News Briefs (2022-06-14)
Tuesday, 14 June 2022
Sell confirmation
Intraco Refueling Station: Intraco CNG Ltd, a placement holder of the company where Mr. Mohammed Riyadh Ali, Monowara Hakim Ali and Mohammed Irad Ali are the sponsor directors and sponsors respectively of Intraco Refueling Station Limited and also the Managing Director, Chairman and Director of Intraco CNG Ltd.), has further reported that it has completed its sell of 42,98,158 shares of the company at prevailing market price through Stock Exchange as per declaration disseminated on 24.04.2022.
EGM Notice
Dragon Sweater & Spinning Ltd: The board of directors has decided to hold an EGM for amalgamation of the company with Dragon Sweater Bangladesh Limited. In this regard an amalgamation scheme has been prepared. The board approved the amalgamation scheme subject to approval of the High Court Division of the Supreme Court of Bangladesh. The EGM will be held on July 26, 2022, at 11:00 AM, on a digital platform, Record Date for EGM is June 30, 2022.
Withdrawal of authorised
representative
Investment Promotion Services Limited: The company (DSE TREC No. 158) has withdrawn one of its authorised representatives Ms. Anwera Islam with immediate effect.
— DSE/CSE Online
Indian shares dip
BENGALURU, June 13: Indian shares sank more than 2.5% on Monday and the rupee hit an all-time low as growing fears of aggressive policy tightening by the U.S. Federal Reserve roiled investor sentiment in the run-up to domestic inflation data. The NSE Nifty 50 index (.NSEI) ended down 2.6% at 15,774.4, its lowest level since July 2021, while the BSE index (.BSESN) fell 2.7% to 52,846.7. All eyes were on inflation data due later in the day. The consumer price index likely slipped modestly in May, but stayed well above the Reserve Bank of India's upper tolerance limit for a fifth consecutive month, according to a Reuters poll. "The Indian market's valuations continue to be uninspiring, especially of consumption sectors and 'quality' stocks," said Shrikant Chouhan, head of equity research (retail) at Kotak Securities. "Financials remain one of the few patches with reasonable valuations, but they too will struggle if India's macro-economic position was to deteriorate further."
— Reuters