Dhaka, Bangladesh (BBN)– Bangladesh Steel Re-rolling Mills (BSRM) dominated the top turnover chart on the Dhaka Stock Exchange (DSE) last week that ended on Thursday.

According to statistics from the DSE, some 9.42 million shares of the BSRM worth nearly BDT 1.55 billion changed hands, which was 6.89 percent of the premier bourse’s total turnover.
The average daily turnover for the company was BDT 309.55 million.

Each share of the Chittagong-based steel marker’s closed at BDT 176.5 on Thursday, the last trading session of the week, registering an increase of 20.64 percent over the previous week.
Analysts said investors took position on BSRM shares amid optimism, which helped the company to become turnover leader on the premier bourse.

Meanwhile, the Board of Directors of the company recommended 5.0 percent cash and 10 percent stock dividend for the year ended on December 31, 2015 on February 11.

The final approval will come during the annual general meeting (AGM) scheduled to be held on March 30 at 12:30pm at the Institution of Engineers Bangladesh, Chittagong Center in Chittagong.

The record date is on March 3.

The company has also reported net profit of BDT 827.67 million, basic earning 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 percent cash dividend.

BSRM was listed on the Dhaka bourse in 2015. The engineering sector company belongs to the “A” category.

The sponsor-directors own 57.11 percent stake in the BSRM, while institutional investors own 3.25 percent, foreign 30.55 percent and the general public 9.09 per cent.

The company’s paid-up capital is BDT 1773.6 million and authorised capital is BDT 5,000 million while total number of securities is 177,361,561, according to DSE figures.

The company’s total market capitalisation stood at BDT 29,725.79 million as of Thursday.

BSRM was followed by United Power Generation & Distribution Company with shares worth BDT 1.21 billion changing hands followed by Beximco Pharma BDT 872 million, Square Pharma BDT 695 million, IFAD Autos BDT 647 million, Aman Feed BDT 563 million and Lafarge Surma Cement BDT 454 million.

BSRM Steels was also included in the top ten turnover list with shares of BDT 382 million changing hands followed by Olympic Industries BDT 376 million and Khulna Power Company BDT 376 million.

Among the top ten turnover companies, Beximco Pharma, BSRM Steels and Olympic Industries faced price erosion while share prices of seven other companies appreciated with BSRM and Aman Feed featured in the top gainers’ list.

BBN/SRR/AD