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Ten cos grab 25pc transactions on DSE

Sonali Aansh's share rising sans PSI

FE Report | December 07, 2018 00:00:00

The ten most traded companies captured more than 25 per cent of the turnover of the prime bourse on Thursday, with Dragon Sweater and Spinning topping the list.

According to statistics available with the Dhaka Stock Exchange (DSE), about 7.58 million shares of Dragon Sweater were traded, generating a turnover of Tk 196 million, accounting for 3.82 per cent of the total turnover.

Market operators said Dragon Sweater topped the turnover chart riding on the sale of sponsor-directors' shares.

On Wednesday, Mostafa Quamrus Sobhan, one of the sponsor-directors of the company, announced his intention to sell 2.30 million bonus shares at the prevailing market price.

Mr. Sobhan also disposed of 1.50 million bonus shares last month.

On Thursday, each share of the company closed at Tk 25.50, losing 4.49 per cent over the previous day.

Its share traded between Tk 16.60 and Tk 51.30 in the last one year.

The company disbursed 5.0 per cent cash dividend and 20 per cent stock dividend for the year ending on June 30, 2018. In 2017, the company paid 15 per cent stock dividend.

The company's earnings per share (EPS) stood at Tk 0.81 for July-September 2018 as against Tk 0.46 for the same period of 2017.

The company's paid-up capital is Tk 1.58 billion, authorised capital is Tk 3.0 billion and the total number of securities is 158.70 million.

The sponsor-directors own 37.81 per cent stake in the company while institutional investors own 22.54 per cent and the general public 39.65 per cent.

Saiham Cotton Mills grabbed the second position on the top ten list, with shares worth Tk 187 million changing hands.

The company's share price closed at Tk 27.60 each, advancing 1.02 per cent over the previous day.

ML Dyeing clinched the third spot, with shares worth Tk 157 million changing hands. The company's share price fell 3.39 per cent to close at Tk 45.60.

The United Power emerged fourth, with shares worth Tk 127 million changing hands. The power generation company's share price closed at Tk 291.90, advancing 2.13 per cent.

Intech notched the fifth spot, with shares worth Tk 125 million changing hands. The IT company's share price soared 7.50 per cent to close at Tk 58.50 each.

BBS Cables also make it to the top ten turnover chart, with shares of Tk 118 million changing hands, followed by Shepherd Industries (Tk 106 million), Sonali Aansh Industries (Tk 95 million), Western Marine Shipyard (Tk 89 million) and Indo-Bangla Pharma (Tk 88 million).

Meanwhile, the share price of Sonali Aansha Industries continued to soar 'abnormally' in a bearish market despite having no price sensitive information (PSI).

Within one month, the company's share price jumped 143 per cent or Tk 430 each to close at Tk 730.30 on Thursday.

The company's share price was Tk 300.30 just a month ago on November 07.

Its share traded between Tk 184.10 and Tk 731 in the last one year.

The prime bourse had served show-cause notices on the company several times.

The company, however, replied that there was no undisclosed price sensitive information for the recent unusual price hike of the shares.

"Even after being served show-cause notice, the price of the company has not stopped rising, which may cause the investors to face substantial losses," said an analyst.

He advised the investors to carefully invest in stocks after analysing the fundamentals of the companies.


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