Here is the summary of the important news as on 22 April 2021.
Please note that news below is taken from leading national dailies and does not reflect our view or opinion.
Ten most-traded stocks grab 48pc turnover
Bangladesh Export Import Company (Beximco) - the flagship company of Beximco Group, continued to lead the Dhaka bourse s turnover list while ten most-traded stocks grabbed 48 per cent transaction on Wednesday.
According to available data with the Dhaka Stock Exchange (DSE), about 14.94 mn Beximco s shares were traded, generating a turnover of BDT 1.30 bn, which was 16.72 per cent of the day s total turnover.
Banking stocks lose grace for high defaulted loans
Once known to many for their attractive stocks, banks are a long way from raising adequate interest among stock market investors as confidence has been sunk by high amounts of non-performing loans and low asset value.
Among the listed 31 banks, 21 are witnessing their stocks of a face value of BDT 10 being traded at less than BDT 20.
The Dhaka Stock Exchange has found 51 out of 66 applicants eligible for the bourse’s trading right entitlement certificate (TREC) and has sent their names to the Bangladesh Securities and Exchange Commission.
The DSE narrowed down the names of 51 companies eligible for TREC issued by the bourse at a board meeting held on April 20, DSE officials said.
Investors suffer for malfunctioning DSE mobile app
Investors yesterday faced prolonged malfunctioning of the DSE mobile app while trying to execute trade, all at a time when the digital mode is enabling the stock market to stay open amidst the ongoing lockdown.
As a result, mobile trading dropped yesterday. Order submission through the app dropped 38 per cent to 26,321 yesterday from that the day before.
Construction work of first private hi-tech park begins
The construction of the Korean EPZ Hi-Tech Park in Anwara upazila of Chattogram began yesterday as its owner looks to set up Bangladesh s first private enclave for information technology firms and startups.
The park will have a 41-storied IT building, which will house several software development facilities. This will create jobs for up to 20,000 people when fully implemented, said the statement of the KEPZ Bangladesh.
Grameenphone, the country s biggest mobile phone operator, saw its net profit drop 16 per cent year-on-year to BDT 8.90 bn in the January-March quarter of 2021, impacted by a reduction in inter-connection revenue and economic uncertainties from Covid-19.
The telecom operator reasons higher finance cost and tax expense last year.
A fast-track coal-fired power project, taken up for implementation in 2014, is likely to be delayed by three and a half years with 46 per cent cost overrun, according to knowledgeable sources.
They said the project titled "Construction of 2X600MW ultra-super critical coal-based power plant at Matarbari" has included some fresh components such as township development and dredging of a channel. This would cause implementation delays as well as increase in expenditure.