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Dhaka Tribune

Poor performing Beach Hatchery up 62% in two weeks

Update : 19 Dec 2013, 07:06 PM

Stocks of Beach Hatchery Limited emerged as the top gainer with a rise of price by 9.96% to close at Tk34.2 each on Dhaka Stock Exchange yesterday.

In the past two weeks, the price of the stocks increased more than 62% at the close of yesterday’s trading from Tk21 each on December 5.

In response to a CSE quarry, the company informed that there is no undisclosed price sensitive information for the recent unusual price hike.

The third quarter earnings as per un-audited report published on October 31 stood at Tk23.7 lakh as compared to Tk1.33 crore of the same period last year.

Based on unaudited financial reports of the company, the turnover during the first nine months gradually sunk from Tk14.1 crore in 2010 to Tk13.5 crore in 2011, Tk11.1 crore in 2012 and finally to Tk9.1 crore in 2013.

The fall during the same periods resulted in an unaudited profit from Tk5.5 crore in 2010 to Tk5.5 crore in 2011, Tk3.9 crore in 2012 and Tk2 crore in 2013.

The net asset value per share having face value of Tk10 each stood at Tk12.48 at the end of 2012, which is about one-third of the current market price.

There was hardly any information available on the public domain that might influence the recent price hike of the stock.

The stocks worth of Tk11.1 crore were traded in the last trading session, which was 2.3% of the total traded value at DSE.

The stock closed at the Chittagong Stock Exchange as the third highest gainer yesterday.

Beach Hatchery falls in the food and allied segment of the stock market. It has an unaudited EPS of Tk0.59 and a price to earnings ratio of 43.47 based on the third quarterly report of the current calendar year.

With having 45.49% of stake by the public and 35.01% by directors, the company has given stock dividends in the last five years.  

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