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.
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.
