Malek Spinning share soars 38% in 8-day

The stock of Malek Spinning Mills Limited soared 38 per cent in eight consecutive sessions.

The Textile Company faced a query from the Dhaka Stock Exchange due to an unusual rise in its share prices. Its share price rallied from Tk 26.8 recorded on July 28 to settle at Tk 36.9 as of Monday.

“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 response to the DSE’s query.

On the day, the company share price rose 0.82 per cent.

Malek Spinning’s third quarter earnings per share was Tk 1.03 for January-March 2022 as against Tk 0.99 for January-March 2021.

Its Net Asset Value per share was Tk 48.17 as of March 31, 2022 and Tk 46.27 as of June 30, 2021.