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BSEC to probe price hike of four cos

FE Report | Published: November 23, 2018 10:02:17 | Updated: December 04, 2018 12:42:54


The securities regulator has formed a committee to probe the recent unusual price movement and the volume of shares of four companies.

The two-member probe committee will submit its report within 30 working days.

The companies that posted unusual share price hike are Northern Jute Manufacturing Company, Information Services Network, Fine Foods, and Stylecraft.

On October 23, the share price of Northern Jute Manufacturing Company closed at Tk 592.90 on the Dhaka Stock Exchange (DSE).

Later, the company's share price soared to Tk 863.20 as of November 20.

The company, presently in the 'Z'-category, recommended 'no dividend' for the year ended on June 30, 2018.

On October 28, the share price of Information Services Network closed at Tk 26.10 on the DSE.

On November 5, the company's share price jumped to Tk 43. The share closed at Tk 34.20 on Thursday.

The share price of Fine Foods closed at Tk 32.80 on October 28 last.

Later, the company's price jumped to Tk 45.70 as of November 11 and finally closed at Tk 38.40 on Thursday.

The company's board of directors recommended 3.0 per cent stock dividend for the year ended on June 30, 2018.

The share price of Stylecraft closed at Tk 697 on November 5. Later, the share crossed Tk 1200 and closed at Tk 1207 on Thursday.

The company's board of directors recommended 410 per cent stock dividend for the year ended on June 30, 2018.

mufazzal.fe@gmail.com

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