After the downfall of the Sheikh Hasina-led authorities, Grameenphone stock, the supreme in the nation’s capital market ,turned more exquisite to investors, riding the market cap of the nation’s supreme telecom operator up by around Tk14,000 crore on the Dhaka Inventory Commerce (DSE).
On August 4, Grameenphone’s half impress became once Tk247.20 and its market capitalisation became once Tk33,379 crore. Alternatively, following the authorities’s descend, its half impress surged over Fifty three% to reach Tk379.20, marking a 39-month excessive at some level of seven consecutive classes, ending on 14 August.
Per DSE knowledge, after August 14, Grameenphone’s stock rally slowed, as its shares underwent corrections which potential that of promoting rigidity from income-booking by investors. On Sunday, its shares closed at Tk349.30, down 8% from the pause. Despite this, its market cap stays Tk13,787 crore better than its effect on 4 August. Additionally, it has secured a draw in the pause five turnover listing at some level of each session since 4 August.
At the shut of the trading session currently, Grameenphone’s market capitalisation reached Tk47,166 crore, accounting for 12.1% of the total market cap on the Dhaka bourse.
Market contributors talked about that after the political switch in the nation, the fervour of local and foreign investors in Grameenphone shares has elevated. This marked the supreme bear bigger in its half impress for several days in a row.
All the contrivance by the outdated Awami League authorities, a different audit became once performed on Grameenphone, main the Bangladesh Telecommunication Regulatory Price to question Tk12,580 crore from the company for discrepancies acknowledged of their operations between 1997 and 2011. This dispute therefore escalated to the courts, the keep Grameenphone became once ordered to pay a most indispensable quantity as breeze by the faithful lawsuits.
Basically the most as much as date period in-between authorities’s chief adviser, Professor Muhammad Yunus, has ties to Grameenphone’s possession, as the company became once based by him by Grameen Telecom. As a results of these political connections, market stakeholders bear in mind that Grameenphone’s stock market effect will toughen following the shift in political energy.
Per Grameenphone’s shareholding whine as of July, Norway’s Telenor Mobile Communications owns 55.80% of the company’s shares, whereas Grameen Telecom holds 34.20% stake in the telecom operator. The rest of shares is owned by the institutional investors and favorite investors.
When asked about the rising passion in Grameenphone shares amid the changing conditions, a senior analyst at a brokerage firm mighty that the company confronted most indispensable authorities scrutiny at some level of the outdated administration which potential that of Muhammad Yunus’ involvement. As a consequence, Grameenphone became once subjected to a form of restrictions, main to a decline in its half impress as investors turned cautious.
Alternatively, with the most as much as date shift in the political panorama, investors now bear in mind that the company is poised to private the benefit of improved industry stipulations. This opinion has sparked renewed passion in Grameenphone shares, as investors await seemingly narrate and opportunities for expansion.
At the pause of the most most indispensable half of this yr, Grameenphone logged 5% narrate in income to Tk8,155 crore, whereas its salvage income jumped over 11% to Tk2,199 crore, in comparison with the outdated yr on the same time. It moreover disbursed a 160% cash dividend as period in-between.
