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17 firms announced their financial reports

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Dhaka Bourses 17 listed firms Phoenix Insurance Company Ltd, Republic Insurance Company Ltd, ADN Telecom Ltd, Islami Insurance Bangladesh Ltd, Rupali Bank Ltd, Crystal Insurance Ltd, Midas Financing Ltd, Islami Bank Bangladesh Ltd, Union Bank Ltd, Bank Asia Ltd, Bangladesh General Insurance Company Ltd, LankaBangla Finance Ltd, Eastern Insurance Company Ltd, Trust Bank Ltd, Islamic Finance Bank Ltd, BRAC Bank, Mercantile Bank Ltd have announced their Financial reports.

Phoenix Insurance Company Ltd, has released its Q3 unaudited financial report, (July-September’22) ended on September 30, 2022.

The company’s earnings per share (EPS) stood at 57 paisa. EPS was 67 paisa during the same period last year.

On the other hand, the EPS of the company has been 1 taka 96 paisa in three quarters. The EPS was Tk 2.6 paisa during the same period last year.

The company’s net asset value per share (NAVPS) as on September 30, 2022, was Tk 37.24 paisa.

Republic Insurance Company Ltd has released its Q3 unaudited financial report. (July-September’22) ended on September 30, 2022.

The company’s earnings per share (EPS) stood at 64 paisa. EPS was 70 paisa during the same period last year.

On the other hand, the EPS of the company has been 1 taka 90 paisa in three quarters. The EPS was Tk 1.86 paisa during the same period last year.

The company’s net asset value per share (NAVPS) as on September 30, 2022, was Tk 17.75 paisa.

ADN Telecom Ltd has released its Q1 unaudited financial report. (July-September’22) ended on September 30, 2022.

The company’s earnings per share (EPS) stood at 1 taka 1 paisa. EPS was 63 paisa during the same period last year.

The company’s net asset value per share (NAVPS) as on September 30, 2022, was Tk 28.60 paisa.

Islami Insurance Bangladesh Ltd has released its Q3 unaudited financial report. (July-September’22) ended on September 30, 2022.

The company’s earnings per share (EPS) stood 69 paisa. Earnings per share (EPS) was 71 paisa during the same period last year.

On the other hand, the company’s earnings per share (EPS) in 9 months (January,22-September,22) has been Tk 1.95 paisa. Earnings per share (EPS) in the same period last fiscal was Tk 1.93 paisa.

Rupali Bank Ltd, has released its Q3 unaudited financial report, (July-September’22) ended on September 30, 2022.

The company’s earnings per share (EPS) drops 9 paisa. Earnings per share (EPS) drops 3 paisa during the same period last year.

On the other hand, the company’s earnings per share (EPS) in 9 months (January,22-September,22) has been 20 paisa. Earnings per share (EPS) in the same period last fiscal was 37 paisa.

The company’s net asset value per share (NAVPS) as on September 30, 2022, was Tk 37.57 paisa.

Crystal Insurance Ltd, has released its Q3 unaudited financial report, (July-September’22) ended on September 30, 2022.

The company’s earnings per share (EPS) stood at 71 paisa. EPS was 75 paisa during the same period last year.

On the other hand, the EPS of the company has been 2 taka 1 paisa in three quarters. The EPS was Tk 1.84 paisa during the same period last year.

The company’s net asset value per share (NAVPS) as on September 30, 2022, was Tk 23.71 paisa.

Midas Financing Ltd, has released its Q3 unaudited financial report, (July-September’22) ended on September 30, 2022.

The company’s earnings per share (EPS) drops 66 paisa. Earnings per share (EPS) drops paisa during the same period last year.

On the other hand, the EPS of the company has been 3 taka 5 paisa in three quarters. The EPS was Tk 66 paisa during the same period last year.

The company’s net asset value per share (NAVPS) as on September 30, 2022, was Tk 9.08 paisa.

