Messages

196

Business Administration / Re: Relevant and Irrelevant Costs

« on: March 08, 2017, 12:59:16 PM »

An irrelevant cost is a cost that will not change as the result of a management decision. However, the same cost may be relevant to a different management decision. Consequently, it is important to formally define and document those costs that should be excluded from consideration when reaching a decision.

Sir, can we call irrelevant cost as sunk cost???

197

Business Administration / Golden Words of Warren Buffet on Stock Market Uncertainty

« on: September 05, 2015, 12:52:26 PM »

Uncertainty is the most certain thing about stock market. Lots of people take wrong decision because of macro uncertainties. GDP going down, inflation up, dollar index up , problem in Greece, slow down in China and blah blah blah are these things going to kill my portfolio ? Investors gets carried away with these things and take wrong decision. Lets check out the Golden words of King on investing Warren Buffet.

The world’s always uncertain. The world was uncertain on December 6th, 1941, we just didn’t know it. The world was uncertain on October 18th, 1987, you know, we just didn’t know it. The world was uncertain on September 10th, 2001, we just didn’t know it. The world – there’s always uncertainty. Now the question is, what do you do with your money? And if you – the one thing is if you leave it in your pocket, it’ll become worth less – not worthless – worth less over time. That’s certain – that’s almost certain. You can put it in bonds and then you can get a certain 2 percent for 10 years and that’s almost certain to be less than the decline and the purchasing power. You can put it in farms and the farms will probably keep growing corn and soybeans and they’ll grow it whether, you know, whether Italy has trouble tomorrow or not. It’s very interesting to me, if you own a farm and somebody said, you know, Italy’s got problems. Do you sell your farm tomorrow?

If you own a good business locally in Omaha and somebody says Italy’s got problems tomorrow, do you sell your business? Do you sell your apartment house? No. But for some reason, people think if they own wonderful businesses indirectly through stocks, they’ve got to make a decision every five minutes. So I do not think if Ben Bernanke comes up and whispers to me that he’s going to do X, Y or Z tomorrow, I’m not going to change my view about what businesses I want to own. I want – I’m going to own those businesses for years just like I would own a farm or an apartment house and they’ll be all kinds of events and there’ll be all kinds of uncertainties and in the end, what will really count is how that business or farm or apartment house does over the years.

I don’t think about the macro stuff. What you really want to do in investments is figure out what is important and knowable. If it is unimportant or unknowable, you forget about it. What you are talking about is important but is not knowable…. We don’t want to pass up the chance to do something intelligent because of some prediction about something that we are no good at anyway

That factor so overrides anything else. If you’re right about the business, you’ll make a lot of money … the timing part of it is a very tricky thing. I don’t worry about any given event if I have a wonderful business … With a wonderful business, you can figure out what will happen, you cannot figure out when it will happen. You don’t want to focus too much on “when”, you want to focus on “what”. If you’re right about “what”, you don’t have to worry about “when” very much.

198

Business Administration / Rakesh Jhunjhunwala Success Story from 5k to 1.8$ Billion Rakesh

« on: September 05, 2015, 12:38:37 PM »

Rakesh Jhunjhunwala, the name that needs no introduction. The legendary investor who is known as the Warren Buffet of India. Lets check out the success story of Rakesh Jhunjhunwala and his journey from 5000 Rs to 8000 Crore.

Rakesh Jhunjhunwala was born on 5th July 1960. He father was an Income tax officer. His father was interested in stocks and used to discuss about the stock market with his friends. Rakesh as a child would listed to them. Once he asked his father why the price fluctuate. He told him to check the news, it makes the price to fluctuates. This was his first lesson of stocks market. He got fascinated by stocks and found it interesting. He expressed his wish to get into stock market to his father. He told him to do whatever he wanted in life but at least get professionally qualified. Rakesh then took up chartered accountancy and completed his CA in 1985.

