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Fortune Shoes tops weekly turnover chart

Ten cos account for 27pc transactions on DSE


FE Report | Published: May 18, 2019 10:32:46 | Updated: May 20, 2019 11:11:01


Ten most-traded companies accounted for over 27 per cent transactions on the Dhaka Stock Exchange (DSE) in the outgoing week, with the Fortune Shoes grabbing the top spot on the turnover chart.

Market insiders said investors continued to show their appetite for the shoemaker's stocks after the company reported a 35 per cent earnings growth for the January-March quarter of 2019.

The company's earnings per share (EPS) stood at Tk 0.54 for January-March 2019 as against Tk 0.40 for January-March 2018.

For the nine-month period from July 2018 to March 2019, the company's EPS was Tk 1.67 as against Tk 1.19 for the same period of the previous fiscal.

According to DSE data, some 19.48 million shares of Fortune Shoes were traded during the week, generating a turnover of more than Tk 733 million, making up 5.02 per cent of the DSE's total turnover.

The total turnover on the DSE stood at Tk 14.61 billion in the outgoing week, down from Tk 21.45 billion in the week before.

The shoemaker's share closed at Tk 37.80 on Thursday, the last trading day of the week, shedding 1.82 per cent over the previous week.

The company's share was traded between Tk 27.70 and Tk 40.40 in the last one year.

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

The company's paid-up capital is Tk 1.25 billion, authorised capital is Tk 1.50 billion and the total number of securities is 124.93 million.

The sponsor-directors own 30.93 per cent stake in the company, while institutional investors own 11.59 per cent and the general public 57.48 per cent as of April 30, 2019.

The Brac Bank came second on the turnover chart, with shares worth Tk 673 million changing hands. The bank's share closed at Tk 56.30 on Thursday, losing 7.55 per cent over the previous week.

The Bangladesh Shipping Corporation clinched the third spot, with shares worth Tk 394 million changing hands. The state-run company's share price fell 4.16 per cent to close at Tk 48.40 each.

The Power Grid Company emerged fourth with shares worth Tk 393 million changing hands. The company's share closed at Tk 61.10 each, losing 3.02 per cent.

Oimex Electrode notched the fifth spot, with shares worth Tk 310 million changing hands. The company's share price rose 3.29 per cent to close at Tk 34.50 on Thursday.

The turnover of Monno Ceramic was Tk 299 million. The company's share price closed at Tk 230.50, falling 2.54 per cent over the previous week.

Esquire Knit Composite featured a turnover of Tk 297 million. The company's share price plunged 9.20 per cent to close at Tk 46.40 each.

Square Pharmaceuticals featured a turnover of Tk 295 million. The second largest market-cap company's share closed at Tk 248.70 on Thursday, losing 3.45 per cent over the previous week.

The turnover of IFIC Bank was Tk 279 million. The bank's share price soared 11.21 per cent to close at Tk 11.90 each on Thursday.

Indo-Bangla Pharmaceuticals also made its way to the week's top 10 turnover chart, with shares of Tk 246 million changing hands. The company's share price fell 8.93 per cent to close at Tk 25.50 each on Thursday.

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