Stocks
Bangladesh Finance Capital Appoints New MD & CEO
Bangladesh Finance Capital Appoints Sumit Poddar as New Managing Director and CEO
On Tuesday morning (2 May 2023), Bangladesh Finance Capital, a subsidiary of Bangladesh Finance, announced in a press release that Sumit Poddar has joined as its new Managing Director and CEO. He was granted clearance by the Bangladesh Securities and Exchange Commission prior to assuming his new position.
Sumit Poddar, the newly appointed Managing Director and Chief Executive Officer of Bangladesh Finance Capital, has an impressive 13-year career in the finance industry. He previously led the structured finance department at Bangladesh Finance and was also the head of corporate advisory at City Bank Capital Limited. Prior to joining Bangladesh Finance Capital, he has worked with other notable organizations such as River Stone Capital Limited, Alliance Financial Services Limited, and Alliance Securities and Management Limited.
Sumit Poddar expressed his pride in becoming the Managing Director and CEO of Bangladesh Finance Capital and stated that he is committed to contributing to the organization’s continued success. With over 13 years of experience in the financial sector, he is a skilled professional with a strong background in providing advisory services to clients on a range of financial transactions, such as mergers and acquisitions, portfolio management, fundraising through initial public offerings (IPOs), financing, and restructuring.
Sumit Poddar has advised clients in various sectors, including technology, telecom, banking, power, real estate, manufacturing, and consumer goods, to achieve their financial goals.
Dhaka Stock Exchange DSE, Bourses on the fourth working day of the week, June 7, ended with price index hikes & turnover drops.
This information is known from DSE sources.
782 crores 80 lakh shares were traded on this day. 304 crore 8 lakhs less trading was done in DSE today compared to the previous workday, 6 June, Shares worth Tk 1 thousand 86 crore 88 lakh shares were traded last time, Tuesday.
The benchmark index DSEX gained 22.79 points or 6,338. The Shariah-based index DSES added 3.04 points or 1,375, and the blue-chip index DS30 hiked 0.47 points or 2,189.
Of the issues traded, 123 advanced, 47 declined, and 178 remained unchanged.
Bangas Limited ranked top gainer on DSE, the share price increased by Tk 13.3 paisa or 10.00 percent. On this day, the share was last traded at Tk 146.30 paisa
Simtex Industries Ltd ranked top loser on the DSE, the share price dropped by Tk 1.60 paisa or 6.81 percent. On this day, the share was last traded at Tk 21.90 paisa.
DSE topped on trade is Meghna Life Insurance Co. Ltd 58 crore 2 lakh takas of shares of the company have been traded.
A total of 86 companies shares were traded in the Block on Dhaka Stock Exchange,88 lakh 10 thousand 362 shares of the companies were traded. The financial value of which is 48 crore 22 lakh taka.
/NR
Dhaka Stock Exchange (DSE) Chairman, Dr. Hafiz Muhammad Hasan Babu, announced his intention to attract Japanese investments to the stock market in the near future.
He made these remarks during a budget-related press conference held at a hotel in the capital city on Tuesday (June 6). Dr. Hasan emphasized the importance of actions rather than mere words, expressing his desire to demonstrate progress through tangible outcomes. He shared his numerous aspirations for the DSE and emphasized the need for collaboration to realize people’s dreams. This collaboration would require not only the government’s support but also the assistance of journalists.
Furthermore, Dr. Hasan mentioned the need to provide uninterrupted income from bonds, as the bond market is currently facing obstacles, partly due to taxes. He expressed the desire for a comprehensive evaluation of taxes as a final measure to ensure stability. Dr. Hasan also highlighted the importance of reducing the corporate tax rate for listed and non-listed companies by 10% compared to the dividend tax rate. Additionally, he proposed reducing the VAT rate from 15% to 10%.
Dr. Hasan reassured that despite any disappointment surrounding the budget, there is a strong willingness to take proactive steps in the stock market. These steps aim to restore people’s confidence in the market. The press conference was attended by Rubaba Dowla, the Independent Director of Dhaka Stock Exchange, and Professor Abdullah Al Mamun, among other officials from DSE.
Dhaka Stock Exchange DSE, Bourses on the third working day of the week, June 6, ended with price index & turnover drops.
This information is known from DSE sources.
1 thousand 86 crores 88 lakh shares were traded on this day. 169 crore 80 lakhs less trading was done in DSE today compared to the previous workday, 4 June, Shares worth Tk 1 thousand 256 crore 68 lakh shares were traded last time, Monday.
The benchmark index DSEX dropped 40.10 points or 6,316. The Shariah-based index DSES lost 10.00 points or 1,372, and the blue-chip index DS30 dropped 9.47 points or 2,188.
Of the issues traded, 25 advanced, 157 declined, and 182 remained unchanged.
Trust Islami Life Insurance Limited ranked top gainer on DSE, the share price increased by Tk 5.40 paisa or 9.96 percent. On this day, the share was last traded at Tk 59.60 paisa
Mir Akhter Hossain Ltd ranked top loser on the DSE, the share price dropped by Tk 6.00 paisa or 10.00 percent. On this day, the share was last traded at Tk 54.00 paisa.
DSE topped on trade is Associated Oxygen Ltd 52 crore 94 lakh takas of shares of the company have been traded.
A total of 378 companies shares were traded in the Block on Dhaka Stock Exchange, 1 crore 17 lakh 23 thousand 483 shares of the companies were traded. The financial value of which is 63 crore 59 lakh taka.
/NR
