Stock Market Peaks in Two Months on Linde and Renata Surge

Industry: Stock Market
Company: Linde Bangladesh Limited, Renata Limited
Company Intelligence Tag: Business Insights

Bangladesh’s stock market surged 1.6%, led by gains in blue-chip firms like Linde Bangladesh and Renata PLC. The DSEX index rose by 82.75 points to 5,244, its highest single-day increase since April 28. Linde Bangladesh soared 43% to Tk 1,409 after announcing a 1,540% interim dividend for January-October 2023. Renata PLC climbed 7.49% following news of its first drug shipment to the UK.

Investor confidence in MNCs and blue-chip stocks strengthened amid economic challenges and currency depreciation. The DS30 index for blue-chip firms rose 1.7% to 1,875, while the DSES Shariah index increased 2.21% to 1,146. Turnover surged to Tk 452 crore, up 83.79% from the previous session, as investors returned to the market after recent declines. Linde Bangladesh’s dividend announcement, despite lower profits from reduced sales and higher raw material costs due to currency depreciation, highlighted market dynamics.

Source for more details:

Related News

MTB Profit Jumps by 59% in Q3

November 9, 2024

Mutual Trust Bank (MTB) reported strong Q3 2024 results, with a 17.54% increase in deposits to Tk 309 billion and a 59.15% surge in profit before tax. The bank’s operating profit for the first nine months rose 33.38% YoY, while EPS increased to Tk 2.07. With a stable CRAR of 14.08%, MTB has earned numerous awards, including 'Top Sustainable Bank' and 'Best Bank in Bangladesh,' reflecting its resilience and customer trust.

BPC Pays Off $578M Debt in Three Months

November 9, 2024

The Bangladesh Petroleum Corporation (BPC) has cleared $578 million in unpaid foreign bills over the past three months by opening letters of credit (LCs) with private banks, improving payment timeliness and negotiating power. This shift reduced reliance on state-owned banks and helped BPC avoid further debt accumulation. BPC is set to sign a six-month oil supply contract in December, strengthening its position in future negotiations.

Eastern Lubricants Declares 90% Dividend

November 9, 2024

Eastern Lubricants Blenders PLC has announced a 90% dividend for FY 2023-24, comprising 80% cash and 10% stock. The company’s EPS rose to Tk 24.82, up from Tk 19.81 last year. The AGM will be held on February 8, 2025, with a record date of December 9, 2024. In Q1 of FY 2024-25, EPS reached Tk 6.13, a sharp increase from Tk 1.97 in the previous year.

Premier Cement to Raise Tk 1.61 Billion via Preference Shares

November 9, 2024

Premier Cement plans to raise Tk 1.61 billion by issuing preference shares to reduce high-interest debt. The shares, redeemable over five years, aim to ease finance costs, which have surged due to rising interest rates. The issuance targets banks and high-net-worth individuals and awaits BSEC approval. In FY24, the company returned to profit with a 23% sales increase, leading to a Tk 742 million profit, and declared a 21.5% dividend.

Beximco Green-Sukuk Holders Can Convert 20% to Ordinary Shares

November 9, 2024

Investors holding Beximco Green-Sukuk Al Istisna'a can convert 20% of their sukuk into Beximco Ltd's ordinary shares, with a record date set for December 22, 2024. This conversion option was announced by Beximco Green-Sukuk Trust, a special purpose vehicle, following its meeting with the Investment Corporation of Bangladesh, the sukuk trustee.

Pharma Aids Posts Tk 61 Million Profit in FY24

November 9, 2024

Pharma Aids turned around in FY24, reporting a profit of Tk 61 million, up from a loss of Tk 6.4 million in the previous year, driven by higher sales, increased prices, and toll manufacturing. Earnings per share (EPS) rose to Tk 19.61 from a loss of Tk 2.05.

Related News

MTB Profit Jumps by 59% in Q3

November 9, 2024

Mutual Trust Bank (MTB) reported strong Q3 2024 results, with a 17.54% increase in deposits to Tk 309 billion and a 59.15% surge in profit before tax. The bank’s operating profit for the first nine months rose 33.38% YoY, while EPS increased to Tk 2.07. With a stable CRAR of 14.08%, MTB has earned numerous awards, including 'Top Sustainable Bank' and 'Best Bank in Bangladesh,' reflecting its resilience and customer trust.

BPC Pays Off $578M Debt in Three Months

November 9, 2024

The Bangladesh Petroleum Corporation (BPC) has cleared $578 million in unpaid foreign bills over the past three months by opening letters of credit (LCs) with private banks, improving payment timeliness and negotiating power. This shift reduced reliance on state-owned banks and helped BPC avoid further debt accumulation. BPC is set to sign a six-month oil supply contract in December, strengthening its position in future negotiations.

Eastern Lubricants Declares 90% Dividend

November 9, 2024

Eastern Lubricants Blenders PLC has announced a 90% dividend for FY 2023-24, comprising 80% cash and 10% stock. The company’s EPS rose to Tk 24.82, up from Tk 19.81 last year. The AGM will be held on February 8, 2025, with a record date of December 9, 2024. In Q1 of FY 2024-25, EPS reached Tk 6.13, a sharp increase from Tk 1.97 in the previous year.

Premier Cement to Raise Tk 1.61 Billion via Preference Shares

November 9, 2024

Premier Cement plans to raise Tk 1.61 billion by issuing preference shares to reduce high-interest debt. The shares, redeemable over five years, aim to ease finance costs, which have surged due to rising interest rates. The issuance targets banks and high-net-worth individuals and awaits BSEC approval. In FY24, the company returned to profit with a 23% sales increase, leading to a Tk 742 million profit, and declared a 21.5% dividend.

Beximco Green-Sukuk Holders Can Convert 20% to Ordinary Shares

November 9, 2024

Investors holding Beximco Green-Sukuk Al Istisna'a can convert 20% of their sukuk into Beximco Ltd's ordinary shares, with a record date set for December 22, 2024. This conversion option was announced by Beximco Green-Sukuk Trust, a special purpose vehicle, following its meeting with the Investment Corporation of Bangladesh, the sukuk trustee.

Pharma Aids Posts Tk 61 Million Profit in FY24

November 9, 2024

Pharma Aids turned around in FY24, reporting a profit of Tk 61 million, up from a loss of Tk 6.4 million in the previous year, driven by higher sales, increased prices, and toll manufacturing. Earnings per share (EPS) rose to Tk 19.61 from a loss of Tk 2.05.

BUSINESSMONITOR

Connect with


Dont Have Account? Please register Here