HeidelbergCement witnessed a 38pc stock price surge in six days

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Heidelberg Cement, witnessed a 38 per cent surge in their share value in the last six days. The stock price increased to Tk233.6, from Tk168.6 each. The German cement maker incurred massive losses in the first nine months of 2020.

Heidelberg Cement Bangladesh Limited is a sister concern of HeidelbergCement Group from Germany.

The company’s sales declined by 10 per cent amid the Covid-19 pandemic in the January-September period. Again, it faced a negative net profit, in the same time of the previous year.

However, the share price unusually roared from 11-20 April for the recent price hike of cement – according to the Dhaka Stock Exchange (DSE) although HeidelbergCement claimed there was no price sensitive information behind the unusual price hike.

Meanwhile the company stated its board of directors will meet on 28 April (Wednesday). 

In addition, HeidelbergCement was listed on the stock market in 1989 and is now placed in the `A’ category.

As of February 2021, of a total of 56,503,590 shares, sponsors and directors held 60.67 per cent shares, institutional investors 26.24 per cent, foreign investors 0.51 per cent, and the general public, 12.58 per cent.

The company meets 13 per cent of the country’s cement demand from its two plants located in Dhaka and Chattogram.

As per the financial statements, in the first nine months of last year, its sales stood at Tk810.63 crore, which was Tk899.93 crore in the same period the previous year.

In the meantime, the company has faced a loss of Tk17.07 crore while loss per share stood at Tk3.02.

Its net profit was 94.09 lakh and earnings per share was Tk0.17 during the same time frame the previous year.

Again, the company fell into losses in 2019 and did not pay any dividends to its shareholders.

Source:

THE BUSINESS STANDARD

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