Stocks
Rupali Bank’s Authorized Capital Set to Surge by Tk 1800cr
Rupali Bank PLC has obtained approval to increase its approved capital to 1800 crore taka or triple its previous amount. This information was revealed by a source to Dhaka Stock Exchange on Sunday (March 24). According to the source, the bank has received approval from the Ministry of Finance to enhance its approved capital through the issuance of ordinary shares, raising it from 1800 crore taka to 2500 crore taka. The approval was granted by the Ministry of Finance on Thursday (March 20).
Rupali Bank PLC has achieved record-breaking financial performance in 2023 through the enhancement of service quality, efficient recovery of delinquent loans, and distribution of loans with diversity. The bank has set new records in all economic indicators, including profits. It has attained unprecedented success in areas such as the recovery of delinquent loans, expansion of deposits, loan distribution, opening of new accounts, reduction of local branch costs, and automated operations.
Among the 35 listed banks in the stock market in the first nine months of last year, Rupali Bank PLC has experienced the highest cash flow or Effective Net Operating Cash Flow (NOCFPS). The cash flow of this state-owned bank, along with 22 other banks, has increased from January to September.
Among the banks, Rupali Bank PLC has experienced the highest increase in cash flow per share at the end of the financial year. The company’s cash flow per share stood at Tk 116.54 for the three quarters or nine months (January-September ’23), compared to losses of Tk 69.58 during the same period last year. This signifies an increase of Tk 186.12 per share. In 2022, the bank’s operational profit was Tk 106 crore, whereas at the end of 2023, the operational profit of the bank has exceeded Tk 700 crore. Rupali Bank PLC, the only bank listed on the stock exchange under state ownership, has seen a more than 7-fold increase in operational profit by the end of the year.
Asif Mahmood, Chairman of ADN Telecom Ltd., extends a warm welcome to Shibli Rubayat-Ul-Islam, Chairman of the Bangladesh Securities and Exchange Commission (BSEC), on his reappointment.
Md. Maruf, serving as an Independent Director at ADN Telecom Ltd., and Md. Mostafijur Rahman, Assistant Manager at ADN Telecom Ltd., were also in attendance at the event. This occasion served as an opportunity for industry leaders to express their support for Shibli Rubayat-Ul-Islam’s continued leadership at the BSEC, highlighting his contributions to the regulatory landscape of Bangladesh’s securities market.
Furthermore, Asif Mahmood emphasized the importance of stability and continuity in regulatory leadership for fostering investor confidence and promoting sustainable growth in the securities sector. He expressed optimism about the future initiatives under Shibli Rubayat-Ul-Islam’s guidance, aimed at further strengthening the country’s capital markets.
The reappointment of Shibli Rubayat Ul Islam as Chairman of BSEC comes at a critical juncture, as Bangladesh’s securities market continues to evolve and expand, with increasing participation from domestic and international investors.
Dhaka Stock Exchange DSE, Bourse on the first working day of the week, 12th May, ended with a drop in Indices and hike in Turnover from the previous working session. This information is known from DSE sources.
985 crore 88 lakh taka shares were traded on this day. 74 crore 50 lakh more tradings were done in DSE today compared to the previous workday, 9th May , Shares worth Tk 911 crores 37 lakh shares were traded last time, Thursday.
The benchmark DSEX added 35.67 points or 5,696 The Shariah-based index DSES gained 7.89 points or 1,250, and the blue-chip index DS30 increased by 11.36 points or 2,026.
Of the issues traded, 93 advanced, 258 declined and 41 remained unchanged.
Padma Life Insurance Limited ranked top gainer on DSE, the share price increased by Tk 2.50 paisa or 10 percent. On this day, the share was last traded at Tk 27.50 paisa. Also Trust Islami Life Insurance ranked top gainer on DSE, the share price increased by Tk 4.40 paisa or 10 percent. On this day, the share was last traded at Tk 48.40 paisa
GQ Ballpen Industries Limited ranked top loser on the DSE, the share price dropped by Tk 4.3 paisa or 2.99 percent. On this day, the share was last traded at Tk 139.20 paisa.
DSE topped on trade is Asiatic Laboratories Limited 47 crore 6 lakh takas of company shares have been traded.
A total of 47 companies’ shares were traded in the Block on Dhaka Stock Exchange. A total of 66 lakh 66 thousand 55 shares of the companies were traded. The financial value of which is 41 crore 29 lakh taka
The Dhaka Stock Exchange (DSE) and the DSE Brokers Association (DBA) have expressed gratitude towards Prime Minister Sheikh Hasina for her directive to list government companies in the capital market, a move hailed as timely and positive.
The directive was issued during the recent meeting of the Executive Committee of the National Economic Council (Ecnec) last Thursday.
Dr. Hafiz Muhammad Hasan Babu, Chairman of DSE, described the directive as a significant step towards enhancing the dynamics of the capital market. He emphasized that besides invigorating the capital market, this move would also attract foreign investment and promote sustainable development.
Despite previous efforts, government institutions had not been listed in the stock exchange, according to a notification issued by the DSE. The Prime Minister’s directive is seen as a pivotal step towards revitalizing and expanding the economy.
Dr. Babu further remarked, “The listing of reputable companies in the capital market, as directed by the Prime Minister, will greatly benefit the country’s economy. It will also enhance investor confidence.”
Similarly, the DBA released a notification applauding the Prime Minister’s directive, terming it as positive and timely for the capital market.
Saiful Islam, President of DBA, expressed optimism about the directive’s potential to accelerate the country’s capital market and overall economy. He pledged support to relevant government departments and regulatory bodies in implementing the directive, ensuring its positive impact on the economy, including the capital market.
