Stocks
CSE Granted Conditional License for Commodity Exchange
The Bangladesh Securities and Exchange Commission (BSEC) has conditionally granted the country’s first commodity exchange license to the Chittagong Stock Exchange (CSE) on Wednesday, March 20th. The condition stipulates that strategic investors must divest their ownership of brokerage firms within three months of receiving the license.
Commodity exchange regulations prohibit strategic investors from holding shares in any brokerage firm that has ownership in the CSE. According to a BSEC official, Stock and Security Linkway Limited, a concern of strategic investor ABG Limited of Bashundhara Group, owns 0.51% of CSE shares, which must be transferred to an entity unaffiliated with ABG Ltd.
Speaking at a program regarding this development, Asif Ibrahim, chairman of CSE, stated, “We anticipate formally inaugurating Bangladesh’s first commodity exchange within this year. The procurement of hardware and software is nearing completion, facilitating this endeavor.” He noted that Multi Commodity Exchange of India has been appointed as a technical adviser due to its expertise in the field.
Ibrahim highlighted the significance of establishing a commodity exchange in Bangladesh, noting the absence of such exchanges unlike in neighboring countries like India, Pakistan, and Nepal. He emphasized that the exchange would eliminate syndicates manipulating commodity prices, particularly benefiting the port city of Chattogram.
State Minister for Commerce Ahsanul Islam Titu, serving as the chief guest, expressed optimism about the establishment of the commodity exchange. He envisioned enhanced transparency in commodity prices in both international and domestic markets, preventing price manipulation and mitigating issues like money laundering and revenue loss. The program was chaired by BSEC Chairman Shibli Rubaiyat Ul Islam, with Sheikh Kabir Hossain, Chairman of Central Depository Bangladesh Ltd, as a special guest.
Dhaka Stock Exchange DSE, Bourse on the first working day of the week, April 28th, ended with a massive hike in Indices and Turnover from the previous working session. This information is known from DSE sources.
613 crore 95 lakh taka shares were traded on this day. 102 crore 51 lakh more tradings were done in DSE today compared to the previous workday, 25th April , Shares worth Tk 511 crores 43 lakh shares were traded last time, Thursday.
The benchmark DSEX added 97.36 points or 5,615 The Shariah-based index DSES hiked 16.88 points or 1,234, and the blue-chip index DS30 increased by 21.63 points or 1,996.
Of the issues traded, 300 advanced, 52 declined and 44 remained unchanged.
BD Thai Aluminium Limited ranked top gainer on DSE, the share price increased by Tk 2.00 paisa or 10.00 percent. On this day, the share was last traded at Tk 22.00 paisa.
ADN Telecom Limited ranked top loser on the DSE, the share price dropped by Tk 3.60 paisa or 2.99 percent. On this day, the share was last traded at Tk 116.90 paisa.
DSE topped on trade is Malek Spinning Mills PLC 34 crore 98 lakh takas of company shares have been traded.
A total of 34 companies’ shares were traded in the Block on Dhaka Stock Exchange. A total of 1 crore 20 lakh 67 thousand 749 shares of the companies were traded. The financial value of which is 45 crore 3 lakh taka
One of the listed companies, Summit Alliance Port Limited discloses its financial reports for the third quarter, (January – March 24).
The company’s earnings per share (EPS) was Tk 0.48 paisa in Q3 of the current financial year (January – March 24). EPS was Tk 0.23 paisa during the same period last year. NAV per share was Tk. 33.29 as on March 31, 2024.
One of the Listed companies, Trust Bank Company Limited has recommended 12% Cash Dividend % 8% Stock Dividend for the year ended December 31, 2023.
In terms of financial performance, The Company has also reported Consolidated EPS of Tk. 4.97 for the year ended December 31, 2023. Consolidated NAV per share of Tk. 27.24 paisa.
The Annual General Meeting (AGM) of the company will be held on July 16, through the digital platform. The record date for this has been fixed at May 29.
Q1 Financials: The company’s earnings per share Consolidated EPS was Tk. 0.38 for January – March 2024 as against Consolidated EPS of Tk 0.29 for January – March 2023. As of March 31, 2024, net asset value (NAVPS) was Tk 27.43 paisa.
