BSEC forms committee to probe price hike of 4 cos’ shares

Staff Correspondent | Published: 21:56, May 18,2017

 
 

The Bangladesh Securities and Exchange Commission has formed a committee to investigate recent unusual price hike of shares of four small-capitalised companies.
The commission issued an order in this regard on Wednesday asking the committee members to probe into the issue.
The companies which witnessed unusual price hike of shares are : Regent Textile Mills, Kay & Que, Jute Spinners and Tung Hai Knitting and Dyeing,
Market operators said that a section of investors always try to push prices of small-capitalised scrips up with a view to make quick gains.
All the four companies, with not-so-impressive earning reports, have declared that they did not have any price sensitive information behind the recent price hike.
Regent Textile share prices rose by 70 per cent to Tk 36.30 from Tk 21.30 during the period of April 2 to April 16, 2017.
Share prices of Kay & Que increased 45 per cent to Tk 56.60 on Wednesday from Tk 39 on April 30.
Prices of Jute Spinners increased 30.45 per cent to Tk 66.4 on Wednesday from Tk 50.9 on May 8.
Tung Hai Knitting’s share price rose by 24.35 per cent to Tk 19.40 on April 13 from Tk 15.60 on April 9.

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