Doreen Power dominates DSE turnover chart last week

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Dhaka, Bangladesh (BBN)– Doreen Power Generations and Systems dominated the week’s transaction chart of Dhaka Stock Exchange (DSE) last week that ended on Thursday as investors took position its shares amid optimism.
The total turnover for week stood at BDT 28.31 billion on the Dhaka bourse last week, which was 0.37 per cent lower than the previous week.
According to statistics available with the DSE, some 11.80 million Doreen Power shares were traded last week, generating a turnover of nearly BDT 1.52 billion, which was 5.35 percent of the week’s total transaction.
The daily average turnover for the power generation company was BDT 379 million.
The company’s share price closed at BDT 131.60 on Thursday, the last trading session of the week, advancing 8.85 percent over the week before.
Market insiders said despite the market closed lower, some optimistic investors took position on power sector’s shares amid dividend expectation as the company’s year-end in June.
The company has reported un-audited consolidated earnings per share for January-March, 2017 period of BDT 2.03 as against BDT 0.06 (restated) for January-March, 2016.
Consolidated EPS in nine months for July, 2016 to March, 2017 was BDT 5.69 as against BDT 0.35 (restated) for July, 2015-March, 2016.
The company disbursed 10 percent cash dividend for all shareholders excluding the sponsors/directors and 20 percent stock dividend for all shareholders for the year ended on June 30, 2016.
Doreen Power, which raised BDT 580 million through initial public offering (IPO) by floating 20 million ordinary shares, was listed on the stock exchanges in early April, 2016.
The company’s paid-up capital is BDT 960 million and authorised capital is BDT 2.0 billion, while the total number of securities is 96 million.
The sponsor-directors own 75 percent stake in Doreen Power, while institutional investors own 5.45 percent, and general public 19.55 percent as on April 2017, the DSE data shows.
Doreen Power was, followed by LankaBangla Finance with about 18.05 million shares of BDT 947 million changing hands, followed by United Power BDT 687 million, Argon Denims BDT 629 million, Shahjibazar Power Company BDT 574 million and National Feed Mills BDT 550 million.
Ratanpur Steel Re-rolling Mills was also included in the top ten turnover companies with 6.25 million shares of BDT 541 million changing hands, followed by ONE Bank with BDT 529 million, FAS Finance BDT 515 million and Bangladesh Finance and Investment BDT 503 million.

BBN/SSR/AD