Stocks
HC Quotes: Why SME Market not open for all?
HC: High Court wants to know why the small capitalized companies (SMEs) in DSE are not open to all investors. At the same time, even if there is a floor price, why it is not present in the SME, the High Court has given a notice to BSEC to show the reason in this regard. The High Court has suspended the investment limit in the SME for the next three months & has ordered BSEC to respond in this matter within the next 7 working days.
In the meantime, on Sunday, November 13, Judge Md. Ashfakul Islam and Md. Suhrawardy filed a writ in a High Court bench comprising. Business News Portal published the news from Orthosongbad that headlined ‘Falling prices in SMEs, investors fear loss of capital’‘ and attached as a source in the writ petition. This information is known from related sources.
According to sources, BSEC has mandated a minimum investment which limits of Tk 30 lakh for investing in SME platforms. In this Writ, ensuring investment facilities in SMEs for all, guidance is asked on the imposition of floor price. Writ No. 13749 filed in High Court Bench. Advocate Mustafa Kamal of the Supreme Court filed the writ on behalf of Raju Hasan.
It was known that the BSEC, the capital market regulatory body, cancel the OTC market of two stock exchanges (DSE and CSE) on September 16 last year. On that day, the commission decided to delist 29 companies and transfer 41 companies to SME and ATB (Alternative Trading Board).
Later, the same last year, September 30, trading started on the SME platform of the DSE. On that day, transactions were initially launched on DSE’s SME platform with 6 companies. Currently there are 15 companies listed in SME. Out of this, the shares of 13 companies are being traded regularly.
The investment amount for the latest SME platform investment was determined on September 22 this year. In an order signed by BSEC Chairman Professor Shibli Rubayat-Ul-Islam, it is stated that to be an eligible investor in the SME Trades, there should be a minimum investment of 30 lakh takas in the stock market.
According to the sources, it has been mentioned that restricting investment in SMEs is against the constitution.
In the meantime, the share price of the SME Platform increased at the beginning of the trading, but later the price of most of the shares fell below half. On November 2, Orthosongbad published a news regarding this issue.
Dhaka Stock Exchange DSE, Bourse on the third working day of the week, December 5, ended with price Index hikes & turnover drops. This information is known from DSE sources.
460 crore shares were traded on this day. 31 crore 78 lakh less trading was done in DSE today compared to the previous workday, 4 December, Shares worth Tk 491 crores 78 lakh shares were traded last time, Monday.
The benchmark DSEX added 3.16 points or 6,247 The Shariah-based index DSES gained 1.79 points or 1,359, and the blue-chip index DS30 decreased by 0.65 points or 2,113.
Of the issues traded, 60 advanced, 94 declined and 170 remained unchanged.
Capitec Grameen Bank Growth Fund ranked top gainer on DSE, the share price increased by Tk 1.10 paisa or 10.00 percent. On this day, the share was last traded at Tk 12.10 paisa.
GQ Ball Pen Industries Limited ranked top loser on the DSE, the share price dropped by Tk 13.20 paisa or 7.51 percent. On this day, the share was last traded at Tk 162.60 paisa.
DSE topped on trade is Central Pharmaceuticals Limited 25 crore 58 lakh takas of shares of the company have been traded.
A total of 62 companies’ shares were traded in the Block on the Dhaka Stock Exchange, 41 lakh 30 thousand 415 shares of the companies were traded. The financial value of which is 18 crore 12 lakh taka.
Dhaka Stock Exchange DSE, Bourse on the second working day of the week, December 4, ended with price Index & turnover hikes. This information is known from DSE sources.
491 crore 78 lakh shares were traded on this day. 142 crore 77 lakh more trading was done in DSE today compared to the previous workday, 30 November, Shares worth Tk 349 crores 1 lakh shares were traded last time, Sunday.
The benchmark DSEX added 12.45 points or 6,244 The Shariah-based index DSES gained 1.92 points or 1,357, and the blue-chip index DS30 increased by 5.69 points or 2,114.
Of the issues traded, 107 advanced, 49 declined and 169 remained unchanged.
Bangladesh Autocars Limited ranked top gainer on DSE, the share price increased by Tk 13.10 paisa or 9.95 percent. On this day, the share was last traded at Tk 144.70 paisa.
Jute Spinners Limited ranked top loser on the DSE, the share price dropped by Tk 13.50 paisa or 4.13 percent. On this day, the share was last traded at Tk 313.10 paisa.
DSE topped on trade is Khulna Printing and Packaging Limited 27 crore 24 lakh takas of shares of the company have been traded.
A total of 54 companies’ shares were traded in the Block on the Dhaka Stock Exchange, 37 lakh 64 thousand 536 shares of the companies were traded. The financial value of which is 28 crore taka.
The Bangladesh Securities and Exchange Commission (BSEC) has undergone significant restructuring, bringing about substantial changes in the responsibilities of officials from commissioners to assistant directors. According to BSEC sources, this restructuring involves the reassignment of two commissioners, four executive directors, eight directors, two additional directors, and eight assistant directors to different departments.
As per BSEC, Professor Dr. Sheikh Shamsuddin Ahmed, the Commissioner has been assigned the responsibility of the Division of Issuer Companies Affairs, Corporate Finance, and Financial Literacy Division within the Market and Intermediaries Affairs Division. On the other hand, the Chief Accountant Division’s responsibility has been given to another BSEC Commissioner, M. Abdul Halim.
Additionally, Abdul Halim has been entrusted with the Market Intelligence and Investigation Division and Derivatives Division. Meanwhile, he will also oversee the duties of the Chief Accountant Division. BSEC Chairman Professor Shibli Rubayat-Ul-Islam will directly oversee the Administration and Finance Division and the Commission’s Secretariat Division.
Mohammad Anwarul Islam, the Executive Director of BSEC, has been assigned the responsibilities of the Derivatives and Research and Development Divisions. Simultaneously, he will be responsible for the Investment Management Division. Executive Director Mohammad Rezaul Karim will oversee the responsibilities of the Compliance Division in addition to his existing role in the Legal Division. Executive Director Mohammad Shafiul Azam has been assigned to the Financial Literacy Division. Executive Director Mohammad Jahangir Alam has been given charge of the Market and Intermediaries Affairs Division. Besides, the responsibilities of eight directors, two additional directors and eight assistant directors of BSEC have been redistributed.
BSEC Secretary Division’s responsibilities have been assigned to Director General Muhammad Mahmudul Haque. Director General Pradip Kumar Basak will continue to oversee the responsibilities of the Administration and Finance Division, with additional duties in the Accounts and Finance Department. Director General Mohammad Abul Kalam will manage the responsibilities of the Division of Issuer Companies Affairs, alongside his role as the Chief Accountant of the Division. Director General Md. Mansoor Rahman has been assigned the responsibility of the existing Issuer Company Affairs Division as well as the Market and Intermediaries Affairs Division. Director Mohammad Abul Hasan has been given the responsibility of the Investment Management Division and Derivatives Division.
The Division of Derivatives and the Derivatives Division will be led by Director General Sheikh Mahbubur Rahman. Furthermore, Director General Abu Rayhan Mohammad Mutasim will be in charge of the Internal Audit and Compliance Division, in addition to his role in the Research and Development Division. Director General Mohammad Fakhrul Islam Mojumdar will assume responsibilities for the Corporate Finance Division and the Enforcement Division. Lastly, Director General Mohammad Fakhrul Islam Majumder will head the Corporate Finance Division and the Enforcement Division.
