p7_weekly-market

Dhaka stocks surge past 6,300 mark after national elections

Equity indices at the Dhaka Stock Exchange (DSE) experienced their upward momentum for the second week of January, with the daily turnover reaching a one-month high.

Investors’ confidence seemed to have taken a positive turn as the market has risen for the last two sessions, after the easing of economic uncertainties that had been looming before the national elections.

In the last week, DSE’s broad-based index DSEX moved up 57.53 points compared to the previous trading week and stood at 6,302, which was the highest in nearly four months. Shariah index DSES advanced 13 points to 1,376, and blue-chip DS30 rose nearly 24 points to settle at 2,118.

The participation of investors also increased significantly as the weekly turnover at the Dhaka bourse grew 37.60% to Tk2,197.86 crore.

In the last week, 147 scrips advanced, 33 declined, 200 remained unchanged, and 26 were not traded on the DSE trading floor.

The capital bourse of the country sparked a rally, with the benchmark index crossing the psychological threshold of the 6,300 mark after nearly four months, as investors felt somewhat relieved from the prevailing concerns regarding the market’s momentum since the prevailing political uncertainties have somewhat eased down following the completion of the national elections, according to the daily market commentary by EBL Securities.

The brokerage house said the market observed buy dominance in the majority of the sessions as investor confidence slightly rebounded owing to positive expectations regarding the improvement of the prevailing external challenges impeding the market’s momentum.

Moreover, investors’ buying interest was also aimed at particular large-cap stocks that remained shackled to the floor for a long time.

Investors were mostly active in the engineering sector, accounting for 13.6% of share trades, followed by the general insurance sector at 10.9% and pharmaceutical sectors at 8.6%.

The majority of sectors concluded with positive gains, with the travel sector emerging as the top performer with a remarkable 6.9% increase and the jute sector being the biggest loser with a 0.9% decrease in value.

At the DSE, the top three most-traded stocks were Union Capital, Rupali Bank, International Leasing and Financial, Bashundhara Paper Mills, and Khan Brothers PP Woven Bag Industries.

The port city bourse Chittagong Stock Exchange also settled on green terrain in the last week. The selected indices (CSCX) and All Share Price Index (CASPI) advanced by 0.84% and 0.85% respectively, during the week.

The participation of investors also increased significantly as the weekly turnover at the CSE bourse stood at Tk34 crore and the volume of shares was Tk1.23 crore.

In the last week, 106 scrips advanced, 26 declined, and 130 remained unchanged, on the CSE trading floor.

dse-min

মন্ত্রী হচ্ছেন শেয়ারবাজারের চার পরিচিত মুখ

মন্ত্রী হচ্ছেন শেয়ারবাজারের চার পরিচিত মুখ

নিজস্ব প্রতিবেদক : প্রধানমন্ত্রী শেখ হাসিনার মন্ত্রিসভায় স্থান পেয়েছেন শেয়ারবাজারের পরিচিত ও নেতৃস্থানীয় চার মুখ। তাঁরা হচ্ছেন- ফরিদপুর-১ আসন থেকে নির্বাচিত মো: আব্দুর রহমান, ঢাকা-৯ আসন থেকে সাবের হোসেন চৌধুরী, টাঙ্গাইল-৬ থেকে নির্বাচিত আহসানুল ইসলাম টিটু এবং কিশোরগঞ্জ-৬ আসন থেকে নির্বাচিত নাজমুল হাসান পাপন।

মন্ত্রিপরিষদ সচিব মো. মাহবুব হোসেন বুধবার (১০ জানুয়ারি) রাতে সচিবালয়ে সাংবাদিকদের নতুন মন্ত্রিসভার তাঁদের নাম ঘোষণা করেন।

তাঁদের মধ্যে কে কোন মন্ত্রণালয়ের দায়িত্ব পাচ্ছেন, তা আজ বৃহস্পতিবার শপথ গ্রহণের পর জানা যাবে।

