Share prices of three more companies -- Orion Infusion, Paper Processing & Packaging and Kay & Que (Bangladesh) -- have been soaring 'abnormally' even as there is no undisclosed price sensitive information (PSI) behind such price surge.
The share price of Orion Infusion jumped 76 per cent or Tk 83 each just in one month.
The pharmaceutical company's share closed at Tk 191.20 on Tuesday, up 9.95 per cent from the previous day. Its share price was Tk 108.30 each a month earlier.
The share price of Paper Processing & Packaging surged 53 per cent or Tk 84.4 each just in three weeks without any undisclosed price sensitive information.
Its share closed at Tk 243.70 on Tuesday, rising 8.07 per cent over the previous day. The share price was Tk 159.30 each three weeks ago, according to DSE data.
The recent price surge prompted the Dhaka Stock Exchange to serve show-cause notice on the company to know whether there was any price sensitive information for recent unusual price hike.
The company, however, 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 transaction.
Even after being served show-cause notice, the company's share price soared 8.07 per cent on Tuesday.
The share price of Kay & Que also jumped 36 per cent just in three weeks without any undisclosed price sensitive information.
The 'B' category company's share closed at Tk 298.80 on Tuesday. However, its share price dropped by 1.71 per cent on the day over the previous day.
The 'abnormal' price surge prompted the prime bourse to serve show-cause notice on the company to know whether there was any price sensitive information for the recent unusual price hike.
But the company replied: "There is no undisclosed price sensitive information of the company for recent unusual price hike and increase in volume of share transaction".
The company's share price surge is unusual if its fundamentals are taken into account, said a merchant banker.
The paid-up capital of Kay & Que is Tk 51.48 while the total number of securities is 5.14 million.
Meanwhile, the company has declared 5.0 per cent interim cash dividend based on its financial statements for a nine month period ended on March 31, 2022.
"The influential investors by disseminating rumours try to manipulate the prices of shares of many companies to make a quick profit," said a leading stockbroker.
In recent weeks, share prices of Jute Spinners and Union Capital also rose 'abnormally' without any undisclosed price sensitive information.
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