Dhaka, Bangladesh (BBN) – Beximco Pharmaceuticals dominated the top turnover week’s turnover chart on the Dhaka Stock Exchange (DSE) last week that ended on Thursday.
According to statistics from the DSE, some 12.34 million shares of the company worth BDT 1.14 billion changed hands on the Bangladesh’s prime bourse last week.

Share price of the company closed at BDT 94.4 on Thursday, the last trading session of the week, which was 5.83 percent over the previous week.

The recent news of least developed countries’ (LDC) exemption from paying patent drugs royalty till 2032 might have continued attracted the investors to take position in pharmaceuticals stocks in recent times, said an analyst.

Besides, US Food and Drug Administration’s recent approval to Beximco Pharma and Square Pharma also encouraged the investors to focus in pharma stocks, he said.

Beximco Pharma, which produces generic drug, was listed on the Dhaka bourse in 1986. The pharma and chemical sector company belongs to the category of “A”.

As per un-audited third quarter (July-September, 2015) financial reports, the company’s earnings per share (EPS) stood at BDT 1.09 as against BDT 1.11 for the same period last year.

In nine months (January-September, 2015) EPS was BDT 3.70 as against BDT 2.99 for the same period in 2014.

The board of directors of the company distributed 10 percent cash dividend and 5.0 percent stock dividend for the year ended on December 31, 2014. In 2013, the company also disbursed 10 percent cash dividend and 5.0 percent stock dividend.
Beximco Pharma’s paid-up capital is BDT 3,862.4 million and authorized capital is BDT 9,100 million while total number of securities is 386,244,234, according to DSE website.

Of the total shares – sponsor-directors own 13.15 percent, institutions 15.21 percent, foreign investors 25.29 percent and public 46.35 percent.

Beximco Pharma, which started commercial production in 1980, is engaged in manufacturing and marketing of pharmaceutical finished formulation products, large volume parenterals and active pharmaceutical ingredients (APIs), according to company’s website.

Beximco Pharma was followed by Bangladesh Steel Re-rolling Mills with shares worth BDT 638 million changing hands followed by City Bank BDT 431 million, Square Pharma BDT 423 million and United Power BDT 413 million.

ACI Limited also came to the week’s top turnover list with shares of BDT 369 million changing hands followed by IT Consultants BDT 359 million, Olympic Industries BDT 356 million, Alltex Industries BDT 344 million and CVO Petrochemicals Refinery BDT 337 million.

Among the top ten turnover companies, City Bank and IT Consultants saw price correction while eight other companies share price appreciated last week over the previous week.