Dacca Dyeing shares rise 28% in a month

The share price of the Dacca Dyeing and Manufacturing Company – the home textile and terry towel maker – rose by 28% in the last one month.

Its share price shot up to Tk26.8 each on Thursday, from Tk21 on 27 July.

Also, in the last seven days, the share price soared by 16.5% to Tk26.8, from Tk23 on 18 August.

Regarding the unusual price hike, the premier bourse Dhaka Stock Exchange (DSE) sent a query to the company on 25 August.

In response, the company on Thursday said there is no undisclosed price sensitive information for recent unusual price hike of the shares.

After a gap of four years, the company had recommended a 1% cash dividend for its shareholders for fiscal 2019-20.

It also returned to profit that year after incurring losses for four years.

The company last reported profits in fiscal 2014-15 when it declared and paid a 10% stock dividend, according to the data available with DSE.

In the first nine months of fiscal 2020-21, the company posted a profit of Tk4.09 crore.

The company got listed on local stock exchanges in 2009. It had not paid any dividends since 2016.

According to the DSE website, Dacca Dyeing, a Tk87 crore paid-up capital company, reported Tk8.6 crore in net profit in 2015.