Small-cap stocks surge on DSE

Shares of several small-cap companies with histories of controversy and alleged irregularities surged on Monday, dominating the top gainers' list at the Dhaka Stock Exchange (DSE).

Four of the day's top 10 risers were such firms, even as overall indices and turnover climbed, reports bdnews24.com.

Pharmaceutical and chemical stocks led the rally, with daily trades in the sector crossing Tk 2 billion, up from Tk 1.29 billion a day earlier. Except for three listed pharma firms, share prices across the sector rose, helping total DSE turnover climb to nearly Tk 10 billion from Tk 8.01 billion previously.

The benchmark index gained 18 points, closing at 5,419 against 5,401 the previous day. Market capitalisation rose by Tk 15.35 billion to Tk 7.165 trillion.

Sonali Paper Limited, long criticised for share-price manipulation and fined alongside director Shakib Al Hasan, topped the chart with a 9.97 percent jump to Tk 206.60 per share, up from Tk 187.50. The company has a paid-up capital of just Tk 329 million.

BD Autocar, with a paid-up capital of Tk 43.2 million and listed since 1988, surged 9.94 percent to Tk 132.90. Despite controversies, it gave only 2 percent cash dividends in both 2023 and 2024.

ACI Formulations followed in second place, while other small-cap gainers included Intech (paid-up Tk 313 million), Information Services Network (Tk 109 million) and Sonali Aansh (Tk 108 million), with their shares rising between 8 percent and 9.85 percent.