Al Fahad

2020-02-18 18:32:15 BdST

Two cos' share price soaring sans PSI

The share prices of two low-cap companies- Anlima Yarn Dyeing and Alltex Industries - are soaring without having any undisclosed price sensitive information.

Within two trading days, the share price of Anima Yarn jumped about 20 percent to close at Tk 40.40 on Wednesday. The company's share price was Tk 33.50 on Monday.

Its share traded between Tk 27.40 and Tk 40.40 each in the last year, hitting the highest in the last one year on the day.

Following the 'abnormal' price hike, the Dhaka Stock Exchange (DSE) served a show-cause notice on the company.

The company, however in a knee-jerk response informed the DSE on Wednesday that there was no undisclosed price sensitive information for recent unusual price hike of its shares.

Even after being served show-cause notice, the company's share price has not stopped rising, soaring 9.78 percent further on Wednesday, which will hit innocent investors, said a leading broker.

Anlima Yarn, which was listed on the Dhaka bourse in 1997, recommended 10 percent cash (excluding directors) for the year ended on June 30, 2018.

The company also disbursed 10 percent cash dividend in 2017.


The company's unaudited earnings per share (EPS) stood at Tk 0.03 in the negative for July-September, 2018 as against Tk 0.19 for July-September, 2017.

The company's paid-up capital is Tk 178.68 million and authorized capital is Tk 200 million, while the total number of securities is 17.86 million.

The sponsor-directors own 47.22 percent stake in the company, while institutional investors own 6.09 percent and the general public held 46.69 percent shares as on November 30, 2018.

Meanwhile, the share price of Alltex Industries almost doubled within eight trading sessions to reach Tk 14.70 each on Tuesday. Its share price was Tk 7.70 on December 02.

Following the 'abnormal' price hike, the prime bourse also served a show-cause notice on the company.

The company echoed the same: there is no undisclosed information that might have caused the unusual price increase.

The company's share price, however, fell 4.76 percent on Wednesday.

The company's share traded between Tk 7.30 and Tk 16.10 each in the last one year.

The company declared a 'no" dividend for the last three consecutive years 2016, 2017 and 2018.

On the other hand, the share price of the Information Services Network continued to fall as shareholders of the company approved 'no' dividend for the year ended on June 30, 2018, to a company the securities rules.

The shareholders of the company on December 9 canceled the board of directors' recommended dividends.

Earlier, the board recommended 1.0 percent cash and 4.0 percent stock dividend for the year ended on June 30, 2018.

As per the audited financial statements, the company does not have 'positive' consolidated retained earnings.

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