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JMI Syringe's share price jumps 60pc in 3-month

Ten companies snare 32pc transaction


FE Report | Published: August 08, 2019 11:43:27 | Updated: August 09, 2019 10:44:46


The share price of JMI Syringes soared 60 per cent or Tk 192 each in the past three months without having any undisclosed price sensitive information.

The medical devices manufacturer's share price soared 60 per cent or Tk 192 each in the past three months to close at Tk 513.40, after hitting one year's high on Wednesday.

The company's share traded between Tk 178.50 and Tk 519.90 each in the last one year.

Market analysts said the investors continued to show their appetite on JMI Syringes shares as Nipro Corporation, a Japanese medical equipment manufacturer, invested Tk 1.82 billion in JMI Syringes & Medical Devices to become its strategic partner.

The listed medical equipment manufacturer issued 11.1 million shares to Nipro Corporation at an offer price of Tk 164.10 per share with a premium of Tk 154.10.

The foreign investors also increased their holdings in JMI Syringes. Now the foreign investors hold 50 per cent shares in JMI Syringes, also highest among all listed companies, as of July 31, 2019.

Sponsor-directors hold 30.42 per cent stake in the company while the institutions 3.13 per cent and general public the remaining 16.22 per cent as of July 31, 2019, the DSE data shows.

Meanwhile, ten most-traded companies captured 32 per cent transactions of the Dhaka Stock Exchange (DSE) on Wednesday.

JMI Syringes topped the chart.

According to statistics available with the DSE, about 508,347 shares of JMI Syringes were traded, generating a turnover of Tk 257 million, which was 5.72 per cent of the day's total turnover.

The total turnover on the DSE stood at Tk 4.49 billion on Wednesday as against Tk 5.68 billion in the previous session.

The company's earnings per share (EPS) in nine months for July 2018-March 2019, was Tk 4.91 as against Tk 4.19 for July 2017-March 2018.

JMI Syringes, which was listed on the DSE in 2013, disbursed 30 per cent cash dividend for the year ended on June 30, 2018.

The company's paid-up capital is Tk 221 million and authorised capital is Tk 1.0 billion while the total number of securities is 22.10 million.

Khulna Power came second on the turnover chart, with shares worth Tk 206 million changing hands. The company's share price advanced 1.07 per cent to close at Tk 56.70.

Monno Ceramic clinched the third spot, with shares worth Tk 189 million changing hands. The company's share closed at Tk 205.60, losing 6.50 per cent.

The newly-listed Coppertech Industries emerged fourth, with shares worth Tk 171 million changing hands. The company's share price slumped 9.93 per cent to close at Tk 39 each.

Bangladesh Shipping Corporation notched the fifth spot, with shares worth Tk 129 million changing hands. The state-run company's share closed at Tk 56 each, shedding 4.60 per cent.

The United Power, Fortune Shoes, Monno Jute Stafflers, City Bank and Beacon Pharmaceuticals also featured in the day's top turnover chart.

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