Business Desk :
The share price of Islami Insurance Bangladesh Limited is soaring without having any undisclosed price sensitive information.
The non-life insurer’s share price more than doubled within three months to close at Tk 49.70 on Sunday. Its share price was Tk 24 three months ago on September 8.
The company’s shares traded between Tk 17.80 and Tk 54.20 each in the last year, according to data from the Dhaka Stock Exchange (DSE).
Following the ‘abnormal’ price hike, the DSE served a show-cause notice on the company on Sunday.
The company, however in a knee-jerk response on Monday informed the DSE that there was no undisclosed price sensitive information for recent unusual price hike of its shares.
“At this moment, there is no undisclosed material or price sensitive information of our company which may cause the current unusual upward trend in the price of the company’s shares,” said a top official of the company, seeking anonymity.
Market analysts advised the investors to make their valuable investment decisions based on company fundamentals, technical analysis, price level, disclosed information and most importantly, avoiding rumour-based speculations.
The investors should not pay heed to any rumours related to companies and take their investment decisions prudently, said a merchant banker, adding that the investors should carefully invest in stocks and should analyse the fundamentals of the companies beforehand.
The Islami Insurance, which was listed on the Dhaka Stock Exchange in 2009, disbursed 5.0 per cent cash and 5.0 per cent stock dividend for the year ended on December 31, 2019. The general insurer’s earnings per share (EPS) stood at Tk. 0.63 for July-September, 2020 as against Tk. 0.35 for July-September, 2019.
In nine months for January-September, 2020, its EPS was Tk 1.41 2020 as against Tk 1.15 for January-September, 2019.
The share price of Islami Insurance Bangladesh Limited is soaring without having any undisclosed price sensitive information.
The non-life insurer’s share price more than doubled within three months to close at Tk 49.70 on Sunday. Its share price was Tk 24 three months ago on September 8.
The company’s shares traded between Tk 17.80 and Tk 54.20 each in the last year, according to data from the Dhaka Stock Exchange (DSE).
Following the ‘abnormal’ price hike, the DSE served a show-cause notice on the company on Sunday.
The company, however in a knee-jerk response on Monday informed the DSE that there was no undisclosed price sensitive information for recent unusual price hike of its shares.
“At this moment, there is no undisclosed material or price sensitive information of our company which may cause the current unusual upward trend in the price of the company’s shares,” said a top official of the company, seeking anonymity.
Market analysts advised the investors to make their valuable investment decisions based on company fundamentals, technical analysis, price level, disclosed information and most importantly, avoiding rumour-based speculations.
The investors should not pay heed to any rumours related to companies and take their investment decisions prudently, said a merchant banker, adding that the investors should carefully invest in stocks and should analyse the fundamentals of the companies beforehand.
The Islami Insurance, which was listed on the Dhaka Stock Exchange in 2009, disbursed 5.0 per cent cash and 5.0 per cent stock dividend for the year ended on December 31, 2019. The general insurer’s earnings per share (EPS) stood at Tk. 0.63 for July-September, 2020 as against Tk. 0.35 for July-September, 2019.
In nine months for January-September, 2020, its EPS was Tk 1.41 2020 as against Tk 1.15 for January-September, 2019.