After completing the CA he told his father that he wanted to go in the stock market. His father reacted by telling not to ask him or any of his friends for money. Earn and trade with your money. He started his career in 1985 when the BSE Sensex was at 150. He made his first big profit of Rs 0.5 million in 1986 when he sold 5,000 shares of Tata Tea at a price of Rs 143 which he had purchased for Rs 43 a share just 3 months prior. . Between 1986 and 1989 he earned Rs 20–2.5 million. His first major successful bet was iron mining company Sesa Goa(now Sesa Sterlite). He bought 400,000 shares of Sesa Goa in forward trading, worth Rs 10 million and sold about 2-250,000 shares at Rs 60–65 and another 100,000 at Rs 150–175. The price rose to Rs 2200 and he sold some shares.

Jhunjhunwala bought 6 crore shares of  Titan in 2002-03 at an average price of around Rs 3. The stock is currently trading at 390 Rs level and his investment value is now 2100 crore, which made around 35 lakh per hour for him.  In 2006 he bought lupin around 150 Rs which is now trading at 1100 levels.  He bought crisil around 200-300 levels which is now at 1800. Likewise there are so many stocks in his portfolio that made huge money for him.

His philosophy
Rakesh Jhunjhunwala believes in power of mistakes. He says its the mistakes that made him to learn and become a better investor.  he says. “If you don’t believe the markets are supreme, you will never admit that it was your mistake. If you don’t admit that it is your mistake, you will never learn.  To succeed in the stock market, not only is the ability to learn from one’s mistakes vital, he says, but also to blame only oneself for it. “I don’t blame the promoters of companies. I blame myself. The promoter is what he is. I have to recognise that. He is not what I expect him to be.”  Jhunjhunwala says what he has learnt in life is to try and earn money in trading and to invest it in stocks.

His believe on India-
Jhunjhunwala says he is bullish on the country growth since he entered the stock market. He insists the Indian economy will grow by 9-10 percent, though that may need a transition of two to three years. Jhunjhunwala’s thesis is that Indians will save $1 trillion a year, and even if 10 percent of that money—$100 billion —flows into the markets, there will be a tsunami on the bourses. “So I remain bullish that, for the next 20 years, we could see a bull run like the one Wall Street had from 1987.”

199

Business Administration / Re: Airtel revives plan to sell Bangladesh unit

« on: September 05, 2015, 12:29:54 PM »

speculative report???
then Bharti Airtel should take some action against this news agency.
If True, Airtel Bd is not going to get good price cause market is so competitive as there is little or no chance of growth of telco sector in Bangladesh.

200

Business Administration / Re: Banglalink eyes profit this year

« on: September 05, 2015, 12:20:57 PM »

good to know

201

Business Administration / Re: Stock split

« on: July 26, 2015, 02:51:44 PM »

Reverse Stock Split

In finance, a reverse stock split or reverse split is a process by which shares of corporate stock are effectively merged to form a smaller number of proportionally more valuable shares. A reverse stock split is also called a stock merge.

Benefit of a reverse split is that by reducing the shares outstanding and share float, the stock becomes harder to borrow, making it difficult for short sellers to short the stock.

Occasionally, a stock will trade on the NYSE for less than $1, but if it remains at that level for too long, it can eventually be delisted, or removed, from the exchange. To avoid this situation company's board of directors chose reverse stock split as good option.

202

Business Administration / Re: Stock split

« on: July 26, 2015, 02:43:53 PM »

Thank you sir for sharing it.

To increase marketability of the shares concern company's board of directors go for such decision mainly.

203

Business Administration / The role of microfinance and moneylenders in rural economy

« on: July 26, 2015, 02:39:39 PM »

The advent of microfinance, particularly in Bangladesh, is mainly attributed to the existence of an imperfect credit market in rural areas, swept by informal sources of credit like money-lenders. Moneylenders not only charge exorbitant rates of interest to the borrowers (say 30-40 per cent per month), they also forfeit the assets in case of loan default or delays. The condition of Upen in Rabindranath Tagore's Dui bigha jomi is a pointer to the perils of the poor faced with such informal sources of credit.

