Keya Cosmetics is witnessing an unusual price hike and increase in volume of shares despite no undisclosed price sensitive information (PSI).
Within a month, the company's share price jumped more than 54 per cent to close at Tk 9.30 on Tuesday at the Dhaka Stock Exchange (DSE).
The company's share price was Tk 6.10 each a month earlier on June 7, according to available data with the DSE.
Following the 'abnormal' price hike, the prime bourse served show-cause notice on the company on Monday.
The company, however in a knee-jerk response, informed the DSE on Tuesday that there is no undisclosed price sensitive information of the company for recent unusual price hike and increase in volume of shares.
However, the company's share price fell 1.06 per cent on Tuesday following the show-cause notice.
Its shares traded between Tk 2.80 and Tk 9.80 in the last one year, far below from its face value of Tk 10 each.
Market analysts said the investors should not pay heed to any rumours related to companies and take their investment decisions prudently.
They also advised investors to make their investment decisions based on the company's fundamentals, technical analysis and disclosed information.
Senior executives of the company could not be reached over telephone.
Recently, the DSE management has placed the company in 'B' category from 'Z' category as the company reported disbursement of 1.0 per cent cash dividend for the year ended on June 30, 2020.
The company has also reported earnings per share (EPS) of Tk 0.24, net asset value (NAV) per share of Tk 0.25 and net operating cash flow per share (NOCFPS) of minus Tk 2.05 for the year ended on June 30, 2020 as against loss of Tk 12.94 per share, Tk 0.02 and minus Tk 0.98 respectively for the same period of the previous year.
The Keya Cosmetics, which was listed on the DSE in 2001, declared 'no' dividend for the year ended on June 30, 2019.
The company's paid-up capital is Tk 11.02 billion and authorised capital is Tk 15 billion, while the total number of securities is 1.10 billion.
The sponsor-directors own 46.27 per cent stake in the company, while institutional investors own 8.10 per cent and the general public held 45.63 per cent as on May 31, 2021, the DSE data showed.
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