Submarine Cables’ share soars over plans in 3rd connection
Stock rates of Bangladesh Submarine Cables swelled within the last two business days after media broke that Bangladesh was going to be connected with a third submarine communications wire.
The rise was 7.57 %, taking the purchase price to Tk 141.50.
The submarine communications cable and its business are raising investors' hopes on the state-run listed company and encouraged them to get the stock, said stock investor Abul Hossain.
The business has been giving good dividends therefore the new submarine cable will add to its profits in the coming years.
The new connection will boost the company's revenue as the united states are going towards digitalisation, he added.
The united states now uses 1600 Gbps bandwidth, which was 300 Gbps towards the end of 2016.
The upward trend was observed in the country's overall currency markets within the last two days.
The DSEX, the benchmark index of Dhaka Stock Exchange, rose 30.9 tips, or 0.63 %, to 4,934.8 yesterday.
Along with it, turnover, another essential indicator of the stock market, increased 26 % to Tk 841 crore.
Moreover, Dominage Steel Construction produced its trading debut and topped the gainers list, rising 50 per cent followed by Summit Alliance Port, Esquire Knit Composite, New Collection Clothing and LafargeHolcim Bangladesh.
Beximco traded the most, value Tk 44.84 crore, accompanied by National Feed Mill, Beximco Pharmaceuticals, Bangladesh Submarine Cables and Nitol Insurance.
Of the full total 355 companies to witness trade, 153 advanced, 106 declined and 96 remained unchanged.
The ACI shed the most, falling 8.36 %, accompanied by Zeal Bangla Sugar Mill, United Insurance, SEML Lecture Fund and National Feed Mill.
Chattogram STOCK MARKET also witnessed a growing trend found in its index.
The CSEX, the prime index of the port city bourse, rose 40.7 points, or 0.47 %, to 8,527.50 yesterday.
Of the full total 250 companies listed there, 109 rose, 82 fell and 59 remained the same.
