Fortune Shoes brought the biggest fortune for stock investors in the Dhaka Stock Exchange (DSE) in 2021.
The Barishal-based synthetic footwear exporter, growing in significance in export markets while eyeing a slice of the rapidly expanding local market, saw its share price appreciate 390% in a year, from 15 December, 2020 to 15 December, 2021.
This was even before considering the 5% stock and 10% cash dividend it announced for its shareholders.
The company announced slightly higher dividends and has been posting both higher sales and profits in recent quarters.
Hot on its heels was conglomerate Beximco Ltd, the stock of which was the second best performer in the DSE, registering a price appreciation of 373%.
Beximco Ltd has been reporting increasingly rising earnings since the first wave of the pandemic as almost all its business divisions — textile, IT, healthcare, and especially its new line of personal protective equipment (PPE) — showed high revenues, while repeatedly securing new work orders.
The company recently also received an eye-watering fund of Tk3,000 crore from the Sukuk market for its green projects in the solar power and textile sectors.
Prior to June last year, Beximco’s stock was trading below Tk20, but it shot to over Tk150 in the next 18 months.
The third name on the list, however, came as a shock for many analysts, who had already internally debated whether even the top two merited their places based on sustainable improvement in the companies’ fundamentals.
Share price of Emerald Oil Industries, a scam-hit rice bran oil producer sinking in bank liabilities amid no production, rose by 263% in the DSE over the past 52 weeks, as news broke of its acquisition by Bangladesh-origin Japanese investors.
Source: The Business Standard