Dhaka, Bangladesh (BBN)- Bangladesh Steel Re-rolling Mills (BSRM) dominated the week’s turnover chart on the Dhaka Stock Exchange (DSE) last week that ended on Thursday.
According to statistics from the DSE, some 6.35 million BSRM shares were traded last week, generating a turnover of BDT 903 million, which was 5.14 per cent of week’s total turnover of BDT 17.57 billion.
Daily average turnover for the company was BDT 180.60 million.
However, each share of the Chittagong-based steel producer plunged 19.64 per cent to close at BDT 142 on Thursday, the last session of the week.
Market insiders said sale pressure from one of the sponsor of the company helped the company to become the turnover leader on the premier bourse.
H. Akberali & Co Limited, one of the corporate sponsors of the company, on Monday expressed its intention to sell 2.62 million shares out of its total holding of 28.89 million shares of the company at prevailing market price through Stock Exchange within next 30 working days.
BSRM was listed on the Dhaka bourse in 2015. The engineering sector company belongs to the “A” category.
The sponsor-directors own 57.11 per cent stake in the BSRM, while institutional investors own 4.65 per cent, foreign investors 30.58 per cent and the general public 7.66 per cent as on March 30, 2016.
The company disbursed 5.0 per cent cash and 10 per cent stock dividend for the year ended on December 31, 2015.
The company has also reported net profit of BDT 827.67 million, basic earnings per share (EPS) of BDT 4.78 and diluted EPS of BDT 4.75, net asset value (NAV) per share of BDT 55.28 and net operating cash flow per share (NOCFPS) of BDT (10.16) for the year ended on December 31, 2015 as against BDT 109.09 million, BDT 0.70, BDT 0.68, BDT 54.10 and BDT (5.43) respectively for the year ended on December 31, 2014.
In 2014, the company distributed 10 per cent cash dividend.
The company’s paid-up capital is BDT 1,950.98 million and authorised capital is BDT 5,000 million, while total number of securities is 195,097,717, according to statistics from the DSE.
BSRM was followed by United Power generations and Distribution Company with shares worth nearly BDT 802 million changing hands, followed by MJL BDT 773 million, Jamuna Oil BDT 521 million, Keya Cosmetics BDT 472 million and ACI BDT 451 million
Doreen Generations and Systems was also included in the week’s top ten turnover list with shares worth BDT 367 million changing hands, followed by Meghna Petroleum BDT 324 million, Square Pharmaceuticals BDT 320 million and Power Grid Company BDT 291 million.
Among the top ten turnover companies, share prices of Jamuna Oil and Meghna Petroleum appreciated, while eight other companies faced price erosion with BSRM featured in the week’s top loser’s list, plunging by 19.64 per cent.
BBN/SSR/AD