Grameenphone (GP), Jamuna Bank, LafargeHolcim Bangladesh and Paramount Textile have entered the Chittagong Stock Exchange’s (CSE) blue-chip CSE30 Index, strengthening the benchmark’s representation of the telecommunications, banking, cement and textile sectors.
The latest semi-annual review, effective from July 30, removed Crown Cement, National Credit and Commerce Bank, Square Textiles and Uttara Bank from the index, CSE said on Tuesday.
The CSE30 tracks 30 leading listed companies selected based on size, market liquidity and financial performance. The index is used by investors as a measure of the performance of top-tier stocks on the exchange.
The revised constituents represent 44.69 per cent of the total market capitalisation of all equity securities listed on the port city bourse and 43.13 per cent of its free-float market capitalisation.
The CSE Index Committee reviews the constituents twice a year through a rules-based screening process. Companies must have a minimum market capitalisation of Tk60 crore, hold annual general meetings regularly, maintain positive retained earnings, demonstrate satisfactory earnings per share and net asset value, have a dividend history and maintain at least 5 per cent free-float shares with active trading records.
Newly listed companies must also meet minimum listing and operating history requirements before becoming eligible for inclusion.
With the latest changes, the CSE30 now includes Bangladesh Shipping Corporation, Bangladesh Steel Re-Rolling Mills, Bangladesh Submarine Cables, Beximco Pharmaceuticals, BRAC Bank, British American Tobacco Bangladesh, BSRM Steels, City Bank, DBH Finance, Delta Life Insurance, Eastern Bank, Eastern Housing, GP, IDLC Finance and IT Consultants.
The index also includes Jamuna Bank, Jamuna Oil, LafargeHolcim Bangladesh, Meghna Petroleum, MJL Bangladesh, Olympic Industries, Padma Oil, Paramount Textile, Pioneer Insurance, Prime Bank, Sonali Paper & Board Mills, Square Pharmaceuticals, The Acme Laboratories, Unique Hotel & Resorts and Walton Hi-Tech Industries.
