Stocks
Saif Powertec Charts Expansion with Key Acquisition in Shipping Sector
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.
Dhaka Stock Market DSE, Bourse on the last working day of the week, 25th July, ended with a hike in Indices and Turnover from the previous working session. This information is known from DSE sources.
497 crore 34 lakh taka shares were traded on this day. 337 crore 97 lakh more tradings were done in DSE today compared to the previous workday, July 24th, Shares worth Tk 159 crores 37 lakh shares were traded last time, Wednesday.
The benchmark DSEX increased 62.81 points or 5,413 The Shariah-based index DSES added 13.81 points or 1,183 and the blue-chip index DS30 gained by 24.25 points or 1,932.
Of the issues traded, 286 advanced, 66 declined and 40 remained unchanged.
Techno Drugs Limited ranked top gainer on DSE, the share price increased by Tk 3.80 paisa or 9.87 percent. On this day, the share was last traded at Tk 42.30 paisa.
Rangpur Foundry Limited ranked top loser on the DSE, the share price dropped by Tk 5.40 paisa or 2.98 percent. On this day, the share was last traded at Tk 175.70 paisa.
DSE topped on trade is Square Pharmaceuticals PLC 35 crore 9 lakh takas of company shares have been traded.
A total of 28 companies’ shares were traded in the Block on Dhaka Stock Exchange. A total of 82 lakh 94 thousand 29 shares of the companies were traded. The financial value of which is 21 crore 92 lakh taka
One of the listed companies, Eastland Insurance Company Limited discloses its financial reports for the second quarter, (April – June 24).
The company’s earnings per share (EPS) Tk 0.27 paisa in Q2 of the current financial year (April – June 24). EPS was Tk. 0.41 for January-June 2024 as against Tk. 1.47 for the same period last year. EPS was Tk 0.80 paisa during the same period last year. NAV per share was Tk. 20.85 as of June 30, 2024.
One of the listed companies, Shahjalal Islami Bank PLC discloses its financial reports for the second quarter, (April – June 24).
The company’s Consolidated earnings per share (EPS) Tk 1.50 paisa in Q2 of the current financial year (April – June 24). Consolidated EPS was Tk. 1.50 for January-June 2024 as against Tk. 1.47 for the same period last year. EPS was Tk 0.80 paisa during the same period last year. Consolidated NAV per share was Tk. 20.85 as of June 30, 2024.
