Stocks
BSEC Eases Rules on Intraco Refueling Shares
The securities regulator has shortened the lock-in period for Intraco Refueling Station’s convertible shares, set to be converted from Intraco Refueling Convertible Bonds. The Bangladesh Securities and Exchange Commission (BSEC) has reduced the lock-in period to two years, applicable to shares obtained through private placement, sponsors, and directors. Previously, the BSEC had approved the issuance of a Tk50 crore convertible bond by the company.
According to the BSEC, a key condition for the bond issuance is that converted shares held by general investors will be lock-in free. The funds raised from this initiative will be allocated for establishing five LPG auto gas stations, five mother-daughter CNG stations, three CNG filling stations, and 40% for working capital.
In December of the previous year, Intraco commenced the supply of natural gas in CNG form from Bhola to various industries in Dhaka and nearby regions. The initial supply is around 5 million cubic feet per day, primarily targeting factories in Gazipur and surrounding areas where piped-gas pressure is low. Industries will be charged Tk47.60 per unit of gas, higher than the current industrial gas rate of Tk30 per unit. Intraco is set to receive Tk30.50 per unit for retailing the gas. The contract stipulates an initial supply of 5mmcfd, gradually increasing to 25mmcfd.
As of November 30, 2023, the company’s share distribution includes sponsors and directors holding 30.06%, institutions holding 14.63%, foreign investors holding 0.04%, and the general public holding 55.27% of the shares. The closing share price on the Dhaka stock exchange was Tk41.10 on Sunday.
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.
