly, Kohinoor Energy Limited (KOHE) lost the minimal MV of 2%. Its MV dropped from Rs5.7 billion to Rs5.5 billion in the second quarter of FY23.