Some MNCs keep rallying

Mohammad Mufazzal | Published: February 11, 2019 10:35:54 | Updated: February 11, 2019 16:21:42


Some listed multinational companies (MNCs) have witnessed a continuous rise in their share prices over the last 10 sessions.

The share prices rose as high as 34.73 per cent from January 27 to February 10 on the Dhaka Stock Exchange (DSE).

LafargeHolcim Bangladesh, however, bucked the trend as it saw price correction during the period.

Of the MNCs, Berger Paints Bangladesh posted the highest gain, followed by Renwick Jajneswar & Company (BD), Marico Bangladesh, Glaxo SmithKline, and Singer Bangladesh.

A market operator said the share prices of some MNCs edged up as they are awaiting dividend declarations for the year ending on December 31, 2018.

However, some MNCs' year-end dates are June 30 and March 31.

"The companies' earnings for October-December 2018 rose moderately, compared to the same period of the previous year," a merchant banker said.

Mohammad Ali, a director of DSE Brokers Association, said the rise of foreign investments in the MNCs might have caused their share prices to surge.

However, another merchant banker declined to make comments, saying that the recent price trend of the MNCS is not clear to him.

The share of Berger Paints Bangladesh closed at Tk 1413.90 each on January 27 last.

Its price reached Tk 1905 on Sunday, registering a rise of 34.70 per cent over the 10 days.

The company reported its consolidated EPS of Tk 11.90 for October-December 2018 as against Tk 9.35 for October-December 2017.

Renwick Jajneswar & Company (BD) has posted a 19.46 per cent gain between January 27 and February 10. The company's share price closed at Tk 1231.10 on Sunday.

The company's EPS climbed 91.73 per cent to Tk 2.32 for October-December, 2018 compared to same period of the previous year.

The share price of Marico Bangladesh closed at Tk 1229.80 each on January 27 last. Its price surged to Tk 1464.80 on Sunday, marking a rise of 19.10 per cent.

The company reported its EPS of Tk 16.47 for October-December 2018 as against Tk 11.18 for October-December 2017.

The share price of Glaxo SmithKline closed at Tk 1379.10 each on January 27 last. Its share price soared to Tk 1563.10 each on Sunday.

During the period from January 27 to February 10, the company's share price jumped 13.34 per cent.

Linde (BD) witnessed 10.59 per cent gain in share price over the last 10 sessions. The company's share price closed at Tk 1335.80 each on Sunday.

Singer Bangladesh has posted a 7.32 per cent gain in 10 days. The company's share price closed at Tk 249.10 each on Sunday.

The share price of British American Tobacco Bangladesh Company closed at Tk 3460.10 each on January 27.

Its share price rose 7.20 per cent to close at Tk 3709.40 on Sunday.

The share of Heidelberg Cement Bangladesh witnessed 6.22 per cent gain, followed by Grameenphone (3.17 per cent).

The Grameenphone witnessed ups and downs in its share price.

The share price of LafargeHolcim Bangladesh declined 8.31 per cent during the 10 days to close at Tk 41.90 on Sunday.

mufazzal.fe@gmail.com

Share if you like