Capital Asset Pricing model xls

Investment Analysis and Pritfolio Management

Assingment: KSE-100

Sector: Cement

Sample Size: 6 (The Top Six Market Value Companies)

Data From: June 2010 to June 2012

Submitted to: Dr. Arshad Hassan

Submitted by: Manasoor Ahmad

Class No. 9347

Jun-10Company No. of Shares PPS

Lucky Cement 323375000 62.14

D.G.Cement 365099200 23.62

Attock Cem.Pak. 86595400 65.5

Bestway Cement Ltd 327547600 14.28

Javedan Cement 58128200 63.9

Lafarge Pakistan 1312644500 2.74

TotalIndex

JULY 012Mkt Value Company

20094522500 Lucky Cement 8623643104 D.G.Cement5671998700 Attock Cem.Pak.4677379728 Bestway Cement Ltd 3714391980 Lafarge Pakistan 3596645930 Javedan Cement

46378581942 Total1000 Index

JULY 012No. of Shares PPS Mkt Value

323375000 69.6 22506900000

365099200 27.97 10211824624

86595400 70.99 6147407446

327547600 16.44 5384882544

1312644500 3.16 4147956620

58128200 61.95 3601041990

52000013224

1121.20748514972

Aug-10Company No. of Shares PPS Mkt Value

Lucky Cement 323375000 68.52 22157655000

D.G.Cement 365099200 24.38 8901118496

Bestway Cement Ltd 327547600 18.39 6023600364

Attock Cem.Pak. 86595400 66.96 5798427984

Lafarge Pakistan 1312644500 2.93 3846048385

Javedan Cement 58128200 64 3720204800

Total 50447055029

Index 1087.7231022735

Sep-10Company No. of Shares PPS

Lucky Cement 323375000 69.16


D.G.Cement 365099200 23.92




TotalIndex

Oct-10Mkt Value Company No. of Shares

22364615000 Lucky Cement 323375000

8909294720 D.G.Cement 365099200

8733172864 Bestway Cement Ltd 327547600

5571548036 Attock Cem.Pak. 86595400

3727910380 Lafarge Pakistan 1312644500

3562096096 Javedan Cement 58128200

52868637096 Total1139.9364724458 Index

Oct-10 Nov-10PPS MKT Value Company

73.07 23629011250 Lucky Cement 27.33 9978161136 D.G.Cement23.25 7615481700 Bestway Cement Ltd 58.3 5048511820 Attock Cem.Pak.2.91 3819795495 Lafarge Pakistan

59.85 3478972770 Javedan Cement53569934171 Total

1155.05761340425 Index

Nov-10No. of Shares PPS Mkt Value

323375000 75.08 24278995000

365099200 28.25 10314052400

327547600 22.8 7468085280

86595400 62.37 5400955098

1312644500 3 3937933500

58128200 59.99 3487110718

54887131996

1183.4586073511

Dec-10Company No. of Shares PPS Mkt Value

Lucky Cement 323375000 75.79 24508591250

D.G.Cement 365099200 28.26 10317703392


Attock Cem.Pak. 86595400 63.11 5465035694


Javedan Cement 58128200 59.97 3485948154

Total 54902121695

Index 1183.781810398

Jan-11Company No. of Shares PPS

Lucky Cement 323375000 72.34

D.G.Cement 365099200 29.55





TotalIndex

Feb-11Mkt Value Company No. of Shares

23392947500 Lucky Cement 323375000

10788681360 D.G.Cement 365099200

4672687784 Attock Cem.Pak. 86595400



3428982518 Javedan Cement 58128200

50814014457 Total1095.6353629041 Index

Feb-11 Mar-11PPS MKT Value Company

61.47 19877861250 Lucky Cement 22.55 8232986960 D.G.Cement50.62 4383459148 Attock Cem.Pak.12.67 4150028092 Bestway Cement Ltd 2.78 3649151710 Lafarge Pakistan 59.7 3470253540 Javedan Cement

43763740700 Total943.6196379339 Index

Adjustment due to (Gharibwal)

CompanyLucky Cement

D.G.CementAttock Cem.Pak.

Bestway Cement Ltd Lafarge Pakistan

GharibwalTotal

Common Denomenator

Mar-11No. of Shares PPS Mkt Value

323375000 67.48 21821345000

365099200 25.73 9394002416

86595400 52.44 4541062776

327547600 12.66 4146752616

1312644500 3.11 4082324395

58128200 60.5 3516756100

47502243303

1024.228023237

Adjustment due to (Gharibwal)