Islami Bank Bangladesh Ltd, has released its Q3 unaudited financial report, (July-September’22) ended on September 30, 2022.

The company’s earnings per share (EPS) stood at 61 paisa. EPS was 59 paisa during the same period last year.

On the other hand, the EPS of the company has been 2 taka 71 paisa in three quarters. The EPS was Tk 2.67 paisa during the same period last year.

The company’s net asset value per share (NAVPS) as on September 30, 2022, was Tk 42.28 paisa.

Union Bank Ltd, has released its Q3 unaudited financial report, (July-September’22) ended on September 30, 2022.

The company’s earnings per share (EPS) stood at 56 paisa. EPS was 37 paisa during the same period last year.

On the other hand, the EPS of the company has been 1 taka 34 paisa in three quarters. The EPS was Tk 1.24 paisa during the same period last year.

The company’s net asset value per share (NAVPS) as on September 30, 2022, was Tk 15.30 paisa.

Bank Asia Ltd, has released its Q3 unaudited financial report, (July-September’22) ended on September 30, 2022.

The company’s earnings per share (EPS) stood at 68 paisa. EPS was 61 paisa during the same period last year.

On the other hand, the EPS of the company has been 2 taka 68 paisa in three quarters. The EPS was Tk 2.36 paisa during the same period last year.

The company’s net asset value per share (NAVPS) as on September 30, 2022, was Tk 24.51 paisa.

Bangladesh General Insurance Company Ltd, has released its Q3 unaudited financial report, (July-September’22) ended on September 30, 2022.

The company’s earnings per share (EPS) stood at 31 paisa. EPS was 30 paisa during the same period last year.

On the other hand, the EPS of the company has been 1 taka 56 paisa in three quarters. The EPS was Tk 1.88 paisa during the same period last year.

LankaBangla Finance Ltd, has released its Q3 unaudited financial report, (July-September’22) ended on September 30, 2022.

The company’s earnings per share (EPS) stood at 28 paisa. EPS was 96 paisa during the same period last year.

On the other hand, the EPS of the company has been 86 paisa in three quarters. The EPS was Tk 1.67 paisa during the same period last year.

The company’s net asset value per share (NAVPS) as on September 30, 2022, was Tk 19.67 paisa.

Eastern Insurance Company Ltd, has released its Q3 unaudited financial report, (July-September’22) ended on September 30, 2022.

The company’s earnings per share (EPS) stood at 88 paisa. EPS was 2 taka 22 paisa during the same period last year.

On the other hand, the EPS of the company has been 2 taka 65 paisa in three quarters. The EPS was Tk 4.4 paisa during the same period last year.

The company’s net asset value per share (NAVPS) as on September 30, 2022, was Tk 51.85 paisa.

Trust Bank Ltd, has released its Q3 unaudited financial report, (July-September’22) ended on September 30, 2022.

The company’s earnings per share (EPS) stood at 1 taka 41 paisa. EPS was 1 taka 62 paisa during the same period last year.

On the other hand, the EPS of the company has been 3 taka 56 paisa in three quarters. The EPS was Tk 3.64 paisa during the same period last year.

The company’s net asset value per share (NAVPS) as on September 30, 2022, was Tk 25.44 paisa.

Islamic Bank Finance Ltd has released its Q3 unaudited financial report, (July-September’22) ended on September 30, 2022.

The company’s earnings per share (EPS) dropped at 55 paisa. EPS was 15 paisa during the same period last year.

On the other hand, the EPS of the company has been 7 paisa in three quarters. The EPS was 89 paisa during the same period last year.

The company’s net asset value per share (NAVPS) as on September 30, 2022, was Tk 14.33 paisa.

BRAC Bank Ltd, has released its Q3 unaudited financial report, (July-September’22) ended on September 30, 2022.

The company’s earnings per share (EPS) stood at 1 taka 6 paisa. EPS was 95 paisa during the same period last year.

