The prices of fuel & power stocks suffered losses between 5.0 per cent and 46 per cent in past one year as the market outlook was depressed during the year.
Of the 19 companies listed in the sector, prices of 17 firms witnessed price erosion while two saw slightly higher in the last one year between March 25, 2019 and March 25, 2020, according to statistics available with the Dhaka Stock Exchange.
Market analysts said the market has been in a downward trend since last year due to low confidence of investors, liquidity crunch, soaring bad loans, falling portfolio investment and coronavirus scare.
The power sector accounts for more than 14 per cent of DSE's total market capitalisation.
The most sought-after securities like United Power, MJL Bangladesh and state-run power companies were not even spared from the relentless fall in the share prices during the year under review.
In the past one year until March 25, 2020, DSEX, the prime index of the bourse, lost 1,522 points or 27.5 per cent to settle at 4,008 on March 25, the last trading session before the government holiday.
Of the listed power companies, Intraco Refueling Station witnessed the highest price erosion, losing 46 per cent during the year under review to close at Tk 12.70 on March 25, 2020.
The share price of heavyweight United Power Generation & Distribution Company slumped nearly 45 per cent during the year to close at Tk 222.20 on March 25, 2020.
The state-run Eastern Lubricants also witnessed 43 per cent price erosion in the past one year to close at Tk 804.20 each on March 25, 2020, the DSE data showed.
The share price of Baraka Power also saw 34 per cent price fall in the past one year under review to close at Tk 19.90 each.
The Chittagong-based CVO Petrochemicals Refinery witnessed 32 per cent price correction in the past one year to close at Tk 115.40 each.
The share price of Doreen Power Generations and Systems also fell 31.8 per cent to close at Tk 57.10 each on March 25.
The state-run Power Grid Company of Bangladesh also saw 31.6 per cent price fall to close at Tk 40.40 each on March 25, 2020.
The share price of MJL Bangladesh also witnessed 30 per cent price correction to close at Tk 65.30 each on March 25.
The state-run Padma Oil Company and Jamuna Oil Company also dipped 28.5 per cent and 26 per cent respectively.
The share price of Khulna Power also witnessed 24.5 per cent price fall during the year under review to close at Tk 45.30 each on March 25.
The Meghna Petroleum also lost more than 22 per cent during the year under review to close at Tk 157.80 each on March 25.
The Shahjibazar Power Company also saw 21.6 per cent price erosion in the past one year to close at Tk 72 each on March 25.
The state-run Titas Gas Transmission & Distribution Company also lost nearly 21 per cent of its share price in the past one year to close at Tk 29.90 each.
Sumit Power and BD Welding also lost 10.72 per cent and 5.0 per cent respectively in the last one year.
On the other hand, share prices of GBB Power and Linde Bangladesh advanced marginally during the year.
The GBB Power's share rose 24 per cent to close at Tk 12.40 and the Linde Bangladesh's share advanced 1.35 per cent to close at Tk 1239 each on March 25, 2020.
© 2024 - All Rights with The Financial Express
