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The Financial Express

Ten most-traded firms grab 35pc of turnover

Genex Infosys tops weekly transaction chart


| Updated: January 24, 2023 08:57:45


Ten most-traded firms grab 35pc of turnover

Ten most-traded companies accounted for 35 per cent of transactions on the Dhaka Stock Exchange (DSE) in the outgoing week, with Genex Infosys dominating the turnover list.

Buoyed by the IT firm's promising business outlook, investors chased its stock expecting better returns, market insiders said.

According to the DSE data, some 29.63 million Genex Infosys shares were traded during the week, generating a turnover of Tk 2.92 billion, which was 7.58 per cent of the week's total turnover.

The week's total turnover jumped to Tk 38.51 billion, an 82 per cent increase over the previous week's turnover of Tk 21.21 billion.

The IT firm's stock price closed at Tk 102.40 on Thursday, gaining 16.89 per cent over the week before.

Genex Infosys forecasts its IT business to triple in the next five years on the back of three deals signed in recent times.

In November last year, the company signed a 10-year deal with the National Board of Revenue to boost its VAT collection countrywide.

The agreement with the NBR is expected to generate revenue of Tk 2.12 billion per year upon the full-scale rollout.

In mid-September 2022, the IT firm partnered with the Standard Chartered Bangladesh to help the bank reach out to more clients and scale up its distribution network. The job is expected to push up the annual revenue by Tk 60 million.

Genex Infosys renewed its contract with Banglalink on the management of clients' queries and complaints through its call centre, which will generate Tk 120 million in revenue per year for the next five years.

Bangladesh Shipping Corporation came second on the turnover chart, with shares worth Tk 2.19 billion changing hands during the week. The state-run corporation's share price rose 6.26 per cent to close at Tk 134 on Thursday.

Bashundhara Paper Mills clinched the third spot, with shares worth Tk 1.69 billion changing hands. The company's share closed at Tk 91.30 on Thursday, rising 1.22 per cent over the previous week.

Orion Pharma emerged as fourth, with shares worth Tk 1.43 billion changing hands. The drug maker's share rose 3.73 per cent to close at Tk 89.10 on Thursday.

Aamra Networks notched the fifth spot, with shares worth Tk 999 million changing hands. The IT Company's share price soared 11.39 per cent to close at Tk 61.60 Thursday.

Recently, Aamra Networks has decided to sell its data centre at Tk 115 million owing to dissatisfactory revenue generation. The company will invest the fund in a new business, and in developing its existing business lines.

Aamra Networks believes the introduction of a new product line and investments in profitable multiprotocol label switching (MPLS) business will have a greater impact on its profitability than the data centre.

Turnover of JMI Hospital Requisite Manufacturing was Tk 965 million. The company's share price dropped 0.21 per cent to close at Tk 93.10 on Thursday.

Intraco Refueling Stations featured a turnover of Tk 897 million. Its share closed at Tk 38.10, falling 3.54 per cent over the previous week.

The turnover of Meghna Life Insurnace was Tk 857 million. The life insurer's share price soared 15.47 per cent to close at Tk 90.30 on Thursday.

LafargeHolcim Bangladesh featured a turnover of Tk 836 million. The multinational cement manufacturer's share closed at Tk 66.20, rising 2.16 per cent over the week before.

Eastern Housing also made its way to the week's top turnover chart, with shares worth Tk 836 million changing hands. The company's share price advanced 1.36 per cent to close at Tk 89.20 on Thursday.

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