LankaBangla dominates turnover chart for third week on prime bourse

Dhaka,  Fri,  28 April 2017
Published : 18 Mar 2017, 21:17:37
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LankaBangla dominates turnover chart for third week on prime bourse

FE Report

LankaBangla Finance dominated the transaction chart of Dhaka Stock Exchange (DSE) for the third week in a row as investors remained active on its shares.

According to the statistics available with the DSE, about 34.54 million shares of LankaBangla were traded, generating a turnover of Tk 2.03 billion last week. It was 3.92 per cent of the week's total turnover value.

The daily average turnover for the non-bank financial institution was Tk 406 million on the premier bourse.

The company's share price closed at Tk 59.90 each on Thursday, the last trading session of the week, losing 11.13 per cent over previous week.

Analysts, however, said the company's share price eroded 11.13 per cent last week following its price adjustment after record date. The company's record date was on March 9.

LankaBangla has recommended 15 per cent cash and 15 per cent stock dividend for the year ended on December 31, 2016.

The company also witnessed earnings growth of 50.3 per cent year-on-year basis while the consolidated earnings per share (EPS) stood at Tk 2.87 for the year ended on December 31, 2016 against Tk 1.53 in the previous year.

LankaBangla Finance, which was listed on the Dhaka bourse in 2006, also disbursed 15 per cent cash and 15 per cent stocks dividend for the year ended on December 31, 2015.

The company's paid-up capital is Tk 2.76 billion and authorised capital is Tk 3.0 billion, while the total number of securities is 276.74 million.

The sponsor-directors own 34.83 per cent stake in LankaBangla, while institutional investors own 28.69 per cent, foreign investors 4.94 per cent and the general public 31.54 per cent as on February 28, 2017, the DSE data shows.

LankaBangla was, closely followed by Beximco with about 51.74 million shares of Tk 1.85 billion changing hands. The company's share price advanced 0.85 per cent to close at Tk 35.50 on Thursday, the last trading session of the week.

Far Chemical Industries emerged as the third, with about 41.62 million shares of Tk 1.17 billion changing hands. The company's share price closed at Tk 27.80, gaining 1.46 per cent over the previous week.

IFIC Bank was the fourth, with some 37.87 million shares of Tk 1.03 billion changing hands. The bank's share price soared 9.45 per cent to close at Tk 27.80 each.

Beximco Pharmna was the fifth with 9.78 million shares of Tk 990 million changing hands. Each share of the company closed at Tk 103.60, advancing 5.07 per cent.

Ratanpur Steel notched the sixth spot, with 10.38 million shares worth Tk 904 million changing hands. The steel marker's share price rose 4.38 per cent to close at Tk 88.10 each.

Baraka Power was the seventh with 17.86 million shares of Tk 868 million changing hands. The company's share price plunged 6.99 per cent to close at Tk 47.90 each.

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