Fortune Shoes shines with highest turnover

Fortune Shoes dominated the turnover chart of the Dhaka bourse last week that ended on Thursday while ten most traded companies accounted for nearly 28 per cent of the total transactions.

Market analysts said investors' appetite for Fortune Shoes shares increased after it logged 41.25 per cent growth in earnings for July-December period of 2018.

The earnings per share (EPS) also rose to Tk 1.13 for July-December 2018 as against Tk 0.80 for the same period of 2017.

On Wednesday, the Credit Rating Information and Services Ltd. (CRISL) rated the Fortune Shoes as "A-" in the long term and "ST-3" in the short term along with a stable outlook.

The CRISL has ranked the company on the basis of its audited financials up to June 30, 2018, unaudited financials up to December 31, 2018 and relevant up-to-date quantitative as well as qualitative information.

According to statistics available with the DSE, about 65.72 million shares of Fortune Shoes were traded, generating a turnover of nearly Tk 2.41 billion, accounting for 5.91 per cent of the DSE's total turnover.

The total turnover on the DSE stood at Tk 40.78 billion last week, down from Tk 41.19 billion in the week before.

The shoe maker's share price closed at Tk 39.40 on Thursday, the last session of the week, soaring 24.68 per cent over the previous week.

The Fortune Shoes, listed on the DSE in 2016, disbursed 15 per cent stock dividends for the year ended on June 30, 2018.

The company's paid-up capital is Tk 1.24 billion, authorised capital is Tk 1.50 billion and the total number of securities is 124.93 million.

The sponsor-directors own 30.56 per cent stake in the company, while institutional investors 20.63 per cent and the general public 48.81 per cent as of January 31, 2109.

The United Power came in second, with shares worth Tk 2.33 billion changing hands. Its share closed at Tk 393.10 each on Thursday, losing 3.77 per cent over the previous week.

Monno Ceramic clinched the third spot, with shares worth Tk 1.44 billion changing hands. The company's share rose 5.16 per cent to close at Tk 332.20 each.

Bangladesh Submarine Cable Company emerged as the fourth with shares worth Tk 1.04 billion changing hands. Its share closed at Tk 150.80, shedding 2.14 per cent over the previous week.

Legacy Footwear notched the fifth spot, with shares worth Tk 720 million changing hands. The company's share price ended 6.91 per cent lower at Tk 202.10 each.

The turnover of Paramount Textile was Tk 698 million. The company's share price climbed 5.09 per cent to Tk 74.30 each.

Monno Jute Stafflers featured a turnover of Tk 697 million. The company's share closed at Tk 2,063.50 each, dipping 2.83 per cent week on week.

The turnover of Nurani Dyeing was Tk 677 million. The company's share closed at Tk 19.80 each, soaring 20 per cent.

Grameenphone featured a turnover of Tk 675 million. The largest market-cap listed company's share price fell 3.85 per cent to close at Tk 389.90 each.

The newly listed Genex Infosys also made its way to the top 10 turnover chart, with shares of Tk 660 million changing hands.

The company's share price closed at Tk 49.20, shedding 11.19 per cent over the week before.

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