Stocks
Rupali Bank’s Authorized Capital Set to Surge by Tk 1800cr
Rupali Bank PLC has obtained approval to increase its approved capital to 1800 crore taka or triple its previous amount. This information was revealed by a source to Dhaka Stock Exchange on Sunday (March 24). According to the source, the bank has received approval from the Ministry of Finance to enhance its approved capital through the issuance of ordinary shares, raising it from 1800 crore taka to 2500 crore taka. The approval was granted by the Ministry of Finance on Thursday (March 20).
Rupali Bank PLC has achieved record-breaking financial performance in 2023 through the enhancement of service quality, efficient recovery of delinquent loans, and distribution of loans with diversity. The bank has set new records in all economic indicators, including profits. It has attained unprecedented success in areas such as the recovery of delinquent loans, expansion of deposits, loan distribution, opening of new accounts, reduction of local branch costs, and automated operations.
Among the 35 listed banks in the stock market in the first nine months of last year, Rupali Bank PLC has experienced the highest cash flow or Effective Net Operating Cash Flow (NOCFPS). The cash flow of this state-owned bank, along with 22 other banks, has increased from January to September.
Among the banks, Rupali Bank PLC has experienced the highest increase in cash flow per share at the end of the financial year. The company’s cash flow per share stood at Tk 116.54 for the three quarters or nine months (January-September ’23), compared to losses of Tk 69.58 during the same period last year. This signifies an increase of Tk 186.12 per share. In 2022, the bank’s operational profit was Tk 106 crore, whereas at the end of 2023, the operational profit of the bank has exceeded Tk 700 crore. Rupali Bank PLC, the only bank listed on the stock exchange under state ownership, has seen a more than 7-fold increase in operational profit by the end of the year.
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.
