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United Power Generation tops weekly turnover chart

FE Report | Published: August 10, 2019 11:17:56 | Updated: August 13, 2019 10:45:31


The United Power Generation and distribution Company generated the highest turnover of Tk 1.70 billion on the Dhaka Stock Exchange (DSE) in the outgoing week.

The power generation company topped the list of ten most traded companies that accounted for 28 per cent of total transactions during the week.

Market analysts said investors showed their appetite for United Power shares almost throughout the week as the company recommended a healthy dividend for the year ended on June 30, 2019.

It recommended 130 per cent cash and 10 per cent stock dividend.

Besides, the United Power and its major shareholder United Mymensingh Power recently executed an agreement with an international private equity group for an investment of Tk 8.5 billion (approximately US$100 million), which also encouraged investors, said a leading broker.

According to DSE data, 2.75 million shares of United Power were traded, generating a turnover of Tk 1.70 billion during the outgoing week, which was 4.52 per cent of the total turnover of Tk 23.69 billion.

The company's share closed at Tk 395.10 each on Thursday, the last trading session of the week, gaining 3.0 per cent over the previous week.

Monno Ceramic came second on the turnover chart, with shares worth Tk 987 million changing hands. The company's share price fell 0.89 per cent to close at Tk 212.30 each on Thursday.

Bangladesh Shipping Corporation clinched the third spot, with shares worth Tk 737 million changing hands. The company's share closed at Tk 58.20 each on Thursday, falling 0.68 per cent over the previous week.

JMI Syringes emerged the fourth, with shares worth Tk 645 million changing hands. The company's share price soared 9.38 per cent week on week to close at Tk 509.80 on Thursday.

Fortune Shoes notched the fifth spot, with shares worth Tk 611 million changing hands. The shoe maker's share closed at Tk 40.30 each, losing 4.73 per cent.

The turnover of the Coppertech Industries, which made its trading debut this week, was Tk 588 million. The company's share price jumped 291 per cent to close at Tk 39.10 each on Thursday, from its issue price of Tk 10.

Square Pharmaceuticals featured a turnover of Tk 553 million. The company's share closed at Tk 251.10 each on Thursday, losing 0.32 per cent over the previous week.

The turnover of Khulna Power was Tk 525 million. The company's share price rose 15.42 per cent to close at Tk 58.40 each on Thursday.

Monno Jute Stafflers featured a turnover of also Tk 414 million. The company's share closed at Tk 1,249.30 each on Thursday, soaring 18.52 per cent.

Indo-Bangla Pharmaceuticals also made its way to the top 10 turnover chart, with shares of Tk 398 million changing hands. The company's share price advanced 1.22 per cent to close at Tk 24.80 each on Thursday.

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