Metro Spinning share jumps 39% in 7-day

The stock of Metro Spinning Mills Limited increased 39 per cent in seven consecutive sessions on the Dhaka Stock Exchange.

The textile maker faced a query from the Dhaka Stock Exchange due to an unusual rise in its share prices. Its share price rallied from Tk 25.8 recorded on August 17 to settle at Tk 42.6 on Sunday.

“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 9.79 per cent.

Metro spinning’s third quarter earnings per share was Tk 0.17 for January-March 2022 as against Tk 0.42 for January-March 2021.

During the period, the company’s net operating cash flow per share (NOCFPS) was negative Tk 0.68 for July 2021-March 2022 as against positive Tk 0.90 for July 2020-March 2021.

Net asset value (NAV) per share was Tk 20.18 as of March 31, 2022 and Tk 18.36 as of June 30, 2021.

Metro Spinning was listed on the bourses in 2002.

The company's sponsor-directors hold 30.09 per cent stakes, institutes 14.09 per cent and general shareholders 55.82 per cent as of July 31, 2022, according to the DSE.