মো: আব্দুর রহমান ঢাকা স্টক এক্সচেঞ্জের (ডিএসই) সদস্য প্রতিষ্ঠান এআরসি সিকিউরিটিজের ব্যবস্থাপনা পরিচালক।

সাবের হোসেন চৌধুরী ইচআর সিকিউরিটিজ অ্যান্ড ইনভেস্টমেন্ট লিমিটেডের পরিচালক।

আহসানুল ইসলাম টিটু ঢাকা স্টক এক্সচেঞ্জের সাবেক চেয়ারম্যান। তিনি ডিএসই ও সিএসই’র সদস্য প্রতিষ্ঠান মোনা ফাইন্যান্সিয়াল লিমিটেডের চেয়ারম্যান।

নাজমুল হাসান পাপন শেয়ারবাজারে তালিকাভুক্ত ব্লুচিপ কোম্পানি বেক্সিমকো ফার্মাসিউটিক্যালসের ব্যবস্থাপনা পরিচালক।

 

সূত্রঃ শেয়ারনিউজ২৪.কম 

New-Project-22-2

বোনাস ডিভিডেন্ড পেলেন জেমিনি সী ফুডের বিনিয়োগকারীরা

বোনাস ডিভিডেন্ড পেলেন জেমিনি সী ফুডের বিনিয়োগকারীরা

নিজস্ব প্রতিবেদক : শেয়ারবাজারে খাদ্য ও আনুষঙ্গিক খাতের কোম্পানি জেমিনি সী ফুডের ঘোষিত বোনাস ডিভিডেন্ড বিনিয়োগকারীদের বেনিফিশিয়ারি ওনার্স (বিও) হিসাবে প্রেরণ করা হয়েছে।

আজ মঙ্গলবার (০৯ জানুয়ারি) সেন্ট্রাল ডিপোজিটরি অব বাংলাদেশ লিমিটেড (সিডিবিএল) সূত্রে এই তথ্য জানা গেছে।

৩০ জুন, ২০২৩ অর্থবছরের জন্য জেমিনি সী ফুড ১২০ শতাংশ ডিভিডেন্ড ঘোষণা করেছিলল। এর মধ্যে ৭৫ শতাংশ বোনাস ও ৪৫ শতাংশ ক্যাশ ডিভিডেন্ড।

সূত্রঃ শেয়ারনিউজ 

pexels-burak-the-weekender-186461

Investors kick off 2024 with $123b record cash shift: BofA

It was the second week in a row for inflows to equities, and eight out of the past ten weeks have seen inflows, totalling $82 billion

Investors ploughed $123.1 billion into cash in the seven days to Wednesday, marking the largest such inflow since March 2023 and a record for the first week of a year, Bank of America said in a report published on Friday.

The shift, which BofA said was typical for the first week of the year, follows 2023’s record yearly inflow to cash of $1.3 trillion, as risk-averse investors fled to safe-haven assets and higher interest rates reduced investor demand for stocks.

Citing data from fund flows and asset allocation data provider EPFR, BofA said investors bought $10.6 billion of bonds and $7.6 billion of stocks, but they shed $0.8 billion of gold.

It was the second week in a row for inflows to equities, and eight out of the past ten weeks have seen inflows, totalling $82 billion, BofA added.

Global equities are set to snap a nine-week winning streak as bets on aggressive central bank rate cuts were rolled back.

The benchmark S&P 500 is up about 14% since the end of October, but declined 1.1% over Wednesday and Thursday, as investors grew nervous about expectations of near imminent interest rate cuts from the Federal Reserve.

“Fed and yields dictating credit and stocks,” BofA said.

Energy stocks saw their seventh straight week of outflows, and the largest since July 2023 of $1.0 billion. US small-cap stocks recorded a weekly inflow of $2.3 billion, their fifth weekly inflow in a row.

