Ten firms grab one-fourth of weekly turnover

Best Holdings, which made its trading debut on February 6, became the most-traded stock in the outgoing week, as investors showed 'over enthusiasm' for the new issue in anticipation of short-term gain.
Meanwhile, ten most-traded firms accounted for over 25 per cent of the week's total turnover of Tk 74.40 billion on the Dhaka Stock Exchange (DSE).
According to the DSE data, some 68.11 million Best Holdings shares were traded during the week, generating a turnover of Tk 2.95 billion, which was 4 per cent of the week's total turnover.
The total number of shares of the company is 1.05 billion while market-cap is Tk 10.52 billion.
Market operators said the investors showed their appetite for the new issue amid short-term speculation. Best Holdings is the 5th listed company under the 'Travel & Leisure' sector.
The company's stock price soared more than 28 per cent during the week to close at Tk 40.9 on Thursday.
The investors chased its shares, buoyed by its promising business outlook, said a leading broker.
Best Holdings' half-yearly profit grew 38 per cent year-on-year to Tk 717 million in July-December 2023, up from Tk 520 million in the same period a year before.
Best Holdings, the owning company of Le Meridien Dhaka, raised Tk 3.50 billion from the stock market under the book-building method.
The cut-off price of its IPO shares was Tk 35 but the general investors, including non-resident Bangladeshis, got at Tk 24 each, a 30 per cent discount on the cut-off price.
Best Holdings is constructing a five-star hotel named Marriott Bhaluka, a chain of Marriott International Inc USA, located 50-kilometre north of the Hazrat Shahjalal International Airport.
Orion Infusion came second on the turnover chart, with shares worth Tk 2.77 billion changing hands. Its stock closed at Tk 667, rising 0.86 per cent over the previous week.
The stock price of Orion Infusion also kept soaring once again as the company's shares jumped 53 per cent in a month to close at Tk 667 on Thursday.
Orion Pharma, another firm of Orion group, clinched the third spot, with shares worth Tk 2.27 billion changing hands. The drug maker's share closed at Tk 84.7, rising 3.55 per cent over the previous week.
Fortune Shoes emerged as fourth, with shares worth Tk 1.97 billion changing hands. The shoe maker's share price advanced 0.33 per cent to close at Tk 60.2 on Thursday.
IFIC Bank notched the fifth spot, with shares worth Tk 1.85 billion changing hands. The bank's stock price fell 4.30 per cent to close at Tk 13.4 on Thursday.
Turnover of Fu-Wang Ceramic was Tk 1.69 billion. The ceramic maker's stock price rose 11 per cent to close at Tk 26 on Thursday.
Malek Spinning Mills featured a turnover of Tk 1.49 billion. The company's share closed at Tk 36.8, losing 5.4 per cent over the week before.
The turnover of Central Pharma was Tk 1.43 billion. The pharma company's share price plunged 9.12 per cent to close at Tk 26.9 on Thursday.
Bangladesh Shipping Corporation featured a turnover of Tk 1.42 billion. The shipping corporation's stock closed at Tk 129.1, gaining 5.4 per cent.
IT Consultants also made its way to the week's top turnover chart, with shares worth Tk 1.33 billion changing hands. The company's share rose 5.76 per cent to close at Tk 56.9 on Thursday.

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