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Saif Powertec Charts Expansion with Key Acquisition in Shipping Sector

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Saif Powertec

In a strategic move, Saif Powertec has successfully acquired a commanding 51% majority stake in Innovative Logistics & Shipping Limited (ILSL), solidifying its position as the largest shareholder and gaining control of the company. The transaction, valued at Tk2.55 crore, was publicly disclosed through stock exchange channels on Sunday, marking a significant development in the business landscape.

With this acquisition, Saif Powertec ascends to the role of the parent company, while ILSL transitions into its subsidiary, a shift catalyzed by Saif Powertec’s majority stake in the subsidiary. The move aligns with Saif Powertec’s strategic vision for expansion and diversification within the industry.

ILSL is poised to engage in a spectrum of operations under its new majority shareholder. This includes an array of services such as logistics, shipping, inland transportation, cargo transport, port operations, inland logistics, and storage for various food items and commodities. Additionally, the company will function as an agent for export, import, manufacturing, distribution, and marketing, serving both Bangladeshi and international companies.

Furthermore, the diversified portfolio of ILSL encompasses various trading activities, spanning commodities like sugar, oils (soybean, mustard, coconut, tishi, sunflower, etc.), oil cakes, dairy products, baby foods, fruits, vegetables, grains, spices, nuts, tea, coal, and more. The company also extends its reach into farming, including cattle, pigeons, buffaloes, mushroom cultivation, container and cargo handling, and shipping agency services.

This strategic acquisition positions Saif Powertec to leverage the synergies between the two entities, fostering a robust and diversified business model. The move not only consolidates Saif Powertec’s market presence but also signals a strategic alignment with the dynamic landscape of logistics and shipping in Bangladesh.

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Dhaka Bourse Performed Mixed

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dse bourse indices turnover dhak stock exchange stock market

Dhaka Stock Market DSE, Bourse on the third working day of the week, 16th July, ended with a mixedperformance in Indices and drop in Turnover from the previous working session. This information is known from DSE sources.

662 crore 24 lakh taka shares were traded on this day. 39 crore 98 lakh more tradings were done in DSE today compared to the previous workday, July 15th, Shares worth Tk 662 crores 24 lakh shares were traded last time, Monday.

The benchmark DSEX decreased 1.82 points or 5,484 The Shariah-based index DSES dropped 1.56 points or 1,201 and the blue-chip index DS30 gained by 17.08 points or 1,961.

Of the issues traded, 121 advanced, 221 declined and 55 remained unchanged.

NRB Bank Limited ranked top gainer on DSE, the share price increased by Tk 1.10 paisa or 10.00 percent. On this day, the share was last traded at Tk 12.10 paisa.

Prime Textiles Mills Limited ranked top loser on the DSE, the share price dropped by Tk 0.50 paisa or 3.00 percent. On this day, the share was last traded at Tk 16.20 paisa.

DSE topped on trade is Reckitt Benckiser Limited 23 crore 33 lakh takas of company shares have been traded.

A total of 42 companies’ shares were traded in the Block on Dhaka Stock Exchange. A total of 1 crore 89 lakh 50 thousand 218 shares of the companies were traded. The financial value of which is 50 crore 62 lakh taka

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Sena Kalyan Insurance releases Q2 FInancials

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Sena Kalyan Insurance

One of the listed companies, Sena Kalyan Insurance Company Limited discloses its financial reports for the second quarter, (April – June 24).

The company’s earnings per share (EPS) Tk 1.14 paisa in Q2 of the current financial year (April – June 24). EPS was Tk. 2.06 for January-June 2024 as against Tk. 1.32 for January-June 2023. EPS  was Tk 0.80 paisa during the same period last year. NAV per share was Tk. 22.83 as of June 30, 2024.

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Dhaka Bourse on Green Despite Sluggish Indices

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dse dhaka bourse index turnover

Dhaka Stock Market DSE, Bourse on the second working day of the week, 15th July, ended with a gaining performance in Indices and Turnover from the previous working session. This information is known from DSE sources.

662 crore 24 lakh taka shares were traded on this day. 39 crore 98 lakh more tradings were done in DSE today compared to the previous workday, July 12th, Shares worth Tk 622 crores 25 lakh shares were traded last time, Sunday.

The benchmark DSEX increased 2.17 points or 5,484 The Shariah-based index DSES added 0.72 points or 1,203 and the blue-chip index DS30 gained by 7.17 points or 1,937.

Of the issues traded, 140 advanced, 191 declined and 66 remained unchanged.

Information Services Netowrk Limited ranked top gainer on DSE, the share price increased by Tk 4.50 paisa or 9.93 percent. On this day, the share was last traded at Tk 49.80 paisa.

Linde Bangladsh Limited ranked top loser on the DSE, the share price dropped by Tk 33.40 paisa or 3.00 percent. On this day, the share was last traded at Tk 1,080.10 paisa.

DSE topped on trade is Orion Infusion Limited 57 crore 23 lakh takas of company shares have been traded.

A total of 40 companies’ shares were traded in the Block on Dhaka Stock Exchange. A total of 1 crore 53 lakh 88 thousand 588 shares of the companies were traded. The financial value of which is 51 crore 12 lakh taka

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