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Standard Ceramic Sees Share Surge Despite Fiscal Challenges

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Standard Ceramics

Despite facing a substantial working capital shortfall, the share price of Standard Ceramic Industries Limited experienced a significant uptick of 9.96% at the Dhaka Stock Exchange (DSE). The tableware producer’s shares closed at Tk151.2 apiece on Tuesday, compared to Tk137.5 in the previous trading session. During the day, a total of 1.86 lakh shares were traded at Tk2.77 crore.

Standard Ceramic’s share price had been stagnant at the floor price of Tk108.7 from August to November 2023. However, from 28 November to 12 December, the share price witnessed a remarkable 76% jump to Tk191.4. In response to a DSE query on 13 December, the company asserted no undisclosed price-sensitive information influencing the share price.

Despite the recent surge, the company reported a net loss of Tk12.29 crore in fiscal 2022-23, a significant increase from Tk1.93 crore in the previous fiscal year. Its revenue also declined by 27% year-on-year to Tk24.44 crore. The auditor, ARTISAN, highlighted a working capital shortfall, leading to reliance on bank borrowing for deficit financing.

With a cumulative loss of Tk20 crore, Standard Ceramic’s shareholders’ equity stands at negative Tk9.57 crore. The current liabilities of Tk40 crore against assets of Tk17.77 crore, which is 2.25 times higher than the assets, poses going concern threats to the company, as indicated by the auditor.

The company has not paid dividends to shareholders for the last two consecutive years due to losses. In the annual report for FY23, Standard Ceramic attributed the distortion in the ratio between current assets and liabilities to factors such as low demand, high inflation, fluctuating dollar rates, irregular supply, and high gas and electricity rates.

Market insiders raised concerns over the company’s limited shares, with only 64.60 lakh available, of which 45.22 lakh are tradable in the secondary market. This limited float may expose the company to manipulation risks.

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DSEX Fell 178 points in 4 Working Days amidst Shallow Turnover

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dse bearish market bourse turnover index

Dhaka Stock Exchange DSE, Bourse on the last working day of the week, April 18th, ended with a drop in Indices and hike in Turnover from the previous working session. This information is known from DSE sources.

522 crore 51 lakh taka shares were traded on this day. 39 crore 97 lakh more tradings were done in DSE today compared to the previous workday, 17th April , Shares worth Tk 482 crores 53 lakh shares were traded last time, Wednesday.

The benchmark DSEX lost 77.08 points or 5,686 The Shariah-based index DSES dropped 15.85 points or 1,246, and the blue-chip index DS30 decreased by 22.77 points or 1,984.

Of the issues traded, 29 advanced, 342 declined and 24 remained unchanged.

Asiatic laboratories Limited ranked top gainer on DSE, the share price increased by Tk 4.60 paisa or 9.96 percent. On this day, the share was last traded at Tk 50.80 paisa.

Far East Finance & Investment Limited ranked top loser on the DSE, the share price dropped by Tk 0.30 paisa or 6.97 percent. On this day, the share was last traded at Tk 4.00 paisa.

DSE topped on trade is Asiatic Laboratories Limited 39 crore 22 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 47 lakh 25 thousand 651 shares of the companies were traded. The financial value of which is 17 crore 46 lakh taka

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Agni Systems releases Q3 Financials

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agni systems

One of the listed companies, Agni Systems limited discloses its financial reports for the third quarter, (January – March 24).

The company’s earnings per share (EPS) was Tk 0.32 paisa in Q3 of the current financial year (January – March 24). EPS was Tk 0.27 paisa during the same period last year. NAV per share was Tk. 16.37 as of March 31, 2024.

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Dutch Bangla Bank Declares 35% Dividends

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Dutch-Bangla Bank

One of the Listed companies, Dutch Bangla Bank PLC has recommended 17.5% Cash Dividends & 17.5% Stock Dividends for the year ended December 31, 2023.

In terms of financial performance, The Company has further informed Consolidated EPS of Tk. 10.72 for the year ended December 31, 2023. The Company has also reported Consolidated NAV per share of Tk. 64.41 for the year ended December 31, 2023.

The Annual General Meeting (AGM) of the company will be taking place on June 09, through the digital platform. The record date for this has been fixed at May 9.

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