Aziz Pipes declares to resume production after shares soar 46% in nine days | The Business Standard
Skip to main content
  • Latest
  • Economy
    • Banking
    • Stocks
    • Industry
    • Analysis
    • Bazaar
    • RMG
    • Corporates
    • Aviation
  • Videos
    • TBS Today
    • TBS Stories
    • TBS World
    • News of the day
    • TBS Programs
    • Podcast
    • Editor's Pick
  • World+Biz
  • Features
    • Panorama
    • The Big Picture
    • Pursuit
    • Habitat
    • Thoughts
    • Splash
    • Mode
    • Tech
    • Explorer
    • Brands
    • In Focus
    • Book Review
    • Earth
    • Food
    • Luxury
    • Wheels
  • Subscribe
    • Epaper
    • GOVT. Ad
  • More
    • Sports
    • TBS Graduates
    • Bangladesh
    • Supplement
    • Infograph
    • Archive
    • Gallery
    • Long Read
    • Interviews
    • Offbeat
    • Magazine
    • Climate Change
    • Health
    • Cartoons
  • বাংলা
The Business Standard

Wednesday
July 16, 2025

Sign In
Subscribe
  • Latest
  • Economy
    • Banking
    • Stocks
    • Industry
    • Analysis
    • Bazaar
    • RMG
    • Corporates
    • Aviation
  • Videos
    • TBS Today
    • TBS Stories
    • TBS World
    • News of the day
    • TBS Programs
    • Podcast
    • Editor's Pick
  • World+Biz
  • Features
    • Panorama
    • The Big Picture
    • Pursuit
    • Habitat
    • Thoughts
    • Splash
    • Mode
    • Tech
    • Explorer
    • Brands
    • In Focus
    • Book Review
    • Earth
    • Food
    • Luxury
    • Wheels
  • Subscribe
    • Epaper
    • GOVT. Ad
  • More
    • Sports
    • TBS Graduates
    • Bangladesh
    • Supplement
    • Infograph
    • Archive
    • Gallery
    • Long Read
    • Interviews
    • Offbeat
    • Magazine
    • Climate Change
    • Health
    • Cartoons
  • বাংলা
WEDNESDAY, JULY 16, 2025
Aziz Pipes declares to resume production after shares soar 46% in nine days

Stocks

Ahsan Habib Tuhin
25 September, 2022, 09:50 pm
Last modified: 25 September, 2022, 10:33 pm

Related News

  • Aziz Pipes: Once gold trophy winner now at last gasp
  • 4 listed sick firms must submit comeback plans
  • Aziz Pipes to resume production after eight months
  • 5 firms asked to explain financial anomalies
  • Kay and Que, Aziz Pipes return from punishing spot trading

Aziz Pipes declares to resume production after shares soar 46% in nine days

Ahsan Habib Tuhin
25 September, 2022, 09:50 pm
Last modified: 25 September, 2022, 10:33 pm

The price of each share of Aziz Pipes Limited rose 46% in the last nine working days to trade at Tk140.3 on Sunday, despite its production halt. 

The company officials said the reason for this sudden price increase is not known. However, on Sunday evening, the company suddenly announced that it will resume production on 1 October.

On 20 September, in response to a Dhaka Stock Exchange (DSE) query, the company said there is no price-sensitive information to explain the increase in share price. 

In November last year, the company was forced to halt production due to a lack of working capital and raw materials. The company could not even apply to any bank for financing due to defaulting on loans.

The Business Standard Google News Keep updated, follow The Business Standard's Google news channel

About resuming production, Aziz Pipes Company Secretary AHM Zakaria told The Business Standard, "It was decided in a board meeting on Sunday and conveyed to the stock exchange."

Regarding the lack of working capital and raw materials, he said, "We are not able to import raw materials with Letter of Credit (LC) through banking channels. Therefore, the money from the sale of products has been taken in advance from customers, and raw materials will be bought from the local market with that money. Production is being started this way for the time being."

Earlier, the company had announced the production closure in January last year. It was then launched in October of that year but closed again in November. Before announcing the production resumption in October 2021, the company's share prices were hiked through market manipulation.

As a loan defaulter, Aziz Pipes has not been able to import raw materials since 2005. Since then, the company had been purchasing raw materials at higher costs from the local market.

Even after being a weak company, Aziz Pipes is always liked by gamblers of the stock market due to its low paid-up capital. Its paid-up capital is only Tk5.37 crore.

For example, the company's share price rose from below Tk20 per share in 2015 to above Tk250 per share in 2018. In August 2018, the Bangladesh Securities and Exchange Commission (BSEC) sent the company into the spot market as punishment because of excessive speculation.

In the spot transactions at stock exchanges, buyers need a cash balance in their investment accounts instead of using sales proceeds the day before maturity.

