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The Financial Express

Fortune Shoes tops turnover chart for third straight day

Ten cos grab 28pc of transactions


| Updated: February 28, 2019 11:38:02


Fortune Shoes tops turnover chart for third straight day

Ten most traded companies grabbed more than 28 per cent of turnover of the Dhaka Stock Exchange (DSE) on Thursday, with Fortune Shoes remaining at the top of the chart for the third straight session.

Market analysts said investors kept their appetite for Fortune Shoes shares as it posted 41.25 per cent growth in earnings for July-December period of 2018.

The earnings per share (EPS) rose to Tk 1.13 for July-December 2018 as against Tk 0.80 for the same period of 2017.

According to statistics from the DSE, about 19.52 million shares of Fortune Shoes were traded, generating a turnover of nearly Tk 750 million, which was 8.04 per cent of the DSE's total turnover.

The total turnover on the DSE stood at Tk 9.32 billion on Thursday, which was Tk 7.12 billion in the previous session.

The shoe maker's share price closed at Tk 39 on Thursday, gaining 5.06 per cent over the previous day.

The Fortune Shoes, listed on the DSE in 2016, disbursed 15 per cent stock dividends for the year ended on June 30, 2018.

The company's paid-up capital is Tk 1.24 billion, authorised capital is Tk 1.50 billion and the total number of securities is 124.93 million.

On Wednesday, the Credit Rating Information and Services Ltd (CRISL) rated the company as "A-" in the long term and "ST-3" in the short term along with a stable outlook.

CRISL rated in consideration of its audited financials up to June 30, 2018, unaudited financials up to December 31, 2018 and other relevant quantitative as well as qualitative information up to the date of rating declaration.

The sponsor-directors own 30.56 per cent stake in the company, while institutional investors own 20.63 per cent and the general public 48.81 per cent as of January 31, 2109.

The United Power came in second, with shares worth Tk 496 million changing hands. Its share closed at Tk 393.10 each, losing 1.42 per cent over the previous session.

Simtex Industries clinched the third spot, with shares worth Tk 206 million changing hands. The company's share rose 8.50 per cent to close at Tk 37 each.

Nurani Dyeing emerged fourth with shares worth Tk 202 million changing hands. Its share closed at Tk 19.80, advancing 2.59 each.

Bangladesh Submarine Cable Company notched the fifth spot, with shares worth Tk 182 million changing hands. The state-run company's share advanced 1.54 per cent to close at Tk 150.80.

The turnover of Paramount Textile was Tk 166 million. The company's share price edged up by 0.68 per cent to close at Tk 74.30 each.

SK Trims Industries featured a turnover of Tk 161 million. The company's share price closed at Tk 53.30 each, soaring 8.11 per cent.

The turnover of Monno Ceramic was Tk 158 million. The company's share closed at Tk 332.20 each, losing 1.74 per cent.

Global Insurance featured a turnover of Tk 140 million. The company's share price soared 10 per cent to close at Tk 24.20 each. It was also the day's second highest gainer.

Shuwrid Industries also made its way to the top 10 turnover chart, with shares of Tk 134 million changing hands. The company's share price closed at Tk 39.70, gaining 3.11 per cent.

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