The stock market regulator has asked the Dhaka Stock Exchange (DSE) to investigate unusual price movements of state-run Shyampur Sugar Mills.
A probe report has to be submitted within 20 working days from December 10, as per an order issued by the Bangladesh Securities and Exchange Commission (BSEC).
The stock of the loss-making sugar manufacturer soared 70 per cent to Tk 156.20 between September 17 and October 26.
The company has been enduring losses for more than a decade and has failed to provide any dividend to shareholders.
Shyampur Sugar Mills reported a loss of Tk 265.16 million for FY22. Its 51 per cent stake is owned by the government.
The regulatory body considers the steep price rise abnormal and that there might be price manipulation.
Shyampur Sugar Mills was traded on the DSE at Tk 179.5 on Monday.
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