The price of the shares of Rahima Food continued to rise on Monday and touched the circuit breaker in the last couple of days despite the Dhaka Stock Exchange’s
announcement that the production of the company was found fully closed.
In the last six trading sessions the share price of the company increased by 44.18 per cent or Tk 17.10.
The share price of Rahima Food increased to Tk 55.80 each on Monday from Tk 38.70 on November 24.
The DSE management on November 21 withdrew the trade suspension on the company’s shares after keeping its trade halted for about two months due to unusual price hike.
The price of the Rahima Food shares, traded at Tk 16.60 on August 15, increased to Tk 43.20 on September 25.
The DSE in a recent web post said an inquiry team of the bourse visited the factory premises of Rahima Food and found that the production of the company was
losses of Tk 11.34 crore as per the third quarterly financial statements for the period ended on March 31 this year.
The auditor of the company in its opinion on the financial statement of Rahima Food for the year ended on June 30 this year said that the financial statement of the
company indicated threat for it.
The auditor of the company also found that about 95 per cent of the company’s total turnover worth Tk 97.74 crore in the year were sold to M/s Mohd Elias Brothers Ltd
on deferred payment basis and said sales dependability on one
party was very much risky and threatening for the company’s viability.
-With New Age input
