Home ›› 11 Feb 2022 ›› Stock
The share price of Tamijuddin Textile Mills Limited has been soaring abnormally on the Dhaka Stock Exchange since February 1, 2022.
The company saw a rise of 42.93 per cent in its share price, which was Tk 164.2 recoded on February 1, jumped to Tk 234.7 on Thursday.
Responding to queries made by the DSE, the company said there was no undisclosed price sensitive information for the recent unusual price hike and increase in the volume of shares.
The company logged healthy profit in the last financial year.
Its profit after tax increased around 74 per cent to Tk 6 crore, which was the highest profit gain in the last five financial years.
As the company made a higher profit, the company distributed a 20 per cent cash dividend to its shareholders for the FY21, which was 10 per cent in the previous financial year.
According to the latest annual report, the company is currently manufacturing different types of Polyester, PC- Kard Yarn, CVC-Kard Yarn, CVC (Rotor)-Open End, and Melange- Card Yarn.
The company was incorporated in 1970. Listed in 1991, its market capitalization is Tk 649 crore and paid-up capital Tk 30 crore. It has Tk 217 crore in surplus reserve.
Considering the current and future business prospects of the scenario of a yarn business, Tamijuddin Textile has decided to invest in balancing, modernisation, rehabilitation and expansion (BMRE) with an estimated cost of Tk 50 crore where financing mode would be own equity and bank loan.