No. of Shares PPS Mkt Value323375000 67.48 21821345000

365099200 25.73 9394002416

86595400 52.44 4541062776

327547600 12.66 4146752616

1312644500 3.11 4082324395

400274000 5.9 2361616600

46347103803

Common Denomenator 45250767164.63 Common Denomenator

Apr-11Company No. of Shares PPS Mkt Value

Lucky Cement 323375000 73.4 23735725000

D.G.Cement 365099200 24.02 8769682784

Attock Cem.Pak. 86595400 53.27 4612936958


Gharibwal 400274000 10.48 4194871520


Total 49899172911

Index 1102.7254572161

Adjustment For Javedan Cement

Company No. of Shares PPS Mkt ValueLucky Cement 323375000 73.4 23735725000

D.G.Cement 365099200 24.02 8769682784

Attock Cem.Pak. 86595400 53.27 4612936958



Javedan Cement 58128200 61.8 3592322760

Total 49296624151

Common Denomenator 44704349417.535

May-11Company No. of Shares PPS

Lucky Cement 323375000 71.08

D.G.Cement 365099200 23.1



Lafarge Pakistan 1312644500 3


TotalIndex

Adjustment For D. G. Cement Issuing New Shares

Company No. of Shares PPSLucky Cement 323375000 71.08

D.G.Cement 438119100 23.1



Lafarge Pakistan 1312644500 3


TotalCommon Denomenator

Jun-11Mkt Value Company No. of Shares

22985495000 Lucky Cement 323375000

8433791520 D.G.Cement 438119100

4753221506 Attock Cem.Pak. 86595400


3937933500 Javedan Cement 58128200


47975193672 Total1073.1661303 Index

Adjustment For D. G. Cement Issuing New Shares Adjustment For July 2011

Mkt Value Company No. of Shares22985495000 Lucky Cement 323375000

10120551210 D.G.Cement 438119100


4297424512 Fauji Cement 1331115800

3937933500 Atock Cem.Pak. 86595400

3567327634 Javedan Crop 58128200

49661953362 Total46276109504.23 Common Denomenator

Jun-11 Jul-11PPS MKT Value Company

70.84 22907885000 Lucky Cement 22.99 10072358109 D.G.Cement48.53 4202474762 Bestway Cement Ltd 12.12 3969876912 Fauji Cement61.37 3567327634 Atock Cem.Pak.

2.7 3544140150 Javedan Crop48264062567 Total

1042.95851756 Index

PPS MKT Value70.84 22907885000

22.99 10072358109

12.12 7007808240

4.12 5484197096

48.53 4202474762

61.37 3567327634

53242050841

51049058945.8

Jul-11No. of Shares PPS Mkt Value

323375000 73.12 23645180000

438119100 22.58 9892729278

578202000 11.28 6522118560

1331115800 3.93 5231285094

86595400 46.88 4059592352

58128200 61.37 3567327634

52918232918

1036.6152483664

Aug-11Company No. of Shares PPS Mkt Value

Lucky Cement 323375000 73.32 23709855000

D.G.Cement 438119100 19.59 8582753169


Fauji Cement 1331115800 3.12 4153081296

Atock Cem.Pak. 86595400 44.01 3811063554

Javedan Crop. 58128200 61.37 3567327634

Total 50346199213

Index 986.2316809096

Sep-11Company No. of Shares PPS

Lucky Cement 323375000 75.52

D.G.Cement 438119100 20.57


Fauji Cement 1331115800 4

Atock Cem.Pak. 86595400 54.02

Javedan Crop. 58128200 64.05

TotalIndex

Oct-11Mkt Value Company No. of Shares

24421280000 Lucky Cement 323375000

9012109887 D.G.Cement 438119100

5383060620 Fauji Cement 1331115800


4677883508 Atock Cem.Pak. 86595400

3723111210 Javedan Crop. 58128200

52541908425 Total1029.2434279887 Index

Oct-11 Nov-11PPS MKT Value Company

82.91 26811021250 Lucky Cement 21.06 9226788246 D.G.Cement3.89 5178040462 Fauji Cement8.11 4689218220 Bestway Cement Ltd52 4502960800 Atock Cem.Pak.

63.5 3691140700 Javedan Crop.54099169678 Total

1059.748618195 Index

Nov-11No. of Shares PPS Mkt Value

323375000 81.6 26387400000

438119100 20.75 9090971325

1331115800 3.73 4965061934

578202000 8.11 4689218220

86595400 52.79 4571371166

58128200 63.62 3698116084

53402138729

1046.0944791493

Dec-11Company No. of Shares PPS Mkt Value

Lucky Cement 323375000 75.04 24266060000

D.G.Cement 438119100 19.03 8337406473


Atock Cem.Pak. 86595400 51 4416365400

Fauji Cement 1331115800 3.3 4392682140

Javedan Crop. 58128200 63.5 3691140700

Total 49960551513

Index 978.6772282329

Jan-12Company No. of Shares PPS

Lucky Cement 323375000 84.8

D.G.Cement 438119100 23.19

Fauji Cement 1331115800 3.78

Atock Cem.Pak. 86595400 57.5


Javedan Crop. 58128200 62.2

TotalIndex

Feb-12Mkt Value Company No. of Shares

27422200000 Lucky Cement 323375000

10159981929 D.G.Cement 438119100


4979235500 Fauji Cement 1331115800

4856896800 Atock Cem.Pak. 86595400

3615574040 Javedan Crop. 58128200

56065505993 Total1098.267179665 Index

Adjustment For Mar 2012

Company No. of SharesLucky Cement 323375000

D.G.Cement 438119100

Bestway Cement Ltd 578202000

Fauji Cement 1331115800

Atock Cem.Pak. 86595400

Lafarge Pakistan 1312644500

TotalCommon Denomenator

Feb-12 Mar-12PPS MKT Value Company

99.01 32017358750 Lucky Cement 28.03 12280478373 D.G.Cement15.93 9210757860 Bestway Cement Ltd4.45 5923465310 Fauji Cement59.4 5143766760 Atock Cem.Pak.

