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BD Thai Aluminium’s Share Price Surges 82% Amid Fiscal Challenges

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Bd. Thai Aluminium

In a surprising turn of events, the share price of Bangladesh Thai Aluminium, commonly known as BD Thai Aluminium, has experienced an impressive 82% surge within a month, reaching its highest point in a year. This remarkable increase comes even as the company faced fiscal challenges, reporting a loss of Tk6.60 crore in the 2022-23 financial year, with a 20% YoY drop in revenue to Tk93 crore.

As of Sunday’s trading session at the Dhaka Stock Exchange (DSE), BD Thai Aluminium’s shares closed at Tk23.3 each, securing the second position on the top gainers’ table with a notable 9.9% appreciation compared to the previous session.

Despite this upward trend, concerns have arisen, prompting the DSE to seek clarification from BD Thai Aluminium regarding the unexpected surge in share price. In response, the company stated that it possesses no undisclosed price-sensitive information that could have influenced its stock value.

In its annual report for the fiscal year 2022-23, BD Thai Aluminium’s Chairperson, Rubina Hamid, attributed the company’s challenges to the prevailing high inflationary environment, driven by factors such as the energy crisis, taka depreciation, and concerns about the adequacy of the dollar reserve.

BD Thai Aluminium’s acting Managing Director, Abdul Bari, acknowledged the difficulties faced by the company, citing global trends of elevated aluminum raw material prices and the impact of a higher dollar rate on import costs. He emphasized the challenges in maintaining consistent delivery to national and local projects.

Rubina Hamid, who holds a 2.34% stake in BD Thai, is the sister of Health Minister Zahid Maleque. The state-owned Investment Corporation of Bangladesh owns 14.97% of the company’s shares, while the health minister himself holds a 9.72% stake. Notably, the Maleque family recently divested their entire holdings in Sunlife Insurance to Green Delta Insurance.

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Indices Negative Amidst Turnover Hikes

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dse bourse indices turnover dhak stock exchange stock market

Dhaka Stock Market DSE, Bourse on the second working day of the week, 30th September, ended with a negative performance in Indices and a hike in Turnover from the previous working session. This information is known from DSE sources.

503 crore 90 lakh taka shares were traded on this day. 22 crore 58 lakh more tradings were done in DSE today compared to the previous workday, 29th September, Shares worth Tk 481 crores 31 lakh shares were traded last time, Sunday.

The benchmark DSEX lost 33.61 points or 5,624 The Shariah-based index DSES dropped 7.36 point or 1,263 and the blue-chip index DS30 decreased by 9.57 points or 2,053.

Of the issues traded, 72 advanced, 299 declined and 25 remained unchanged.

Shahjibazar Power Company Limited ranked top gainer on DSE, the share price increased by Tk 4.00 paisa or 9.76 percent. On this day, the share was last traded at Tk 45.00 paisa.

Dhaka Electric Supply Company Limited ranked top loser on the DSE, the share price dropped by Tk 1.80 paisa or 7.56 percent. On this day, the share was last traded at Tk 22.00 paisa.

DSE topped on trade is Pragati Life Insurance Limited 25 crore 35 lakh takas of company shares have been traded.

A total of 27 companies’ shares were traded in the Block on Dhaka Stock Exchange. A total of 1 crore 50 lakh 42 thousand 956 shares of the companies were traded. The financial value of which is 65 crore 60 lakh taka

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National Polymer Announce Their Dividends & Q2 Financials

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One of the Listed companies, National Polymer Limited has recommended 10.50% Cash Dividend for the year ended June 30, 2024.

It has reported Consolidated EPS of Tk 2.27 paisa, and Consolidated NAV per share of Tk 30.63 for the year ended March 31, 2024.

The Annual General Meeting (AGM) of the company will be held on December 18, through the digital platform. The record date for this has been fixed at October 22.

The Company also discloses its financial reports for the second quarter, (April – June 24).

As per the company’s consolidated life revenue account for April to June 2024, the excess of total income over total expenses, including claims (surplus), stood at Tk 1,394.24 million. This marks a significant increase from the surplus of Tk 823.68 million during the same period in 2023.

For the first half of 2024, from January to June, the company reported a surplus of Tk 2,177.57 million, compared to Tk 1,290.39 million in the corresponding period of the previous year.

Additionally, the Life Insurance Fund balance as of June 30, 2024, reached Tk 55,188.62 million, showing a net increase of Tk 5,892.25 million from Tk 49,296.37 million on June 30, 2023.

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Beacon Pharma Declares Their Dividends

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One of the Listed companies, Beacon Pharmaceuticals PLC has recommended 20% Cash dividend and 10% Cash Dividend to Sponsor Shareholder and Directors for the year ended June 30, 2024.

It has reported EPS of Tk 2.26 paisa, and NAV per share of Tk. 26.37 for the year ended June 30, 2024.

The Annual General Meeting (AGM) of the company will be held on December 23, through the digital platform. The record date for this has been fixed at October 27.

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