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The Financial Express
Swasti Lankabangla Swasti Lankabangla

Z-category stocks see sharp rise

| Updated: April 23, 2018 15:42:28


FE File Photo FE File Photo

Rahima Food Corporation witnessed highest gain on Sunday following increased earnings disclosure for the January-March quarter, when the 'Z' category company registered capital gain on sale of land.

Besides, some other 'Z' category companies continued with their 'unusual' price hike despite there is no undisclosed price sensitive information (PSI) for the recent price hike.

The companies' share price rose up to 9.97 per cent on Sunday on the Dhaka Stock Exchange (DSE).

On the day, Rahima Food was the top gainer with a rise of 9.97 per cent in its price. The company witnessed only 23 trades of 3,078 shares on the premier bourse.

Its share price closed at Tk 141 on April 10. Later, the price rose 18 per cent to close at 166.60 in eight trading sessions as on Sunday.

The company reported increased earnings per share (EPS) on Sunday for January-March, 2018 against the negative EPS of same period of the previous year. The company's negative EPS turned positive due to realised capital on the sale of land.

Rahima Food reported EPS of Tk. 8.89 for January-March 2018 as against the loss of Tk 0.13 per share for January-March, 2017.

The company's net asset value (NAV) per share jumped to Tk. 11.35 as on March 31, 2018 from Tk. 2.82 as on June 30, 2017.

On Sunday, the share price of Kay & Que (Bangladesh) rose 9.96 per cent to close at Tk 184.80 each. On April 8 last, the company's share trading closed at Tk 145.30. Later, the price rose 27.18 per cent or Tk 39.50 in 11 sessions as on Sunday.

Meanwhile, in response to a DSE query, the company has informed that there was no undisclosed price sensitive information of the company for recent unusual price hike of the share.

The share price of Sonargaon Textiles witnessed a price hike of 9.52 per cent to close at Tk 20.70 on Sunday. The company's share trading closed at Tk 17.10 each on April 16 and later the price soared 21 per cent only in four sessions, including on Sunday.

Of other 'Z' category companies, the price of Savar Refractories rose 10 per cent to close at Tk 176.90 each in five sessions as on Sunday.

The share trading of Samata Leather Complex closed at Tk 59 each with a rise of 6.23 per cent on Sunday.

On the day, the share trading of Jute Spinners closed at Tk 172.60 each with a rise of 5.79 per cent.

mufazzal.fe@gmail.com

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