61.99 3603367118 Lafarge Pakistan 68179194171 Total

1335.562213661 Index

PPS MKT Value99.01 32017358750

28.03 12280478373

15.93 9210757860

4.45 5923465310

59.4 5143766760

2.52 3307864140

67883691193

50827801579.472

Mar-12No. of Shares PPS Mkt Value

323375000 113.45 36686893750

438119100 36.37 15934391667

578202000 20.01 11569822020

1331115800 5.62 7480870796

86595400 76.73 6644465042

1312644500 4.82 6326946490

84643389765

1665.2970841687

Apr-12Company No. of Shares PPS Mkt Value

Lucky Cement 323375000 130.23 42113126250

D.G.Cement 438119100 39.93 17494095663

Bestway Cement Ltd 578202000 25 14455050000

Fauji Cement 1331115800 6.52 8678875016

Atock Cem.Pak. 86595400 81.77 7080905858


Total 96162125722

Index 1891.91982997031

May-12Company No. of Shares PPS

Lucky Cement 323375000 126.29

D.G.Cement 438119100 41.14


Fauji Cement 1331115800 6.15

Atock Cem.Pak. 86595400 79.24


TotalIndex

Adjustment For Jun-2102

Jun-12Company No. of Shares PPS

Al-Abbas Cement 365690000 3.85

Zeal Pak 427838500 0.44

Thatta Cement 99718100 23

Safe Mix 20000000 6

Pioneer Cement 227148800 10.67

Mustehkam 129260900 12.7

TotalIndex

Jun-12Mkt Value Company No. of Shares

40839028750 Al-Abbas Cement 365690000

18024219774 Zeal Pak 427838500

16016195400 Thatta Cement 99718100

8186362170 Safe Mix 20000000

6861819496 Pioneer Cement 227148800

5959406030 Mustehkam 129260900

95887031620 Total1886.50755374644 Index

MKT Value

1407906500

188248940

2293516300

120000000

2423677696

1641613430

8074962866

4280376640.93304

Jun-12PPS MKT Value

4.8 1755312000

0.44 188248940

21.03 2097071643

6.01 120200000

9.2 2089768960

15.05 1945376545

8195978088

1914.7796503752

Jun-10Company No. of Shares Close Mkt ValueLucky Cement 323375000 62.14 20094522500D.G.Cement 365099200 23.62 8623643104Attock Cem.Pak. 86595400 65.5 5671998700Bestway Cement Ltd 327547600 14.28 4677379728Javedan Cement 58128200 63.9 3714391980Lafarge Pakistan 1312644500 2.74 3596645930Fauji Cement 693289500 4.55 3154467225Thatta Cement 79774500 20.88 1665691560Gharibwal 231876400 6.03 1398214692Pioneer Cement 199532300 6.37 1271020751Maple Leaf 372263400 3.11 1157739174Cherat Cement 95580100 9.22 881248522Kohat Cement 128757200 6.6 849797520Al-Abbas Cement 182845000 3.59 656413550Dewan Cement 357375000 1.72 614685000

41697100 14.5 604607950Flying Cement Ltd 176000000 2.05 360800000D.G.Cement (R) 60849900 5.71 347452929Fecto Cenent 50160000 5.9 295944000Dandot Cement 94840000 2.46 233306400Maple Leaf (Pref) 54147400 4.15 224711710

98236600 2.05 201385030Zeal Pak 427838500 0.44 188248940Safe Mix 20000000 7.45 149000000Total 60633316895Total

Mustehkam (D)

Dadabhoy Cement (D)

JULY 012Company No. of Shares CloseLucky Cement 323375000 69.6D.G.Cement 365099200 27.97Attock Cem.Pak. 86595400 70.99Bestway Cement Ltd 327547600 16.44Lafarge Pakistan 1312644500 3.16Javedan Cement 58128200 61.95Fauji Cement 693289500 5.03Thatta Cement 79774500 20.48Pioneer Cement 222755100 7.1Gharibwal 231876400 6.47Pioneer Cement 199532300 7.1Maple Leaf 372263400 3.49Cherat Cement 95580100 10.03Kohat Cement 128757200 6.52Al-Abbas Cement 182845000 3.82Dewan Cement 357375000 1.85

41697100 11Flying Cement Ltd 176000000 2.07Fecto Cenent 50160000 6.48Dandot Cement 94840000 2.98Maple Leaf (Pref) 54147400 4.99

98236600 2Zeal Pak 427838500 0.44Safe Mix 20000000 7.69

Mustehkam (D)

Dadabhoy Cement (D)

Aug-10Mkt Value Company No. of Shares Close

22506900000 Lucky Cement 323375000 68.5210211824624 D.G.Cement 365099200 24.38

6147407446 Bestway Cement Ltd 327547600 18.395384882544 Attock Cem.Pak. 86595400 66.964147956620 Lafarge Pakistan 1312644500 2.933601041990 Javedan Cement 58128200 643487246185 Fauji Cement 693289500 5.121633781760 Pioneer Cement 222755100 7.51581561210 Thatta Cement 79774500 20.481500240308 Gharibwal 231876400 6.251416679330 Maple Leaf 372263400 3.091299199266 Cherat Cement 95580100 11.1

958668403 Kohat Cement 128757200 6.17839496944 Al-Abbas Cement 182845000 3.4698467900 Dewan Cement 357375000 1.59661143750 41697100 12458668100 Flying Cement Ltd 176000000 1.98364320000 Fecto Cenent 50160000 5.6325036800 Maple Leaf (Pref) 54147400 4.99282623200 Zeal Pak 427838500 0.44270195526 98236600 1.69196473200 Dandot Cement 94840000 1.7188248940 Safe Mix 20000000 6.46153800000

Mustehkam (D)

Dadabhoy Cement (D)

Sep-10Mkt Value Company No. of Shares Close22157655000 Lucky Cement 323375000 69.16

8901118496 Bestway Cement Ltd 327547600 27.26023600364 D.G.Cement 365099200 23.925798427984 Attock Cem.Pak. 86595400 64.343846048385 Lafarge Pakistan 1312644500 2.843720204800 Javedan Cement 58128200 61.283549642240 Fauji Cement 693289500 4.691670663250 Pioneer Cement 222755100 7.421633781760 Thatta Cement 79774500 19.781449227500 Maple Leaf 372263400 2.831150293906 Cherat Cement 95580100 10.961060939110 Gharibwal 231876400 3.6

