Orion Pharma sees highest turnover

Ten most-traded stocks accounted for 29 per cent transactions on the Dhaka Stock Exchange (DSE) on Thursday, with Orion Pharmaceuticals dominating the turnover chart.

Market operators said investors continued to show their appetite for pharmaceutical companies' shares amid optimism that the drug makers would post higher profits in these times of coronavirus pandemic.

As many pharma stocks remained undervalued for long and their price-earnings (PE) ratio was below 10, investors started injecting fresh funds into these stocks, said a leading broker.

Besides, Beximco Pharma, Beacon Pharma and Square Pharma got permission to produce remdesivir, an antiviral drug for treating Covid-19. As a result, their stock prices were soaring over the last three months, he said.

As the demand for many pharmaceutical products was high during the pandemic, investors tried to buy pharma sector shares expecting higher returns, he added.

According to the data available with the DSE, some 7.10 million shares of Orion Pharma were traded on Thursday, generating a turnover of Tk 426 million, which was 4.70 per cent of the day's total turnover.

The drug maker's share closed at Tk 59.70, up 3.82 per cent from the previous day.

Its share traded between Tk 25.20 and Tk 63.60 in the last one year.

The Orion Pharma, listed on the DSE in 2013, disbursed 15 per cent cash dividend for the year ended on June 30, 2019.

The company's paid-up capital is Tk 2.34 billion and authorised capital is Tk 5.0 billion while the total number of securities is 234 million.

The sponsor-directors own 31.98 per cent stake in the company, while the institutional investors own 46.94 per cent, foreign investors 1.66 per cent and the general public 19.42 per cent as on July 31, 2020, the DSE data show.

Bangladesh Export Import Company (Beximco) came second on the turnover chart, with shares worth Tk 353 million changing hands. The company's share price fell 0.38 per cent to close at Tk 26 each.

Beximco Pharma clinched the third spot, generating a turnover of Tk 321 million. The company's share closed at Tk 108.20 each, losing 0.36 per cent.

LafargeHolcim emerged as the fourth, with shares worth Tk 293 million changing hands. The company's share rose 4.61 per cent to close at Tk 45.40 each.

Brac Bank notched the fifth spot, generating a turnover of Tk 287 million. The bank's share closed at Tk 37.90, gaining 4.98 per cent.

The turnover of Grameenphone (GP) was Tk 225 million. The largest market-cap company's share closed at Tk 314.90, shedding 0.19 per cent from the previous session.

British American Tobacco featured a turnover of Tk 202 million. The company's share advanced 0.75 per cent to close at Tk 1,094.10 each.

The turnover of Square Pharma was Tk 187 million. The company's share fell 0.46 per cent to close at Tk 216.40 each.

IFIC Bank featured a turnover of Tk 158 million. The bank's share closed at Tk 11.70 each, gaining 4.46 per cent.

The newly listed Express Insurance also made its way to the day's top turnover chart, with shares worth Tk 152 million changing hands. The company's share price rose 5.26 per cent to close at Tk 26 each on Thursday.

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