On the other hand, the EPS of the company has been 2 taka 53 paisa in three quarters. The EPS was Tk 2.67 paisa during the same period last year.

The company’s net asset value per share (NAVPS) as on September 30, 2022, was Tk 39.66 paisa.

Mercantile Bank Ltd, has released its Q3 unaudited financial report, (July-September’22) ended on September 30, 2022.

The company’s earnings per share (EPS) stood at 1 taka 3 paisa. EPS was 1 taka 29 paisa paisa during the same period last year.

On the other hand, the EPS of the company has been 3 taka 25 paisa in three quarters. The EPS was Tk 3.22 paisa during the same period last year.

The company’s net asset value per share (NAVPS) as on September 30, 2022, was Tk 24.88 paisa.

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Market Woes Drive Investors Away as Dhaka Bourse Sees Significant Decline

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By June 20 this year, approximately 102,000 beneficiary owners’ (BO) accounts were emptied, and market capitalization plummeted by Tk 1.37 lakh crore due to prolonged poor returns, frustrating investors and prompting them to exit the market.

Data from the Central Depository Bangladesh Limited (CDBL) reveals that in the six months leading up to June 20, the total number of BO accounts with zero share balance surged by 34% to 398,000, while BO accounts with share balances fell by 91,651 to 1.312 million.

During this period, the benchmark index DSEX of the Dhaka Stock Exchange (DSE) dropped over 1,000 points, closing at 5,244, while the blue-chip index DS30 fell by 218 points, settling at 1,875. The market capitalization at DSE also declined by over 17%, ending at Tk 6.43 lakh crore on June 20.

Rising interest rates, taxes on individual investors’ capital gains from listed securities, and a severe confidence crisis due to regulatory interventions are collectively impacting stock market performance, according to stockbrokers and market experts.

The capital market has been grappling with economic uncertainty, exacerbated by the Russia-Ukraine war. In response to the crisis, the Bangladesh Securities and Exchange Commission (BSEC) imposed a floor price in 2022 to prevent a freefall in share prices. Despite lifting the restriction after more than two years, the bearish trend persisted. Consequently, BSEC reintroduced protective measures, including reducing the circuit breaker limit from 10% to 3%.

Abu Ahmed, former economics professor at the University of Dhaka, explained that unprecedentedly high interest rates, especially on treasury bonds, have driven large investors to shift their funds from the stock market to bonds. “With treasury bond rates steady at around 12%, it’s a risk-free, preferred choice for many investors,” he said. This shift has resulted in a fund crisis in the market, he added.

Ahmed also highlighted a decline in the number of reputable companies entering the market and underperformance in key sectors like banks, insurance, non-bank financial institutions, and manufacturing companies. He pointed out that a lack of good governance and long-term policy support has eroded investor confidence. Additionally, the government is withdrawing previously granted investment benefits.

Md Saiful Islam, president of the DSE Brokers Association of Bangladesh (DBA), stated in a June 11 press conference that factors such as the absence of high-quality initial public offerings (IPOs), governance issues among stakeholders, and the proposed capital gains tax are diminishing investor confidence. He urged the government to withdraw the capital gains tax, asserting that it exacerbates an already bleak market.

Finance Minister AH Mahmood Ali proposed a 15% tax on individual investors’ capital gains exceeding Tk 50 lakh from listed securities in the upcoming fiscal year budget, amid a market downturn. However, Abu Hena Md Rahmatul Muneem, chairman of the National Board of Revenue, argued in a post-budget press conference that taxation was not the root cause of the market’s issues, citing that long-standing tax incentives had not spurred market growth.

Despite these challenges, the benchmark index of the DSE has risen over the last four trading sessions, recovering 174 points to close at 5,244 last Thursday. Stockbrokers attribute this uptick to investor optimism about a potential rationalization of the capital gains tax proposal and a concessional salvage fund for the state-owned Investment Corporation of Bangladesh (ICB).

