Turnover crosses Tk 10 billion-mark
Dhaka bourse closed the Tuesday’s session marginally lower amid a down trend continued for fourth consecutive session. On the day, DSEX, the broad index of Dhaka Stock Exchange (DSE), declined as losers took control over the gainers following investors’ stance opted to book profits. The turnover, however, crossed Tk 10 billion-mark riding on general insurance sector. The market opened the session positively but after five minutes the core index failed to sustain and displayed ups and downs till mid-session. Later, the broad index lost more points amid the declining trend that continued till closure. At the end of the session, the DSEX settled at 4867.96 points with a loss of 0.49 per cent or 24.04 points. Of other indices, the shariah based index DSES declined 0.57 per cent or 6.41 points to close at 1103.05 points. DS30 index comprising blue chip securities closed at 1675.41 points with a loss of 0.44 per cent or 7.50 points.Of the major sectors which witnessed price correction, engineering declined 2.5 per cent, bank 0.52 per cent, textile 1.4 per cent, life insurance 3.6 per cent, mutual funds 1.6 per cent, and financial institutions 0.38 per cent. Of the sectors which witnessed price appreciation, general insurance advanced 4.4 per cent, fuel & power 0.1 per cent, IT 1.2 per cent and tannery 0.50 per cent. Investors’ participation was concentrated mostly on general insurance sector which featured a turnover of above Tk 3.73 billion followed by pharmaceuticals & chemicals above Tk 1.03 billion, financial institutions Tk 888.4 million, and engineering Tk 670.5 million. Beximco Pharmaceuticals topped the scrip wise turnover chart with a value of Tk 462 million followed by LankaBangla Finance Tk 355 million, Sandhani Life Insurance Company Tk 297 million, BRAC Bank Tk 261 million and BeximcoTk 257 million.On Tuesday, the CASPI, benchmark index of the Chittagong Stock Exchange (CSE), declined 0.29 per cent or 41.77 points to close at 13900.58 points. Of 273 issues traded, 94 advanced, 136 declined and 43 were unchanged. At the end of the session, the port city bourse CSE posted a turnover of above Tk 314.29 million.
Renata recommends 140pc dividend
Renata has recommended 130 per cent cash and 10 per cent stock dividend for the year ended on June 30, 2020. The company’s board of directors has made the recommendation at a meeting. The company has also said stock dividend has been recommended to utilise its retained amount as capital for manufacturing facility expansion. The company’s earnings also rose marginally for the year ended on June 30, 2020 compared to same period of the previous year. For the year ended on June 30, 2020 the company has reported earnings per share (EPS) of Tk 45.29, which was 6.84 per cent higher than the EPS of previous year. Renata has also reported consolidated NAV per share of Tk. 245.65 and consolidated NOCFPS of Tk. 52.89 for the year ended on June 30, 2020 as against Tk. 209.91 and Tk. 47.76 respectively for the same period of the previous year. In its disclosure, the company has informed that bonus shares have been recommended in view to utilise its retained amount as capital for manufacturing facility expansion.
Guardian Life inks deal with Thyssenkrupp
Guardian Life Insurance Ltd. andThyssenkrupp Elevator (BD) Private Ltd. have recently signed a group insurance agreement under which all the employees of Thyssenkrupp Elevator (BD) Private Limited will enjoy Life coverage and Medical benefits. Mr. M MMonirulAlam, Chief Executive Officer, GLIL and Mr. Angshu Prakash Banerjee, General Manager, Thyssenkrupp Elevator (BD) signed this agreement on behalf of their company. Mahmud Afsar, SVP & Head of Corporate Sales; Iftakher Ahmed, Head of CRM.
Bank Asia inks deal on fostering business incubation for women entrepreneurs
Bank Asia Ltd. and Bangladesh Institute for ICT Development (BIID) have signed an agreement aiming to foster entrepreneurship among women & rural youth through Business Incubation facility under B-Lab initiative. Around 1,00,000 women entrepreneurs will get opportunity to explore their full potential in business.Through the agreement, women who want to be entrepreneur can avail online services ‘B-Lab’ of BIID and Bank Asia will provide training on financial literacy to enhance the financial capability of those entrepreneurs. BIID also ensures training on legal, organizational, accounting, planning, distribution and quality control issues for planning and managing the business of the entrepreneurs successfully.