Share prices of two companies — BEXIMCO and BSRM Steels — have continued to increase abnormally in recent times despite the fall in profits of the companies in January-June period. Following queries from the Dhaka Stock Exchange regarding unusual price hike, the companies on Sunday separately informed the bourse that there were no undisclosed price sensitive information of the companies for the price hike.
The price of BEXIMCO shares almost doubled in two and a half months rising to Tk 41.3 on Sunday from Tk 21.5 on June 3 this year.
Even after the DSE’s notice about the unusual price hike on the bourse’s web site on Sunday, the share price of BEXIMCO rose by 6.89 per cent or Tk 2.70 on the day.
DSE first inquired about the unusual price hike of BEXIMCO in June after the company’s share price rose to around Tk 35 from Tk 21. But the share price continued to rise giving pose or sliding slightly for few days
As per the latest half yearly (January-June) statement of BEXIMCO, the net profit of the company declined to Tk 26.37 crore during the period against net profit of Tk 28.68 crore in the same period of the previous year.
The net profit of the company was Tk 9.78 crore in the second quarter (April-June) against its profit of Tk 13.19 crore in the same period of the previous year.
The share price of BSRM Steels also increased unusually to Tk 99.60 on Sunday from Tk 78 each on August 7 this year despite its profit fall in first half of the year.
BSRM’s share price rose by 1.54 per cent or Tk 1.50 on Sunday.
The company’s profit declined to Tk 81.85 crore during the first half of 2014 compared with that of Tk 94.74 crore in the same period of the previous year.
The net profit of the company was Tk 41.49 crore during April-June against Tk 51.96 crore in the same period of the previous year.
Besides the two companies, the share price of Premier Cement rose to Tk 97.50 on Sunday from Tk 82.70 on August 3 this year.
The profit of the company declined to Tk 28.99 crore during the July-March period compared with that of Tk 36.11 crore during the same period of the previous year.
-With New Age input
