Stocks rise despite floor price removal
The country’s stock market rose yesterday thanks to a boost in confidence among institutional investors, despite the removal of floor prices of all listed companies. The DSEX, the benchmark index of the Dhaka Stock Exchange (DSE), rose by 16 points, or 0.27 per cent, to 6,069. The market regulator had initially lifted the floor price of 66 companies in April. On March 19 last year, the BSEC imposed floor prices for all stocks by calculating their average prices of the preceding five days of trade to stop the index from falling amid the pandemic. Although most market analysts and foreign investors criticised the decision, general investors welcomed it and repeatedly urged for the policy to be retained. Turnover, an important indicator of the market, dropped 0.64 per cent, to Tk 1,835 crore. At the DSE, 156 companies advanced, 179 declined, and 38 remained unchanged. Monno Fabrics topped the gainers’ list, rising 10 per cent, followed by National Feed Mills, Salvo Chemical Industry, Monospool Paper Manufacturing Company and Tamijuddin Textile Mills. Royal Tulip Sea Pearl Beach Resort & Spa shed the most, dropping 9.98 per cent, followed by SK Trims and Industries, Samata Leather Complex, Prime Finance First Mutual Fund and Central Insurance. Chittagong Stock Exchange also advanced yesterday. The CASPI, the general index of the port city bourse, rose 12.89 points, or 0.07 per cent, to 17,583. Among 304 stocks to witness trade, 117 advanced, 151 fell, and 36 remained unchanged.
16 mw rooftop solar power plant opens at KEPZ in Ctg
The Korean EPZ (KEPZ) in Chattagram has initiated operations of the country’s largest 16 megawatt (MW) solar rooftop power plant Sunday. This is the first such rooftop solar power plant in any EPZ (export processing zone) across the country. This plant was built under net metering system through which the owner built the plant at its own cost and sales the access electricity to national power grid. Renewable energy will be the main source of energy in future, said Mr Hamid, while speaking on the occasion. Around 40 per cent of the country’s total electricity generation will come from renewable energy sources by 2041. Currently 730 MW, or around 3.65 per cent of the country’s total electricity generation comes from renewable energy. Ambassador of Korean Republic in Bangladesh Lee Jang Keun and KEPZ chairman Kihak Sung also spoke on the occasion.
SIBL opens ten agent banking outlets
Social Islami Bank Limited inaugurated ten new agent banking outlets at Ghaniar Char Bazar, Rajar Bazar, Ratanpur Bazar, Kurbanpur Bazar (Cumilla), Maizbag Bazar (Mymensingh), Fakira Bazar (Cox’s Bazar), Jirtoli Bazar, Lemuya Bazar (Noakhali), Thakur Bari More Bazar (Narsingdi) and Char Lorance Bazar (Laxmipur) recently through a virtual platform.