After decades of dominance of the moneylenders in rural credit market with devastating consequences, the public sector stepped into the market through establishing branches of the government-owned banks to provide credit in the rural areas. Such banks began to provide credit at a much lower rate than that in informal market but drawbacks were there. First, the poor segment in rural areas was deprived of cheaper credit due to lack of collateral. Thus it was the richer segment that reaped home the benefits of such credit. Second, those bank branches were located mostly in semi-urban areas at the cost of rural hinterlands. And finally, the loan size suited mostly the richer segments of the people, not the poorer ones.

It has long been observed that in a regime of unequal ownership of land and inequitable social structure, institutional credit is likely to reach the larger farmers fast. The inequitable structure denies access of the poorer segment to credit despite their dire need for adoption of input-intensive modern agricultural technologies. In consequence, differentiation of peasantry and polarisation of peasant households are likely to occur following increased supply of credit and diffusion of improved technologies. 

  To face the twin problems of both informal and government credit, NGOs (non-governmental organisations) appeared as a solution. At the moment, three sources of credit are in existence in rural Bangladesh: public banks, NGOs and informal sources (contributions of cooperatives or societies are minuscule). According to a census in 62 villages conducted by the BRAC in 2013, 55 per cent of rural households access 44 per cent of credit from NGOs/MFIs and 11 per cent from informal sources. Again, informal sources still account for roughly one-thirds of the total credit supply in rural areas.  However, it cannot be denied that the rural credit market has grown relatively more competitive over time.

While a number of studies are available on rural credit market, Debdulal Mallick of Deakin University (Australia) takes on the linkage between formal and informal credit markets. As far as Bangladesh is concerned, it should be construed as a rare attempt when the linkage remains largely unexplored in developing countries. Drawing on the data from 156 villages in three districts in northern Bangladesh - as the baseline survey for BRAC's  ultra poor programme and supported by Focus Group discussions - the author addresses one important aspect of the linkage by empirically investigating the impact of microfinance intervention on the moneylenders' interest rate in northern Bangladesh. Needless to mention perhaps, one of the important reasons for the expansion of microfinance industry is to substitute the informal market and help the poor people escape the clutches of the 'evil moneylenders'. Recent theoretical development points out that the response of the interest rates in the informal sector to the expansion of formal credit depends on the features of both sectors, such as market structure and repayment schedule.

The descriptive statistics emerging from the survey are interesting. In the surveyed villages, on an average, there are 3.9 MFIs (microfinance institutions) carrying out lending operations with a range of 1 to 9. The average number of big MFIs is 3.6 indicating competition for clients even among big MFIs. On an average, one-third of households borrow from MFIs. Further, in roughly one-third of sample villages, higher percentage of clients utilise loans for productive investment with agriculture attracting more investment. As opposed to this, moneylenders' loan went to productive investment in only one-tenth of the sample villages. More importantly, in around 27 per cent of villages, the poverty situation  improved and in 17 per cent, it remained the same during the last five years preceding the survey.

It has been found that moneylenders' interest rates increase with the percentage of households borrowing from MFIs in the village. The productive investment of a loan lowers the moneylenders' interest rates. However, greater coverage of MFI programmes triggers increase in moneylenders' interest rates in villages in which more loans are invested in productive economic activities and the reasons are not far to seek. "As loans are utilised for productive purposes, the likelihood of repayment increases so that moneylenders are able to charge lower interest rates. But, if the overall demand for funds goes up, as indicated by higher percentages of households borrowing from MFIs, and if MFI loans are inadequate or seasonal working capital is unavailable from MFIs or the repayment schedule is tight, borrowers will resort to moneylenders for additional funds to sustain their productive projects. Hence increased demand for funds will drive up moneylenders' interest rates. These results are robust to correction for endogeneity" (Debdulal).

