Stocks
Indices Negative, Despite Turnover Surge on DSE
Dhaka Stock Exchange DSE, Bourse on the first working day of the week, 30th June, ended with a drop in Indices and Turnover from the previous working session. This information is known from DSE sources.
712 crore 68 lakh taka shares were traded on this day. 6 crore 85 lakh more tradings were done in DSE today compared to the previous workday, June 27th, Shares worth Tk 705 crores 83 lakh shares were traded last time, Thursday
The benchmark DSEX decreased 27 points or 5,328 The Shariah-based index DSES lost 3.51 points or 1,180 and the blue-chip index DS30 dropped by 12.92 points or 1,909.
Of the issues traded, 92 advanced, 268 declined and 38 remained unchanged.
Bangladesh Lamps ranked top gainer on DSE, the share price increased by Tk 12.20 paisa or 10.00 percent. On this day, the share was last traded at Tk 134.30 paisa.
Bay Leasing & Investment Limited ranked top loser on the DSE, the share price dropped by Tk 0.40 paisa or 5.31 percent. On this day, the share was last traded at Tk 8.90 paisa.
DSE topped on trade is Linde Bangladesh 15 crore 78 lakh takas of company shares have been traded.
A total of 60 companies’ shares were traded in the Block on Dhaka Stock Exchange. A total of 3 crore 10 lakh 82 thousand 415 shares of the companies were traded. The financial value of which is 296 crore 78 akh taka.
Techno Drugs Limited, a pharmaceutical company in the process of raising capital from the stock market through the book-building method, has allocated shares to applicants in its Initial Public Offering (IPO). Due to an oversubscription, shares were distributed proportionately among the applicants.
Domestic investors who applied for shares worth BDT 10,000 received 11 shares each, while those who applied for Tk 10 lakh received 1,166 shares each. Non-resident Bangladeshi applicants were allotted 20 shares for every Tk 10,000 applied, and those who applied for Tk 10 lakh received 2,016 shares each. The share allocation took place on Tuesday, July 2nd.
Currently, there is no lottery system for IPOs in the stock market. Shares are allocated proportionately based on the number of applications received, as was the case with Techno Drugs’ IPO.
The company aims to raise Tk 100 Crore through the IPO. It received applications worth Tk 2 thousand 487 crore, significantly exceeding the target. Of this amount, Tk 2 thousand 412 crore came from general investors, and Tk 61 crore 17 lakh 57 thousand 194 came from eligible investors.
Applications for Techno Drugs’ IPO were submitted between June 9 and June 13. The cut-off price was set at Tk 34, and investors could purchase shares at 30% less than the cut-off price, amounting to Tk 24 per share.
The funds raised from the IPO will be used for purchasing new machinery, BMRE (Narsingdi factory), building construction (Gazipur factory), partial debt repayment, and issue management costs. According to the audited financial statements for the fiscal year ending June 30, 2023, the company’s Net Asset Value per Share (NAVPS) was Tk 27.74, including revaluation, and Tk 22.57 without revaluation. The Earnings Per Share (EPS) for the fiscal year was Tk 2.08, with a weighted average of Tk 3.25 over the past five years.
Imperial Capital Limited and EBL Investments Limited are managing the issue for Techno Drugs Limited.
One of the Listed companies, Sunlife Insurance Company Limited has recommended 0.5% cash Dividend for the year ended December 31, 2023.
The Annual General Meeting (AGM) of the company will be held on August 22, through the digital platform. The record date for this has been fixed at July 23.
Q1 Financials: For the period of January to March 2024, the company’s life revenue account showed a deficit of Tk 5 crore 76 lakh, down from a deficit of Tk 9 crore 71 lakh in the same period of 2023.
As of March 31, 2024, the Life Insurance Fund balance was Tk 51 crore 54 lakh, reflecting a net increase of Tk 4 crore 27 lakh from the Tk 47 crore 27 lakh recorded on March 31, 2023.
One of the Listed companies, Islamic Finance & Investment Limited has recommended No Dividend for the year ended December 31, 2023.
In terms of financial performance, The Company has also reported EPS loss of Tk. 1.64 for the year ended December 31, 2023. NAV per share of Tk. 12.42.
The Annual General Meeting (AGM) of the company will be held on August 22, through the digital platform. The record date for this has been fixed at July 28.
Q1 Financials: The company’s earnings per share (EPS) was loss Tk 1.62 paisa in Q1 of the current financial year (January – March 24). EPS was Tk 0.06 paisa during the same period last year. As of March 31, 2024, at the end of the first quarter of the fiscal year, the company’s net asset value (NAV) per share stood at loss Tk 10.80.