794431924 Kohat Cement 128757200 6.1621673000 Al-Abbas Cement 182845000 3.2568226250 Dewan Cement 357375000 1.53500365200 41697100 11.95348480000 Maple Leaf (Pref) 54147400 6.989280896000 Flying Cement Ltd 176000000 1.93270195526 Fecto Cenent 50160000 5.2188248940 Dandot Cement 94840000 2.22166019854 Zeal Pak 427838500 0.44161228000 98236600 1.73129200000 Safe Mix 20000000 6.4

Mustehkam (D)

Dadabhoy Cement (D)

Oct-10Mkt Value Company No. of Shares Close22364615000 Lucky Cement 323375000 73.07

8909294720 D.G.Cement 365099200 27.338733172864 Bestway Cement Ltd 327547600 23.255571548036 Attock Cem.Pak. 86595400 58.33727910380 Lafarge Pakistan 1312644500 2.913562096096 Javedan Cement 58128200 59.853251527755 Fauji Cement 693289500 4.821652842842 Pioneer Cement 222755100 7.991577939610 Thatta Cement 79774500 19.51053505422 Maple Leaf 526109500 2.851047557896 Cherat Cement 95580100 11.93

834755040 Maple Leaf 372263400 2.85785418920 Kohat Cement 128757200 6.15585104000 Gharibwal 231876400 3.03546783750 Al-Abbas Cement 182845000 3.05498280345 Dewan Cement 357375000 1.55

378436178.6 41697100 11.5339680000 Maple Leaf 153846100 2.85260832000 Maple Leaf (Pref) 54147400 7.89210544800 Flying Cement Ltd 176000000 1.9188248940 Fecto Cenent 50160000 6.3169949318 Dandot Cement 94840000 2.52128000000 Zeal Pak 427838500 0.44

98236600 1.512Safe Mix 20000000 6.15

Mustehkam (D)

Dadabhoy Cement (D)

Nov-10MKT Value Company No. of Shares2.3629E+10 Lucky Cement 3233750009978161136 D.G.Cement 3650992007615481700 Bestway Cement Ltd 3275476005048511820 Attock Cem.Pak. 865954003819795495 Lafarge Pakistan 13126445003478972770 Javedan Cement 581282003341655390 Fauji Cement 6932895001779813249 Thatta Cement 797745001555602750 Gharibwal 2318764001499412075 Pioneer Cement 2227551001140270593 Cherat Cement 955801001060950690 Maple Leaf 372263400

791856780 Kohat Cement 128757200702585492 Dewan Cement 357375000557677250 Al-Abbas Cement 182845000553931250 41697100479516650 Fecto Cenent 50160000438461385 Maple Leaf (Pref) 54147400427222986 Flying Cement Ltd 176000000334400000 Dandot Cement 94840000316008000 Zeal Pak 427838500238996800 98236600188248940 Safe Mix 20000000148533739123000000

Mustehkam (D)

Dadabhoy Cement (D)

Nov-10 Dec-10Close Mkt Value Company

75.08 24278995000 Lucky Cement 28.25 10314052400 D.G.Cement

22.8 7468085280 Bestway Cement Ltd 62.37 5400955098 Attock Cem.Pak.

3 3937933500 Lafarge Pakistan 59.99 3487110718 Javedan Cement

5 3466447500 Fauji Cement19.7 1571557650 Gharibwal

6.7 1553571880 Pioneer Cement6.86 1528099986 Thatta Cement

12.06 1152696006 Maple Leaf2.99 1113067566 Cherat Cement7.15 920613980 Kohat Cement 1.88 671865000 Dewan Cement

3.2 585104000 Al-Abbas Cement 13.45 560825995

7.2 361152000 Fecto Cenent5.89 318928186 Flying Cement Ltd1.76 309760000 Dandot Cement

2.9 275036000 Maple Leaf (Pref)0.44 188248940 Zeal Pak1.69 1660198545.89 117800000 Safe Mix

Mustehkam (D)

Dadabhoy Cement (D)

Dec-10Close Mkt Value

323375000 75.79 24508591250365099200 60.17 21968018864327547600 21.1 691125436086595400 63.11 5465035694

1312644500 3.21 421358884558128200 59.97 3485948154

693289500 5.02 3480313290231876400 8.33 1931530412222755100 6.77 150805202779774500 18.88 1506142560

372263400 2.87 106839595895580100 10.75 1027486075

128757200 6.46 831771512357375000 2.24 800520000182845000 3.47 63447215041697100 14.4 60043824050160000 7.25 363660000

176000000 1.8 31680000094840000 2.45 23235800054147400 4.22 228502028

427838500 0.44 18824894098236600 1.71 16798458620000000 7.3 146000000

Jan-11Company No. of Shares Close Mkt ValueLucky Cement 323375000 72.34 23392947500D.G.Cement 365099200 29.55 10788681360Attock Cem.Pak. 86595400 53.96 4672687784Bestway Cement Ltd 327547600 13.1 4290873560Lafarge Pakistan 1312644500 3.23 4239841735Javedan Cement 58128200 58.99 3428982518Fauji Cement 693289500 4.86 3369386970Gharibwal 231876400 6.98 1618497272Pioneer Cement 222755100 6.72 1496914272Thatta Cement 79774500 17.75 1415997375Cherat Cement 95580100 10.28 982563428Maple Leaf 372263400 2.63 979052742Kohat Cement 128757200 6.31 812457932Dewan Cement 389113300 2.05 797682265Dewan Cement 357375000 2.05 732618750

41697100 14.5 604607950Al-Abbas Cement 182845000 3 548535000Fecto Cenent 50160000 7.27 364663200Flying Cement Ltd 176000000 1.75 308000000Maple Leaf (Pref) 54147400 4.4 238248560Dandot Cement 94840000 1.91 181144400