Debdulal then drives us to policy implications.  Borrowers can make more productive investments if MFIs meet their demands for loans by allowing more flexibility in loan disbursement and repayment schedules. Second, borrower projects will be more profitable if MFIs expand their programme of loan-only to loan-plus. En passant, one needs to know that BRAC follows a loan-plus approach, where loans are accompanied by various forms of assistance for the borrowers such as skill development training, provision of higher quality inputs, and ethnical assistance. Finally, the active presence of moneylenders is not necessarily baneful but can be beneficial, if increasing competition between formal and informal lenders increases borrowers' access to funds at competitive prices (interest rates).

204

Business Administration / Re: 36 CA firms to audit financial statements of listed companies

« on: July 26, 2015, 02:38:42 PM »

Thank you sir.

205

Business Administration / 36 CA firms to audit financial statements of listed companies

« on: July 21, 2015, 12:52:24 PM »

The securities regulator has disclosed the name of 36 Chartered Accountant (CA) firms by whom the financial statements of the listed companies will be audited, officials said.

Listed companies from now on will have to get their financial statements audited by appointing CA firms from 36-member panel formed by the Bangladesh Securities and Exchange Commission (BSEC).

The regulator formed its Auditors Panel in an effort to ensure more quality auditing by the firms having good reputations, sufficient manpower and foreign affiliation.

"The issuer of listed securities shall get its financial statements audited by any firm of chartered accountants which is in the panel of the commission," said a BSEC directive.

The CA firms included in BSEC Auditors Panel are: A Qasem & Co., A. Wahab & Co., ACNABIN, Ahmad & Akhtar, Ahmed Mashuque & Co., Ahmed Zaker & Co., ARTISAN, Ashraf Uddin & Co., Aziz Halim Khair Choudhury, G. Kibria & Co. and Hoda Vasi Chowdhury & Co.

The other CA firms included in BSEC panel are: Hussain Farhad & Co., Islam Aftab Kamrul and Co., Islam Quazi Shafique & Co., K. M. Alam & Co., K. M. Hasan & Co., Khan Wahab Shafique Rahman & Co., M. J. Abedin & Co., MABS & J Partners, Mahfel Huq & Co., Malek Siddiqui Wali, Masih Muhith Haque & Co., Nurul Faruq Hasan & Co., Octokhan, Pinaki & Co., Rahman Mostafa Alam & Co., Rahman Rahman Huq, S. F. Ahmed & Co., S. K. Barua & Co., Shafiq Basak & Co., Shahadat Rashid & Co., Shiraz Khan Basak & Co., Syful Shamsul Alam & Co., Toha Khan Zaman & Co. and Zoha Zaman Kabir Rashid and Co.

Arif Khan, a BSEC commissioner, said the formation of Auditors Panel is not anything new in Bangladesh as the central bank had already formed similar panel.

"Questions regarding auditing standards maintained in listed companies were raised several times. That's why we have formed the panel comprising CA firms having good reputations to ensure required standards in certifying the financial statements of listed companies," Mr. Khan said.

He said listed companies in other developed countries always get their financial statements audited by the firms having good reputations.

Asked, Khan said their Auditors Panel may be revised time to time on the basis of auditors' performance and criteria.

 "In that case other auditors, which are out of our panel, will get the chance to be included in panel by fulfilling required criteria," Khan added.

The 36 CA firms have been selected for the BSEC's panel as per criteria set by the securities regulator.

According to the criteria, an auditor or a partner of the audit firm shall be a qualified chartered accountant, the audit firm shall be a partnership firm of chartered accountants within the meaning of Bangladesh Chartered Accountants Order, 1973 (P.O.2 of 1973) consisting of not less than: (i) two partners, in case of foreign affiliated audit firm; or (ii) four partners, in case of having no foreign affiliation, at least two partners of the audit firm (foreign affiliated or not) shall have the practicing experience in auditing for a minimum period of seven years.