BofA’s bull & bear indicator, a measure of market sentiment, rose to 5.3 from 5.0 to the highest level since November 2021 though remained at a neutral signal, with BofA citing equity breadth, credit technicals and strong high yield inflows.

 

Source: The Business Standard 

Untitled

১৫ জানুয়ারি চলতি অর্থবছরের মুদ্রানীতি ঘোষণা

১৫ জানুয়ারি চলতি অর্থবছরের মুদ্রানীতি ঘোষণা

নিজস্ব প্রতিবেদক : আগামী ১৫ জানুয়ারি চলতি অর্থবছরের দ্বিতীয়ার্ধের (জানুয়ারি-জুন) মুদ্রানীতি ঘোষণা করবে বাংলাদেশ ব্যাংক। নতুন মুদ্রানীতিতে অগ্রাধিকার দেওয়া হবে মূল্যস্ফীতি। ফলে বাজারে টাকার প্রবাহ আরও কমে যেতে পারে। এতে ঋণের সুদহার আরও বৃদ্ধি পেতে পারে।

বাংলাদেশ ব্যাংকের নির্বাহী পরিচালক ও মুখপাত্র মেজবাউল হক নতুন মুদ্রানীতির বিষয়ে বলেন, ২০২৩ সালে নানামুখী চ্যালেঞ্জ ছিল, পুরো বছরই তা মোকাবিলার চেষ্টা করে গেছে বাংলাদেশ ব্যাংক। এর মধ্যে কিছু অর্জনও ছিল।

তিনি বলেন, চলতি বছর সুদহার বাজারভিত্তিক করা হয়েছে। নতুন টাকা সৃষ্টি করে সরকারকে ঋণ দেওয়া বন্ধ করা হয়। মূল্যস্ফীতি নিয়ন্ত্রণে নানা পদক্ষেপও নেওয়া হয়েছে। তাই বলা যায় ২০২৩ সাল পুরো বছর বিভিন্ন চ্যালেঞ্জ মোকাবিলাতেই গেছে।

তিনি আরও বলেন, মূল্যস্ফীতি নিয়ন্ত্রণের জন্য যেসব পদক্ষেপ নেওয়া হয়েছে, আশা করা যাচ্ছে নতুন বছরের জুনে তা ৬ বা ৮ শতাংশে নেমে আসবে। এ ছাড়া বৈদেশিক মুদ্রার রিজার্ভ একটা ইতিবাচক ধারায় এসেছে। নতুন সরকার আসলে তা আরও শক্তিশালী হবে। রিজার্ভ শক্তিশালী হলে বৈশ্বিক সংকট অনেকটাই ধীরে ধীরে কেটে যাবে।

অন্যদিকে আগামী জুনে আর্থিক হিসাবের ঘাটতি ইতিবাচক ধারায় ফিরবে। তাই আমরা আশা করছি যেসব চ্যালেঞ্জের মুখে আমরা পড়েছি, নতুন বছর তা উত্তরণের মাধ্যমে একটা ভালো অবস্থানে যেতে পারব।

করপোরেট গভর্নেন্স নিশ্চিত করার বিষয়ে নতুন বছরও অব্যাহত থাকবে বলে জানান মুখপাত্র। তিনি বলেন, করপোরেট গভর্নেন্স নিয়ে কাজ শুরু করেছি। তা নতুন বছরও অব্যাহত থাকবে।

আমানতকারীদের স্বার্থে বাংলাদেশ ব্যাংক যে কোনো পদক্ষেপ বাংলাদেশ ব্যাংক নিবে। কারণ আমানতকারীদের অর্থের নিরাপত্তা দেওয়াই হচ্ছে বাংলাদেশ ব্যাংকের মূলনীতি।

জানা যায়, চলতি ২০২৩-২৪ অর্থবছরের দ্বিতীয় ভাগের জন্য মুদ্রানীতি প্রণয়ন করার লক্ষ্যে অর্থনীতিবিদদের পরামর্শ নিয়েছে কেন্দ্রীয় ব্যাংক। এ ছাড়া আগ্রহী ব্যক্তি ও প্রতিষ্ঠানের কাছ থেকে মতামত ও পরামর্শ চেয়েছে।

