Stocks
BSEC Approves 250% Stock Dividend for Himadri’s instead of 700%
![Himadri](https://en.orthosongbad.com/wp-content/uploads/2022/11/New-Project-14-2.jpg)
The Bangladesh Securities and Exchange Commission (BSEC) has granted approval for a 250% stock dividend, a reduction from the initially declared 700%, for Himadri Limited, an SME platform company under the Ejab Group. The company had earlier announced a record dividend of 700% stock and 10% cash for the fiscal year 2022-23. An anonymous official from the company revealed that the BSEC approval was obtained after applying for consent, and the company has now sought a review of the decision by submitting the required documents.
The company’s objective was to increase its paid-up capital, aligning with BSEC requirements for transitioning to the main market. Failure to consider this adjustment might result in a delay in the process of entering the main market, the official expressed. The company is set to hold its annual general meeting on December 27, with a record date of December 21.
The stock dividend, sourced from retained earnings rather than capital or revaluation reserves, proposes to provide shareholders with seven new Himadri shares for each existing share, effectively increasing the paid-up capital sevenfold from its current Tk75 lakh. The last closing share price of the company was Tk6,999 on the Dhaka Stock Exchange.
Established in 1974, Himadri Limited specializes in offering cold storage facilities for agro-based products, primarily potatoes, with six potato cold storage located in various regions. The company transitioned to the SME platform in September 2021 from the over-the-counter market, where its shares were last traded on March 8, 2014.
According to price-sensitive information, the company’s earnings per share witnessed a 43% year-on-year increase, reaching Tk7.62 by the end of FY23.
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Stocks
Weekly U.S. Stock Market Reports Diverse Performance
![U.S. Stock](https://en.orthosongbad.com/wp-content/uploads/2024/03/7xm.xyz120015.jpg)
Reviewing the U.S. Stock Markets, the Nasdaq Composite, recorded a decent loss of 1,023 points, reaching a closing value of 16,690 points by the end of the week. Similarly, the S&P 500 index showed a positive trend, losing 240 points to settle at 5,408 points. Meanwhile, DJIA Index experienced a notable hike, adding 1,218 points during the week and concluding at 40,345 points after a week of gaining.
In contrast, Russell 3000 Index saw a loss in week performance, with a slight drop of 141 point to reach 3,077 points by the end of the week.
Moving to Russell 2000 Index, demonstrated a notable lost of 126 points, ending the week at 2,091 points.
Stocks
European Stock Weekly Review Highlights Mixed Trend
![stock European](https://en.orthosongbad.com/wp-content/uploads/2023/04/fsdfsdf.webp)
In the Outgoing week, the European stock market displayed a mixed performance.
Here is the data on the weekly performance of the European Stock Market, The STOXX Europe 600 index, which is considered a leading benchmark for the European market and covers approximately 90 percent of the market capitalization across 17 countries, reported a loss of 18.49 points to close at 506.56.
The United Kingdom’s FTSE 100, one of the most widely followed indices in Europe, also showed a significant drop, losing 195 points or finishing the session at 8,181.
In Germany, the DAX 30 index, added by 605 points to reach 18,301, while France’s CAC 40 decreased by 278 points to stop at 7,352 at the end of the trading day.
Italy’s FTSE MIB, which covers the top 40 stocks traded on the Milan Stock Exchange, decreased by 1,081 points to 33,291. However, Spain’s IBEX 35, lost by 228 points, to close at 11,173.
Stocks
Weekly South Asian Stock reports Varied Performance
![south asian stock](https://en.orthosongbad.com/wp-content/uploads/2023/06/New-Project-4.jpg)
A review of South Asian stock markets shows that India’s Bombay Stock Exchange (BSE) index BSE Sensex has lost 1,182 points during the week. At the end of the week, the index stood at 82,365 points. On the other hand, the Nifty-50 index of the country’s National Stock Exchange dropped by 383 points last week. At the end of the week, the index stood at 24,852 points.
Pakistan Stock Exchange Index ‘KSE 100’, added 459 points last week. After a week of losing, the index settled at 79,002 points.
On the other hand, The Sri Lankan stock market index loss, and the Colombo Stock Exchange index ‘ASPI’ decreased by 94 points in a week. After a week the index settled at 10,775 points.
Bhutan’s stock market index ‘BSI’ dropped by 9 points hence the index stood at 1,500 points throughout the whole week. Nepal’s ‘NEPSE’ lost 22 points, therefore the index stands at 2,727 points.
Hence Dhaka Stock Exchange: The benchmark index ‘DSEX’ lost by 75.77 points or 1.31 percent, in the outgoing week. At the end of the week, the index stands at 5,728 points.