DSE queries 3 companies for unusual share price hike

DSE has queried 3 companies from Dhaka Stock Exchange (DSE) for unusual price hike and increase in volume of shares in a letter.

Those 3 companies are Sonar Bangla Insurance Limited, Eastern Lubricants Blenders Limited, Usmania Glass Sheet Factory Limited.

The share price of Sonar Bangla Insurance Limited increased almost 48 per cent in 12 consecutive trading Days and share price began to rise on May 22.

On Monday, the company’s share price hit the almost upper limit circuit at 10 per cent to Tk 71.3 on the Dhaka Stock Exchange.

Eastern Lubricants Blenders Limited Share price soared 40 per cent in 9 trading days and the share price began to rise on May 25.

The Company Share price increased almost 6 per cent to Tk 1932 on the Dhaka Stock exchange on Monday.

Usmania Glass Sheet Factory, another Company also faced DSE query for unusual price hike within 10 days in 32 per cent.

The company share continued to rise from May 22 to June 2. However the Company share price dropped almost 6 per cent on Monday to Tk 1932 on the Dhaka Stock exchange.

In response to the DSE queries companies stated that, “They don’t have any hidden information regarding recent abnormal hike in price and increase in share volume.’’