Four cos' share price soaring sans PSI
Pragati Life shares witness 36pc rise in five days
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The share prices of four companies were rising despite having no undisclosed price sensitive information (PSI).
The companies are Shasha Denims, Pragati Life Insurance, Khulna Power Company and Safko Spinning Mills.
Following the unusual price hike, the Dhaka Stock Exchange (DSE) served show-cause notices on the companies.
In response, the companies separately informed the DSE on Thursday that there was no undisclosed price sensitive information for the recent unusual price hike of the shares.
Share price of Shasha Denims jumped 35 per cent or Tk 34.30 each within five trading days to close at Tk 78 on Thursday.
Even after being served show-cause notice, the price of the company has not stopped rising as it soared 7.0 per cent on Thursday.
Shasha Denims, which was listed on the Dhaka Stock Exchange (DSE) in March 2015, disbursed 25 per cent cash and 6.0 per cent stock dividend for the year ended on June 30, 2017.
The share price of Khulna Power also soared 97 per cent or Tk 67.60 each within one month to reach at Tk 137.60 on Wednesday. It was the highest closing price since listing with the Dhaka bourse in 2010.
However, its share price declined 4.87 per cent to close at Tk 130.90 each on Thursday.
The power generation company's share traded between Tk 53 and Tk 139 each in the last one year.
The Khulna Power also dominated the DSE's turnover chart for the five consecutive sessions. About 6.68 million shares were traded, generating a turnover of Tk 876 million on Thursday.
The share price of Pragati Life Insurance also rose 36 per cent within five trading days despite having no undisclosed price sensitive information.
During the period from September 16 to September 20, the life insurer's share price rose 36 per cent or Tk 34.40 each to close at Tk 129.40 on Thursday. Its share price was Tk 95 each on September 16.
Even after being served show-cause notice, the price of the company has not stopped rising, soaring 9.94 per cent on Thursday. It was also the day's highest gainer.
Safko Spinning Mill's share price also rose 22 per cent to reach Tk 21.60 each on Wednesday. However, its share price fell 2.31 per cent to close at Tk 21.10 on Thursday.