Anlima Yarn's shares surge 40% in one week, reasons unclear
From Tk31.60 on 5 December, Anlima Yarn’s share price hit a high of Tk44.3 in just a week, before settling at Tk42.50 on the Dhaka Stock Exchange on Thursday
Anlima Yarn Dyeing Ltd's stock price has taken an unexpected rocket ride, surging over 40% in just a week. The dramatic jump, devoid of any apparent catalyst or price-sensitive news, has sparked a flurry of speculation and raised concerns about potential manipulation.
From Tk31.60 on 5 December, Anlima Yarn's share price hit a high of Tk44.3 in just a week, before settling at Tk42.50 on the Dhaka Stock Exchange on Thursday.
The company owns and operates a 100% export-oriented yarn and sewing thread dyeing facility. It markets sewing thread and provides yarn dyeing services to different knitting, weaving, and garment factories. The company employed 205 employees as of 30 June 2023.
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Alarmed by a sudden surge in Anlima Yarn's share price, the Dhaka Stock Exchange sought clarification. The company responded, assuring them of no undisclosed price-sensitive information behind the recent spike and increased trading volume.
In the July-September quarter, the revenue of the company stood at Tk4.56 crore, which was Tk3.75 crore in the same period of the previous year.
The company's fortunes reversed in this quarter, plunging to a Tk28 lakh net loss from a Tk2 lakh profit in the same period last year.
Its per-share loss stood at Tk0.16, which was Tk0.01 a year ago. Its retained earnings lost Tk34 lakh, while the net asset value per share stood at Tk10.27 end of September.
The company did not recommend any dividend for its shareholders in the last fiscal year. Its share price stood at Tk0.08.
As of 30 November 2023, sponsors and directors jointly held 44.43%, institutions 4.73%, and public investors 50.84% shares in the company.
