The share price of Sonali Aansh Industries soared 49 per cent or Tk 197 this week, compared to the previous week.
The share closed at Tk 730.80 on Thursday, the last trading session of this week.
In the last one month, the company's share saw an unusual price hike. On November 8, its share price was Tk 310.90. Since then, it has jumped more than 135 per cent or Tk 240 each.
The share traded between Tk 184.10 and Tk 731.20 in the last one year, hitting its year high on Thursday.
Following the 'abnormal' price hike, the Dhaka Stock Exchange (DSE) served show-cause notices on the company several times.
In reply, the company informed the DSE that there was no undisclosed price sensitive information for the recent unusual price hike of its shares.
Market insiders said the share price soared on Monday's disclosure by the company that it would add all types of diversified jute products/leather products to its production line.
The company's board of directors has also decided to change the articles of association of the company, which will be placed before its annual general meeting (AGM) scheduled for December 31.
The board of directors has also recommended 10 per cent cash dividend for the year ending on June 30, 2018.
The final approval of the recommended dividend will come during the AGM to be held in Dhaka.
The board has also decided to set up Jute Yarn Manufacturing Industries to manufacture jute yarn and twine, fabric, jute wall covering, shoe sole, jute tape, jute rope and other types of products.
The company has also decided to make various leather products, laminated jute fabrics and products, chemically treated jute, jute blend and union, cloth/sheet and various types of jute/cotton bags.
It will make shoe and shoe-related items out of jute, and other products using jute, cotton, leather and similar items as well as jute plastics and eco-friendly material and products.
Sonali Aansh, listed on the Dhaka bourse in 1985, disbursed 10 per cent cash dividend in 2017.
The board has also reported the earnings per share (EPS) at Tk 1.71, net asset value (NAV) per share at Tk 225.90 and net operating cash flow per share (NOCFPS) at a negative Tk 51.64 for the year ending on June 30, 2018 as against Tk 1.65, Tk 225.19 and Tk 31.06 respectively for the same period of the previous fiscal year.
The company's paid-up capital is Tk 27.12 million and authorised capital is Tk 100 million, while the total number of securities is 2.71 million.
The sponsor-directors own 52.48 per cent stake in the company while institutional investors 5.63 per cent and the general public own 41.89 per cent shares as on October 31, 2018.
