National Tubes atop DSE transaction chart

The state-run National Tubes dominated the Dhaka bourse's transaction chart Wednesday while top 10 traded companies captured more than 24 per cent of the total turnover.

Brokers said the investors were active on National Tubes shares throughout the trading session ahead of Annual General Meeting (AGM) scheduled to be held on Sunday next.

The board of directors of the company recommended 10 per cent stock dividend for the year ended on June 30, 2017.

"The company's recent decision to establish a galvanising plant to provide services to different types of towers for mobile companies, encouraged investors to take position on its shares," a stockbroker said.

The company expected that approximately Tk 70 million per year will come from galvanising.

According to statistics available with the DSE, about 1.37 million shares of National Tubes were traded, generating a turnover of Tk 184.38 million, which was 3.60 per cent of the premier bourse's total transaction.

The company's share price hovered between Tk 128.90 and Tk 135.90, before closing at Tk 134.10 each, advancing 3.15 per cent over the previous session. The company's share price traded between Tk 100.10 and Tk 159 each in the last one year.

National Tubes has reported earnings per share (EPS) of Tk (1.21) for July-September, 2017 as against Tk (1.43) for July-September, 2016.

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