And the audit firm shall have adequate qualified audit staffs, at least eight for each partner.

The president of the Institute of Chartered Accountants of Bangladesh (ICAB) Masih Malik Chowdhury welcomed the regulator's initiative stating that BSEC's panel should be revised on periodic basis.

"Any CA firm whatever it has affiliation with any one of world's big fours should be treated as accused if the regulator finds allegations against that firm," Mr. Masih Malik said.

He said before investing in listed securities, foreign investors see whether the companies' financial statements are certified by qualified CA firms.

"I think the regulator is right in forming its auditors' panel in boosting confidence of foreign investors. At the same time, professional chartered accountants should be appointed in the regulatory body to help raise its capacity building," Mr Malik added.

206

MBA Discussion Forum / Asian shares rise

« on: July 21, 2015, 12:48:16 PM »

Asian shares gained on Tuesday, taking heart from Nasdaq's fresh high, while gold prices took back some lost ground after plunging more than 4 per cent to five-year lows in the previous session. MSCI's broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS was last up about 0.4 per cent, after wavering between positive and negative territory for much of early trading. China stocks .SSEC extended gains as government rescue measures appear to have restored some stability to trading. Japan's Nikkei share index .N225 ended up 0.9 per cent. Spot gold XAU= added about 0.5 per cent on the day to $1,102.40 an ounce. The dollar jumped to its highest since April 23 against a basket of major currencies .DXY, and was last up about 0.1 per cent on the day at 98.111.  The euro edged down slightly on the day to $1.0815 EUR=EBS. The dollar added about 0.1 per cent against the yen to buy 124.43 JPY=EBS, according to Reuters.

207

Business Administration / Lower middle-income status and challenges

« on: July 09, 2015, 05:17:17 PM »

It is true that Bangladesh's graduation to the club of lower middle-income countries will add strength to the country's efforts to develop further. There is a feeling of satisfaction all around; the people have got a new-found confidence.

The World Bank recently classified Bangladesh as a lower middle-income country as the country crossed the Bank-defined threshold per capita annual income of $ 1,041. The World Bank's account was based on FY 2013-14 income. One year since then, the average per capita income of the Bangladeshis will possibly be higher - may be, not less than $ 1,100.

The country has been achieving consistently an average GDP (gross domestic product) growth rate of 6.0 per cent since last one and a half decade. The economy got connected with the world economy firmly though not at the level as some other countries did in terms of globalisation. Even without being a member of any functional free trade bloc, Bangladesh's export increased at an average rate of over 12 per cent per annum which led this country to have exports valued at more than $ 32 billion to the world market. Only a decade ago, export earnings up to this level were a dream. Now the country is thinking of increasing export earnings to $ 50 billion in the next few years.

Bangladesh did not get any free lunch in case of exports, especially to the US market. Of the few countries that still need to pay high duty when they seek to enter the US market, Bangladesh is one of them. This country, on an average, is paying between 15 per cent and 18 per cent duty on its exports to the US market. This is much higher than what is being paid by some members of the European Union. The US is now actively negotiating a regional trade and investment deal known as Trans-Pacific Partnership (TPP) with different  countries including Vietnam, a competitor of Bangladesh in garment and apparel products.

Globalisation has been a boon for Bangladesh, so it did for many other countries. But the cost of exports and reaching the markets will remain high and difficult if Bangladesh fails to become an effective member of the global free trade blocs. We hope, the country's policymakers will understand the limits and problems of this country in the coming years in sending its exports abroad and having investment from there.

Capital and investment flow more freely to those economies which hold prospects for high economic growth. And high growth is now strongly linked with degree of globalisation an economy has. Bangladesh's entry to the global sphere of trade and investment may further be strengthened with a firm economic bondage with China and India. The Eastern door of Bangladesh should be knocked hard so that we can link up with the Chinese and the  Asean (Association of Southeast Asian Nations) economies.

What has held back the country's economy to go up with its growth rate? The usual explanation is the absence of required investment in the economy.

