Four companies reported price sensitive information

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Four companies reported price sensitive information
Four companies reported price sensitive information

Four companies reported price sensitive information

Four companies listed on the stock exchange have provided price sensitive information to investors. The companies are Square Pharmaceuticals, Square Textiles, Paramount Textiles and JMI Syringes and Medical Devices Limited. Sources at the Dhaka Stock Exchange (DSE) said.

According to DSE, Square Group will expand its Square Pharma business. To this end, the board of directors has approved the use of Tk 300 crore in the BMRE project. With this money the company will buy capital equipment to modernize and repair the factory. Besides, land will be purchased if necessary.

Another company of the same group, Square Textiles Limited, has also decided to invest a new Tk 348 crore to increase the production capacity of the factory. With this money, the company will increase the production of 11 thousand 565 tons of yarn per year. The company expects a turnover of Tk 361 crore per annum and a profit of 5-6 per cent of the turnover. Work on the company’s new project will be completed in April 2023.

Paramount Textiles, a textile company, will import capital equipment at a new investment of  4.15 million (about Rs 32 crore in local currency). This device will increase the productivity of the company’s weaving unit. This investment money will also be provided through long-term foreign currency loans from state-owned commercial banks.

Pharmaceutical company JMI Syringes and Medical Devices said UNICEF would take 1,33,46,500 syringes from them. UNICEF has requested JMI to purchase the syringes for the corona vaccination program by June 2023. The company has signed a purchase agreement with JMI for the supply of 1 crore 33 lakh 46 thousand 500 syringes in July 2022.

According to the agreement, JMI will have to supply the syringes by July 31, 2022. In addition, UNICEF has so far purchased 1 crore 9 lakh 8 thousand syringes from JMI in the current 2021-22 financial year.

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