98236600 1.64 161108024Safe Mix 20000000 7.45 149000000Zeal Pak 427838500 0.04 17113540

Mustehkam (D)

Dadabhoy Cement (D)

Feb-11Company No. of Shares Close MKT ValueLucky Cement 323375000 61.47 19877861250D.G.Cement 365099200 22.55 8232986960Attock Cem.Pak. 86595400 50.62 4383459148Bestway Cement Ltd 327547600 12.67 4150028092Lafarge Pakistan 1312644500 2.78 3649151710Javedan Cement 58128200 59.7 3470253540Gharibwal 400274000 7.26 2905989240Fauji Cement 693289500 4.14 2870218530Gharibwal 231876400 7.26 1683422664Thatta Cement 79774500 16.27 1297931115Pioneer Cement 222755100 5.45 1214015295Cherat Cement 95580100 8.75 836325875Maple Leaf 372263400 2.11 785475774Kohat Cement 128757200 5.53 712027316Dewan Cement 389113300 1.6 622581280

41697100 12.59 524966489Al-Abbas Cement 182845000 2.44 446141800Fecto Cenent 50160000 6.71 336573600Flying Cement Ltd 176000000 1.4 246400000Maple Leaf (Pref) 54147400 4.26 230667924Zeal Pak 427838500 0.44 188248940Dandot Cement 94840000 1.75 165970000

98236600 1.57 154231462Safe Mix 20000000 6.5 130000000

Mustehkam (D)

Dadabhoy Cement (D)

Mar-11Company No. of Shares Close Mkt ValueLucky Cement 323375000 67.48 21821345000D.G.Cement 365099200 25.73 9394002416Attock Cem.Pak. 86595400 52.44 4541062776Bestway Cement Ltd 327547600 12.66 4146752616Lafarge Pakistan 1312644500 3.11 4082324395Javedan Cement 58128200 60.5 3516756100Fauji Cement 693289500 4.24 2939547480Gharibwal 400274000 5.9 2361616600Thatta Cement 79774500 18.37 1465457565Pioneer Cement 227148800 6.08 1381064704Pioneer Cement 222755100 6.08 1354351008Cherat Cement 95580100 9.86 942419786Kohat Cement 128757200 7.1 914176120Maple Leaf 372263400 2.42 900877428Dewan Cement 389113300 1.69 657601477Al-Abbas Cement 182845000 2.54 464426300

41697100 10.48 436985608Fecto Cenent 50160000 7.84 393254400Flying Cement Ltd 176000000 1.5 264000000Maple Leaf (Pref) 54147400 3.55 192223270Zeal Pak 427838500 0.44 188248940

98236600 1.65 162090390Dandot Cement 94840000 1.66 157434400Safe Mix 20000000 5.4 108000000

Mustehkam (D)

Dadabhoy Cement (D)

Apr-11Company No. of Shares Close Mkt ValueLucky Cement 323375000 73.4 23735725000D.G.Cement 365099200 24.02 8769682784Attock Cem.Pak. 86595400 53.27 4612936958Bestway Cement Ltd 327547600 13.99 4582390924Gharibwal 400274000 10.48 4194871520Lafarge Pakistan 1312644500 3.05 4003565725Javedan Cement 58128200 61.8 3592322760Fauji Cement 693289500 4.09 2835554055Thatta Cement 79774500 19.17 1529277165Pioneer Cement 227148800 5.5 1249318400Cherat Cement 95580100 9.97 952933597Kohat Cement 128757200 6.71 863960812Maple Leaf 372263400 2.22 826424748Dewan Cement 389113300 1.7 661492610Al-Abbas Cement 182845000 2.99 546706550

41697100 9 375273900Fecto Cenent 50160000 6.94 348110400D.G.Cement 73019800 3.91 285507418Flying Cement Ltd 176000000 1.48 260480000Dandot Cement 94840000 2.49 236151600Maple Leaf (Pref) 54147400 3.7 200345380

98236600 1.95 191561370Zeal Pak 427838500 0.44 188248940Safe Mix 20000000 5.5 110000000

Mustehkam (D)

Dadabhoy Cement (D)

May-11Company No. of Shares Close Mkt ValueLucky Cement 323375000 71.08 2.2985E+10D.G.Cement 365099200 23.1 8433791520Attock Cem.Pak. 86595400 54.89 4753221506Bestway Cement Ltd 327547600 13.12 4297424512Lafarge Pakistan 1312644500 3 3937933500Javedan Cement 58128200 61.37 3567327634Fauji Cement 693289500 4.77 3306990915Gharibwal 400274000 6.15 2461685100Thatta Cement 79774500 18.95 1511726775Pioneer Cement 227148800 5.41 1228875008Cherat Cement 95580100 10.05 960580005Maple Leaf 372263400 2.3 856205820Kohat Cement 128757200 6.62 852372664Dewan Cement 389113300 2.05 797682265Al-Abbas Cement 182845000 2.9 530250500

41697100 9.75 406546725Fecto Cenent 50160000 6.33 317512800Flying Cement Ltd 176000000 1.52 267520000Maple Leaf (Pref) 54147400 3.7 200345380

98236600 2 196473200Zeal Pak 427838500 0.44 188248940Dandot Cement 94840000 1.75 165970000Safe Mix 20000000 5.63 112600000Fauji Cement ® 637824300 0.14 89295402D.G.Cement ® 73019800 0.7 51113860Bestway Cement Ltd ® 252454400 0.06 15147264

87563800 0.09 7880742Al-Abbas Cement ® 182845000 0.02 3656900

Mustehkam (D)

Dadabhoy Cement (D)

Mustehkam ® (D)

