Dhaka, Bangladesh (BBN)- Quasem Drycells Limited witnessed the highest market participation last week on the Dhaka Stock Exchange (DSE) that ended on Thursday as investors were active both sides of the company’s share.
Some 9.95 million shares of the company worth BDT 951.22 million changed hands on the prime bourse during the week.
Quasem Drycells, the leading battery manufacturer in Bangladesh, accounted for 4.40 percent alone of the week’s total turnover of BDT 21.68 billion on DSE.
However, the company’s share price fell 14.55 per cent to close at BDT 91 on Thursday, the last trading session of the week, over the previous week.
Market insiders said the investors continued to release their holdings of Quasem Drycells to book quick-profit while some investors took position on it, which helped the company to emerge as turnover leader.
“As the company’s share price surged 40 percent within 20 trading sessions on DSE to reach at BDT 112 on December 2, some cautious investors booked profit on it,” said an analyst.
Meanwhile, the company showed moderate growth in its first quarter (Q1) earning disclosure. As per (un-audited) Q1 earnings disclosure, earning per share (EPS) for July-September, 2015 was BDT 0.69 as against BDT 0.62 for July-September, 2014.
Quasem Drycells disbursed 10 percent stock dividend for the year ended on June 30, 2015. In 2014, the company disbursed 5.0 percent cash and 10 percent stock dividend.
The company’s paid-up capital is BDT 404.8 million and authorized capital is BDT 500 million while total number of securities is 40,479,436, according to DSE website information.
Quasem Drycells was listed on the Dhaka bourse in 1989. The engineering sector company belongs to the category of “A”.
Of the total shares – sponsor-directors own 30.05 percent, intuitions 5.45 percent and public 64.5 percent shares.
Established in 1980, Quasem Drycells is the largest drycell manufacturer in Bangladesh with new era of modern battery manufacturing technology, according to the company’s website.
After Quasem Drycells, BSRM Steels was the second highest market participation with shares worth BDT 766 million changing hands followed by Delta Life Insurance BDT 697 million and Beximco Pharma BDT 675 million.
KDS Accessories also came to the week’s top ten turnover chart with share worth BDT 570 million changing hands followed by Saif Powertec BDT 532 million, Aftab Automobiles BDT 486 million, MI Cement BDT 474 million and United Power Generation and Distribution BDT 445 million.
BBN/SSR/BB