Home ›› 24 Aug 2021 ›› Stock
Five publicly traded companies have witnessed unusual hike in their share prices in the last few months.
The companies are - Paper Processing and Packaging, Fareast Finance and Investment, Meghna Pet Industries, Ring Shine Textiles, and Meghna Condensed Milk Industries.
In response to queries by the Dhaka Stock Exchange (DSE) on Monday, the companies said that they had no undisclosed price sensitive information.
The share price of Paper Processing & Packaging, which carries out trades under ‘Z’ category, has been on rise since June.
The price, which was Tk 17.6 on June 13, rose by 888 per cent to settle at Tk 173.9 at the Dhaka bourse on Monday.
Thought the company was in the main market, it was sent to over the counter (OTC) market on June 13.
The company disbursed 11 per cent cash and 11 per cent stock dividends to the shareholders last year, after a five year gap.
According to its annual report, the company’s profit declined 53 per cent to stand at Tk 2.38 crore in FY20, which was Tk 5.09 crore in the previous year.
Earlier this month, the stock market regulator BSEC formed a committee to look into the issue of unusual price hikes of a total of nine companies, including Paper Processing & Packaging.
Meanwhile, the share price of Meghna Pet Industries, another ‘Z’ category company, increased 113 per cent within the last two months.
The price, which was Tk 12.4 on June 20, stood at Tk 26.5 on Monday at the Dhaka bourse.
Meghna Condensed Milk Industries, a concern of Megha Group, witnessed 86 per cent hike in its share price within the last two months.
The share price, which was Tk 11.6 on June 21, rose to Tk 21.5 on Monday.
Apart from that, Ring Shine Textiles, an ‘A’ category company, posted a 93.5 per cent increase in share price for the last two and half months.
Its share price stood at Tk 14.9 on Monday, which was Tk 7.7 on June 6.
Besides, Fareast Finance & Investment, a non-bank financial institute, posted a 139 per cent hike in share price for the last two months. Each share of the NBFI was traded at Tk 9.8 at the Dhaka bourse on Monday, which was Tk 4.1 on June 27.
