Beximco Synthetics' share price soaring sans PSI
Share prices of Jute Spinners, Progressive Life also jump
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Share price of Beximco Synthetics is soaring without any price sensitive information (PSI) as the company's price surged further by 7.69 per cent Sunday.
In the last one month, the Z-category issue jumped more than 32 per cent to close at Tk 11.20 on Sunday on the Dhaka Stock Exchange (DSE). The company's share price was Tk 8.50 each a month ago on December 24.
Following the recent abnormal price hike, the Dhaka Stock Exchange (DSE) served show-cause notice on the company.
However, the company informed the DSE Wednesday 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 of the company continued to rise, which may hit the investors" said an analyst, seeking anonymity.
He noted that investors should be careful about the unusual price hike of the low-cap companies and Z-category companies, like Beximco Synthetics.
The company's earnings per share (EPS) stood at Tk (0.36) for July-September, 2017 as against Tk (0.43) for July-September, 2016.
The net operating cash flow per share (NOCFPS) was Tk (0.03) for July-September, 2017 as against Tk (0.06) for July-September, 2016. The net asset value (NAV) per share was Tk 20.35 as on September 30, 2017 and Tk 20.71 as on June 30, 2017.
Beximco Synthetics failed to pay dividend since 2012. In 2012, the company paid 10 per cent stock dividend.
The company's paid-up capital is Tk 867.12 million and authorised capital is Tk 2.0 billion, while the total number of securities is 86.71 million.
The sponsor-directors own 35.67 per cent stake in the company while the institutional investors own 12.86 per cent, foreign investors 0.02 per cent and the general public 51.45 per cent as on December 28, 2017, the DSE data shows.
On the other hand, share price of two other Z-category companies - Jute Spinners and Progressive Life Insurance -also jumped abnormally on the day.
Jute Spinners' share price soared 9.0 per cent to close at Tk 165.90 while share price of Progressive Life Insurance jumped 6.92 per cent to close at Tk 74.20 on the day without any price sensitive information.