এ ছাড়া গত অক্টোবর মাসে বাংলাদেশ ব্যাংক মুদ্রানীতি প্রণয়ন কমিটি পুনর্গঠন করেছে। আগে শুধু কেন্দ্রীয় ব্যাংকের কর্মকর্তারা এই কমিটিতে ছিলেন, এবারের কমিটিতে বাইরে থেকে আরও তিনজনকে রাখা হয়েছে।

দেশের অর্থনৈতিক স্থিতিশীলতা বজায় রাখার জন্য মুদ্রানীতি অত্যন্ত গুরুত্বপূর্ণ। মুদ্রানীতির মূল লক্ষ্য হলো মূল্যস্ফীতি নিয়ন্ত্রণের মধ্যে রেখে জিডিপির প্রবৃদ্ধিকে ত্বরান্বিত করা, যাতে কর্মসংস্থান সৃষ্টি হয়।

এ ছাড়া মুদ্রার বিনিময় হারের স্থিতিশীলতা বজায় রাখাও মুদ্রানীতির অন্যতম কাজ। বছরে দুবার মুদ্রানীতি প্রণয়ন করে বাংলাদেশ ব্যাংক। গত ১৮ জুন চলতি অর্থবছরের প্রথম ছয় মাসের অর্থাৎ জুলাই থেকে ডিসেম্বর সময়ের জন্য মুদ্রানীতি ঘোষণা করা হয়।

 

সূত্রঃ শেয়ার নিউজ

ipo-india

NRB Bank’s IPO subscription begins 28 January

The bank will invest Tk92 crore in government securities, Tk4.17 crore in the secondary market and Tk3.83 crore to meet its IPO expenses

The initial public offering (IPO) subscription of NRB Bank will begin on 28 January 2024 and continue till 1 February.

Earlier, on 9 November, the bank received approval from the Bangladesh Securities and Exchange Commission (BSEC) to raise Tk100 crore through issuing new shares at Tk10 each under the IPO.

The bank will invest Tk92 crore in government securities, Tk4.17 crore in the secondary market and Tk3.83 crore to meet its IPO expenses.

According to the financial report of January to September of 2023, the consolidated net interest income of the bank stood at Tk72 crore, which was Tk96 crore in the same period of 2022.

In the same period, its consolidated net profit after tax stood at Tk16 crore and earnings per share Tk0.27, which was Tk55 crore and Tk0.94 respectively in 2022.

As on 30 September 2023, its net asset value per share stood at Tk12.72.

UCB Investment and Shahjalal Equity Management Ltd are working as the issue managers for NRB Bank’s IPO.

Its authorised capital was Tk1,000 crore and paid-up capital Tk590.59 crore.

NRB Bank, established in 2013, launched a wide variety of products and services under different categories such as retail banking, SME banking, NRB banking, corporate banking, and e-banking.

As of 2023, the bank has 50 branches, 24 sub-branches, 50 ATM booth outlets, and 308 agent outlets across the country.

According to the prospectus of the bank, at the end of September 2023, its non-performing loan (NPL) ratio stood at 6.10% of the total outstanding, which was 3.22% a year ago.

At the end of September 2023, its capital adequacy ratio stood at 14.19%, which was 16.60% in 2022.

During the period, the total loans and advances of the bank stood at Tk5,697 crore, which was Tk4,949 crore at the end of December 2022.

Its total liabilities were Tk7,575 crore at the end of September 2023.

 

Source: The Business Standard

p7_lead-info_mir-akhter

Tk9,268cr worth of projects in Mir Akhter’s hands

Some notable projects are Dhaka-Sylhet national highway, development of the airport, Paira bridge and roads

Photo: Courtesy

Photo: Courtesy

Mir Akhter Hossain Limited, the country’s sole construction company listed on the Dhaka and Chattogram bourses, currently has 33 projects worth Tk9,268 crore in its hands, according to the company’s annual report for the fiscal 2022-23.

