The Bangladesh Securities and Exchange Commission on Tuesday formed two committees to investigate the unusual price hike of shares of Alltex Industries and Northern Jute Manufacturing Company. Both the committees were asked to submit reports within 15 working days, said a BSEC press release. A commission meeting led by its chairman M Khairul Hossain made the decision.
BSEC deputy director Mollah Md Miraz-Us-Sunnah and assistant director Mohammad Rakibur Rahman were asked to investigate unusual price hike of Alltex Industries, while deputy director Mohammed Fakhrul Islam Mazumder and assistant director Md Iqbal Hossain were asked to investigate unusual price rise of Northern Jute Manufacturing.
The share price of Alltex rose to around Tk 36 from around TK 24 in five trading sessions before Tuesday.
The company’s share has been on upward curve since October last year as it declared profits and 10 per cent
stock dividends despite having accumulated loss. The share price was Tk 9.80 on October 28.
On the other hand, share price of Northern Jute Manufactures was also on steady rise climbing to Tk 293.30 on Tuesday from around Tk 150 in November 2014.
-With New Age input
