Stock profit booking continues

A tendency to take out profits continued to prevail in the stock market yesterday as had been in the last couple of days. The DSEX, the Dhaka Stock Exchange’s (DSE) benchmark index, dropped 48.71 points, or 0.83 per cent, to 5,801.72 yesterday. Institutional investors are also pouring in their funds, he added. Turnover, an important indicator of the stock market, plunged 36 per cent to Tk 1,519 crore. ADN Telecom topped the gainers’ list, rising 9.82 per cent, followed by Associated Oxygen, New Line Clothings, National Feed Mills and Asia Insurance. Beximco topped the turnover list with trade worth Tk 249 crore followed by Robi Axiata, LankaBangla Finance, Beximco Pharmaceuticals and Summit Power. Savar Refractories shed the most, dropping 9.61 per cent, followed by Alltex Industry, Robi Axiata, Alif Manufacturing and Union Capital. The Chattogram bourse also fell yesterday. The general index of Chittagong Stock Exchange (CSE), the CASPI, dropped 173.58 points, or 1.01 per cent. Among the 255 stocks witnessing trade, 43 advanced, 162 fell and 50 remained unchanged.

Source: https://www.thedailystar.net/business/news/stock-profit-booking-continues-2030221

Mr. Ahmed Jamal appointed director of Bangladesh Bank

Mr. Ahmed Jamal, Deputy Governor of Bangladesh Bank, was appointed as a director on the board of directors and member of the executive committee of Bangladesh Bank for three years. The Financial Institutions Division under the Ministry of Finance issued a notification in this regard on Sunday.

Source: https://today.thefinancialexpress.com.bd/stock-corporate/ahmed-jamal-appointed-director-of-bangladesh-bank-1610990032

Energypac Power makes debut trading today

Energypac Power Generation will make its shares trading debut today (Tuesday) on Dhaka Stock Exchange and Chittagong Stock Exchange under “N” category. DSE trading code for Energypac Power is “EPGL” and company code is 15,322 while CSE code is “EPGL” and scrip ID is 20,022, according to official disclosures on Monday. Energypac Power raised Tk 1.50 billion under the book-building method by issuing a total of 40.30 million ordinary shares to expand its LPG business, repay some bank loans and bearing the IPO expenses. The stock market regulator — Bangladesh Securities and Exchange Commission (BSEC) — approved the company’s IPO proposal on October 21, 2020. The IPO subscription for shares of the company was held between December 7 and December 13, 2020.Its IPO was oversubscribed by 6.91 times. The cut-off price of Energypac shares had been fixed at Tk 35 each. However, general investors, including non-resident Bangladeshis, got IPO shares at a 10 per cent discount on the cut-off price of Tk 31 each. As per un-audited Q1 consolidated financial statement, the company’s profit after tax is Tk 66.48 million and basic EPS of Tk 0.44 for the period for July-September, 2020 as against profit after tax of Tk 131.61 million and basic EPS of Tk 0.88 for the same period of the previous year. However, post-IPO basic EPS for the period of July-September 2020) ended on 30 September 2020 would be Tk 0.35. The pre-IPO net asset value (NAV) per share (considering pre-IPO paid up shares) is Tk 50.43 as on 30 September 2020 and the same is Tk 47.64 (considering post-IPO paid up shares). The company’s pre-IPO paid up capital is more than Tk 1.49 billion and authorised capital is Tk 5.0 billion. Apart from LPG business expansion and loan repayment, the company’s IPO proceeds will be used to bear the cost of the public offering process.

Source: https://today.thefinancialexpress.com.bd/stock-corporate/energypac-power-makes-debut-trading-today-1610989918

BEZA to add six more services to OSS platform this month

Bangladesh Economic Zones Authority (BEZA) is set to add six more services to its virtual One-Stop Service (OSS) platform this month, aiming to facilitate investment in the economic zones. With the new ones, a total of 54 services related to operation of an industrial unit in the economic zone will be available online, officials familiar with the development said. New services include no objection certificate (NOC) for establishment of power plant, NOC for construction of water treatment plant, NOC for construction of central effluent treatment plant, NOC for construction of sewage treatment plant, TIN certification and construction permit. When contacted, BEZA Executive Chairman Paban Chowdhury on Monday said the investment promotion agency (IPA) is adding services as per its commitment to investors. Unlike the IPAs in other countries such as India and Vietnam, BEZA is offering so many services from its physical and virtual OSS platforms. BEZA is offering 125 services related to making investment in the economic zones (EZs) from its brick-and-mortar OSS center located at its head office in the city’s Kawran Bazar area. Of the total, 48 types of services including project registration, project clearance, trade licence, import permit and export permit have also been made available on virtual OSS. As of January 7 this year, BEZA OSS platform provided a total of 10,721 services including 58 project clearances, 7,910 import permits, 1,514 export permits, 788 visa recommendations and 342 work permits, according to the official data. BEZA, an entity under the Prime Minister’s Office (PMO), launched its OSS in October 2019. Since then, it has been adding more services to the platform. The government enacted One-stop Service Act in February 2018 on the back of an initiative taken by BEZA in 2015.

Source: https://today.thefinancialexpress.com.bd/trade-market/beza-to-add-six-more-services-to-oss-platform-this-month-1610989363

UCB opened two sub-branches

The United Commercial Bank Limited (UCB) opened two sub-branches at Monipur Uchcha Vidyalaya & College, Dhaka (Main Campus – Boys & College Bhaban, Rupnagar) on Sunday. State Minister for Industries Kamal Ahmed Mojumder along with UCB Managing Director Mohammed Shawkat Jamil inaugurated the sub-branches as the chief guest.

Source: https://today.thefinancialexpress.com.bd/trade-market/ucb-opened-two-sub-branches-1610989635