EBL Securities noted in their daily market commentary that rumors about the possible withdrawal of the proposed capital gains tax have instilled some confidence among cautious investors.

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Dhaka Bourse Skyrockets, Achieving 4-Day Gaining Streak

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Dhaka Stock Exchange DSE, Bourse on the last working day of the week, 20th June, ended with a hike in Indices and Turnover from the previous working session. This information is known from DSE sources.

452 crore 94 lakh taka shares were traded on this day. 206 crore 50 lakh more tradings were done in DSE today compared to the previous workday, June 19th, Shares worth Tk 246 crores 44 lakh shares were traded last time, Wednesday

The benchmark DSEX increased 82.74 points or 5,244 The Shariah-based index DSES added 24.78 points or 1,146, and the blue-chip index DS30 gained by 31.34 points or 1,875.

Of the issues traded, 288 advanced, 55 declined and 50 remained unchanged.

Linde Bangladesh Limited ranked top gainer on DSE, the share price increased by Tk 424.10 paisa or 43.04 percent. On this day, the share was last traded at Tk 1409.40 paisa.

Global Heavy Chemicals Limited ranked top loser on the DSE, the share price dropped by Tk 1.20 paisa or 3.00 percent. On this day, the share was last traded at Tk 38.90 paisa.

DSE topped on trade is Asiatic Laboratories Limited 14 crore 63 lakh takas of company shares have been traded.

A total of 45 companies’ shares were traded in the Block on Dhaka Stock Exchange. A total of 1 crore 71 lakh 39 thousand 978 shares of the companies were traded. The financial value of which is 113 crore 38 lakh taka.

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National Tea Sets New Subscription Date for Tk279.7cr Placement Shares

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National Tea Company Limited, a publicly traded entity, has announced new subscription dates for its Tk279.7 crore placement shares. Originally slated for nearly a year ago, the subscription had been postponed by regulatory authorities but is now set to proceed following a recent court directive.

According to the company’s disclosure, the subscription period will run from June 19 to August 19 during banking hours. This follows a letter from the Bangladesh Securities and Exchange Commission (BSEC) instructing the resumption of the capital-raising initiative, in compliance with a High Court order.

The primary objective of issuing these placement shares is to fuel business growth, finance working capital, and repay bank loans. However, due to a funding shortfall, the company has been unable to complete its modernization projects and other initiatives, resulting in decreased turnover caused by declining average sale prices in the auction market for its products.

Following the court’s directive, significant progress has been made in implementing the state-owned company’s plans.

In July of the previous year, Jakir Hossain Sarkar, a minor shareholder with just 10 National Tea shares, filed a writ petition with the High Court opposing the company’s scheme to issue fresh shares as approved by the BSEC, alleging unequal treatment of existing shareholders. The court later upheld the BSEC’s approval. Upon a petition by the market regulator, the Appellate Division’s chamber judge temporarily stayed the High Court’s order.

Shareholders have borne the brunt of these legal battles. After the record date, the price of National Tea shares dropped in anticipation of the increased number of shares, and the issuance of placement shares remained uncertain.

In April last year, National Tea received BSEC approval to raise its paid-up capital by issuing 2.34 crore shares at Tk119.53 each, inclusive of a Tk109.53 premium per share. The distribution plan allocated 1.24 crore shares to the government, Investment Corporation of Bangladesh, and Sadharan Bima Corporation at an average ratio of 4.43 new shares for each existing share. Sponsor-directors were allocated 13.8 lakh shares at a ratio of 3.21:1, and general shareholders were to receive nearly 96 lakh shares at a 2.85:1 ratio.

As of Wednesday, National Tea shares closed at Tk388.60 each on the Dhaka Stock Exchange. Founded in 1978 and listed on the capital market in 1979, National Tea cultivates, manufactures, and sells tea and rubber in the local market. The company’s average annual production is about 52 lakh kg of tea, most of which is sold through the Chattogram auction market.

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