BRAC EPL INVESMENTS LIMITED

DAILY MARKET REVIEW

2-Dec-13
Stocks rebounded after four consecutive losing streak. The benchmark general gauge, DSEX started with a flying note, and climbed around 77 points within first half an hour, then experienced some minor correction and finally ended with moderate gain. Turnover declined slightly from that of the previous day. Major sectors posted gain today. Heavy weight Bank climbed the most among the sectors. It was followed by Telecommunication, NBFI and Pharmaceutical. Whereas, Fuel & Power ended flat today. Benchmark index DSEX advanced by 1.22 percent or 50.71 points to settle at 4197.92 points. Turnover declined by 0.24% to stand at BDT 347.85 Crore. A total of 207 issues advanced while 53 declined and 24 remained unchanged. Major sectors advanced except Power : Bank(2.27%), NBFI(0.57%), Telecommunication(0.59%), Pharmaceutical(0.55%) and Power(-0.01%). DELTALIFE topped the turnover chart with turnover value of BDT 42.99 crore. BDBUILDING topped the gainer chart with 9.97% price hike. STYLECRAFT topped the loser chart with 6.25% price loss.
5000 1200 1000 800 600
400

Commentary

Index and Turnover at a Glance

I N 4000 D E 3500 X
3000

4500

2500 2000

200 0

T U R N O V E R

Positive
PUBALIBANK UCBL BATBC DELTALIFE NBL

Impact on DSE General Index

7/15/13 7/18/13 7/23/13 7/28/13 7/31/13 8/5/13 8/14/13 8/20/13 8/25/13 8/29/13 9/3/13 9/8/13 9/11/13 9/16/13 9/19/13 9/24/13 9/29/13 10/2/13 10/7/13 10/10/13 10/22/13 10/27/13 10/30/13 11/4/13 11/7/13 11/12/13 11/17/13 11/20/13 11/25/13 11/28/13 Turnover DSEX

Turnover is presented in BDT crore Impact on DSEX Negative

0.04 0.06 0.02 0.07 0.04 POWERGRID ATLASBANG ENVOYTEX JAMUNAOIL BATASHOE

Impact on DGEX
-0.05 -0.06 -0.02 -0.01 -0.02

Impact is measured in terms of approx. change of Points DSE % change

DSEX Total Turnover 4,197.92 347.85 BDT Cr. 262,161.73 BDT Cr. 207 53 24 USD 77.75 GBP 127.18 44.74 USD ml. 33,718.55 USD ml. 1.22% -0.24% 0.81% CSCX 41.87 BDT Cr. 200,371.38 BDT Cr. 214 129 57 CAD 73.28

CSE % change
Change in Index (%) 5.38 USD ml. 25,771.24 USD ml. -7.22% 0.77%

Market Comparisons

Total Mkt. Cap Issues Advanced Issues Declined Issues Unchanged

Exchange Rates

EURO 105.62 WTI Crude Futures $93.14

CHN 12.78 GOLD Spot USD/t oz $1,242.23

World Market

Commodity Futures S&P 500 -0.08% Jul Aug 1201.15 1178.65 1201.15 1101.79

Remittance Flow
(Amounts in USD mil)

World Indexes Year 2012-13 2011-12

NIKKEI 500 -0.04%

HANG SENG 0.66%

BSE Sensex 30 0.36% Total 7399.77 6068.30

Sep Oct Nov Dec 1178.83 1453.69 1102.15 1285.30 855.44 1039.48 908.79 1147.22

Industry
Bank Cement Ceramics Engineering Food & Allied Product Insurance IT Jute Miscellaneous Mutual Funds NBFI Paper & Printing Pharmaceuticals & Chemicals Power & Energy Service & Real Estate Tannery Telecommunication Textile Travel & Leisure Market

Trade Volume (Crore)

Today 37.5 6.8 2.3 48.4 14.4 57.3 3.0 0.1 5.8 5.9 8.9 0.1 33.7 32.9 2.5 3.2 10.0 67.3 7.1 Yesterday 34.5

% of Market Turnover
Today Yesterday 10.8% 9.9%

% in Turnover
9.0%

Sector wise Trade Summary

(Amounts in BDT Crore)

