Meghna Life's price jumps 41 per cent in a month

Top ten traded companies captured more than 24 per cent turnover of the prime bourse on Tuesday.

Meghna Life Insurance Company topped the list.

According to statistics available with the Dhaka Stock Exchange, about 1.89 million shares of Meghna Life were traded, generating a turnover of Tk 154 million, which was 4.61 per cent of the DSE's total turnover.

The company's share traded between Tk 77.90 and Tk 82.70 during the day, before closing at Tk 80.50, advancing 4.61 per cent over the previous day.

Within one month, its share price jumped about 41 per cent or Tk 23.60 each, hitting the year's highest of Tk 82.70 on Tuesday.

In the last one year, the company's share price traded between Tk 50 and Tk 82.70 in the prime bourse.

Market insiders said a section of investors showed buying spree throughout the month on Meghna Life's share amid expectation as the company's life fund shows rising trend.

The company has reported increase in life revenue account for July-September, 2018 was Tk 84.34 million as against increase in Tk 60.93 million for July-September, 2017.

In nine months for January-September, 2018, increase in life revenue account was Tk 150.27 million with total life insurance fund of Tk 15,784.89 million as against increase in Tk 253.41 million and Tk 14,943.30 million respectively for the same period of previous year.

Meghna Life, which was listed on the DSE in 2005, disbursed 20 per cent cash dividend for the year ended on December 31, 2017.

The company's paid-up capital is Tk 335.22 million, authorised capital is Tk 600 million and the total number of securities is 33.52 million.

Sponsor-directors own 20.07 per cent stake in the company while institutional investors 38.35 per cent and the general public 41.58 per cent as on November 30, 2018.

United Power followed next, with shares worth Tk 112 million changing hands. The power generation company's share price closed at Tk 302.90 each, advancing 2.15 per cent over the previous day.

IFAD Autos clinched the third spot, with shares worth Tk 82 million changing hands. The company's share price fell 0.64 per cent to close at Tk 107.60 each.

Square Pharmaceutics emerged fourth with shares worth Tk 80 million changing hands. The company's share price closed at Tk 250.80, advancing 0.04 per cent.

Sonali Aansh Industries notched the fifth spot, with shares worth Tk 74 million changing hands. The company's share price plunged 5.52 per cent to close at Tk 619.30 each.

The turnover of Anlima Yarn Dyeing was Tk 64 million. The company's share price advanced 2.76 per cent to close at Tk 44.60 each.

Rupali Life Insurance featured a turnover of Tk 59 million. The company's share price closed at Tk 92.50 each, rising 3.35 per cent.

The turnover of Khulna Power was Tk 56 million. The company's share price fell 1.0 per cent to close at Tk 53.90 each.

VFS Thread Dyeing featured a turnover of Tk 53 million. The company's share price advanced 1.72 per cent to close at Tk 59.10 each.

Western Marine Shipyard was also included in the top turnover chart with shares of Tk 52 million changing hands. Its share price fell 4.68 per cent to close at Tk 20.10 each.

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