Market value of top 10 firms rises 10pc
The total market value of the top 10 listed companies has increased 10.18 percent year-on-year to Tk 146,717 crore in June thanks to strong performance.
Grameenphone is the strongest performer in terms of absolute increase in market capitalisation, gaining 12.92 percent or Tk 6,008.83 crore in value.
In the second quarter of 2018, the country's leading mobile operator's earnings per share soared 36.29 percent.
It was followed by British American Tobacco and United Power Generation; their market capitalisation rose 22.2 percent and 48.41 percent respectively during the course of the year.
The next three highest performers in absolute terms are Renata, Square Pharmaceuticals and Brac Bank.
Top five companies, in terms of market value as of June, are Grameenphone (market value Tk 52,513.16 crore), Square Pharmaceuticals (Tk 21,612 crore), BATBC (Tk 20,740.2 crore), Investment Corporation of Bangladesh (Tk 10,086.39 crore) and United Power Generation (Tk 9,965 crore).
The top ten valued companies weigh in with 38.13 percent of the overall market capitalisation, up from 35.13 percent last year.
“Multinational companies contributed the most last year,” said Md Moniruzzaman, managing director of IDLC Investments.
Market insiders said all the multinational companies perform well in Bangladesh, so investors have huge appetite for their shares. For instance, three MNCs are among the top valued companies. But most of the MNCs that are doing business in Bangladesh are not listed in the market. The government should take initiatives to compel the companies to be listed, said capital market analysts.
“The indigenous companies like Square Pharmaceuticals and United Power Generation performed admirably too,” the IDLC managing director said.
Islami Bank, which occupied the tenth spot last year, came down to 12th. Summit Power entered the top 10 list this year.
