Share prices of eight low-cap companies, which are under the regulator's scanners, continued to soar without any price sensitive information (PSI).
The companies are: Kay & Que, Samata Leather Complex, Aziz Pipes, Monno Ceramic Industries, Savar Refractories, Jute Spinners, Dulamia Cotton Mills, and Shyampur Sugar Mills.
These companies along with seven others-15 in total-are now under the scanners of Dhaka Stock Exchange (DSE) for failing to declare dividends for the last five years.
The Bangladesh Securities and Exchange Commission (BSEC) also sent five of the 15 companies-Monno Ceramic Industries, Kay & Que (Bangladesh), Aziz Pipes, Stylecraft, and Dragon Sweater & Spinning-to the spot market for trading effective from August 19 following their abnormal price hikes.
Besides, the BSEC suspended share trading of Monno Jute Stafflers, Bangladesh Autocars and Legacy Footwear for 30 sessions effective from August 19 following their 'abnormal' price hikes.
Despite the BSEC and DSE moves, the companies' share prices soared despite no undisclosed price sensitive information there.
Of them, the share price of Kay & Que jumped 9.97 per cent to close at Tk 189.70 each on Sunday.
Samata Leather's share price soared 9.48 per cent to close at Tk 42.70 each while the share price of Aziz Pipes closed at Tk 187.60 each, soaring 8.43 per cent on Sunday.
The share price of Monno Ceramic jumped 8.30 per cent to close at Tk 293.50 each on the day.
Savar Refractories' share price rose 7.97 per cent to close at Tk 90.70 while Jute Spinners' share price went up 7.49 per cent to close at Tk 78.90 each.
The share price of Dulamia Cotton was up 7.34 per cent to close at Tk 19. The share price of Shyampur Sugar Mills rose 5.32 per cent to close at Tk 27.70.
Following the recent abnormal hike in these companies' share prices, the DSE also served show-cause notices several times.
All the companies replied the same to the notices: There was no undisclosed information that caused the unusual price increase.
"Even after being served show-cause notice and regulatory action, the prices of these companies have not stopped rising, which may cause the investors to incur massive losses," said an analyst, seeking anonymity.
He also advised the investors that they (investors) should be careful about investing in stocks and analyse the fundamentals of securities beforehand.
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