Stocks
Black Money Can Be Legally Invested in Capital Markets: Budget 2024-25
Finance Minister Abul Hasan Mahmood Ali has introduced the proposed national budget for the fiscal year 2024-25, which includes a provision allowing investment of undeclared money, or “black money,” into the capital markets without any questions asked. This initiative aims to bolster investment activity and liquidity in the stock market.
During the budget presentation on Thursday in the National Parliament, presided over by Speaker Shirin Sharmin Chaudhury and in the presence of Prime Minister Sheikh Hasina, the Finance Minister outlined this proposal as a part of the broader budgetary framework.
Key Proposals for the Capital Market
Investment of Undeclared Money: The budget proposes that individuals can invest undeclared money into the stock market without facing any inquiries. This measure is expected to attract more capital into the market, potentially enhancing market stability and growth.
Capital Gains Tax on Share Sales: Investors making profits from share sales will now be subject to taxes if the profit exceeds Tk 50 lakh. A 15% tax on capital gains over this threshold has been proposed. This aims to ensure a fair contribution from high-earning investors to the national revenue.
Historical Tax Exemptions: Previously, in 2015, investors were granted tax exemptions on profits from the sale of stocks, mutual funds, bonds, and debentures. These exemptions were part of efforts to stimulate investment and trading activities in the capital markets.
Increased Tax for Sponsors and Directors: The proposed budget increases the tax rate on capital gains from share transfers for sponsors and directors of listed companies from 5% to 10%. This move is intended to enhance tax revenues from high-value transactions and ensure equity in the tax system.
Exemptions for Family Transfers: No tax will be imposed on the transfer of shares between parents and children or between spouses when such transfers are made as gifts. This provision supports familial financial planning without additional tax burdens.
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.
