United Power generates highest turnover for second day

Ten most traded companies accounted for 36 per cent of transactions on the Dhaka Stock Exchange (DSE) on Wednesday, with the United Power Generation & Distribution Company bagging the top spot of the turnover chart for the two consecutive sessions.
Market analysts said investors continued to show their appetite for the United Power shares, as the company recommended a healthy dividend for the year ended on June 30, 2019.
The power generation company has recently recommended 130 per cent cash and 10 per cent stock dividend for the year ended on June 30, 2019. The record date is September 8.
The United Power and its major shareholder United Mymensingh Power recently executed an agreement with an international private equity group for an investment of Tk 8.5 billion (approximately US$100 million), which also encouraged investors, said a leading broker.
According to DSE data, about 1.70 million shares of United Power were traded, generating a turnover of Tk 678 million, which was 12.50 per cent of the total turnover.
The total turnover on the DSE stood at Tk 5.42 billion on Wednesday, up from Tk 4.73 billion in the previous session.
The company's share closed at Tk 401.10 each, gaining 1.70 per cent over the previous day.
The United Power, listed on the DSE in April 2015, disbursed 90 per cent cash and 20 per cent stock dividends in 2018.
The company's paid-up capital is Tk 4.79 billion and authorised capital is Tk 8.0 billion while total number of securities is 479.08 million.
The sponsor-directors own 90 per cent stake in the company, while institutions own 6.54 per cent, foreign investors 0.04 per cent and the general public 3.42 per cent as of July 31, 2019, the DSE data show.
Orion Infusions came second on the turnover chart, with shares worth Tk 233 million changing hands. The company's share price advanced 2.67 per cent to close at Tk 69.20 each.
Fortune Shoes clinched the third spot, with shares worth Tk 215 million changing hands. The company's share closed at Tk 41.40 each, gaining 3.24 per cent.
JMI Syringes emerged fourth, with shares worth Tk 179 million changing hands. The company's share rose 1.74 per cent to close at Tk 503.30 each.
Bangladesh Shipping Corporation notched the fifth spot, with shares worth Tk 121 million changing hands. The state-run company's share closed at Tk 55.10 each, losing 2.82 per cent.
The turnover of Monno Ceramic was Tk 117 million. The company's share price advanced 0.83 per cent to close at Tk 217.90.
Beacon Pharma featured a turnover of Tk 115 million. The company's share closed at Tk 24.90 each, losing 1.58 per cent over the previous day.
The turnover of Khulna Power was Tk 111 million. The company's share price fell 2.37 per cent to close at Tk 57.60 each.
Silco Pharma featured a turnover of Tk 96 million. The company's share closed at Tk 31, advancing 0.98 per cent.
Al-Haj Textile Mills also made its way to the top 10 turnover chart, with shares of nearly Tk 75 million changing hands. The company's share price advanced 2.78 per cent to close at Tk 73.90 each.

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