Prices of Z category cos rise abnormally

Share prices of some 'Z' category companies recently rose up to 49 per cent amid continuous rising trend of issues across the board observed recently.

Some of those 'Z' category companies even witnessed the highest price hike in some trading sessions.

But the daily chart of top 10 gainers of the premier bourse did not include any 'Z' category company despite of witnessing the highest price hike.

The Dhaka Stock Exchange (DSE) featured turnover above Tk 10 billion during July 3 to July 13 mainly riding on 'A' category companies.

The contribution of 'Z' category companies in turnover was very minimal although some of such issues witnessed highest price hike. The 'Z' category companies' contribution was 2.0 per cent to 3.0 per cent in daily turnover value.

According to DSE information, during June 22 to July 13, the share price of Aziz Pipes rose 49.90 per cent or Tk 38.40 to close at Tk 116.10.  

The market price of Kay & Que jumped 30.90 per cent or Tk 17.40 during June 20 to July 13.

Meghna Condensed Milk's price advanced 27 per cent or Tk 3.30 during July 2 to July 13.

The price of Bangladesh Industrial and Finance Corporation (BIFC) witnessed a rise of 21 per cent or Tk 2.10 during July 6 to July 13.

Mohammad Saifur Rahman, an executive director of the securities regulator, said the regulator always remains cautious over the price of hikes of 'Z' category companies.

"The price of a company can rise following the continuous upward trend of the market. We are observing the companies whose price rose abnormally," said Rahman.