The Financial Express

Two insurers' shares keep rising sans PSI

| Updated: January 06, 2022 09:53:28

- Picture used for illustrative purpose - Picture used for illustrative purpose

Two general insurers -- Prime Insurance Company and Asia Insurance--are witnessing an unprecedented price hike and increase in volume of shares despite no undisclosed price sensitive information (PSI).

Besides, Bangladesh Shipping Corporation's (BSC) stock price jumped over 84 per cent or Tk 40 each within a month to close at Tk 86.50 on Tuesday, riding on higher profits in the last fiscal year.

The state-run corporation has reported a 73.67 per cent increase in its net profit during the fiscal year (FY) 2020-2021 to Tk 719.9 million thanks to a surge in shipping fares, and a decrease in ship operating costs.

Within a month, Prime Insurance's share price rose more than 45 per cent or Tk 27 each to close at Tk 86.90 on Tuesday.

The company's share price was Tk 59.90 a month earlier on December 5, 2021. Its share price traded between Tk 27.60 and Tk 89.20 each in the last one year, according to Dhaka Stock Exchange (DSE).

Following the 'abnormal' price hike, the DSE served show-cause notice on the company recently.

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