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Dhaka Tribune

Appollo Ispat DSE market leader for second day

Update : 26 Dec 2013, 05:51 PM

The newly listed Appollo Ispat Complex Ltd continued to occupy the top position in the turnover list for the second straight session.

Its shares worth over Tk31 crore was changed hands, accounting for more than 8% of the total DSE turnover. However, in its second day trading, the company’s share prices dropped 0.26% to Tk38.

Its price movement ranged between Tk37.6 and Tk41.5 during the trading session.

According to its quarterly financial report ended in September this year, the company reported net profit over Tk9.8 crore, which is marginal profit from Tk9.7 crore in the same period a year ago.

Annual profit of the company in 2012 was Tk35.4 crore, an increase of 25% from Tk28.2 crore recorded in 2011 due to higher turnover and decreased in the financial expenses, according to the company’s IPO prospectus.

The corrugated iron sheet manufacturer accounts for 20% of the total market share of the iron sheet industry, said the prospectus.

During the period, the company’s earnings per share (EPS) is Tk0.40 against Tk0.64 calculated based on weighted average pre-IPO paid-up number of shares. The stock’s price to earnings ratio stood at 23.75 as of yesterday.

Currently the sponsors hold 30.47%, public 36% and institutional investors rest stake of the company.  

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