T U R N O V E R

-22.7% 8.8 2.0% 2.5% -14.4% 2.7 0.7% 0.8% 41.2% 34.2 13.9% 9.8% -12.7% 16.5 4.2% 4.7% 34.7% 42.5 16.5% 12.2% -17.9% 3.6 0.9% 1.0% -5.5% 0.1 0.0% 0.0% -30.8% 8.4 1.7% 2.4% -3.7% 6.1 1.7% 1.8% -12.2% 10.1 2.6% 2.9% 10.2% 0.1 0.0% 0.0% -4.2% 35.2 9.7% 10.1% -23.0% 42.8 9.5% 12.3% -15.2% 3.0 0.7% 0.9% -44.9% 5.8 0.9% 1.7% 26.3% 7.9 2.9% 2.3% -13.2% 77.5 19.4% 22.3% -14.2% 8.2 2.0% 2.4% -0.3% 347.3 348.2 NOTE: % in Turnover= percentage change in turnover from last day, NM=Not Meaningful, NT= Not Traded

Industry
Bank Cement Ceramics Engineering Food & Allied Product Insurance IT Jute Miscellaneous Mutual Funds NBFI Paper & Printing Pharmaceuticals & Chemicals Power & Energy Service & Real Estate Tannery Telecommunication Textile Travel & Leisure Market

Market Capitalization (Crore)

Today 41,265 9,155 2,108 10,277 13,618 10,594 475 56 4,598 3,391 14,478 55 22,856 27,085 967 1,652 29,787 8,412 3,405 204,234 Yesterday 40,350 9,061 2,101 10,188 13,339 10,353 470 56 4,577 3,388 14,396 55 22,731 27,087 965 1,666 29,613 8,430 3,402 202,226

% of Total MC
Today Yesterday 20.2% 20.0% 4.5% 4.5% 1.0% 1.0% 5.0% 5.0% 6.7% 6.6% 5.2% 5.1% 0.2% 0.2% 0.0% 0.0% 2.3% 1.7% 7.1% 0.0% 11.2% 13.3% 0.5% 0.8% 14.6% 4.1% 1.7% 2.3% 1.7% 7.1% 0.0% 11.2% 13.4% 0.5% 0.8% 14.6% 4.2% 1.7%

% in MC
2.3% 1.0% 0.3% 0.9% 2.1% 2.3% 1.2% 0.0% 0.5% 0.1% 0.6% 0.0% 0.6% 0.0% 0.3% -0.8% 0.6% -0.2% 0.1% 1.0%

Sector wise Market Capitalization Summary

(Amounts in BDT Crore)

Change in Index (%)

NOTE: MC= Market Capitalization, NM=Not Meaningful, NT= Not Traded

Ticker
DELTALIFE BDBUILDING BENGALWTL GENNEXT RNSPIN PTL CENTRALPHL UCBL JAMUNAOIL GP

CT
43.0 15.3 14.7 12.4 12.0 10.5 8.3 8.1 7.4 6.8

YT
33.4 6.6 6.6 8.2 16.3 11.4 7.5 4.7 8.1 4.5

AT
10.0 7.7 10.1 21.9 15.8 19.4 5.0 12.4 9.6 13.4

% in Turnover
28.9% 131.3% 122.0% 52.0% -26.5% -8.6% 9.9% 73.2% -8.5% 50.4%

CT/AT
4.3 2.0 1.4 0.6 0.8 0.5 1.6 0.7 0.8 0.5

CP
298.1 70.6 63.3 31.2 35.5 50.8 41.6 24.7 235.2 201.8

YCP
278.6 64.2
59.4

% Price
7.0% 10.0% 6.6% -0.3% 0.6% -2.9% 6.7% 6.0% -1.1% 0.6%

Top Ten Turnover

(Amounts in BDT Crore)

31.3 35.3 52.3 39.0 23.3 237.7 200.5

NOTE: CT= Today's Turnover in crore, YT= Yesterday's Turnover in Crore, AT=Last 20 day's Turnover Average, CP= Current Price, YCP= Yesterday Closing Price,% P= Percentage change in price, NM=Not Meaningful, NT=Not Traded

