Crystal Insurance’s shares soar unusually
Stocks
With a single-day gain of over 9%, the share price of Crystal Insurance Company has surged by over 14% in the last five trading sessions, ending on Sunday.
The share price, which was Tk59.2 each on 28 August at the Dhaka Stock Exchange (DSE), rose to Tk67.8 on Sunday (3 September).
On the day, the insurer was on the second row among the top gainers at the country's premier bourse.
In response to the DSE query, the company said there is no undisclosed price-sensitive information about the company behind the recent unusual price hikes and increase in volume of shares.
In the first half of 2023, the company reported earnings per share (EPS) of Tk1.78, a 37% growth compared to the same period of the previous year.
In 2022, the private sector insurer made a profit of Tk10.89 crore, up from Tk11.31 crore in 2021.
The company had paid a 10% cash dividend to its shareholders for 2022.
In July, the insurer decided to invest in a digital bank. As per the decision, Crystal Insurance will invest Tk12.50 crore, or 10% of the total paid-up capital of the proposed digital bank.
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