Stocks
Adani shares jumps after botched $2.5b share sells
Shares in India’s Adani group of companies plunged on Thursday, (2 February) after the tycoon Gautam Adani-led conglomerate shelved a $2.5 billion share sale amid a turbulent market, citing the need to insulate investors from potential losses.
Adani on Wednesday called off the share sale as a rout sparked by U.S. short-sellers criticisms wiped billions more off the value of the Indian tycoon’s stocks.
Shares in Adani Enterprises (ADEL.NS) dropped 8 percent, after opening 10 percent higher, while Adani Ports and Special Economic Zone (APSE.NS) fell 10 percent.
Adani Total Gas (ADAG.NS) was down 10 percent, Adani Power (ADAN.NS) lost 5 percent, Adani Wilmar (ADAW.NS) sank 5 percent while Adani Green Energy (ADNA.NS) tumbled 10 percent.
The withdrawal of the Adani Enterprises (ADEL.NS) share marked a stunning setback for Adani, the school dropout-turned-billionaire whose fortunes rose rapidly in recent years in line with the stock values of his businesses.
“Today the market has been unprecedented, and our stock price has fluctuated over the course of the day. Given these extraordinary circumstances, the company’s board felt that going ahead with the issue will not be morally correct,” Adani said late on Wednesday.
Dhaka Stock Exchange DSE, Bourses on the third working day of the week, March 21, ended with price index & turnover hikes.
This information is known from DSE sources.
349 crores 61 lakh shares were traded in DSE on this day. 4 crores 95 lakhs less trading was done in DSE today compared to the previous workday, 20 March, Shares worth Tk 344 crores 66 lakh shares were traded in DSE last time, Monday.
The benchmark index DSEX hiked 18.72 points or 6,222. The Shariah-based index DSES rose 5.90 points or 1,355, and the blue-chip index DS30 gained 4.80 points or 2,220.
Of the issues traded, 87 advanced, 14 declined, and 224 remained unchanged.
Legacy Footwear Limited ranked top gainer on DSE, the share price increased by Tk 4.3 paisa or 10.00 percent. On this day, the share was last traded at Tk 47.30 paisa.
On the other hand,Renwick Jagneswar & Co (Bd) Ltd ranked top loser on the DSE, the share price dropped by Tk 15.7 paisa or 2.05 percent. On this day, the share was last traded at Tk 750.10 paisa.
DSE topped on trade Sea Pearl Beach Resort & Spa Limited 30 crores 78 lakh 18 thousand takas of shares of the company have been traded.
A total of 51 companies’ shares were traded in the Block on Dhaka Stock Exchange, 45 lakh 77 thousand 172 shares of the companies were traded. The financial value of which is 36 crore 90 lakh taka.
One of the Listed Companies, Phoenix Insurance Company Limited has recommended 15 percent cash Dividend to its investors for the Financial Year ending December 31, 2022.
This source is known from DSE.
The Company has reported EPS of Tk 2.02 paisa, NAV per share of Tk 37.10 for the year ended December 31, 2022, as against EPS of Tk 2.20 paisa.
The Annual General Meeting (AGM) of the company will be held on May 31 through the digital platform. The record date for this has been fixed at April 17.
/NR
One of the Listed Companies, Central Insurance Company Limited has recommended 15 percent cash Dividend to its investors for the Financial Year ending December 31, 2022.
This source is known from DSE.
The Company has reported EPS of Tk 2.03 paisa, NAV per share of Tk 49.48 for the year ended December 31, 2022, as against EPS of Tk 2.41 paisa.
The Annual General Meeting (AGM) of the company will be held on May 28 through the digital platform. The record date for this has been fixed at April 16.
/NR
