Mubasher: Pharos Research maintained the fair value of Qalaa Holdings at EGP 0.95 per share.
Taqa Arabia, affiliated to Qalaa Holding, will be a major beneficiary of the liberalisation of the Egyptian energy sector, as the hike in prices of petroleum substances will have an impact on the results of the fourth quarter.
Another major trigger for Qalaa’s energy segment is the Natural Gas Act; a law being discussed in parliament which allows the import, export, Pharos said in a research note.
The company's consolidated losses widened 186.7% to 1.29 billion in the first nine months of FY 2016, ended on September.
The stock ended Sunday down 1.11% to EGP 0.89.
