Navana CNG emerges as the top gainer today
In an effort to reverse the declining trend, Navana CNG Ltd shares spiked up in the Dhaka Stock Exchange.
The stock was trading at around Tk22.4 till 1:00pm and in half an hour it surged to Tk24.6 to gain by nearly 10% while trading volume more than quadrupled.
Having some profit booking pressure, Navana CNG shares' price corrected to Tk24 at 2:00 pm, which was 7.6% higher than the previous closing price.
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The company mainly engaged in vehicle fuel system conversion services has come out of losses in recent years, but yet to post impressive profits.
Over the July-December period of 2022 its earnings per share stood at Tk0.08, down from Tk0.11 over the same period of the previous year.
"The total sales revenue of the Company has decreased significantly due to the impact of the war. Since then the company is running at a loss from its initial operational stage. Therefore, the consolidated EPS resulted in a decrease," Navana CNG said in its latest disclosure.
At the end of December Navana CNG's net asset value per share stood at Tk32.78.
Navana CNG was listed in 2009 and its shares soared to Tk272 in 2010 and it is in its historic low range nowadays.
