Yousuf Flour’s share price soars by 7,563% in one day!
The share price of Yousuf Flour Mills Limited, listed on the SME platform of the Dhaka Stock Exchange (DSE), rose by 75 times or Tk1,973.9 in a single day on Sunday.
The unusual rise happened because there was no circuit breaker to change the company's share price that day as it had declared a 10% cash dividend for the shareholders on the previous day.
According to DSE sources, the opening price of the company's shares was Tk26.10 each on Sunday. Its shares last traded at Tk2,000, a 7,563% increase from there.
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A total of nine shares of the company were traded that day. The closing price of the company's shares has been fixed at Tk594.40.
However, this is the first time the company's shares have been traded after listing on the DSE SME platform from over-the-counter on 28 July.
Those involved with the capital market say that this is an unusual transaction. The stock exchange or the Bangladesh Securities and Exchange Commission (BSEC) should investigate who was involved in the trading.
According to data available with the country's premier bourse, at the end of FY22, Yousuf Flour's earnings per share stood at Tk5.53.
Meanwhile, the DSE SME index DSMEX rose 33 points or 2.34% to reach 1,454 on Sunday. On the day, the turnover increased 26% to Tk6.66 crore.
The total traded issues were 14, while nine scrips advanced and five declined.
