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Ten most-traded stocks grab one-fourth turnover

Anwar Galvanizing leads the DSE chart

FE REPORT | June 30, 2022 00:00:00

Ten-most traded stocks grabbed one-fourth transactions of the Dhaka Stock Exchange (DSE) Wednesday while Anwar Galvanizing topped the turnover list.

Anwar Galvanizing, a concern of Anwar Group, became the day's top turnover issue after a long time as investors showed their buying interest on its shares after impressive earnings growth, a stockbroker said.

According to available data with the DSE, some 831,957 shares of Anwar Galvanizing were traded, generating a turnover of more than Tk 343 million, which was 4.26 per cent of the day's total transaction.

The company's share closed at Tk 412.80 on Wednesday, losing slightly by 0.02 per cent over the previous day.

The company's stock price, however, soared 17 per cent or Tk 62.40 each in the last one month. Its shares traded between Tk 195.10 and Tk 483 in the last one year.

Market insiders said investors showed their buying appetite for Anwar Galvanizing shares in the recent weeks as the company reported an impressive earnings growth in the latest quarters.

The company's earnings per share (EPS) jumped 328 per cent to Tk 2.10 (Restated) for January-March 2022 quarter compared to the same quarter last year.

Its nine months EPS also soared 342 per cent to Tk 8.53 for July 2021 to March 2022 as against Tk 1.93 for July 2020 to March 2021.

Anwar Galvanizing, which was listed on the Dhaka bourse in 1996, disbursed 20 per cent cash and 10 per cent stock dividend for the year 2021. In 2020, it provided 10 per cent cash and 5.0 per cent stock dividend.

Anwar Galvanizing is the country's first and leading manufacturer of galvanized iron-pipe fittings (GI Fittings), and brake drums. The company is the pioneer in exporting galvanized corrugated sheets, according to its website.

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