Stocks
BSRM Group Honored as Leading Taxpayers in Chattogram
Three members of a family associated with the renowned BSRM Group were honored with the Best Taxpayers Award in Chattogram. The accolades included Alihussain Akberali, Chairman of BSRM Group, who was recognized as the leading taxpayer in the port city. Aameir Alihussain, the Managing Director of BSRM and son of Alihussain Akberali, secured the second-highest taxpayer position, while Bilkis Alihussain, the wife of Alihussain Akberali and a shareholder in the group, earned the distinction of the highest female taxpayer.
The awards ceremony, held on December 12, celebrated 42 individuals as the top taxpayers of FY23 in Chattogram. Aameir Alihussain accepted the awards on behalf of his family, emphasizing their longstanding commitment to regular tax payments. During the event, he highlighted the cultural significance of tax payment within their family, spanning generations. “My grandfather initiated this practice, my father continued it, and I am following the same path,” he stated, underscoring the importance of tax contributions for national prosperity and urging everyone to fulfill their tax obligations.
The BSRM Group, a key player in Bangladesh’s steel sector, had previously received the Highest Taxpayers Award under the “Engineering” category for FY22. The conglomerate, encompassing various sister concerns, including Meghna Engineering Works, Karnafuli Engineering Works, BSRM Recycling Industries, BSRM Wires, BSRM Iron and Steel Company, and BSRM Steel, holds a prominent position in the industry. The group, listed on both the Dhaka Stock Exchange (DSE) and Chittagong Stock Exchange (CSE), boasts a capacity to melt 1.9 million tonnes of steel and produce 1.6 million tonnes of rods annually.
In addition to its tax-related achievements, BSRM Group received the National Export Trophy 2020-21 (Bronze) in the “Other Manufacturing Goods Producers” category and the Best Brand Awards 2021. The conglomerate was also honored with the Bangladesh Project Management Awards 2023 as the Champion in the “Large Business” category. Notably, BSRM’s commitment to environmental sustainability earned it the first-ever award for Best CSR in Environment.
For 70 years, BSRM has been a stalwart in providing Bangladesh with high-quality steel through research and innovation. The steel produced by BSRM has contributed to the construction of the country’s major infrastructure, including the Padma Bridge, various bridges and flyovers, Rooppur Nuclear Power Plant, Bangabandhu Tunnel, and more.
Dhaka Stock Market DSE, Bourse on the second working day of the week, 30th September, ended with a negative performance in Indices and a hike in Turnover from the previous working session. This information is known from DSE sources.
503 crore 90 lakh taka shares were traded on this day. 22 crore 58 lakh more tradings were done in DSE today compared to the previous workday, 29th September, Shares worth Tk 481 crores 31 lakh shares were traded last time, Sunday.
The benchmark DSEX lost 33.61 points or 5,624 The Shariah-based index DSES dropped 7.36 point or 1,263 and the blue-chip index DS30 decreased by 9.57 points or 2,053.
Of the issues traded, 72 advanced, 299 declined and 25 remained unchanged.
Shahjibazar Power Company Limited ranked top gainer on DSE, the share price increased by Tk 4.00 paisa or 9.76 percent. On this day, the share was last traded at Tk 45.00 paisa.
Dhaka Electric Supply Company Limited ranked top loser on the DSE, the share price dropped by Tk 1.80 paisa or 7.56 percent. On this day, the share was last traded at Tk 22.00 paisa.
DSE topped on trade is Pragati Life Insurance Limited 25 crore 35 lakh takas of company shares have been traded.
A total of 27 companies’ shares were traded in the Block on Dhaka Stock Exchange. A total of 1 crore 50 lakh 42 thousand 956 shares of the companies were traded. The financial value of which is 65 crore 60 lakh taka
One of the Listed companies, National Polymer Limited has recommended 10.50% Cash Dividend for the year ended June 30, 2024.
It has reported Consolidated EPS of Tk 2.27 paisa, and Consolidated NAV per share of Tk 30.63 for the year ended March 31, 2024.
The Annual General Meeting (AGM) of the company will be held on December 18, through the digital platform. The record date for this has been fixed at October 22.
The Company also discloses its financial reports for the second quarter, (April – June 24).
As per the company’s consolidated life revenue account for April to June 2024, the excess of total income over total expenses, including claims (surplus), stood at Tk 1,394.24 million. This marks a significant increase from the surplus of Tk 823.68 million during the same period in 2023.
For the first half of 2024, from January to June, the company reported a surplus of Tk 2,177.57 million, compared to Tk 1,290.39 million in the corresponding period of the previous year.
Additionally, the Life Insurance Fund balance as of June 30, 2024, reached Tk 55,188.62 million, showing a net increase of Tk 5,892.25 million from Tk 49,296.37 million on June 30, 2023.
One of the Listed companies, Beacon Pharmaceuticals PLC has recommended 20% Cash dividend and 10% Cash Dividend to Sponsor Shareholder and Directors for the year ended June 30, 2024.
It has reported EPS of Tk 2.26 paisa, and NAV per share of Tk. 26.37 for the year ended June 30, 2024.
The Annual General Meeting (AGM) of the company will be held on December 23, through the digital platform. The record date for this has been fixed at October 27.
