Golden Son tops gainers’ chart despite its H1 losses widen

Golden Son shares hit the 10% upper circuit limit, securing the top spot on the gainers' chart today (2 February), despite reporting widened losses in its financial results for the July-December period of the current fiscal year 2024-25.

Today, Golden Son's shares closed at Tk13.20, marking a 10% increase from the previous session on the Dhaka Stock Exchange (DSE).

The company released its half-yearly financial statement for FY25 the same day, revealing that its loss per share surged 13 times to Tk0.27 compared to the same period last year.

According to the DSE, Golden Son has been incurring losses since FY22. However, despite its continued losses, the company managed to pay a 1% cash dividend for the last fiscal year, placing it under the "B" category on the trading platform.

Meanwhile, another B-category company, Hakkani Pulp, secured the second position on the gainers' chart today as its share price surged 9.82% to Tk55.90, despite reporting a more than 26% decline in earnings per share (EPS) to Tk0.25.

Market insiders attribute the positive investor response to Hakkani Pulp's decision to install a new machine at a cost of Tk90 lakh. The new equipment is expected to reduce production costs by Tk80 lakh annually, potentially boosting the company's profitability.

Moreover, investors also responded positively to Ifad Autos, Energypac, and ML Dyeing, as all three reported significant earnings growth in the first half of FY25.

Meanwhile, the benchmark index, DSEX, of the Dhaka bourse rose by 13 points, reaching 5,126, while the blue-chip index, DS30, gained 4 points to close at 1,908 today.

Of the stocks traded, 187 advanced, 155 declined, and 52 remained unchanged.

Trading activity continued to stagnate, with market turnover falling by 9% from the previous session to Tk356 crore.