Jun-11Company No. of Shares Close MKT ValueLucky Cement 323375000 70.84 22907885000D.G.Cement 438119100 22.99 10072358109D.G.Cement 365099200 22.99 8393630608Attock Cem.Pak. 86595400 48.53 4202474762Bestway Cement Ltd 327547600 12.12 3969876912Javedan Cement 58128200 61.37 3567327634Lafarge Pakistan 1312644500 2.7 3544140150Gharibwal 400274000 7.86 3146153640Fauji Cement 693289500 4.12 2856352740Thatta Cement 79774500 19.98 1593894510Pioneer Cement 227148800 5.51 1251589888Maple Leaf 526712900 2.06 1085028574Maple Leaf 526109500 2.06 1083785570Cherat Cement 95580100 9 860220900Kohat Cement 128757200 6.11 786706492Dewan Cement 389113300 1.69 657601477Al-Abbas Cement 182845000 2.64 482710800

41697100 10.39 433232869Fecto Cenent 50160000 5.45 273372000Maple Leaf (Pref) 54147400 4.91 265863734Maple Leaf (Pref) 53632800 4.91 263337048Flying Cement Ltd 176000000 1.29 227040000

98236600 2.1 206296860Dandot Cement 94840000 1.32 125188800Safe Mix 20000000 5.5 110000000Zeal Pak 427838500 0.04 17113540Bestway Cement Ltd ® 252454400 0.06 15147264Fauji Cement ® 637824300 0.01 6378243

87563800 0.05 437819087563800 0.05 4378190

Thatta Cement ® 19943600 0.04 797744Al-Abbas Cement ® 182845000 0 0D.G.Cement ® 73019800 0 0

Mustehkam (D)

Dadabhoy Cement (D)

Mustehkam ® (D)Mustehkam ®

Jul-11Company No. of Shares Close Mkt ValueLucky Cement 323375000 73.12 23645180000D.G.Cement 438119100 22.58 9892729278Bestway Cement Ltd 578202000 11.28 6522118560Fauji Cement 1331115800 3.93 5231285094Atock Cem.Pak. 86595400 46.88 4059592352Bestway Cement Ltd 327547600 11.28 3694736928Javedan Cement 58128200 61.37 3567327634Javedan Crop. 58128200 61.37 3567327634Lafarge Pakistan 1312644500 2.4 3150346800Fauji Cement 693289500 3.93 2724627735Gharibwal 400274000 4.91 1965345340Thatta Cement 99718100 15 1495771500Mustehkam 129260900 10.26 1326216834Thatta Cement 79774500 15 1196617500Pioneer Cement 227148800 4.68 1063056384Maple Leaf 526712900 2 1053425800Al-Abbas Cement 365690000 2.56 936166400Kohat Cement 128757200 5.82 749366904Dewan Cement 389113300 1.45 564214285Al-Abbas Cement 182845000 2.56 468083200

41697100 10.26 427812246Maple Leaf (Pref) 53632800 4.91 263337048Fecto Cenent 50160000 4.95 248292000Flying Cement Ltd 176000000 1.27 223520000

98236600 2.25 221032350Zeal Pak 427838500 0.44 188248940Dandot Cement 94840000 1.4 132776000Safe Mix 20000000 4.84 96800000Cherat Cement 95580100 0.8 76464080Bestway Cement Ltd ® 252454400 0.06 15147264Thatta Cement ® 19943600 0.44 8775184Fauji Cement ® 637824300 0.01 6378243

87563800 0.05 4378190Al-Abbas Cement ® 182845000 0 0

Mustehkam (D)

Dadabhoy Cement (D)

Mustehkam ®

Aug-11Company No. of Shares Close Mkt ValueLucky Cement 323375000 73.32 23709855000D.G.Cement 438119100 19.59 8582753169Bestway Cement Ltd 578202000 11.28 6522118560Fauji Cement 1331115800 3.12 4153081296Atock Cem.Pak. 86595400 44.01 3811063554Javedan Crop. 58128200 61.37 3567327634Lafarge Pakistan 1312644500 2.1 2756553450Gharibwal 400274000 5.81 2325591940Thatta Cement 99718100 17.32 1727117492Mustehkam 129260900 10.21 1319753789Maple Leaf 526712900 2 1053425800Pioneer Cement 227148800 3.78 858622464Cherat Cement 95580100 8.2 783756820Al-Abbas Cement 365690000 1.91 698467900Kohat Cement 128757200 5.29 681125588Dewan Cement 389113300 1.2 466935960Maple Leaf (Pref) 53632800 4.91 263337048Fecto Cenent 50160000 4.5 225720000Zeal Pak 427838500 0.44 188248940Flying Cement Ltd 176000000 1.06 186560000


Dadabhoy Cement (D)

Sep-11Company No. of Shares Close Mkt ValueLucky Cement 323375000 75.52 24421280000D.G.Cement 438119100 20.57 9012109887Bestway Cement Ltd 578202000 9.31 5383060620Fauji Cement 1331115800 4 5324463200Atock Cem.Pak. 86595400 54.02 4677883508Javedan Crop. 58128200 64.05 3723111210Lafarge Pakistan 1312644500 2.37 3110967465Gharibwal 400274000 5.33 2133460420Thatta Cement 99718100 17.4 1735094940Mustehkam 129260900 10.21 1319753789Pioneer Cement 227148800 4.87 1106214656Maple Leaf 526712900 1.8 948083220Cherat Cement 95580100 8.25 788535825Al-Abbas Cement 365690000 2.06 753321400Kohat Cement 128757200 5.71 735203612Dewan Cement 389113300 1.5 583669950Fecto Cenent 50160000 5.52 276883200Maple Leaf (Pref) 53632800 4.91 263337048Zeal Pak 427838500 0.44 188248940

