Stocks
Bourses Performed Green
Dhaka Stock Exchange DSE, Bourses on the third working day of the week, January 10, ended with price index & turnover hikes.
This information is known from DSE sources.
462 crores 52 lakh shares were traded in DSE on this day. 127 crores 82 Lakh more trading was done in DSE today compared to the previous workday, 9 January, Shares worth Tk 334 crores 69 lakh shares were traded in DSE last time, Sunday.
The benchmark index DSEX hiked 13.73 points or 6,205. The Shariah-based index DSES rose 4.69 points or 1,357, and the blue-chip index DS30 increased 5.80 points or 2,197.
Of the issues traded, 66 advanced, 96 declined, and 174 remained unchanged.
JMI Hospital Requisite Manufacturing Limited ranked top gainer on DSE, the share price increased by Tk 7.3 paisa or 9.89 percent. On this day, the share was last traded at Tk 81.10 paisa.
On the other hand, ADN Telecom Limited ranked top loser on the DSE, the share price dropped by Tk 6.80 paisa or 5.36 percent. On this day, the share was last traded at Tk 120.10 paisa.
DSE topped on trade Bangladesh Shipping Corporation Limited, 31 crores 65 lakh 37 thousand takas of shares of the company have been traded.
A total of 59 companies’ shares were traded in the Block on Dhaka Stock Exchange, 1 crore 42 lakh 19 thousand 354 shares of the companies were traded. The financial value of which is 48 crore 72 lakh taka.
/NR
One of the listed mutual fund, NCCBL Mutual Fund-1 discloses its financial reports for the second quarter, (April – June 24).
The company’s earnings per unit (EPU) was loss Tk 0.1273 paisa in Q2 of the current financial year (April – June 24). EPU was Tk. 0.33 for the same period last year. NAV per unit at market price was Tk. 9.40 and NAV per unit at cost price was Tk. 10.40 as on June 30, 2024.
One of the Listed companies, Eastern Housing Ltd. has recommended 19% Cash dividend for General Public for the year ended June 30, 2024.
It has reported Consolidated EPS loss of Tk 6.04 paisa, and Consolidated NAV per share loss of Tk. 83.62 for the year ended June 30, 2024.
The Annual General Meeting (AGM) of the company will be held on Ocotober 30, through the digital platform. The record date for this has been fixed at October 3.
Stocks
BSEC Orders Investigation Into Salman, S Alam Group Over Stock Market Scandal & Other Allegations
The Bangladesh Securities and Exchange Commission (BSEC) has ordered an investigation into Salman F Rahman, former private industry and investment adviser to the deposed prime minister, and other members of his family, as well as companies under his control. The investigation relates to allegations surrounding the stock market scandal and other accusations. The BSEC has also instructed an inquiry into whether any irregularities have occurred in the capital market involving activities of Saiful Alam, chairman of S Alam Group, his wife, son-in-law, relatives, and companies under his control.
This directive was issued in an order signed by Md Mahmudul Haque, director of BSEC, on Monday (9 September).
According to sources, BSEC has formed a four-member investigation committee to probe the allegations against Salman F Rahman and S Alam. The appointed officials include BSEC Director Mohammad Abul Hasan, Additional Director Md Nazrul Islam, Assistant Director Amit Kumar Saha, and Towhidul Islam Saddam.
The investigation committee has been instructed to submit its report to the commission within 60 working days.
The investigation was prompted by a report published in Prothom Alo on 14 August, which detailed allegations of irregularities involving Salman F Rahman and S Alam Group.
The Prothom Alo report mentioned that Salman F Rahman had been known as a top defaulter since the 1980s. His name surfaced during the 1996 stock market scandal. However, after the Awami League government came to power in 2009, companies under the Beximco Group, owned by Salman F Rahman, were removed from the defaulter’s list by receiving special privileges. In 2011, following another stock market scandal, an investigation committee led by Khondker Ibrahim Khaled pointed to Salman F Rahman’s influence on the regulatory body.
The report also noted that S Alam Group, a close ally of the recently ousted Awami League government, took control of Islami Bank Bangladesh PLC in 2017 through a political decision. Since then, nearly Tk50,000 crore has reportedly been siphoned off from the bank by S Alam Group and its affiliates, including Nabil Group from Rajshahi, under various aliases. This amount represents about one-third of the bank’s total loans. Officials believe that the actual amount of funds misappropriated could be higher than the reported figures.
The report alleged that funds were withdrawn from Islami Bank Bangladesh PLC under the names of S Alam Group’s chairman Saiful Alam, his wife, son-in-law, relatives, and several employees. Consequently, BSEC has also decided to launch an investigation into them.
