BBS Cables secures Tk51.76 crore supply order from Rural Electrification Board

BBS Cables Ltd has secured a supply order from the Bangladesh Rural Electrification Board (BREB) to supply conductors, bare wire and bare conductors worth Tk51.76 crore, according to a regulatory disclosure by the company through the Dhaka Stock Exchange (DSE).

The company also informed that on 17 May it received the notification of award from the BREB and it would be effective upon signing the contract within twenty-eight days.

BBS Cables, which was rising in the business of bulk supply of locally manufactured electrification cables had been suffering business declines since the pandemic and its profits were in a downtrend.

The soaring dollar added to the pains by raising the costs of raw materials further as it had to import them.

However, the announcement of new orders failed to pull its share price from the floor price of Tk49.9 in the DSE.