98236600 1.85 181737710Flying Cement Ltd 176000000 0.98 172480000Dandot Cement 94840000 1.03 97685200Safe Mix 20000000 4.5 90000000

Dadabhoy Cement (D)

Oct-11Company No. of Shares Close MKT ValueLucky Cement 323375000 82.91 26811021250D.G.Cement 438119100 21.06 9226788246Fauji Cement 1331115800 3.89 5178040462Bestway Cement Ltd 578202000 8.11 4689218220Atock Cem.Pak. 86595400 52 4502960800Javedan Crop. 58128200 63.5 3691140700Lafarge Pakistan 1312644500 2.07 2717174115Gharibwal 400274000 4.8 1921315200Thatta Cement 99718100 15.5 1545630550Mustehkam 129260900 10.21 1319753789Kohat Cement 128757200 8.43 1085423196Pioneer Cement 227148800 3.75 851808000Maple Leaf 526712900 1.6 842740640Cherat Cement 95580100 7.79 744568979Al-Abbas Cement 365690000 2 731380000Dewan Cement 389113300 1.5 583669950Maple Leaf (Pref) 53632800 4.91 263337048Fecto Cenent 50160000 5 250800000Zeal Pak 427838500 0.44 188248940Flying Cement Ltd 176000000 0.87 153120000

98236600 1.51 148337266Dandot Cement 94840000 0.85 80614000Safe Mix 20000000 4 80000000

Dadabhoy Cement (D)

Nov-11Company No. of Shares Close Mkt ValueLucky Cement 323375000 81.6 26387400000D.G.Cement 438119100 20.75 9090971325Fauji Cement 1331115800 3.73 4965061934Bestway Cement Ltd 578202000 8.11 4689218220Atock Cem.Pak. 86595400 52.79 4571371166Javedan Crop. 58128200 63.62 3698116084Lafarge Pakistan 1312644500 2.06 2704047670Gharibwal 400274000 4.31 1725180940Thatta Cement 99718100 16 1595489600Mustehkam 129260900 11.1 1434795990Kohat Cement 128757200 8.17 1051946324Maple Leaf 526712900 1.96 1032357284Pioneer Cement 227148800 3.65 829093120Cherat Cement 95580100 7.7 735966770Al-Abbas Cement 365690000 1.83 669212700Dewan Cement 389113300 1.39 540867487Maple Leaf (Pref) 53632800 4.9 262800720Fecto Cenent 50160000 5.1 255816000Zeal Pak 427838500 0.44 188248940Flying Cement Ltd 176000000 0.9 158400000


Dadabhoy Cement (D)

Dec-11Company No. of Shares Close Mkt ValueLucky Cement 323375000 75.04 24266060000D.G.Cement 438119100 19.03 8337406473Bestway Cement Ltd 578202000 8.4 4856896800Atock Cem.Pak. 86595400 51 4416365400Fauji Cement 1331115800 3.3 4392682140Javedan Crop. 58128200 63.5 3691140700Lafarge Pakistan 1312644500 1.88 2467771660Thatta Cement 99718100 23.75 2368304875Gharibwal 400274000 5.58 2233528920Mustehkam 129260900 11 1421869900Kohat Cement 128757200 8.31 1069972332Maple Leaf 526800500 1.85 974580925Maple Leaf 526712900 1.85 974418865Al-Abbas Cement 365690000 2.5 914225000Pioneer Cement 227148800 3.3 749591040Cherat Cement 95580100 7.21 689132521Dewan Cement 389113300 1.25 486391625Maple Leaf (Pref) 53632800 4.8 257437440Maple Leaf (Pref) 53561000 4.8 257092800Fecto Cenent 50160000 3.9 195624000Zeal Pak 427838500 0.44 188248940Flying Cement Ltd 176000000 0.88 154880000

98236600 1.41 138513606Safe Mix 20000000 5.86 117200000Dandot Cement 94840000 1.16 110014400

Dadabhoy Cement (D)

Jan-12Company No. of Shares Close Mkt ValueLucky Cement 323375000 84.8 27422200000D.G.Cement 438119100 23.19 10159981929Fauji Cement 1331115800 3.78 5031617724Atock Cem.Pak. 86595400 57.5 4979235500Bestway Cement Ltd 578202000 8.4 4856896800Javedan Crop. 58128200 62.2 3615574040Lafarge Pakistan 1312644500 2.09 2743427005Gharibwal 400274000 5.25 2101438500Thatta Cement 99718100 18.1 1804897610Kohat Cement 128757200 13 1673843600Mustehkam 129260900 10 1292609000Cherat Cement 95580100 12.42 1187104842Maple Leaf 526800500 2.05 1079941025Pioneer Cement 227148800 4.5 1022169600Al-Abbas Cement 365690000 2.31 844743900Dewan Cement 389113300 1.49 579778817Fecto Cenent 50160000 6.29 315506400Maple Leaf (Pref) 53561000 4.5 241024500Zeal Pak 427838500 0.44 188248940Flying Cement Ltd 176000000 1.05 184800000


Dadabhoy Cement (D)

Feb-12Company No. of Shares Close MKT ValueLucky Cement 323375000 99.01 32017358750D.G.Cement 438119100 28.03 12280478373Bestway Cement Ltd 578202000 15.93 9210757860Fauji Cement 1331115800 4.45 5923465310Atock Cem.Pak. 86595400 59.4 5143766760Javedan Crop. 58128200 61.99 3603367118Lafarge Pakistan 1312644500 2.52 3307864140Kohat Cement 128757200 22.14 2850684408Gharibwal 400274000 5.32 2129457680Thatta Cement 99718100 18.13 1807889153Pioneer Cement 227148800 7.82 1776303616Maple Leaf 526800500 2.85 1501381425Cherat Cement 95580100 14.4 1376353440Mustehkam 129260900 10.5 1357239450Al-Abbas Cement 365690000 3.2 1170208000Dewan Cement 389113300 2.12 824920196Fecto Cenent 50160000 8.99 450938400Flying Cement Ltd 176000000 1.52 267520000Maple Leaf (Pref) 53561000 4.5 241024500Zeal Pak 427838500 0.44 188248940

