DSE halts Sonargaon Textiles trading amid unusual price surge
Sonargaon Textiles posted a loss of Tk2.12 crore in FY25 and continued losses in the first nine months of FY2025–26.
The Dhaka Stock Exchange (DSE) today (15 June) suspended trading of shares of Sonargaon Textiles Ltd, a listed textile company, midway through the trading session, citing an unusual surge in both share price and trading volume.
Under listing regulations, the bourse may suspend trading of a security if unusual market activity is detected, particularly when it is believed to be driven by rumours, undisclosed material information, or possible manipulation.
In such cases, the exchange may ask the issuer to take corrective action and halt trading until the issue is resolved.
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Sonargaon Textiles is a loss-making company, posting a loss of Tk2.12 crore in FY25.
It also continued to incur losses in the first nine months of FY2025-26.
Despite this, and in the absence of any price-sensitive disclosures, the company's share price has seen a sharp rise in recent sessions, nearly doubling within a month.
Since 10 March, the stock surged 158% to Tk87.50 today, up from Tk33.90, according to DSE data.
In a disclosure published on the exchange website, the DSE said trading was halted for the rest of the day due to an abnormal price hike of 9.92%, coupled with a significant rise in turnover.
Responding to queries from the DSE, the company said it was not aware of any undisclosed price-sensitive information that could explain the recent surge in price and trading volume.
The DSE also halted trading of Shyampur Sugar Mills shares earlier for similar reasons.
Trading resumed a day later on Sunday. Following the resumption, its shares fell around 17% over two trading sessions, closing at Tk202 each the same day.
