BSEEC spokesman Saifur Rahman said, the investigation committee submitted the report. But the Enforcement Action was not done yet. If this is the information will be released.
According to the data review, the shares of the company of the paid up capital of Tk 46 lakh have been increasing at an unnatural rate for almost four and a half months. The share price of the company was 787 taka on March 29 this year. From there it started on Thursday (9th August) at the end of the transaction at Tk 4,510. However, the company has been trading at Tk 4,511.
As a result, the price of each share of the company rose to 3, 764 rupees or 478 percent in the four and half months. In other words, the price of Munno Jute Stufflers shares increased 5.78 times in three and a half months. That means, if an investor buys 10 lakh shares of the company on 9th March and kept it till 9 August, it increased to 5.38 million taka within four and a half months. As he was paying Tk 10 lakh for four and a half months it was found to be 47 lakh 80 thousand taka.
During the BSESE investigation, the company's share price increased at such an abnormal rate. Besides the BSESE investigation, DSE also issued notice to the company several times.
In response to each notice, the company authorities said that there is no unpublished value sensitive information behind the rise in the price of the shares. Based on the information given by the company, DSE warns investors through the website. But shortly after answering the DSE's notice, the company released two sensitive information.
Regarding this, DSE director Rakibur Rahman said, "We have taken a firm decision on the junk shares." Like the Munnu Jute Stufflers 50 million rupees paid-up capital, its share price will be four thousand rupees, this can not be done. We'll catch the company. Many of us have changed, we realize that these things should not be done. We are on board, the board has a responsibility. The board can not ignore everything.
In 1982, DSE published only two years' information about the profit of Munno Jute, listed in the capital market. It shows, in 2016, the company gives 10% cash dividend to the shareholders. As a result, share holders get one rupee dividend against each share. The next year, in the year 2017, dividends are given as 15 percent bonus shares. At present, the company's authorized capital is one crore taka. However, the approval of the approved capital company has been increased to 100 crore taka.
Munno Jute Stufflers shares the number of four thousand 60 thousand. 55.90 percent of the entrepreneurs and managers in hand. In the remaining shares, 37.33 percent of the shares are for general investors. Institutional investors have 6.42 percent and foreigners have 0.5 percent zero percent share.
Analyzing the company's latest published financial report, it has been found that in the nine months of the current accounting year (June 2017 to March 2018), the profit was managed by 13 lakh 60 thousand taka. As a result, profit against each share stood at Tk. 95 paisa.
