Shares of Sinobangla Industries bagged highest gain of 26.34% to close at Tk30.7 each on Dhaka Stock Exchange last week.
There is no positive disclosure of the company in the recent times that might have pushed up the price by 45% in December, said an executive of a broker.
In response to quarry by Chittagong Stock Exchange on December 18, the company informed the next day that there was no undisclosed price sensitive information for the recent unusual price hike.
However in October, the company obtained positive rating by Credit Rating Information and Services Limited (CRISL).
Nevertheless, the rating was based on audited report of last year’s third quarter and since then the net profit has only fallen, said the executive.
Earlier in a disclosure, the company declared its nine months (unaudited) profit (Nov 2012 to July 2013) of Tk95.7 lakh in the current year.
The profit fell by more than half from Tk2.1 crore in the same period last year.
With a net asset value per share of Tk23.01 in 2012, the company listed in the engineering segment having an EPS of Tk0.48 and a price to earnings ratio of 47.97, based on recently published unaudited reports.