Seven listed companies of textile sector received increased institutional investment in March this year amid their mixed performance displayed during January-March, 2018.
The companies are Saiham Textile Mills, Stylecraft, Alif Manufacturing Company, Simtex Industries, Dragon Sweater and Spinning, Paramount Textile and Alltex Industries.
These companies displayed mixed performance in accordance with their un-audited quarterly statements for January-March quarter of 2018.
Market operators, however, refused to make comment on the increased institutional investments made during the month in these companies.
"Institutional investors make investment based on their own calculation. So, it's not possible to speak about the reason behind increased institutional investments in some companies of the textile sector," said the chief operating officer of a leading brokerage firm requesting anonymity.
Institutional Investment in Saiham Textile Mills rose to 33.32 per cent in March from 18.96 per cent in February last. The company's earnings per share (EPS) was Tk 0.36 for January-March 2018 as against Tk. 0.30 for January-March 2017.
Institutional investment in Stylecraft rose to 15.77 per cent in March from 6.56 per cent in February. The stakes of general shareholders declined to 30.80 per cent in March from 40.01 per cent in February last.
The amount of institutional investment in Alif Manufacturing Company was 9.13 per cent in February last. At the end of March, it stood at 12.96 per cent. The stakes of general shareholders declined to 55.69 per cent in March from 59.52 per cent in February last.
Simtex Industries saw 20.12 per cent institutional investment in March. The amount of institutional investment in this company was 17.37 at the end of February last. The company's EPS declined marginally for January-March 2018 compared to same period of the previous year. The EPS was Tk. 0.46 for January-March 2018 as against Tk. 0.52 for January-March 2017.
The amount of institutional investment in Dragon Sweater and Spinning stood at 21.17 per cent in March from 19.07 per cent in February last. The company's EPS rose significantly for January-March 2018 compared to same period of the previous year. The EPS was Tk. 0.66 for January-March 2018 as against Tk. 0.16 for January-March 2017.
At the end of March, the amount of institutional investment in Paramount Textile stood at 9.51 per cent from 7.43 per cent of February last.
The amount of institutional investment in Alltex Industries rose to 5.83 per cent in March last from 4.10 per cent observed in February. The company's loss per share increased for January-March 2018 compared to same period of the previous year. The company's loss was Tk 2.49 per share for January-March 2018 as against the loss of Tk 0.75 per share for January-March 2017.
The share price of Stylecraft and Alif Industries rose abnormally during April 1 to April 23 last.
Bangladesh Securities and Exchange Commission (BSEC) recently formed a three-member enquiry committee to probe into 'unusual' price hike of these two companies and four other companies.
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