Aftab increased the price of automobiles by 70 crores in four days


Out of the four trading days last week, the country’s stock market was up on three working days. As a result there has been a big rise in all the price indices. In this rising market, some companies have shown strength in raising prices. Of these, Aftab Automobile, which has shown the biggest impact, has fallen into losses.

Interest in the company peaked last week to a section of investors. As a result, the main stock market Dhaka Stock Exchange (DSE) has occupied the top place of price increase. Over the course of the week, the company’s share price has collectively increased by around Rs 70 crore.

The company’s share price increased by 21.36 percent during the last week. The price of each share has increased by Rs 6 60 paise. In this, the share price of the company increased by 69 crore 65 lakh 96 thousand taka in a week. At the end of the last working day of the week, the price of each share of the company stood at 37 50 paise, which was 30 90 paise at the end of the last working day of the previous week.

The company, whose share price has soared, last paid out a 10 percent cash dividend to investors in the year ended June 30, 2023. Before that, 5 percent cash and 5 percent bonus shares in 2022, 5 percent cash and 5 percent bonus shares in 2021. The company pays 10 percent cash dividend in 2020 and 2019. Before that, the company paid 12 percent cash dividend in 2018 and 16 percent in 2017. That is, the amount of dividend of the company has decreased from before.

Meanwhile, as per the latest published financial report, the company is in losses. The company posted a loss of 1.40 paise per share in the nine-month trading period from July 2023 to March this year. 4 paise profit per share in the corresponding period of the previous financial year.

The paid up capital of the company which was listed in the stock market in 1987 is Tk 105 crore 54 lakh. And the number of shares is 10 crore 55 lakh 44 thousand 995. Of this, 29.32 percent are held by entrepreneurs and managers. Among the remaining shares, 37.95 percent are held by ordinary investors, 32.73 percent by institutional investors.

After Aftab Automobile, Silko Pharmaceuticals was on the price hike list last week. The company’s share price increased by 20.69 percent during the week. RSRM Steel was next with a price hike of 18.05 percent.

Besides, in the list of top 10 companies with price increase last week- Gemini Sea Food 17.53 percent, Desh General Insurance 17.22 percent, Deshbandhu Polymer 17.07 percent, Saif Power Tech 16.04 percent, Hydel Berg Cement 15.75 Percent, Navana CNG prices increased by 15.45 percent and ADN Telecom by 15.43 percent.

MAS/MIHS/MS