Eight 'Z'-category companies which have been incurring losses saw unusual price hikes on the Dhaka Stock Exchange (DSE) this week even though there is no justifiable reason behind such price surge.
These companies exhibited their dominance when shares of many companies with good fundamentals witnessed their prices tumbled amid global economic uncertainty caused by sanctions imposed on Russia for invading Ukraine.
One of the eight companies, however, has informed that there was no undisclosed price sensitive information behind the company's share price hike and the increase in volume of shares being traded.
The share prices of these 'Z'-category companies gained up to 30.48 per cent in the five trading sessions of the week to March 03.
Of the companies, Meghna Pet Industries saw the highest price gain of 30.48 per cent and it closed at Tk 27.40 each on Thursday, the last day of the week. The company posted a weekly turnover of Tk 24.33 million on the premier bourse.
Meghna Pet had reported a loss of Tk 0.06 per share for October-December 2021 against the loss of Tk 0.07 per share for the same period in 2020.
The share price of Meghna Condensed Milk Industries went up by 20.61 per cent to end at Tk 19.90 each. The company featured a weekly turnover of Tk 16.60 million.
It had reported a loss of Tk 1.74 per share for October-December 2021 against the loss of Tk 1.95 per share for October-December 2020.
The share price of Savar Refractories jumped 15.20 per cent this week to close at Tk 206.20 each on Thursday. The company's weekly turnover stood at Tk 8.22 million on the premier bourse.
The company posted a loss of Tk 0.20 per share for October-December 2021 against the loss of Tk 0.19 per share for the same period in 2020.
The share price of Zeal Bangla Sugar Mills closed at Tk 157.80 each on Thursday, up 14.18 per cent from the previous week. The company's weekly turnover clocked in at Tk 35.55 million.
The share price of Imam Button Industries surged 13.62 per cent to close at Tk 34.20 each on Thursday. During the week, the company posted a turnover of Tk 20.38 million.
In response to a DSE query on March 01, the company has informed that there is no undisclosed price sensitive information of the company for the recent unusual price hike.
Jute Spinners saw a 11.56 per cent rise in its share price which closed at Tk 132.20 each on Thursday. During the week, the company featured a turnover of Tk 2.91 million.
The share prices of Usmania Glass Sheet Factory and Shyampur Sugar Mills gained 7.62 per cent and 6.94 per cent respectively.
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