Some of the notable projects currently underway include the Dhaka-Sylhet national highway, the development of Shah Amanat International Airport, the construction of a bridge over the Paira river, and numerous road projects across the country.

Despite a decline in the company’s business performance since its stock market listing in 2021, Mir Akhter looks to a promising future, thanks to its successful bids for so many government projects, according to market insiders.

In its FY23 annual report, the company stated that the construction sector is benefiting from an increase in capital allocation from the government’s annual development budget.

The implementation of the Annual Development Program (ADP) has grown 9.21% year-on-year to Tk2.46 lakh crore in FY23. The approved budget allocated for the ADP for the FY24 is Tk2.63 lakh crore.

Mir Akhter’s FY23 annual report also mentions that the country was affected by a number of challenges including trade barriers, appreciation of dollar and high energy prices in addition to the Russia-Ukraine war.

The average annual inflation reached a ten-year high of 7.7% in 2022 and 9.7% in July 2023. The World Bank projects inflation to remain at this level in 2023 before easing to 7.7% in 2025, the report reads.

Sohela Hossain, chairperson of Mir Akhter, said in the annual report, “Amid these challenges, Mir Akhter was able to run the business with a certain level of efficiency and we worked to retain the company’s profitability. We undertook a number of precautionary measures to deal with the possible adverse impact on business.”

“We also reoriented our project management approach to better deal with the altered circumstances,” she added.

The company’s Managing Director Mir Nasir Hossain, said in the report, “Bangladesh, being a developing country, is in constant need of implementing infrastructural development projects. As a leading construction company, we are one of the major players of this sector.”

“The company was also able to maintain a positive operating cash flow indicating that its overall financial and liquidity position is still sound. We are always monitoring the market, industry partners and the overall economy for any future plans,” he added.

Mir Akhter got listed on the stock exchanges through issuing shares at Tk60 each under the book-building method of the initial public offering (IPO). General investors each got a 10% discount rate at Tk54 per share.

At the end of Wednesday’s trading session, its shares closed at Tk50.80 each at the Dhaka Stock Exchange (DSE). Its share price is far below the risky zone in terms of the price earnings ratio (P/E). Its P/E ratio is 15.35 based on the annual audited report, where over 40 P/E ratio is determined as risky.

But the company’s total liabilities stood at Tk1,440 crore as on 30 September 2023, which was 59% of the total assets and 238% higher than the shareholders equity. If the lending interest rate increases, the company will face difficulties to maintain the profit growth, said market insiders.

 

Source: The Business Standard

best_holdings_tbs

Best Holdings changes IPO start to 14 January

Initially set for 8 January 2024, the subscription window will now begin on 14 January and continue until 18 January, as per the new schedule published on the stock exchange website on Tuesday.

The initial public offering (IPO) subscription of Best Holdings Limited, the operator of the high-end hotel Le Meridien in Dhaka’s Nikunja 2 area, has been changed.

Initially set for 8 January 2024, the subscription window will now begin on 14 January and continue until 18 January, as per the new schedule published on the stock exchange website on Tuesday.

To participate in the company’s IPO, Bangladeshi resident general investors must have at least Tk50,000 invested in listed securities by 3 January 2024. Non-resident Bangladeshis (NRBs) require Tk1 lakh.

Earlier, the electronic bidding for the company’s shares took place between 20 November and 23 November, where the cut-off price of the shares was fixed at Tk35 each.

Qualified and institutional investors including mutual funds will buy 25% of the company’s shares at the cut-off price. Individual investors will be able to buy the remaining shares at a 30% discounted price of Tk24 each.

The cut-off price is the price at which institutional investors have primary shares allocated for them in an IPO under the book-building method.

