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The Financial Express

Paramount Textile rises 'abnormally'


Paramount Textile rises 'abnormally'

Share price of Paramount Textile rose 'abnormally' though there was no undisclosed price sensitive information (PSI) behind the price hike.

The company's share price rose 42 per cent or Tk 27 to close at Tk 91.20 on Monday from the price observed on September 20 last.

In response to a DSE query dated October 12, 2021, the company has informed that there is no undisclosed PSI for the recent unusual price hike and increase in the volume of shares.

The company's share price, however, saw price correction in the last two sessions and closed at Tk 88.20 each on Wednesday.

Paramount Textile, presently an 'A' category company, was listed with stock exchanges in 2013.

The company's sponsor-directors hold 60.95 per cent shares, institutes 13.21 per cent, foreigners 3.75 per cent and general investors 22.09 per cent as of September 30, 2021.

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