BATB sees stocks drop despite higher profits Star Business Report Star Business Report
Stocks of British American Tobacco Bangladesh (BATB) dropped although it announced higher profits in the first quarter (January-March) of 2021.
Its stocks closed 1.25 per cent lower at Tk 553 yesterday.
The BATB s sales rose by around 11 per cent to hit Tk 9,554 crore in the first quarter of this year, fueling the company s profits in turn.
During the January-March period, the listed multinational cigarette maker s profits surged 27 per cent to Tk 387 crore year-on-year.
The company s earnings per share (EPS) increased as well compared to the same period last year due to growth in volume and cost optimisation, the BATB said in its financial report.
Stocks snap five-day falling streak Star Business Report Star Business Report
Higher participation of investors ended the five-day falling streak of shares on the Dhaka Stock Exchange (DSE) yesterday.
The DSEX, the benchmark index of the premier bourse, rose 67 points, or 1.27 per cent to end the day at 5,385.
However, many stocks have experienced drastic falls due to the downward trend of the index, said a stock broker. As a result, many stock investors incurred losses in the last few days, he added.
Big players went after hot stocks after a gap, such as Beximco Ltd, Beximco Pharmaceuticals, Robi Axiata, and LankaBangla Finance, he pointed out.
DSE turnover nosedives to seven-month low thedailystar.net - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thedailystar.net Daily Mail and Mail on Sunday newspapers.
The Bangladesh Securities and Exchange Commission (BSEC) yesterday decided to allow floor prices of listed stocks to be revised for corporate declarations such as bonus shares or rights share issuance. On March 19 last year, the stock market regulator stipulated that the floor price of all stocks would be calculated based on their average price for the last five days, aiming
Top taxpayers honoured
Md Kaus Mia, second from right, who has been the highest taxpayer for a decade, receives a token of appreciation from State Minister for Public Administration Farhad Hossain and NBR Chairman Abu Hena Md Rahmatul Muneem at a function at NBR office in Dhaka yesterday. Photo: Star Star Business Report Star Business Report
It was a day of recognition for tax compliance and the joy of being honoured. This recognition came from the National Board of Revenue (NBR).
In a bid to encourage compliance and bring more people under the tax net in a country where avoidance and evasion are rampant, the NBR yesterday honoured the highest taxpayers with tax cards and crests for abiding the rules.