Dhaka, Bangladesh (BBN)– Beximco Pharma Limited dominated the top turnover list for the third straight weeks on the Dhaka Stock Exchange (DSE) last week that ended on Thursday.
Some 8.02 million shares of the company worth BDT 680 million changed hands on the Bangladesh’s prime bourse last week.
Share price of the company closed at BDT 84.1 on Thursday, registering an increase of 1.20 percent over the previous week.
Market insiders said the recent news of least developed countries’ (LDC) exemption from paying patent drugs royalty till 2032 might have attracted the investors to take position in pharmaceuticals stocks in recent times.
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 earning 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 Quasem Drycells with shares worth BDT 617 million, Emerald Oil BDT 545 million, ACI BDT 543 million and Beximco BDT 531 million.
Square Pharma also came to the top ten turnover list with shares of BDT 501 million changing hands followed by Singer BD 403 million, Summit Alliance Port BDT 353 million, BSRM Steels BDT 336 million and KDS Accessories BDT 328 million.
Among the top ten turnover companies, share prices of eight companies – Beximco Pharma, Quasem Drycells, Emerald Oil, ACI, Beximco, Summit Alliance Port, BSRM Steels and KDS Accessories appreciated while Square Pharma and Singer BD’s price fell.
BBN/SSR/AD