Robi, Beximco companies’ stocks fly high all week
Stocks of Robi Axiata and some concerns of Beximco Group continued to dominate the marketplace, capping off a week along with the turnover and gainers' lists.
Since Robi Axiata built its trading debut over December 24, its share price tag has been rising every day.
And even though Beximco, Beximco Pharmaceuticals, IFIC Bank and Shinepukur Ceramics, all concerns of the conglomerate, witnessed a few corrections, they have remained bullish for recent months.
DSEX, the benchmark index of the Dhaka STOCK MARKET, rose 287 points, or 5.11 per cent, over the prior week.
During this period, Robi rose 47 per cent, Beximco 33 per cent and Beximco Pharmaceuticals 12 %.
Beximco led the turnover list with the average daily turnover of Tk 162 crore even though Robi came found in second with Tk 116 crore and Beximco Pharmaceuticals third with Tk 107 crore.
Many investors believe that Robi has potential since it's a multinational telecom company, prompting them to get the stock, said a senior official of a secured asset management company.
Meanwhile, several investors who actually got Robi's shares through its initial public supplying have already sold their stakes, convinced that the huge profit they created from the recent rise found in value will do, he added.
However, the official urged investors to be careful with regards to Robi since the company's earnings are low.
Robi's profit stood in Tk 38 crore even while its earnings per share was Tk 0.08 in the July-September period.
"Robi won't become highly successful overnight. Rather, it will require time hence investors must wait to have a good dividend from the country's second greatest mobile operator," the official added.
Apart from Robi, stocks of Beximco, Beximco Pharmaceuticals, IFIC Bank and Shinepukur Ceramics were as well along with the investors' demand list.
Beximco Pharma's shares have been on the rise since July riding on a rumour that whenever the coronavirus vaccine involves the country, the leading drug maker will grab the business first, according to a inventory broker preferring anonymity.
The rumour became possible in November when Beximco signed a manage the Serum Institute of India in this regard, he said, adding the deal drove investors wild.
On November 5, a trilateral memorandum of understanding was signed between your Bangladesh government, Serum Institute of India and Beximco Pharmaceuticals to collect three crore doses of Covid-19 vaccines from the Pune-based biotechnology and pharmaceutical provider.
Following the deal became official, Beximco Pharma's shares surged without correction, the stock broker said, adding that three of the group's other concerns -- Beximco, IFIC Bank and Shinepukur Ceramics -- also rose consequently.
"The pharma company has the potential to see higher earnings but investors have to consider the valuation of their potential," he added.
"Among the major financial issues, the true rate of return in deposits in the amount of money market had turnover in the negative," LankaBangla Securities stated in its weekly analysis.
Banks have been flooded with surplus liquidity aswell after having made an archive Tk 1.95 lakh crore in November 2020, it added.
This season, the rally of the stock indices started with Beximco Group's stocks, a merchant banker said.
Somehow, the shares rose and it influenced investors positively.
Although virtually all stocks rose within the last couple of weeks, Robi and Beximco Group's concerns rose at an increased extent compared, the merchant banker added.