98236600 1.46 143425436Safe Mix 20000000 6.5 130000000Dandot Cement 94840000 1.26 119498400

Dadabhoy Cement (D)

Mar-12Company No. of Shares Close Mkt ValueLucky Cement 323375000 113.45 36686893750D.G.Cement 438119100 36.37 15934391667Bestway Cement Ltd 578202000 20.01 11569822020Fauji Cement 1331115800 5.62 7480870796Atock Cem.Pak. 86595400 76.73 6644465042Lafarge Pakistan 1312644500 4.82 6326946490Javedan Crop. 58128200 83.5 4853704700Kohat Cement 128757200 27.44 3533097568Maple Leaf 526800500 5.04 2655074520Pioneer Cement 227148800 10.6 2407777280Gharibwal 400274000 5.52 2209512480Thatta Cement 99718100 21.64 2157899684Cherat Cement 95580100 19.71 1883883771Mustehkam 129260900 13.1 1693317790Dewan Cement 389113300 4.17 1622602461Al-Abbas Cement 365690000 3.92 1433504800Fecto Cenent 50160000 10.7 536712000Flying Cement Ltd 176000000 2.91 512160000Dandot Cement 94840000 3.1 294004000Maple Leaf (Pref) 53561000 4.12 220671320Zeal Pak 427838500 0.44 188248940

98236600 1.82 178790612Safe Mix 20000000 6.33 126600000Dadabhoy Cement (D)

Apr-12Company No. of Shares Close Mkt ValueLucky Cement 323375000 130.23 42113126250D.G.Cement 438119100 39.93 17494095663Bestway Cement Ltd 578202000 25 14455050000Fauji Cement 1331115800 6.52 8678875016Atock Cem.Pak. 86595400 81.77 7080905858Lafarge Pakistan 1312644500 4.83 6340072935Javedan Crop. 58128200 87.55 5089123910Kohat Cement 128757200 38.61 4971315492Pioneer Cement 227148800 12.44 2825731072Maple Leaf 526800500 5.17 2723558585Cherat Cement 95580100 24.67 2357961067Gharibwal 400274000 5.72 2289567280Dewan Cement 389113300 5.07 1972804431Mustehkam 129260900 14.49 1872990441Al-Abbas Cement 365690000 4.82 1762625800Thatta Cement 99718100 17.25 1720137225Fecto Cenent 50160000 16.3 817608000Flying Cement Ltd 176000000 3.16 556160000Dandot Cement 94840000 3.9 369876000Maple Leaf (Pref) 53561000 5.52 295656720

98236600 2.54 249520964Zeal Pak 427838500 0.44 188248940Safe Mix 20000000 6.5 130000000

Dadabhoy Cement (D)

May-12Company No. of Shares Close Mkt ValueLucky Cement 323375000 126.29 40839028750D.G.Cement 438119100 41.14 18024219774Bestway Cement Ltd 578202000 27.7 16016195400Fauji Cement 1331115800 6.15 8186362170Atock Cem.Pak. 86595400 79.24 6861819496Lafarge Pakistan 1312644500 4.54 5959406030Kohat Cement 128757200 39.42 5075608824Javedan Crop. 58128200 84.3 4900207260Cherat Cement 95580100 29.96 2863579796Maple Leaf 526800500 4.88 2570786440Pioneer Cement 227148800 10.67 2423677696Thatta Cement 99718100 23 2293516300Gharibwal 400274000 4.9 1961342600Dewan Cement 389113300 4.29 1669296057Mustehkam 129260900 12.7 1641613430Al-Abbas Cement 365690000 3.85 1407906500Fecto Cenent 50160000 14.48 726316800Flying Cement Ltd 176000000 3.04 535040000Maple Leaf (Pref) 53561000 6 321366000Dandot Cement 94840000 3.02 286416800

98236600 2.5 245591500Zeal Pak 427838500 0.44 188248940Safe Mix 20000000 6 120000000

Dadabhoy Cement (D)

Jun-12Company No. of Shares Close MKT ValueAl-Abbas Cement 365690000 4.8 1755312000Zeal Pak 427838500 0.44 188248940Thatta Cement 99718100 21.03 2097071643Safe Mix 20000000 6.01 120200000Pioneer Cement 227148800 9.2 2089768960Mustehkam 129260900 15.05 1945376545Maple Leaf (Pref) 53561000 6 321366000Maple Leaf (Pref) 52826300 6 316957800Maple Leaf 526800500 4.63 2439086315Maple Leaf 527733900 4.63 2443407957Lucky Cement 323375000 115.39 37314241250Lafarge Pakistan 1312644500 4.32 5670624240Kohat Cement 128757200 40.26 5183764872Javedan Crop. 58128200 85.1 4946709820Gharibwal 400274000 5 2001370000Flying Cement Ltd 176000000 2.7 475200000Fecto Cenent 50160000 13.75 689700000Fauji Cement 1331115800 5.63 7494181954Dewan Cement 389113300 3.43 1334658619Dandot Cement 94840000 2.45 232358000

98236600 2.2 216120520D.G.Cement 438119100 39.38 17253130158Cherat Cement 95580100 29.62 2831082562Bestway Cement Ltd 578202000 24.54 14189077080Atock Cem.Pak. 86595400 81.44 7052329376

Dadabhoy Cement (D)

Capital Asset Pricing model xls

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