The market capitalisation of leading mobile company Grameenphone hit its all-time high at Tk 52,108.07 crore on Monday as its share prices closed at record Tk 385.90 on the Dhaka Stock Exchange on the day. The market capitalisation of GP was Tk 52,040.56 crore on February 17, 2010 when its share price closed at Tk 385.40, though at one stage on that day the share price rose to Tk 395 before coming down at closing.
But, following the share market crash in 2010-2011 the capitalisation of GP came down to Tk 18,782.67 crore on May 25, 2011 when its share price closed at Tk 139.10.
The share price boom of GP, the largest company in the country in terms of capitalisation, in recent months has been in line with the rebound of the market.
‘Many of the investors are now shifting their focus on multinational companies while there is growing suspicion of market manipulation in recent times,’ said a stockbroker.
GP company secretary Sadat Hossain, however, told New Age that ‘We don’t believe that the rise in GP stock price is related to any undisclosed information or deliberate stock manipulation.’
The GP was enlisted with the DSE in 2009 with a share price of Tk 70 each.
As per the DSE data, British American Tobacco Bangladesh Company Limited is the second largest company of the country in terms of market capitalisation.
The market capitalisation of the company stood at Tk 16,318.80 crore which is Tk 35,789.27 crore less than the GP’s market capitalisation.
Square Pharmaceuticals is the largest Bangladeshi company with Tk 11,206.48 crore market capitalisation.
While Titas Gas Transmission and Distribution Company with Tk 7,963.23 crore, Investment Corporation of Bangladesh with Tk 5,839.80 crore and Islami Bank with Tk 3,863.97 crore and BSRM Steels with Tk 3,759.52 crore were on the chart as Bangladeshi large capitalised companies.
Lafarge Surma Cement with Tk 14,702.98 crore market capital, Renata Limited with Tk 4,239.81 crore and Marico Bangladesh with Tk 3,759.21 crore market capitalisation were among the top 10 companies of the DSE in terms of market capitalisation.
The market capitalisation of the DSE hit its all-time high at Tk 3,68,071.41 crore on December 5, 2010 when the market was in its peak.
As the market crashed afterward and the share prices of the listed companies declined to their bottom, so did the market capitalisation of the DSE.
The market capitalisation of the bourse declined to its lowest since the market crash at Tk 2,039,13.59 crore in February 6, 2012.
As the shares prices of most listed companies increased sharply in recent time amid fresh fund injection, the DSE’s market capitalisation increased to Tk 3,30,772.57 crore on Monday.
-With New Age input
