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The share price of Popular Life Insurance Company is soaring without any price sensitive information (PSI) as the stock price surged further by 9.39 per cent Thursday.
In the last one month, the insurer's share price jumped more than 56.54 per cent or Tk 46.70 each to close at Tk 129.30 on Thursday. The company's share price was Tk 82.60 a month ago on March 13 on the Dhaka bourse.
The company's share price almost doubled within four months from Tk 66.40 each on December 10, 2017. In the last one year, the price hovered between Tk 64 and Tk 130 each.
Following the recent abnormal price hike, the Dhaka Stock Exchange (DSE) served show-cause notice on the company on Wednesday.
However, the company informed the DSE on Thursday that there is no undisclosed price sensitive information for recent unusual price hike of its shares.
"Even after serving of show-cause notice, the prices continued to rise, which may hit the investors," said an analyst, preferring anonymity.
However, a stockbroker said, the investors were expecting better dividend declaration ahead, as the company declared 40 per cent cash dividends each for the last two consecutive years - 2015 and 2016.
The company's paid-up capital is Tk 604.28 million and authorised capital is Tk 5.0 billion, while the total number of securities is 60.42 million.
The sponsor-directors own 30.85 per cent stake in the company while the institutional investors 27 per cent, foreign investors 0.21 per cent and the general public 41.94 per cent as on February 28, 2017, the DSE data shows.
The Popular Life Insurance Company was listed on the Dhaka bourse in 2005.
On the other hand, the share prices of state-run Eastern Lubricants also soaring without any price sensitive information as the company's price jumped 14.78 per cent of Tk 148.50 each within three trading sessions to close at Tk 1,152.90 each on Thursday. The company's share price was Tk 1,004.40 on Monday.
The DSE authority also served show-cause notice on the company following its unusual price hike. However, the company informed the DSE on Thursday that there is no undisclosed price sensitive information for recent unusual price hike of its shares.
The Eastern Lubricants, which was listed on the DSE in 1976, disbursed 100 per cent cash dividend for the year ended on June 30, 2017.
The company's paid-up capital is Tk 9.94 million and authorised capital is Tk 50 million, while the total number of securities is 994,000.
The sponsor-directors own 0.10 per cent stake in the company while the government owns 51 per cent, institutional investors 26.59 per cent and the general public 22.31 per cent as on February 28, 2017, the DSE data shows.
Meanwhile, the company informed Thursday that a meeting of the board of directors will be held on April 22, 2018 at 4:30pm to consider, among others, un-audited financial statements of the company for the third quarter (Q3) period ended on March 31, 2018.