The economy, which has achieved 6.0 per cent growth rate over a decade and a half, can achieve 7.0 per cent or more growth rate if we try a little harder. Once making electricity available seemed to be a daunting task for this economy, but the task has now been made easy by our private sector with an appropriate policy support from the government.

The Bangladesh economy is having under- investment in the sense that all of its savings are not invested. A large amount of money, by some estimate $ 2.0 billion per annum, is finding way abroad illegally. Net foreign investment in the economy cannot compensate this outflow. What does really prompt the Bangladeshi citizens to take money abroad? Finding the causes and mitigating those should be the main issues now. Vilification and castigation of the so-called money smugglers will not help the country anyway.

No country can keep all the money within its boundaries unless governance and security issues are in order. Bangladesh failed on both these counts. Corruption and hindrances are rampant. Unless the government addresses the issue of good governance, the cost of doing business will remain high and the rich people will feel insecure.  The basic strength of the economy lies not in productivity level of its people, but in the abundant availability of cheap manpower.

Bangladesh's policymakers should not feel complacent by thinking they have achieved much. The fact is that the economy is performing less than its potential. Even after gaining its status as a lower middle-income country, the economy is not free from adverse effects that may strike it any time from within or without.  The economy, in some cases, is still standing on the razor's edge of the dark hole which anytime can push it down into the hole.

The land-man ratio is increasingly going against us. How long can it go when this will become unsustainable? A quarter of ten million people are entering the job market every year. Can this economy provide them with work? With corruption and bickering at all levels, will society rest at peace? Social problems may turn out to be bigger in Bangladesh in the coming days.

Yes, advancing to a lower middle-income country, Bangladesh has crossed the psychological barrier and people from other countries will look at us with some respect. Creditors from around the world will possibly give us credit on easy terms. Bangladesh will no more ask for charity or concessionary loans. But the country should ask itself:  what has kept it so long in the group of countries known as LDCs (least developed countries)?

208

MBA Discussion Forum / Re: The role of factoring in international trade

« on: July 09, 2015, 05:13:22 PM »

Informative
Thanks for sharing

209

Business & Entrepreneurship / Re: Difference between reserve and provision

« on: July 09, 2015, 05:07:52 PM »

Informative

210

MBA Discussion Forum / শেয়ার ব্যবসা করতে চান? তাহলে যা জানা দরকার

« on: July 09, 2015, 04:56:02 PM »

অনেকেই শেয়ার ব্যবসা করতে চান। কিন্তু কোনোধরনের ধারণা না থাকায় আর শুরু করা হয় না। শেয়ার ব্যবসা করতে চাইলে একজন ব্যক্তিকে কী জানতে হবে এবং কীভাবে ব্যবসা শুরু করতে হবে তার একটি প্রাথমিক ধারণা অর্থসূচকের পাঠকের জন্য তুলে ধরা হলো-

* প্রথমে বিও অ্যাকাউন্ট খুলতে হয়। ব্রোকারেজ হাউজে একক বা যৌথ একাউন্ট খোলা যায়।
* বয়স ১৮ বছর হতে হয়
* নির্দিষ্ট ফরম পূরণ করতে হয়

বিও অ্যাকাউন্ট খোলার প্রয়োজনীয় কাগজপত্রগুলো হলো-
* জাতীয় পরিচয় পত্রের ফটোকপি, নিজের ৩ কপি পাসপোর্ট সাইজের ছবি, নমিনির ১ কপি ছবি, ব্যাংক স্ট্যাটমেন্ট
জয়েন্ট অ্যাকাউন্টের ক্ষেত্রেও উল্লিখিত কাগজ ও ছবি জমা দিতে হবে।
* বিও অ্যাকাউন্ট খোলার জন্য ব্রোকারেজ হাউজভেদে ৫০০-২,০০০ টাকা পর্যন্ত চার্জ দিতে হয়।

