Apex Foods stands top with a 27.7% rise

Lay's, the beloved potato chips brand from PepsiCo, has launched the transformative "Lay's Make In Bangladesh" initiative in partnership with Transcom Consumer Products Ltd, demonstrating its steadfast dedication to Bangladesh. This initiative marks a momentous milestone as Lay's proudly pioneers the local production of its iconic potato chips in Bangladesh.

The Dhaka stock market experienced its largest single-day decline in nearly seven months due to panic-driven sell-offs triggered by rumors of a proposed capital gains tax on secondary market investments. Investors reacted anxiously to reports of a 15% tax on individual capital gains, prompting a rush to sell holdings.

Following the government's approval of onion imports from India, onion prices experienced a significant decline in various regions of Bangladesh. The Trading Corporation of Bangladesh reported that the local variety of onion was being sold at Tk 80 to Tk 90 per kilogram on Monday, marking a Tk 10 decrease compared to the previous day. Over the past month, prices of the local onion variety had risen by 81%, leading the agriculture ministry to allow imports to stabilize the volatile market. However the Director General of the Directorate of National Consumers Rights Protection (DNCRP), claimed that a group of traders had manipulated the market for higher profits.

Telecom operator Grameenphone has set an ambitious target to cut its carbon emissions by 50% before 2030, using 2019 emissions as a baseline. The company is actively implementing various initiatives to reduce its carbon footprint. These include enhancing energy efficiency, investing in renewable energy sources, fostering an energy-conscious culture, and collaborating with partners to minimize environmental impact, particularly in the supply chain.

Adani, an Indian power company, has encountered payment difficulties as the Power Development Board (PDB) in Bangladesh grapples with a shortage of dollars. Adani supplied 700-750 MW of electricity during the trial production period, totaling around 1.5 million units to PDB.

In the maiden post-budget session, the Dhaka Stock Exchange (DSE) witnessed a significant surge in turnover, exceeding Tk 12 billion for the first time in seven months. The market's positive performance can be attributed to the absence of any new tax provisions or cuts to existing tax facilities in the proposed budget for FY24.