Shepherd share rises 44% in a week

Shepherd Industries share price shot up more than 44 per cent in a week without any fundamental reason.

Its share closed at Tk 29 on Tuesday, an increase of 44.27 per cent from Tk 20.1 recorded on October 3, according to Dhaka Stock Exchange (DSE).

“There is no undisclosed price sensitive information of the Company for recent unusual price hike and increase in volume of shares,” said the company in a filing with the DSE on Tuesday in response to the DSE query.

According to its latest financial statement, the textile maker’s business went into the red.

It reported its earnings-per-share (EPS) was Tk 0.21 in the negative during January-March 2021 from the positive of Tk 0.08 in the same period a year earlier.

Shepherd Industries sponsored by investors from Taiwan was established in 2000. Its factory is located at Bhaluka in Mymensingh. 

Listed in 2017, it specialises in fancy yarn, yarn dyeing, garment dyeing, garment washing, jean washing, auto stripe knitting fabrics, and all kinds of knitting fabrics.

As of Tuesday, the company’s market capitalisation stood at Tk 427 crore and paid-up capital Tk 150 crore.

Sponsors-directors hold 51.48 per cent, institutional investors 12.06 per cent, foreign investors 18.75 per cent and public 17.71 per cent of the company stake.

The company distributed 1 per cent cash dividend for FY20 despite suffering losses of Tk 18.68 lakh during the period.