Stocks
Shakib Al Hasan not found involved in Stock Manipulation: BSEC
Bangladesh Securities and Exchange Commission (BSEC) has fined several investors and institutions for their involvement in share manipulation.
However, BSEC affirmed, that the stock market has found evidence that the world’s best all-rounder Shakib Al Hasan, the goodwill ambassador of the capital market and investment education program, is not involved in this manipulation.
According to sources, the name of Shakib Al Hasan and his organization came in the report of the investigation committee formed to find those involved in the manipulation of several companies. However, Shakib and his company have been cleared of involvement in share manipulation.
According to the commission, many people are put on the suspect list for gathering information during the investigation process. But not all of them will be involved in manipulation. By multiple checks, those actually involved in share manipulation. They have been identified and fined. And the investigation has proved that some people including Shakib Al Hasan are not involved in share manipulation.
BSEC Executive Director and Spokesperson Mohammad Rezaul Karim told that a preliminary list was prepared of those who bought a certain amount of shares. Shakib Al Hasan’s name was there. But according to this preliminary list, when the investigation was conducted, Shakib Al Hasan’s involvement in the share manipulation was not found, so he was exonerated.
In response to a question, the spokesperson of BSEC said that Shakib Al Hasan is the goodwill ambassador of BSEC. Many media have presented news involving Shakib Al Hasan to gain readers. However, his involvement in share manipulation was not found in the investigation.
Meanwhile, Shakib’s family and the Bangladesh Cricket Board (BCB) are also embarrassed by the news of his involvement in the rigging. On Tuesday, September 13, Nazmul Hasan Papon addressed the media regarding the tri-series and T20 World Cup team plans in Mirpur. BCB boss was ‘shocked’ after hearing questions about Shakib’s involvement in share manipulation. He said, ‘What do you say! I do not know about this. Since it is not with cricket, now what do I do? I don’t know about this. If it was with cricket then there was talk.
It should be noted that BSEC nominated the world’s best all-rounder Shakib Al Hasan as a brand ambassador in September 2017 to enhance the image of the country’s capital market and inspire investors. The International Organization of Securities Commission (IOSCO) has requested to take famous politicians, professionals, sportspersons or celebrities of the country as goodwill ambassadors.
As part of this, the commission took Shakib Al Hasan as a goodwill ambassador. As a goodwill ambassador, he also invested in the capital market as he was eager to carry out the responsibility of a nationwide investment education program. Recently he bought the license of a share trading house called Monarch Holding. This is how Shakib got involved in the share business.
According to BSEC information, various individuals and their associates manipulated the share prices of 7 companies from mid-last year to March this year. Ordinary investors suffered huge losses. The investigation revealed that the manipulation circle made a profit of Tk 137 crore through these shares. Considering the overall aspect, the BSEC fined the accused person and their associates Tk 10 crore 89 lakh.
Dhaka Stock Market DSE, Bourse on the last working day of the week, 25th July, ended with a hike in Indices and Turnover from the previous working session. This information is known from DSE sources.
497 crore 34 lakh taka shares were traded on this day. 337 crore 97 lakh more tradings were done in DSE today compared to the previous workday, July 24th, Shares worth Tk 159 crores 37 lakh shares were traded last time, Wednesday.
The benchmark DSEX increased 62.81 points or 5,413 The Shariah-based index DSES added 13.81 points or 1,183 and the blue-chip index DS30 gained by 24.25 points or 1,932.
Of the issues traded, 286 advanced, 66 declined and 40 remained unchanged.
Techno Drugs Limited ranked top gainer on DSE, the share price increased by Tk 3.80 paisa or 9.87 percent. On this day, the share was last traded at Tk 42.30 paisa.
Rangpur Foundry Limited ranked top loser on the DSE, the share price dropped by Tk 5.40 paisa or 2.98 percent. On this day, the share was last traded at Tk 175.70 paisa.
DSE topped on trade is Square Pharmaceuticals PLC 35 crore 9 lakh takas of company shares have been traded.
A total of 28 companies’ shares were traded in the Block on Dhaka Stock Exchange. A total of 82 lakh 94 thousand 29 shares of the companies were traded. The financial value of which is 21 crore 92 lakh taka
One of the listed companies, Eastland Insurance Company Limited discloses its financial reports for the second quarter, (April – June 24).
The company’s earnings per share (EPS) Tk 0.27 paisa in Q2 of the current financial year (April – June 24). EPS was Tk. 0.41 for January-June 2024 as against Tk. 1.47 for the same period last year. EPS was Tk 0.80 paisa during the same period last year. NAV per share was Tk. 20.85 as of June 30, 2024.
One of the listed companies, Shahjalal Islami Bank PLC discloses its financial reports for the second quarter, (April – June 24).
The company’s Consolidated earnings per share (EPS) Tk 1.50 paisa in Q2 of the current financial year (April – June 24). Consolidated EPS was Tk. 1.50 for January-June 2024 as against Tk. 1.47 for the same period last year. EPS was Tk 0.80 paisa during the same period last year. Consolidated NAV per share was Tk. 20.85 as of June 30, 2024.
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