Indo-Bangla Pharma upgraded to B category
After distributing the declared dividend, the Dhaka Stock Exchange (DSE) has reclassified Indo-Bangla Pharmaceuticals to the B category, effective 4 March, according to a disclosure published on Monday.
Previously, the company was in the Z category.
The pharmaceutical company disbursed a marginal 0.10% cash dividend to its shareholders for the 2023-24 fiscal year.
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During that period, the company recorded a loss of Tk0.35 per share, a sharp decline from the profit of Tk0.07 per share in the previous year.
The premier bourse has requested stock brokers and merchant bankers to refrain from offering loan facilities for purchasing securities of Indo-Bangla Pharmaceuticals during the first seven trading days following its change in categorisation.
According to its financials, its losses continued in the first half of the current fiscal year — covering two quarters over six months.
During the July to December period, the company's loss per share increased to Tk0.08, compared to Tk0.05 in the same period of the previous fiscal year.
On Monday, its share closed at Tk10.50 each at the DSE, a 1.87% down from the previous trading session.
