Shinepukur Ceramics asked to explain the unusual rise in share prices
The share price soared 42% in just 13 working days
The Dhaka Stock Exchange (DSE) has sought an explanation from Shinepukur Ceramics Limited about an unusual increase in its share prices.
On 7 June, the share price was Tk35.20 and on 27 June, it rose to Tk51.8. In other words, the share price has risen by Tk14.80 or 42% within just 13 working days.
The country's premier bourse, in a letter, has recently asked the ceramic manufacturer to explain the reasons behind the sharp rise in its share prices.
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In response, the company said that its share prices have been increasing without any undisclosed price-sensitive information.
From January to March 2022, the revenue of the company was Tk49.68 crore, which was Tk34.63 in the same period as the previous year.
During the period, its net profit was Tk2.51 crore, which was Tk0.59 crore in the same period a year ago.
Its earnings per share were Tk0.17 and its net asset value per share was Tk31.84 as of 31 March 2021.
As of 31 May 2022, sponsors and directors jointly held 50%, institutions 6%, and the general public 44% shares of the company.
The last trading share price of the company on the Dhaka Stock Exchange was Tk51.80 per share on Monday.
