No undisclosed info behind share price surge, Himadri informs DSE

The share price of Himadri Ltd, a company listed on the SME board of the Dhaka Stock Exchange (DSE), surged by approximately 47% over the last 10 trading sessions until Wednesday.

On Wednesday alone, its shares jumped 7.59% to Tk1,700 each. However, yesterday, no shares were traded, leaving the price unchanged.

Himadri Ltd is the second most valuable stock on the SME board, while Yousuf Flower remains the highest-valued stock on the platform, which facilitates trading for small and medium-sized firms.

Amid the sharp rise in its share price, the DSE issued a query to Himadri Ltd on 19 March.

In response, Himadri Ltd stated that there is no undisclosed price-sensitive information behind the recent unusual increase in its share price.

Himadri Ltd, a subsidiary of Ejab Group, was incorporated in 1974. The company primarily provides cold storage facilities for agro-based products such as potatoes in northern Bangladesh. It currently operates six potato cold storages in Rangpur, Bogura, Joypurhat, Thakurgaon, Gaibandha, and Dinajpur.

In the first half of the current fiscal year (July to December), the company reported a 5.29% decline in its earnings per share (EPS) compared to the same period in the previous fiscal year. Its EPS dropped to Tk19.69 from Tk20.79 in the July to December of FY24.

In FY24, it made a profit of Tk89 lakh, and 5% cash dividend to its shareholders. Earlier, it had paid 10% cash and 250% stock dividend for its shareholders for FY23.