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Share price of three listed companies–HR Textile, Shepherd Industries and Regent Textile—are soaring without any price sensitive information (PSI) or any expansion plan.
The share prices of HR Textile soared 36 per cent or Tk 12 each in the past seven trading sessions on the country’s premier bourse, which prompted the Dhaka Stock Exchange (DSE) to serve show-cause notice on the company.
The company’s share price was Tk 32.90 on April 24 which jumped to Tk 44.80 on Monday.
Following the abnormal price hike, the DSE served show-cause notice on the company. However, the company informed the DSE Wednesday there is no undisclosed PSI for recent unusual price hike of its shares.
The company’s share price hovered between Tk 29.60 and Tk 45.60 in the past one year.
The HR Textile, which was listed on the Dhaka bourse in 1997, disbursed 10 per cent cash dividend for the year year ended on June 2017.
The company’s paid-up capital is Tk 253 million and authorised capital is Tk 1.0 billion, while the total number of securities is 25.30 million.
The sponsor-directors own 51.04 per cent stake in the company while institutional investors own 11.61 per cent, and general public 37.35 per cent as on March 31, 2018.
The share prices of Shepherd Industries also soared 25 per cent in the past seven trading sessions to reach at Tk 30.80 on Monday on the country’s premier bourse.
Following the abnormal price hike, the DSE served show-cause notice on the company. However, the company informed the DSE Wednesday there is no undisclosed price sensitive information for recent unusual price hike of its shares.
Regent Textile’s share prices also jumped 19 per cent in the past five trading days to reach at Tk 18.50 on Monday on the country’s premier bourse.
However, the company informed the DSE that there is no undisclosed price sensitive information for recent unusual price hike of its shares.