Dhaka, Bangladesh (BBN) – IFAD Autos Limited witnessed the highest market participation last week on the Dhaka Stock Exchange (DSE) that ended on Thursday.

A total of 10.34 million shares of the company were traded worth BDT 1.06 million changing hands during the week.
Daily average turnover for the automobile dealer was BDT 320 million.
The company’s share closed at BDT 107.7 on Thursday, the last session of the week, registering a decline of 12.22 per cent over the previous week.
“Some investors released their holdings of IFAD Autos, even at lower prices while some optimistic investors took position on it, which contributed to higher turnover,” said an analyst.
Meanwhile, the company showed impressive first quarter earnings, which declaration on Monday.
As per un-audited Q1 declaration, earnings per share (EPS) for July-September, 2015 was BDT 1.81 as against BDT 0.59 for July-September, 2014.
The recent news that the company will assemble 1,000 luxury and corporate buses in its own factory in Dhamrai in the next one year also encouraged some investors to inject fresh fund on its shares.
IFAD Autos provides a full line of heavy duty trucks, buses and light cargo vehicles from Ashok Leyland of India as sole representative in Bangladesh since 1985.
The company was listed on the Dhaka bourse in January 2015 and belongs to the category of ‘N’.
The engineering sector company floated 21.25 million ordinary shares of BDT 10 each at an offer price of BDT 30, including Tk 20 as premium and raised a fund worth BDT 637.50 million from public in November last year.
Of the total shares, 62.77 percent held by sponsor/directors, 20.6 percent held by institutional investors while rest of 16.63 percent held by public, according to DSE website information.
IFAD Autos was followed by Saif Powertec BDT 903 million, Titas Gas BDT 697 million, Beximco Pharma BDT 635 million, Olympic Industries BDT 534 million and KDS Accessories BDT 470 million.
Quasem Drycells also came to the top turnover list with shares worth BDT 429 million changing hands followed by Beximco BDT 387 million, Square Pharma BDT 352 million and BSRM Steels BDT 329 million.
BBN/AI/AD