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Dulamia Cotton Spinning Mills and Miracle Industries witnessed unusual price hike without any price sensitive information.
Within a one and half month, Dulamia Cotton’s share price hiked 32.65 per cent, while Miracle Industries’ price 44.87 per cent.
In disclosures made to Dhaka and Chittagong Stock Exchanges, the companies provided no price sensitive information behind the recent price hike.
“We do not have any undisclosed price sensitive information which may affect the share price movements,” the Dulamia Cotton stated on Thursday.
According to the DSE website, Dulamia Cotton’s price hike started from June 27, when the price was Tk 44.1.
On Thursday, the price soared to Tk 58.5, which is 32.65 per cent higher from the previous figure.
On the other hand, the share price of Miracle Industries started to hike from July 13, when the price was Tk 31.2.
On Thursday, the price increased around 45 per cent and stood at Tk 45.2.
In a query by the CSE regarding the price hike, the Miracle Industries said that there was no undisclosed price sensitive information behind the recent unusual price hike.
Dulamia Cotton the Z category company listed on the stock market in 1989.
According to the company’s annual report, it disbursed dividend till FY09. Since then, the company has been in continuous loss due to old machineries and other issues.
Meanwhile the miracle industries gave only 1 per cent cash dividend for FY20. The B category company,
which was listed on stock market in 200, gave only stock dividend in the other years.
According to the company’s last annual report it make loss for the financial year 2019-20. This year earnings per share (EPS) was negative Tk3.62, which was Tk0.23 for the previous financial year.
The company manufacture of different types of PP Woven bag, Liner bag with lamination and FIBC / Jumbo Bags for bagging Cement, Fertilizer, Salt, Feeds, Sugar, Food Grains, Chemicals & Others.
