BATBC, IDLC and IPDC stocks and shares drop despite positive disclosures
Despite making great disclosures, shares of some major businesses dropped yesterday. DSEX, the benchmark index of the Dhaka Stock Exchange (DSE), fell 27 tips, or 0.53 per cent, to 5,475.98 yesterday.
British American Tobacco Bangladesh (BATBC) declared yesterday that its plank of directors accepted an financial commitment amounting to Tk 192.5 crore to increase the manufacturing capacity of their Savar factory.
The decision found enhance the upcoming export opportunities of cigarettes from Bangladesh. The investment would be funded from interior financing.
Regardless of the announcement, stocks of the BATBC dropped 0.66 per cent to Tk 1,592.
It had been the same fate for the IPDC and IDLC although they logged higher revenue amid the pandemic.
IDLC Finance declared 35 % income dividend as its profits rose 49 % to Tk 254 crore for the entire year ending on December 31 of 2020 compared to the previous year.
IPDC Finance recommended 12 per cent cash dividend while it's profits rose 25 % to Tk 70.5 crore this past year. Even so, the IDLC and IPDC Financing stocks fell 0.43 per cent and 0.75 % respectively.
The overall industry situation was dull because investors are confined to within some stocks, a merchant banker said.
So when these stocks fall, then traders cannot trade without incurring losses, he said, adding that 3 or 4 companies were along with the demand list among shareholders in the recent few months.
"Investors should be patient and keep good performing companies in hand," he said.
Turnover, an essential indicator of the currency markets, dropped 19.6 %, to Tk 694 crore yesterday. Shares of Beximco topped trade with Tk 213 crore, accounting for over 30 % of total turnover.
In the DSE, 76 stocks rose, 144 declined and 126 remained unchanged.
Bangladesh National INSURANCE PROVIDER topped the gainers' list yesterday that rose 9.93 % followed by ASIA Knitting, Jute Spinners, Asia Insurance and Generation Up coming.
Beximco topped the turnover list accompanied by Robi Axiata, BATBC, Beximco Pharmaceuticals and LankaBangla Finance.
Bangladesh General INSURANCE PROVIDER shed the most, dropping 6.09 per cent followed by Taufika Foods and Agro Industries, Prime LIFE INSURANCE COVERAGE, Reliance Insurance and Rupali LIFE INSURANCE COVERAGE.
The port metropolis bourse also dropped yesterday. CASPI, the overall index of the Chittagong Stock Exchange (CSE), fell 120 details, or 0.75 %, to 15,821 yesterday.
Among 228 traded stocks and shares, 56 rose, 111 dropped and 61 remained same.
