News Briefs (03-09-2019)

Monno Stafflers share climbs 149pc in six weeks

The share price of Monno Jute Stafflers Ltd jumped 149 per cent or Tk 1,021 each in six weeks without any price sensitive information (PSI). The company's share price also rose 6.25 per cent or Tk 100.4 each on Monday to close at Tk 1,707.80, despite the market ended lower for the past few trading sessions. The company's share price was Tk 686.90 each six weeks ago on July 21 on the Dhaka Stock Exchange (DSE). Market insiders said the low-cap company that produces spare parts and accessories for jute mills and textile mills continued to soar 'abnormally' on rumours ahead of dividend declaration.

Following the 'abnormal' price hike, the DSE served show-cause notice on the company on August 20. However, the company in a knee-jerk response informed the DSE that there is no undisclosed price sensitive information for recent unusual price hike of its shares.— FE Report

Padma Bank distributes mosquito nets to combat dengue outbreak

Padma Bank Limited has distributed mosquito nets to poor, orphans and homeless people in an effort to combat aedes mosquitoes responsible for the worst outbreak of dengue fever in the country. Chowdhury Nafeez Sarafat, the chairman of the bank, inaugurated the programme this week while the bank's Managing Director and Chief Executive Officer Md. Ehsan Khasru distributed mosquito nets to hundreds of homeless people in the capital Dhaka.— Statement