Active Fine sees abnormal price hike

Active Fine Chemicals, a bulk drug supplier, posted unusual price hike and increase in volume of shares despite no price sensitive information and massive profit fall in the January-March quarter.

The company’s share price jumped by 5 per cent in the last four trading days to close at Tk 26 on Monday at the prime bourse, Dhaka Stock Exchange (DSE). The price was Tk 24.8 on July 27.

In the third quarter of the FY21, Active Fine posted a profit of Tk 58 lakh when its profit was Tk 4.54 crore in the previous fiscal.

In the first nine month of FY21 (July-March), the profit declined to Tk 4.17 crore. According to the company’s un-audited report, its earning per share (EPS) was Tk 0.02 in the January-March quarter against Tk 0.19 of the same quarter of FY20. The EPS was Tk 0.17 for July 2020-March 2021 as against Tk 0.96 for July 2019-March 2020.

In a disclosure to the DSE, the company said that the EPS fell down due to decrease in profit from comparative quarter. Its net operating cash flow per share (NOCFPS) was Tk 0.01 for July 2020-March 2021 against Tk 2.00 for July 2019-March 2020.