Monno Jute Stafflers share jumps 108pc in a month sans PSI

FE Report | Wednesday, 21 August 2019

The share price of Monno Jute Stafflers is soaring without any price sensitive information (PSI) as the company's price surged further by 3.88 per cent on Tuesday.
In last one month, the company's share price jumped more than 108 per cent or Tk 742 each to close at Tk 1,429 on Tuesday.
The company's share price was Tk 686.90 each a month ago on July 21 on the Dhaka Stock Exchange (DSE).
The price ranged between Tk 641.10 and Tk 5,634.20 in last one year, according to DSE data.
Following the recent abnormal price hike, the DSE served show-cause notice on the company on Tuesday.
However, the company in a knee-jerk response informed the DSE that there is no undisclosed PSI for recent unusual price hike of its shares.
"Even after serving of show-cause notice, the price of the company continued to soar, which may hit the investors" said an analyst, requesting anonymity.
He noted that investors should be careful about the unusual price hike of low-cap companies and should not pay any heed to rumours at the time of trading shares.
The company's earnings per share (EPS) stood at Tk 5.70 for July 2018-March 2019 as against Tk 2.95 for July 2017-March 2018.
The net operating cash flow per share (NOCFPS) was Tk 4.38 for July 2018-March 2019 as against Tk 19.16 for July 2017-March 2018.
The net asset value (NAV) per share was Tk 17.54 as on March 31, 2019 and Tk 53.30 as on June 30, 2018.
Earlier the company informed that sales increased due to addition of new machineries, product line increased as well as customer demand increased. Therefore, EPS increased.
Senior executives of the company could not be reached over telephone.
The company, listed on the DSE in 1982, disbursed 350 per cent stock dividend for the year ended on June 30, 2018.
The company's paid-up capital is Tk 20.70 million and authorized capital is Tk 1.0 billion, while the total number of securities is 2.07 million.
The sponsor-directors own 42.98 per cent stake in company, while institutional investors own 4.53 per cent, foreign investors 0.01 per cent and the general public 52.48 per cent as on June 30, 2019, the DSE data shows.

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