Monno Ceramic tops DSE turnover chart (2019-03-07)
FE Report |
March 07, 2019 12:00:00
Monno Ceramic Industries dominated the prime bourse's turnover chart Wednesday while top ten-traded companies grabbed 36 per cent transactions.
Market analysts said investors showed their buying appetite on Monno Ceramic shares as the regulator lifted restriction on it and put back the shares of the company on the public market from the spot market.
The Bangladesh Securities and Exchange Commission on February 20, 2019 lifted restriction on Monno Ceramic after more than six months.
On August 16, 2018, the BSEC sent the Monno Ceramic to the spot market for the unusual price hike of their shares.
According to statistics from the Dhaka Stock Exchange, about 792,617 shares of Monno Ceramic were traded, generating a turnover of Tk 334 million, which was 5.87 per cent of the prime bourse's total turnover.
Meanwhile, the Monno Ceramic informed Wednesday that Monno Welfare Foundation, one of the corporate directors of the company, completed its sale of 7,00,000 shares at prevailing market price as per declaration disseminated on Monday last.
The company's share price also rose more than 40 per cent or Tk 125 each in the last one month to reach at Tk 441.30 on Sunday last.
Following the recent abnormal price hike, the Dhaka Stock Exchange (DSE) served show-cause notice on the company on Monday.
However, the company in a knee-jerk response to the DSE that there is no undisclosed price sensitive information for recent unusual price hikes of its shares.
The share price of the company closed at Tk 417.90 each on Wednesday, losing 2.86 per cent over the previous day.
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