In July 2020, the BSEC allowed the company to return to the public trading market after it observed some satisfactory changes with respect to its corporate disclosures and other factors.

A top official of a brokerage firm, on condition of anonymity, said "Aziz Pipes shares were manipulated but no disciplinary action has been taken against those involved, which gives more incentive to manipulators and lowers investors' confidence in the market."

According to the company's annual report for fiscal 2020-21, a lawsuit involving Aziz Pipes and Uttara Bank is under trial over a loan of Tk5.72 crore. Besides, in the report, the company claimed that Dutch Bangla Bank's loan of Tk6.68 crore has been regularised.

The company's net asset value per share stood at Tk18.44 negative at the end of March 2022.

The company was listed on the country's stock exchanges in 1986. It could not pay dividends regularly as it incurred losses due to high-cost productions in the last decade.

Aziz Pipes could not pay any dividend to its shareholders for FY21. Now, its shares are being traded under the 'B' category at the DSE. Companies that pay less than 10% dividends are placed under the 'B' category.

The company's board of directors held only 23.93% of its shares, where the minimum regulatory requirement was 30%. The auditor of this company also noticed it in the annual report.
 

Top News

Aziz Pipes

Comments

While most comments will be posted if they are on-topic and not abusive, moderation decisions are subjective. Published comments are readers’ own views and The Business Standard does not endorse any of the readers’ comments.

Top Stories

  • Bangladesh Bank buys $313m more in second dollar auction in three days
    Bangladesh Bank buys $313m more in second dollar auction in three days
  • Abu Sayeed spread his hands as police fired rubber bullets, leading to his tragic death. Photos: Collected
    How Abu Sayeed’s wings of freedom ignited the fire of July uprising
  • 14 NBR officials suspended for 'openly tearing up transfer orders'
    14 NBR officials suspended for 'openly tearing up transfer orders'

MOST VIEWED

  • Bangladesh Bank buys $171m at higher rate in first-ever auction
    Bangladesh Bank buys $171m at higher rate in first-ever auction
  • 131 foreigners were denied entry into Malaysia by their border control. Photo: The Star
    96 Bangladeshis denied entry at Kuala Lumpur airport
  • Double-decker school buses are lined up in a field in Chattogram city. The district administration has proposed modernising the buses to ensure security and convenience for school students. Photo: TBS
    Country's first smart school bus in Ctg faces shutdown amid funding crisis
  • From fuels to fruits, imports slump on depressed demand
    From fuels to fruits, imports slump on depressed demand
  • Bank Asia auctions assets of Partex Coal to recoup Tk100cr in defaulted loans
    Bank Asia auctions assets of Partex Coal to recoup Tk100cr in defaulted loans
  • Representational image. Photo: Collected
    Dollar gains Tk1.8 as BB buys at higher rates, lifting market floor

Related News

  • Aziz Pipes: Once gold trophy winner now at last gasp
  • 4 listed sick firms must submit comeback plans
  • Aziz Pipes to resume production after eight months
  • 5 firms asked to explain financial anomalies
  • Kay and Que, Aziz Pipes return from punishing spot trading

Features

Abu Sayeed spread his hands as police fired rubber bullets, leading to his tragic death. Photos: Collected

How Abu Sayeed’s wings of freedom ignited the fire of July uprising

6h | Panorama
Illustration: TBS

Open source legal advice: How Facebook groups are empowering victims of land disputes

1d | Panorama
DU students at TSC around 12:45am on 15 July 2024, protesting Sheikh Hasina’s insulting remark. Photo: TBS

‘Razakar’: The butterfly effect of a word

1d | Panorama
Photo: Collected

Grooming gadgets: Where sleek tools meet effortless styles

2d | Brands

More Videos from TBS

Reasons for the dismissal of 14 NBR officials, 11 commissioners transferred.

Reasons for the dismissal of 14 NBR officials, 11 commissioners transferred.

5h | TBS Today
What's behind the efforts to implement Hindi across India?

What's behind the efforts to implement Hindi across India?

6h | TBS World
Explanation of the crime trend in the country given by the security analyst

Explanation of the crime trend in the country given by the security analyst

7h | Podcast
Donald Trump is under pressure over the Jeffrey Epstein issue

Donald Trump is under pressure over the Jeffrey Epstein issue

6h | Others
EMAIL US
contact@tbsnews.net
FOLLOW US
WHATSAPP
+880 1847416158
The Business Standard
  • About Us
  • Contact us
  • Sitemap
  • Advertisement
  • Privacy Policy
  • Comment Policy
Copyright © 2025
The Business Standard All rights reserved
Technical Partner: RSI Lab

Contact Us

The Business Standard

Main Office -4/A, Eskaton Garden, Dhaka- 1000

Phone: +8801847 416158 - 59

Send Opinion articles to - oped.tbs@gmail.com

For advertisement- sales@tbsnews.net