Two companies see unusual price hikes

Two listed companies -- Delta Life Insurance and SAIF Powertec -- have witnessed unusual price hikes without any fundamental reasons.

The Delta Life Insurance share jumped 38 per cent from Tk 137 on September 5 to Tk 190 seen on October 3 on the Dhaka Stock Exchange.

The ‘A’ category company’s share price increased to 205 per cent in the last six months.

SAIF Powertec share increased to Tk 44, up by 41 per cent from Tk 31 during the period. It gained 165 per cent in the last six months.

The DSE served queries about the abnormal price rises of the companies. In response, the companies replied that they had no undisclosed price-sensitive information.

Experts say the manipulators usually target small-cap stocks as their prices can easily be jacked up.