The Financial Express

Monno Stafflers share price soaring sans PSI

Ambee Pharma's share jumps 57pc in a month

| Updated: December 04, 2018 12:42:52

Lankabangla and Fianancial Express Lankabangla and Fianancial Express
Monno Stafflers share price soaring sans PSI

Share price of Monno Jute Stafflers is soaring without any price sensitive information (PSI).

The share price of the company surged further by 6.25 per cent on Monday.

In the past six days after record date, the company's share price jumped more than 35 per cent or Tk 470.80 each to close at Tk 1801 on Monday.

In the last one year, its share traded between Tk 638 and Tk 5634.20 each.

Monno Jute's share price also reached at Tk 5,634.20 each on 15 November, 2018 and became the most valued stock on the Dhaka Stock Exchange (DSE).

After price adjustment on record date, its price came down to Tk 1330.20 each on November 18. Since then, its share price started to rise again.

Following the recent abnormal price hike, the DSE served show-cause notice on the company on Sunday.

However, the company in a knee-jerk response informed the DSE that there is no undisclosed PSI for recent unusual price hike of its shares.

Brokers said even after serving of show-cause notice, the share price of the company continued to rise.

The company declared a 350 per cent stock dividend for the year ended on June 30, 2018.

The company has also reported earnings per share (EPS) of Tk 8.74, net asset value (NAV) per share of Tk 53.30 and net operating cash flow per share (NOCFPS) of Tk 69.68 for the year ended on June 30, 2018 as against Tk 0.57, Tk 52.25 and the negative Tk 96.16 respectively for the same period of the previous year.

The company said that due to overhauling of factory machinery and addition of the new machinery, production has increased.

As a result, the company's sales and earnings per share have increased and total expenditure of the company has decreased for the year ended on June 30, 2018, said the company.

The company, which was listed on the Dhaka bourse in 1982, disbursed 15 per cent stock dividend in 2017.

The company's paid-up capital is Tk 4.60 million and authorised capital is Tk 1.0 billion, while the number of securities is 460,000.

The sponsor-directors own 55.90 per cent stake in the company, while institutional investors own 4.05 per cent, foreign investors 0.01 per cent and the general public 40.04 per cent as on October 31, 2016.

The share price of Ambee Pharmaceuticals also surged 57 per cent or Tk 283 each within one month although it had no PSI.

The company's share price closed at Tk 779.90 on Monday, soaring 7.45 per cent over the previous day.

Following the abnormal price hike, the DSE also served show-case notice on the company on Monday, but the company informed that they had no PSI for unusual price hike.

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