Loading...
The Financial Express

Grameenphone tops DSE transaction chart

Investors concentrate on fundamentally-sound shares


FE Report | Published: December 22, 2017 10:34:34 | Updated: December 25, 2017 11:06:19


GP tops DSE transaction chart

The largest market capitalisation listed company Grameenphone (GP) dominated the Dhaka bourse's transaction chart on Thursday as the top 10 traded companies accounted for 25 per cent of the turnover.

Brokers said investors concentrated mostly on shares of the lone listed company from the telecommunication sector throughout the whole session amid optimism.

They said as the market went through a correction phase, a section of investors set sight on fundamentally-sound stocks like GP, Square Pharmaceuticals and Brac Bank to safeguard their investments.

According to statistics available with the DSE, about 360,340 shares of GP were traded, generating a turnover of Tk 166 million, which was 4.51 per cent of the premier bourse's total transactions.

Recently, the board of directors of GP recommended interim cash dividend for the year 2017 at the rate of 105 per cent. It accounts for 98 per cent of the profit after tax for the half year ended on June 30, 2017.

The company also posted 7.95 per cent growth in earnings per share (EPS) in the third quarter (Q3), July-September, 2017. The EPS for the period was Tk 5.16 against Tk 4.78 for July-September, 2016.

In nine months from January to September last, the EPS was Tk 15.88 against Tk 12.70 of the corresponding period of the last calendar year.

The state-run National Tubes emerged the second highest turnover leader with 946,844 shares of the company traded, generating a turnover of Tk 128 million.

"The company's recent decision to establish a galvanising plant to provide services for different types of towers for mobile companies, encouraged investors to take position on its shares," a stockbroker said.

The company expects to earn approximately Tk 70 million per year by providing galvanizing services.

However, the company's share price closed at Tk 133.80, falling 0.22 per cent over the previous day.

Brac Bank notched the third spot, with shares worth Tk 108 million changing hands. The bank's share price fell 0.09 per cent to close at Tk 106.

Square Pharmaceuticals emerged fourth with shares worth Tk 103 million changing hands. The second largest market-cap company's share price closed at Tk 300.70, advancing 0.37 per cent from that of the previous session.

The fifth position was secured by the City Bank with a turnover of Tk 81 million. The bank's share price fell 1.49 per cent to close at Tk 52.90.

Lafarge Surma Cement was also included in the top 10 turnover list with shares worth Tk 78 million changing hands. The multinational cement producer's share price soared 5.64 per cent to close at Tk 54.30.

It was followed by Rupali Life Insurance with Tk 73 million, Alif Manufacturing Company Tk 70 million, AB Bank Tk 64 million and Aamra Networks Tk 60 million.

babulfexpress@gmail.com

Share if you like