DSE queries Hakkani Pulp, Gemini Sea Food over price surge
In response to the DSE’s inquiries, both companies stated that there is no undisclosed, price-sensitive information to explain the recent sharp rise in their share prices and trading volumes.
The Dhaka Stock Exchange (DSE) has issued queries to Hakkani Pulp and Paper Mills and Gemini Sea Food following an unusual surge in their share prices and trading volumes.
According to DSE trading data, Hakkani Pulp's shares jumped about 23% over six days, while Gemini Sea Food's shares rose roughly 23% in 11 days, despite no disclosure of any material information.
Today (14 August), Hakkani Pulp closed at Tk80.90, and Gemini Sea Food ended at Tk178.60.
Keep updated, follow The Business Standard's Google news channel
In response to the DSE's inquiries, both companies stated that there is no undisclosed, price-sensitive information to explain the recent sharp rise in their share prices and trading volumes.
Market insiders noted that, last week, the share prices of some low paid-up companies rose abnormally without any material reason.
Both firms are currently in weak business condition. They cautioned that such stocks may be targeted by manipulators, posing risks to general investors.
