DSE trading building in Dhaka
Dhaka, Bangladesh (BBN)- Khulna Power Company Ltd (KPCL) dominated the Dhaka bourse’s turnover chart for the fourth straight week that ended on Thursday.
Market insiders said investors were active on Khulna Power’s shares almost throughout the week amid expectation of higher dividend declaration ahead.
According to statistics available with the DSE, about 32.17 million shares of KPCL were traded, generating a turnover of BDT 4.41 billion, which was 11.34 percent of the week’s total turnover.
Top ten companies grabbed more than 41 percent transaction of the Dhaka Stock Exchange’s total turnover.
The total turnover on the DSE stood at BDT 38.94 billion last week which was BDT 28.79 billion on the previous week.
The power generation company’s share price closed at BDT 136.30 each on Thursday, the last trading day of the week, soaring 6.73 percent over the week before.
Share price of Khulna Power also soared 100 percent or BDT 68.30 each within three months.
The power generation company’s share traded between BDT 53 and BDT 144.90 each in the last one year.
Following the recent price hike of the company’s share, the DSE served show-cause notice on the company several times.
However, the company informed the DSE that there is no undisclosed price sensitive information for recent unusual price hike of its shares.
Khulna Power, which was listed on the DSE in 2010, disbursed 55 percent cash dividend in 2017. In 2016, it paid 75 percent cash dividend.
The company’s earnings per share (EPS) stood at BDT 1.21 for January-March 2018 as against BDT 1.40 for January-March 2017.
In nine months for EPS was BDT 3.93 for July 2017-March 2018 as against BDT 3.91 for July 2016-March 2017.
Recently, Credit Rating Information and Services Ltd (CRISL) has rated the company as “AAA” in the long-term and “ST-1” in the short-term along with a stable outlook based on audited financial statements of the company up to June 30, 2017.
The company’s paid-up capital is BDT 3.61 billion, authorised capital is BDT 7.0 billion and the total number of securities is 361.28 million.
The sponsor-directors own 70.59 percent stake in the company while institutional investors own 10.70 percent, foreign investors 0.78 percent and the general public 17.93 percent as on August 31, 2018, the DSE data shows.
United Power followed next, with shares worth BDT 2.14 billion changing hands, followed by Summit Power BDT 2.14 billion, Dragon Sweater BDT 1.26 billion, Active Fine Chemicals BDT 1.23 billion, BBS Cables BDT 1.20 billion and Olympic Industries BDT 1.14 billion.
Singer Bangladesh was also included in the top ten turnover chart with shares of BDT 990 million changing hands, followed by IFAD Autos BDT 972 million and Confidence Cement BDT 717 million.
BBN/SSR/SR