Paramount Textile generates highest turnover
FE REPORT | Thursday, 1 October 2020
Ten most-traded stocks accounted for 26 per cent transactions on the Dhaka Stock Exchange (DSE) on Wednesday while Paramount Textile topped the turnover chart.
Share price of Paramount Textile also jumped more than 24 per cent in the just three straight sessions despite no undisclosed price sensitive information. Its share price was Tk 52.90 three days ago on September 27.
The textile manufacturer's price closed at Tk 65.70 on the day, soaring further by 9.86 per cent over the previous day, according to statistics from the DSE.
According to available data with the DSE, some 7.68 million shares of the Paramount Textile were traded, generating a turnover of Tk 503 million, which was 5.50 per cent of the day's total turnover.
Market analysts said investors showed buying interest on Paramount Textile shares amid dividend expectation ahead as the company's earnings increased despite Covid-19 pandemic.
The company's earnings per share (EPS) stood at Tk 1.21 for January-March 2020 as against Tk 0.84 for January-March 2019.
In nine months for July 2019-March 2020, its EPS was Tk 3.82 as against Tk 1.94 for July 2018-March 2019.
Recently, the board of directors of the company declared 20 per cent cash dividend for the year ended on December 31, 2019.
The company disbursed 7.0 per cent cash and 9.0 per cent stock dividend for the year ended on June 30, 2019.
The company's paid-up capital is Tk 1.47 billion and authorised capital is Tk 2.0 billion while total number of securities is 147.69 million.
The sponsor-directors own 60.96 per cent stake in the company, while the institutional investors own 13.15 per cent, foreign investors 4.16 per cent and the general public 21.74 per cent as on August 31, 2020, the DSE data shows.
Bangladesh Export Import Company (Beximco) came second on the turnover chart, with shares worth Tk 277 million changing hands. The company's share price fell 2.80 per cent to close at Tk 24.30 each.