Earlier, on 10 October, the Bangladesh Securities and Exchange Commission (BSEC) allowed Best Holdings to raise Tk350 crore through an IPO under the book-building method from the capital market.

The company will use 50% of the fund or Tk176 crore for building construction and other civil works, 33%, or Tk115.6 crore for repayment of existing liabilities, and around 13% for local machinery and equipment acquisition.

Best Holdings is in the process of raising fresh funds to build a resort in Bhaluka. The cost of the total project, which will offer world-class hospitality outside the capital, is Tk1,586.91 crore, as per the prospectus. For this project, the IPO and the company’s fund will contribute Tk755 crore and the rest will come from loans.

According to the audited financial report of June 2023, the earnings per share (EPS) of the company stood at Tk1.24 and the year-weighted average EPS was at Tk0.95.

 

Source: The Business Standard

dhaka_stock_exchange_limited

DSE finally changes auditor after 36 years

The shareholders of the DSE have also approved a 4% cash dividend for FY23

The Dhaka Stock Exchange (DSE) has finally changed its auditor after 36 long years. 

Earlier, A Qasem & Co Chartered Accountants used to be the country’s premier bourse’s auditor. Now, the DSE has appointed Hoda Vasi Chowdhury & Co Chartered Accountants for auditing its financial statements for the 2023-24 fiscal year in a move to ensure transparency and diversification.

In the DSE’s annual general meeting (AGM) held on 21 December, the bourse’s shareholders approved the auditor change.

Dhaka bourse’s Managing Director ATM Tariquzzaman told TBS, “In the AGM, shareholders have approved the proposal of changing auditor, and a new auditor has been appointed for the next fiscal year.”

The shareholders of the DSE have also approved a 4% cash dividend for FY23. In the previous fiscal year, the DSE had paid a 6% cash dividend to its shareholders.

According to DSE’s annual report, the bourse had witnessed a significant drop in revenue and profit in the fiscal 2022-23, owing to stock market volatility and lower share transactions amid floor prices.

According to its FY23 financials, revenue fell by 25% to Tk238 crore, which is the lowest since the fiscal 2019-20.

Its net profit after tax declined to Tk80 crore, 35% lower than the previous fiscal year.

Source: The Business Standard

lankabangla

LankaBangla Finance allowed to issue Tk200cr zero coupon bond

Unlike coupon-bearing bonds, where investors pay the principal and enjoy periodic interests until the issuer pays back the principal at maturity, zero-coupon bonds are issued at a discounted price and investors get back their principal amount with interest in equal instalments till the predetermined period

The securities regulator has allowed LankaBangla Finance to issue its fourth zero coupon bond worth Tk200 crore.

The publicly listed non-bank financial institution (NBFI) will use the money to lend to individuals, corporates and small and medium enterprises.

The discount rate of the privately placed, non-convertible, fully redeemable, unsecured bond will be between 9% and 10%, according to the Bangladesh Securities and Exchange Commission.

Unlike coupon-bearing bonds, where investors pay the principal and enjoy periodic interests until the issuer pays back the principal at maturity, zero-coupon bonds are issued at a discounted price and investors get back their principal amount with interest in equal instalments till the predetermined period.

For instance, investors can buy each unit of LankaBangla’s fourth zero coupon bond at Tk8.33 lakh and the principal amount plus interest will be paid back in six equal half-yearly instalments as the portion of the bond will be redeemed.

Zero coupon bonds are already popular among educated investors due to tax exemption the government offers against the income from the instrument.

Other than banks, NBFIs and insurers, income of any individual or corporate from zero coupon bonds is tax-waived in Bangladesh.

A corporation which pays around 40% tax on its net income will find the effective return from LankaBangla’s fourth zero coupon bond at a rate higher than 13%.

The bond will be issued to institutional and high net worth individual investors.

Green Delta Capital will be trustee and the issuer itself will be the arranger of the bond.

The privately placed instrument will be tradable on the Alternative Trading Board of the bourses.

 

Source: The Business Standard