Fortune Shoes generates highest turnover on DSE
Ten cos account for 29pc transaction
FE Report | September 25, 2019
Ten most traded companies captured 29 per cent transactions on the Dhaka Stock Exchange (DSE) on Tuesday, with the Fortune Shoes making it to the top of the turnover list.
Market analysts said investors mostly went on selling Fortune shares as the company’s share price recently soared ‘abnormally’ which prompted many investors to book profit.
The Fortune’s share price rose to Tk 42.80 each last month, hitting one year highest, following the news that the company signed an agreement with Steve Madden for export of shoes worth US$ 4.0 million (Tk 340 million), which is scheduled to be shipped by October this year.
According to data available with the DSE, about 6.47 million shares of Fortune Shoes were traded on Tuesday, generating a turnover of Tk 197 million, making up 4.85 per cent of the DSE’s total turnover.
The total turnover on the DSE stood at Tk 4.05 billion on the day, down from Tk 5.17 billion in the previous day.
The shoemaker’s share traded between Tk 29.80 and Tk 33.10, before closing at Tk 29.90 on Tuesday, losing 9.12 per cent over the previous day.
The company’s share was traded between Tk 27.90 and Tk 42.80 in the last one year.
For the nine-month period from July 2018 to March 2019, the company’s EPS was Tk 1.67 as against Tk 1.19 for the same period of the previous fiscal.
Grameenphone came second on the turnover chart, with shares worth Tk 171 million changing hands. The company’s share closed at Tk 358.40, shedding 1.21 per cent over the previous day.
