0.19m BO accounts in two months added
The number of new beneficiary owner (BO) accounts continued to rise as the stock market is showing a signs of stability after the latest market debacle in 2010-2011. Market operators attributed the rising trend of new BO accounts to higher number of initial public offerings (IPOs) and stability in the secondary market under the new leadership of the securities regulator.Around 190,480 new BO accounts were opened in the just two months, according to data of the Central Depository Bangladesh Limited (CDBL), which preserves electronic data of all individual and institutional investors.Total number of BO accounts increased to 2,543,453 as of December 24, which was 2,352,973 two months back on October 24, the CDBL data shows. Of the total number of active BO accounts, male investors own 1,871,581 and female investors own 658,082 while the remaining 13,790 belong to different companies as of December 24, 2020, the CDBL data shows. Currently, there are 1,624,144 individual accounts and 905,519 joint accounts. The non-resident Bangladeshis won 155,480 accounts to conduct share transactions or to apply for IPO shares.DSEX, the core index of the Dhaka Stock Exchange (DSE) surged 1,158 points or 28.52 per cent in seven months since the market resumed on May 31, after remaining shut in more than two months due to Covid-19 pandemic.Currently, an investor has to pay Tk 450 per annum to keep his/her BO account active. Of the Tk 450, the CDBL gets Tk 100, while the government, DP and BSEC get Tk 200, Tk 100 and Tk 50 respectively.
Beximco Pharma shares perk up on vaccine deal
Beximco Pharma has been the top choice for stock investors in the last few weeks as they believe the drug producer will make higher profits in the days to come with the administering of a Covid-19 vaccine in Bangladesh. Stock price of the local drug maker rose 58 per cent to Tk 174 in a span of the past three months. Piggybacking on the upward trend in pharmaceutical and insurance sectors, the DSEX, the benchmark index of Dhaka Stock Exchange, rose 110 points or 2.16 per cent before closing the week at 5,218. During the period, average daily turnover, another important indicator of the stock market, rose around 23 per cent to Tk 1,124 crore from that the previous week.Net sales of the company—that holds an 8.5 per cent share of the country’s Tk 230 billion pharma market—rose 12.3 per cent year-on-year to Tk 2,561 crore in 2019-20. Its profit rose 16.6 per cent year-on-yeartoTk 354 crore in the last financial year, according to its annual report.Once the vaccine is approved for human application, Beximco Pharma will buy each dose from Serum for $4 and then supply it to the government for $5.Beximco, that holds around 29 lakh shares of the drug making company, topped the turnover list of the DSE last week followed by Beximco Pharmaceuticals, IFIC Bank, LafargeHolcim and Orion Pharmaceuticals. Beximco led the gainers’ list also with a 44 per cent rise in share price in a week while Dominage Steel shed the most with an 18.78 per cent fall.Among the market capitalisation leaders, Beximco Pharmaceuticals rose 12.8 per cent and Square Pharmaceuticals 3.5 per cent last week.Among the sectors, non-life insurance companies topped the gainers’ list. Stocks of the insurance sector rose 6.38 per cent while pharmaceuticals soared around 3 per cent.
ACI approves 80pc cash, 10pc stock dividend
The 47th Annual General Meeting of Advanced Chemical Industries Limited was held on Thursday through a digital platform.The Audited Financial Statements for the year ended 30 June 2020 together with Reports of the Directors and Auditors of the company were approved by the shareowners in the meeting. They have also approved 80 per cent cash dividend and 10 per cent stock dividend for the said financial year.
BSRM Steels approves 15pc cash dividend
The 18th Annual General Meeting of BSRM Steels Limited was held recently on a digital platform. The meeting was presided over by AlihussainAkberali FCA, Chairman of the Company. The chairman welcomed all shareholder to the 18th Annual General Meeting. In his welcoming speech, he stated that the company could not achieve expected profit due to the Covid-19 pandemic.Audited Accounts for the financial year 2019-20 along with the Report of the Board of Directors were approved in the meeting. Shareholders of the company attended virtually the meeting, approved the appointment of Directors, Professional Accountant & Auditors for the year 2020-21.