Prices of two ins cos go wild
The companies deny any PSI in knee-jerk replies
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Share prices of Sonar Bangla Insurance and United Insurance are soaring 'unusually' though there was no undisclosed price sensitive information for such hike of shares.
The share prices of the companies soared up to 149 per cent in nine to thirteen sessions in a row on Dhaka Stock Exchange (DSE).
Following the DSE queries, the companies recently informed that there was no 'undisclosed' price sensitive information for recent 'unusual' price hike of shares. Nevertheless, the share prices of the companies are rising continuously.
The share price of Sonar Bangla Insurance closed at Tk 29.70 each on Sunday with a rise of 10 per cent or Tk 2.70 on the DSE.
On the day, the company was the second gainer in the chart of top 10 gainers of the premier bourse.
A continuous price hike of the shares of Sonar Bangla Insurance was observed in nine sessions as of Sunday.
During the period, the company's share price soared 84.47 per cent or Tk 16.10.
In response to a DSE query dated on January 15 last, the company informed that there is no undisclosed price sensitive information for recent 'unusual' price hike of shares.
The share price of United Insurance rose 9.97 per cent or Tk 5.80 to close at Tk 64 each on Sunday. On the day, the company was number three gainer on the premier bourse DSE.
The company's share price closed at Tk 25.70 each on January 1 last. Later, the share trading was executed for 13 sessions and the share price of United Insurance rose in 12 sessions.
The company's share price rose 149 per cent or Tk 38.30 in last 13 sessions, including the price hike of Sunday.
In response to a DSE query dated January 06, 2019, United Insurance informed that there is no undisclosed price sensitive information for recent unusual price hike of shares.