The share price of Sonali Aansha Industries continued to soar 'abnormally' in a bearish market, despite having no price sensitive information (PSI).
Within eight trading days, the company's share price jumped nearly 50 per cent or Tk 143.60 each to close at Tk 431 on Thursday, the last trading day of the week.
The company's share price was Tk 287.40 eight days ago on November 06.
Its share traded between Tk 184.10 and Tk 431 in the last one year.
Following the abnormal price hike, the Dhaka Stock Exchange (DSE) served show-cause notice on the company several times.
"Even after being served show-cause notice, the price of the company has not stopped rising, which may cause the investors to face substantial losses," said an analyst.
He advised the investors to carefully invest in stocks and analyse the fundamentals of the companies beforehand.
Sonali Aansh, which was listed on the Dhaka bourse in 1985, disbursed 10 per cent cash dividend for the year ended on June 30, 2017.
The company is yet to declare dividend for the year ended on June 30, 2018.
As per the company's earnings per share (EPS) stood at Tk 1.37 in nine months for July 2017-March 2018 as against Tk 1.19 for July 2016-March 2017.
The net operating cash flow per share (NOCFPS) was Tk 57.13 in the negative for July 2017-March 2018 as against Tk 10.93 for July 2016-March 2017.
The net asset value (NAV) per share was Tk 226.56 as on March 31, 2018 and Tk. 225.19 as on March 31, 2017.
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 the institutional investors own 5.63 per cent and the general public 41.89 per cent as on October 30, 2018, the DSE data shows.
The prices of some other low-cap companies like Stylecraft, Libra Infusions, Wata Chemicals, Central Pharmaceuticals, Monno Jute Stafflers are also soaring despite they had no price sensitive information or any expansion plan.
Following the abnormal price hike, the prime bourse served show-cause notices on the companies.
