Stocks
HC suspends Tk 3m investments conditions in SME Market
DSE: Dhaka Stock Exchange Small and Medium Enterprises (SME) Market where High Court, HC suspends the condition of investing 3 million or (30 lakh) taka on Wednesday, 16 November. Judge Ashfakul Islam & Md Suhrawardy gave a stay order on the HC Bench, which means, for the next 3 months the condition of the Bangladesh Securities & Exchange Commission (BSEC) to invest 30 lakh taka in the SME Market will be suspended and that is effective from last 13 November. Thus, now it means investors can invest in the SME Market. This information is known from related sources.
However, today this information has been sent to BSEC, hence, HC order copies have also been sent to Joint Stock Companies and Firms of Bangladesh (RJSC), Dhaka Stock Exchange, Chittagong Stock Exchange (CSE) and Central Depository of Bangladesh (CDBL).
Before then, on 13 November, a resident of Dilkusha from Dhaka, Advocate of the Supreme Court Mostafa Kamal filed a writ (writ no: 13749) on behalf of Raju Hasan. 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.
After filing the writ petition, HC wants to know the reasons for the investment limit in the SME market, from the BSEC, and regarding this from today (16 November) HC suspends teh conditions of investing 30lakh taka in SME Market.
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.
Dhaka Stock Exchange DSE, Bourse on the last working day of the week, April 25th, ended with a massive drop in Indices and Turnover from the previous working session. This information is known from DSE sources.
511 crore 43 lakh taka shares were traded on this day. 91 crore 31 lakh less tradings were done in DSE today compared to the previous workday, 23rd April , Shares worth Tk 602 crores 74 lakh shares were traded last time, Wednesday.
The benchmark DSEX lost 60.48 points or 5,518 The Shariah-based index DSES dropped 12.29 points or 1,217, and the blue-chip index DS30 decreased by 10.17 points or 1,974.
Of the issues traded, 69 advanced, 300 declined and 27 remained unchanged.
ADN Telecom Limited ranked top gainer on DSE, the share price increased by Tk 9.60 paisa or 8.66 percent. On this day, the share was last traded at Tk 120.50 paisa.
Bata Shoe Company Bangladesh Limited ranked top loser on the DSE, the share price dropped by Tk 36.9 paisa or 3.77 percent. On this day, the share was last traded at Tk 941.00 paisa.
DSE topped on trade is Orion Infusion Limited 31 crore 69 lakh takas of company shares have been traded.
A total of 35 companies’ shares were traded in the Block on Dhaka Stock Exchange. A total of 26 lakh 36 thousand 734 shares of the companies were traded. The financial value of which is 16 crore 61 lakh taka
One of the Listed companies, Bangladesh National Insurance Company Limited has recommended 20% Cash Dividend for the year ended December 31, 2023.
In terms of financial performance, The Company has also reported EPS of Tk. 4.04 for the year ended December 31, 2023. The Company has also reported NAV per share of Tk 26.28 paisa for the year ended December 31, 2023.
The Annual General Meeting (AGM) of the company will be held on June 25, through the digital platform. The record date for this has been fixed at May 27.
One of the Listed companies, Bata Shoe Limited has recommended 105% Final Cash Dividend (Total 435% Cash Dividend for the year ended December 31, 2023 inclusive of 330% Interim Cash Dividend, which has already been paid) for the year ended December 31, 2023
In terms of financial performance, The Company has also reported EPS of Tk. 29.31 for the year ended December 31, 2023. The Company has also reported NAV per share of Tk 237.93 paisa for the year ended December 31, 2023.
The Annual General Meeting (AGM) of the company will be held on July 16, through the digital platform. The record date for this has been fixed at May 16.
