AMCL-Pran, RFL shares post unusual price rise in 7 days
Shares of AMCL-Pran soared by 49% while those of RFL by 54%
Pran-RFL Group's two sister concerns – Agricultural Marketing Company Ltd (AMCL-Pran) and Rangpur Foundry Ltd (RFL) – have posted unusual share price hikes at the Dhaka Stock Exchange (DSE) in the last seven trading days.
Shares of AMCL-Pran soared by 49% while those of RFL by 54%.
The DSE sent query letters to the companies seeking an explanation regarding the unusual price hikes.
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Both firms replied there is no undisclosed price sensitive information (PSI) for the recent increase in their share price.
According to DSE data, AMCL-Pran's share price rose to Tk395.7 each on Sunday, from Tk265.6 on 6 January.
Also, RFL's share price increased to Tk225.2 from Tk145.8 during the same period.
In the last fiscal, AMCL-Pran's earnings per share (EPS) declined by 6% compared to the previous fiscal year, whereas RFL's year-on-year EPS increased by 18%.
In FY21, AMCL-Pran and RFL approved 32% and 23% cash dividends respectively at their annual general meetings - both held on 26 December last year.
In the July to September period of the current fiscal year, AMCL-Pran posted an 11% profit growth, but RFL posted around a meagre 1% growth compared to the same period the previous year.
