Monno Ceramic’s shares jump 37% in two weeks

The share price of Monno Ceramic Industries rocketed up as much as 37.4 per in the last 13 working days despite no undisclosed price sensitive information of the company. 

The publicly traded company’s share price rose by 24.91 per cent to Tk 144.4 per share on Tuesday, which was Tk 105.1 per share on December 4 at Dhaka bourse.  So, it is apparent that the unsteady rise in stock price of the publicly traded company is impertinent to its steady financial progress.

Due to this constant share price hike, the DSE served the company a show-cause notice asking it to explain the reason behind the continuous rise in its share prices in recent times.

In response to a DSE query, the Company has informed that there is no undisclosed price sensitive information of the Company for recent unusual price hike and increase in volume of shares.

Currently the company’s paid-up capital base stands slightly higher than Tk 37 crores. The company’s earnings per share (EPS) stood at Tk. 0.04 for the Q1 of FY23 from Tk 0.21 in the corresponding period of the last fiscal while EPS was Tk. 0.04 for July-September 2022 as against Tk. 0.21 for July-September 2021.

Its net asset value (NAV) per share stood at Tk 83.05 till September 2022 compared to Tk 56.67 as on June 2020.

Listed in 1983, the company’s shares closed at Tk 144.40 per share on the trading floor of the Dhaka Stock Exchange (DSE) on Thursday.

With an authorised capital of Tk 1000 crore, the drug maker has a paid-up capital base of Tk 377.24 crore, while its total number of securities stands at 37.72 million.