The share price of Alif Industries Limited (AIL) continued to soar without any price sensitive information (PSI).
The company's share price jumped more than 24 per cent or Tk 20.40 each in only three trading days to close at Tk 105.40 in the Dhaka bourse on Thursday. The share price was Tk 85 each on May 28.
Alif Industries was also the day's most traded stock in the Dhaka bourse, with 1.73 million shares worth Tk 180 million changing hands.
Following the recent abnormal price hike, the Chittagong Stock Exchange (CSE) served show-cause notice on the company.
However, the company informed the CSE Thursday that there was no undisclosed price sensitive information for recent unusual price hike of its shares.
The company's share price also rose to Tk 112 each on April 18 from Tk 82 on March 28.
Following the unusual price hike, the securities regulator also formed an enquiry committee to investigate into the unusual movement of price and volume of the stock. However, the report is yet to be published.
After that the share price came down to Tk 85 each on May 28. But, the company's share price was soaring further even after serving of the show-cause notice.
"The investors should remain careful about the unusual price hike of the low-cap companies before investing," said an analyst.
Alif Industries started its share trading on the DSE main trading floor on December 28, 2017, making a comeback from over-the-counter (OTC) market.
The company's earnings per share (EPS) stood at Tk 0.86 for January-March 2018 as against Tk 0.54 for January-March 2017.
In nine months for July 2017-March 2018, the EPS was Tk 2.49 as against Tk 1.59 for July 2016-March 2017.
The net asset value (NAV) per share was Tk 21.81 as on March 31, 2018 and Tk 24.14 as on June 30, 2017.
The company disbursed 10 per cent cash and 25 per cent stock dividend for the year ended on June 30, 2017.
The company's paid-up capital is Tk 375.97 million and authorised capital is Tk 500 million, while the total number of securities is 37.59 million.
The sponsor-directors own 55.13 per cent stake in the company while the institutional investors 10.27 per cent and the general public 34.60 per cent as on April 30, 2018, the DSE data shows.