Ticker
BDBUILDING RAHIMAFOOD

CP
70.60 55.80

YCP
64.20 50.80

AP
53.74 51.68

%P
10.0% 9.8%

% in Price from AP
31.39% 7.98%

Top Ten Gainers

26.10% FINEFOODS 22.20 20.50 17.61 8.3% 10.69% RUPALILIFE 113.30 105.20 102.36 7.7% -15.04% DELTALIFE 298.10 278.60 350.86 7.0% 24.11% CENTRALPHL 41.60 39.00 33.52 6.7% 8.46% PROGRESLIF 119.30 111.90 110.00 6.6% 17.35% BENGALWTL 63.30 59.40 53.94 6.6% 0.73% UCBL 24.70 23.30 24.52 6.0% 0.96% BDFINANCE 18.90 17.90 18.72 5.6% NOTE: CP= Closing Price, ,YCP=Yesterday Closing Price, AP=Average Price of last 20 day, % P = percentage change in price,NM=Not Meaningful

Ticker

CP

YP

AP

%P

% in Price from AP

Top Ten Losers

-8.64% STYLECRAFT 1,077.20 1,149.00 1,179.13 -6.2% -5.45% ATLASBANG 157.70 167.20 166.79 -5.7% -1.33% POWERGRID 53.60 56.60 54.32 -5.3% -16.33% KOHINOOR 340.00 355.00 406.38 -4.2% -6.32% STANCERAM 37.00 38.60 39.50 -4.1% -1.93% ALLTEX 7.10 7.40 7.24 -4.1% 1.03% PTL 50.80 52.30 50.28 -2.9% -1.39% ICB1STNRB 25.20 25.90 25.56 -2.7% 1.50% BATASHOE 727.50 743.00 716.74 -2.1% -6.47% DELTASPINN 28.20 28.80 30.15 -2.1% NOTE: CP= Closing Price, ,YCP=Yesterday Closing Price, AP=Average Price of last 20 day, % in P = percentage change in price,NM=Not Meaningful

Ticker

CT
5.72 33.63 429.97 1.41 7.57 14.03 14.03

AT
1.10 6.73 99.78 0.48 3.16 6.05 6.09

ATI-1
5.18 5.00 4.31 2.94 2.40 2.32 2.30

Closing Price
82.20 93.00 298.10 440.80 7.10 22.20 73.90

% in Price
2.75% 5.08% 7.00% 5.23% 4.41% 8.29% 4.82%

Abnormal Trade Indicator

Compared to Historical Average Trade
( Amounts in BDT Crore)

ECABLES GREENDELT DELTALIFE LIBRAINFU ICBIBANK FINEFOODS ARAMITCEM

2.56% ISLAMIBANK 22.50 9.88 2.28 36.00 2.95% MODERNDYE 0.56 0.27 2.05 104.70 9.97% BDBUILDING 153.39 77.12 1.99 70.60 NOTE: CT: Today's Turnover in crore, AT: Average historical turnover ATI-1 = Today's turnover times compared to historical average turnover

Ticker

CT

YT

ATI-2

Closing Price

% in Price

Abnormal Trade Indicator

Compared to Yesterday's Trade
( Amounts in BDT Crore)

2.70% 0.19 0.02 12.73 15.20 0.23% IBBLPBOND 0.33 0.11 9.71 985.50 6.61% PROGRESLIF 2.01 0.22 8.96 119.30 2.49% BATBC 7.52 0.91 8.30 1,687.50 1.78% PIONEERINS 6.98 0.91 7.67 68.60 2.13% PRAGATIINS 0.32 0.06 5.11 57.60 5.59% BDFINANCE 6.00 1.19 5.04 18.90 -1.35% IMAMBUTTON 0.13 0.03 4.96 7.30 2.56% ISLAMIBANK 22.50 4.70 4.79 36.00 NOTE: CT: Today's Turnover in crore, YT: Yerterday's turnover ATI-2 = Today's turnover times compared to yerterday's turnover ; NM: Not Meaningfull KAY&QUE

IMPORTANT DSE NEWS:

SONALIANSH As per Regulation 30 of DSE Listing Regulations, the Company has informed that a meeting of the Board of Directors will be held on December 03, 2013 at 4:30 PM to consider, among others, audited financial statements of the Company for the year ended on June 30, 2013. GPHISPAT (H/Y): As per un-audited half yearly accounts as on 31.10.2013 (May'13 to October'13), the Company has reported profit after tax of Tk. 143.47 million with basic EPS of Tk. 1.33 as against Tk. 80.73 million and Tk. 0.75 respectively for the same period of the previous year. However considering bonus share @ 10% for the year 2013, restated basic EPS is Tk. 1.21 as on 31.10.2013 (May'13 to October'13) and Tk. 0.68 as on 31.10.2012 (May'12 to October'12). Whereas profit after tax was Tk. 65.55 million with basic EPS of Tk. 0.61 for the period of 3 months (August'13 to October'13) ended on 31.10.2013 as against Tk. 17.87 million and Tk. 0.17 respectively for the same period of the previous year. However considering bonus share @ 10% for the year 2013, restated basic EPS is Tk. 0.55 as on 31.10.2013 (August'13 to October'13) and Tk. 0.15 as on 31.10.2012 (August'12 to October'12). SAIHAMCOT (H/Y): As per un-audited half yearly accounts as on 31.10.2013 (May'13 to October'13), the Company has reported net profit after tax of Tk. 122.32 million with EPS of Tk. 0.90 as against Tk. 178.44 million and Tk. 1.32 respectively for the same period of the previous year. Whereas net profit after tax was Tk. 64.66 million with EPS of Tk. 0.48 for the period of 3 months (August'13 to October'13) ended on 31.10.2013 as against Tk. 96.59 million and Tk. 0.71 respectively for the same period of the previous year. AAMRATECH National Credit Ratings Limited (NCR) has announced the rating of the Company as "A+" in the long term and "ST-2" in the short term based on audited financial statements of the Company up to June 30, 2013. GHAIL Credit Rating Information and Services Limited (CRISL) has rated the Company as "A+" in the long term and "ST-3" in the short term in consideration of financials of the Company up to 30th June 2013 (audited) and other relevant quantitative as well as qualitative information up to the date of rating declaration.

SOME NEWS PAPER HEADLINES:

Foreign investment in stocks up 21.1% The foreign investment on the country's prime bourse has increased 21.1% in November as foreign fund managers now consider the market lucrative for long-term investment due to low prices of fundamentally strong stocks. The foreign investment on the country's prime bourse has increased 21.1% in November as foreign fund managers now consider the market lucrative for long-term investment due to low prices of fundamentally strong stocks. Foreign investors bought shares worth BDT 3.4 billion and sold shares worth BDT 657.2 million to take their net investment for the month to BDT 2.8 billion in November. Foreign investment, also known as portfolio investment, accounts for less than 1.0% of the total market capitalization of the DSE. Application deadline for stock scheme extended to 15th December The supervision committee for the BDT 9.0 billion government refinance scheme for the small-scale investors affected by the 2010-11 stock market crash has decided to extend the deadline for receiving applications from merchant banks and brokerage houses to December 15. The latest move came following the plea made by the merchant banks and brokerage firms. All the margin loan providers, merchant banks and brokerage firms, are allowed to submit applications for loan facilities till December 15 this year. The Bangladesh Bank on August 26 released BDT 3.0 billion as the first phase of the BDT 9.0 billion refinance scheme. USAID, World Bank to jointly aid Bangladesh energy sector US Agency for International Development (USAID) in collaboration with the World Bank (WB) is likely to come up with a major role to provide cooperation in the country's energy sector aimed at improving efficiency. A four-member high-level team from the American state department visited the country last week and held a workshop for top level power and energy sector officials to identify the scope of cooperation. Through the workshop and discussions two major areas of investment were identified for energy efficiency improvement in the public and private sectors. These are conversion of simple cycle power plants to combined cycle ones, along with rehabilitation of fertilizer factories in public sector; and improvement of competency of captive power plants and boilers in different textiles, steel mills and dying factories in the private sector. NBFIs allowed to collect fixed deposit for 3 months The central bank has relaxed its rules, allowing the non-banking financial institutions (NBFIs) to collect fixed deposit from individuals and organizations for three months instead of six months earlier. Under the amended rules, the NBFIs are allowed to collect deposit from individuals and organizations for three months, which will not be allowed premature encashment. On March 9, 2010, the BB relaxed its rules allowing the NBFIs to receive fixed deposit from individuals and institutions for six months instead of 12 months earlier. Currently, 31 NBFIs are running their business in the country. Five new banks become primary dealers of government securities Five newly-established commercial banks on Sunday got listed with the central bank as primary dealers of the government securities. The five banks are NRB Commercial Bank, South Bangla Agriculture and Commerce Bank, Midland Bank, Farmers Bank and Meghna Bank. The banks participated in an auction of the government securities on Sunday for the first time. The five banks, however, had sought six more months before their enlistment as PD banks, but the central bank had rejected their pleas Hefty borrowings on cards for next fiscals draft budget The Finance Ministry has taken the task of preparing the draft budget for fiscal 2014-15 depending on hefty borrowings from the banks to meet the deficits. According to the Finance Ministry estimates in fiscal 2014-15 the deficit could reach BDT 673.5 billion, equivalent to 5.0% of the gross domestic product, up from current fiscals 4.6%. And the finance ministry plans to meet BDT 431.6 billion from domestic borrowings, BDT 329.5 billion from banks and the rest from non-banking sources including savings instruments. The draft budget for the next fiscal, the preparation of which has been taken at hand seven months before the current fiscal ends in June 2014, on the assumption that an ambitious 8.0% GDP growth would be achieved in 2014-15 keeping inflation at 6.0%.