শেয়ার ক্রয়ের ক্ষেত্রে :

শুরুতে শেয়ার বেচা-কেনার ক্ষেত্রে যেসকল বিষয়গুলো খেয়াল রাখতে হয়-

*প্রথমে দেখতে হবে কোম্পনিটির মৌলভিত্তি কেমন অথবা কোম্পানিটি কোন ক্যাটারগরিতে অবস্থান করছে। কোম্পানিগুলোর জন্য ৪টি ক্যাটাগরি রয়েছে।

ক্যাটাগরিগুলো হলো- A, B, N ও Z

ক্যাটাগরি A: যে সকল কোম্পানি প্রত্যেক বছর নিয়মিতভাবে এজিএম করে ও ১০% এর বেশি লভ্যাংশ দিয়ে থাকে।

ক্যাটাগরি B: যে সকল কোম্পানি প্রত্যেক বছর নিয়মিতভাবে এজিএম করে ও ১০% এর কম লভ্যাংশ দিয়ে থাকে।

ক্যাটাগরি Z: যেসব কোম্পানি পর পর দুই বছর বিনিয়োগকারীদের লভ্যাংশ দেয় না,  কোম্পানীকে Z ক্যাটাগরিতে অন্তর্ভুক্ত করা হয়। এই কোম্পানীর শেয়ার ক্রয়ের ক্ষেত্রে ব্রোকারেজ হাউজগুলো মার্জিন একাউন্টের বিপরীতে কোন লোন সুবিধা প্রদান করে না। এই কোম্পানীর শেয়ারগুলো ক্রয়ের ১৫ কার্যদিবস পর বিক্রি করতে হয়।

ক্যাটাগরি N: বাজারের অন্তর্ভুক্ত হওয়া নতুন কোম্পানিগুলোর এজিএম (বার্ষিক সাধারণ সভা) হওয়ার আগ পর্যন্ত নতুন কোম্পানিগুলো N ক্যাটাগরিতে অবস্থান করে।

কোম্পানির ইপিএস (আর্নিং পার শেয়ার) কত? প্রত্যেক কোম্পানি বছরে ৪টি কোয়ার্টারে ইপিএস দিয়ে থাকে। ইপিএস হলো শেয়ার প্রতি আয়। কোনো কোম্পানি একটি নির্দিষ্ট সময়ে যে পরিমাণ লাভ করে সেই লভ্যাংশকে মার্কেটের মোট শেয়ারে ভাগ করে দিলে যা আসে তাই হলো ইপিএস।
কোম্পানির শেয়ারের পিই (প্রফিট আর্নি রেশিও) কত? যে কোম্পানির পিই যত বেশি সে কোম্পানি তত বেশি অতি মূল্যায়িত। বাংলাদেশের শেয়ার মার্কেটের কোম্পানিগুলোর পিই ২৫ এর বেশি হলে ঝুঁকিপূর্ণ বিবেচনা করা হয়।

লেনদেন :

সরকারি ছুটি ছাড়া প্রতিদিন সকাল ১১টা থেকে বেলা ৩টা পর্যন্ত লেনদেন হয়ে থাকে। ব্রোকারেজ হাউজগুলোতে সরাসরি এবং ফোনের মাধ্যমে শেয়ার কেনা-বেচা করা যায়। ক্রয়কৃত শেয়ার ৪র্থ কর্মদিবসে বিক্রি করা যায়। শেয়ার বিক্রির ৪ থেকে ৫ দিনের মধ্যে সাধারণত অ্যাকাউন্ট পে চেক প্রদান করা হয়। অ্যাকাউন্টের টাকার মেয়াদ পাওয়ার জন্য কমপক্ষে ৩ দিন পূর্বে রিকুইজিশন দিতে হয়। আইপিও শেয়ার বিক্রির জন্য প্রদত্ত আইপিও এর ওয়্যারেন্ট পত্র ব্রোকারেজ হাউজে জমা দিতে হয়।