SL

TICKER

Year End

Dividend (%)/Ratio of Right Issue

90%C,10%B 15%C

Date of AGM/EGM or Subscription Period

Saturday, January 25, 2014 Saturday, January 18, 2014

Record Date

FORTHCOMING RECORD DATES 1 JAMUNAOIL 2 POWERGRID

6.00 6.00

Wednesday, December 04, 2013 Sunday, December 01, 2013

Note: C= Cash Dividend; B=Bonus Dividend; R=Right; NA=Not Applicable

BRAC EPL INVESTMENTS LIMITED RESEARCH TEAM

Debabrata Kumar Sarker Fatema Akter Merry Ashakur Rahman Khan deb@bracepl.com fatema.akter@bracepl.com ashakur.rahman@bracepl.com

Disclaimer:

This report has been prepared by BRAC EPL Investments Limited (BEIL) and is provided for information purposes only. It is not, under any circumstances, to be used or considered as an offer to sell, or a solicitation of any offer to buy. Reasonable care has been taken to ensure that the information is not untrue and misleading. BEIL provides no absolute assurance as to the accuracy or completeness of such information. All opinions and estimates included in this report constitute our judgment as of this date and are subject to change without notice.

BRANCH LOCATION & CONTACT NUMBERS

Corporate Head Office House 18, Road 123 Gulshan Dhaka 1212. Phone: +880 (2) 8829241, 8829253, 8829268

Registered Office WW Tower, (Level-9) 68 Motijheel C/A, Dhaka-1000 Phone: +88 02 9514721- 07 Fax: +88 02 9553306-07

Gulshan Branch 121/B Gulshan Avenue, Dhaka-1212 Phone: + 88 02 8819426-7 Fax: +88 02 8819426-7

Motijheel Branch DSE Annex Building (9th Floor) 9/E Motijheel C/A, Dhaka- 1000 Phone: +88 02 956 1070, 956 1232, 956 4959, 956 9302, 956 7086 Fax: + 88 02 956 4991, 956 2254

Sylhet Branch Firoz Centre (2nd Floor) 891/KA, Chowhatta, Sylhet. Phone: +0821 2831684, 2831675 2831690, 2831774 Extensions: 115,117, 120 Mobile: +8801730703946 Fax: +0821 2831763

Chittagong Branch Ayub Trade Centre (8th Floor) 1296/B Sheikh Mujib Road Agrabad Commercial Area Chittagong, Bangladesh. Phone: +88 031 2512908-12 Fax: + 88 031 2512917